When SF voters approved a $298 parcel tax last month to generate $50M/year to presumably raise teacher salaries, https://ballotpedia.org/San_Francisco,_California,_Proposition_G,_Parcel_Tax_for_the_San_Francisco_Unified_School_District_(June_2018) … they didn't know that that number doesn't even cover annual contributions on SFUSD's unfunded pension liabilities http://www.sfusd.edu/en/assets/sfusd-staff/FY%2016-17%20ANNUAL%20AUDIT%20REPORT.pdf …https://twitter.com/Calefati/status/1021103062264532995 …
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Yea for sure. Funding teacher retirement plans is a worthy thing to do though, maybe it is like how we lie and say transit is going to reduce traffic, we should raise funds for pensions by saying it will go towards teacher salaries.
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It’s part of total compensation.
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It’s kind of absurd that whenever pension costs are discussed, we focus on fairly modest teacher pensions (who don’t get social security) rather than much more generous firefighter / police pensions!
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That said, given how tough it is to survive on a teacher’s salary, focusing dollars on pensions (which are very far off, don’t really affect career choices) vs salary is also frustrating
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Can’t win elections by promising to take away benefits or raise taxes. So you promise more benefits and don’t identify a funding source with the hopes the opposition party blocks you so you can run on same promise the next election while blaming opposition. Cynical but
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Median household income, USA: $59,000 SF *local* budget per/capita: $11,500 BEFORE anybody starts paying the pensions. And it's the suburbs that are (supposedly) the unsustainable problem!
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