TX Senate Cuts Retired Teachers Pensions, But Made Sure to Up Their OwnSomervell County Salon-Glen Rose, Rainbow, Nemo, Glass....Texas


 

TX Senate Cuts Retired Teachers Pensions, But Made Sure to Up Their Own
 


19 May 2005 at 11:44:16 AM
salon

Background: Texas Senate, in a non-record vote, gave themselves pension raises.

Meanwhile, the Senate has been working to decrease pension benefits for retired teachers, via the Teacher Retirement System.

The state Senate approved the legislation unanimously on March 30. To become law, the bill must be approved again by the Senate and signed by Republican Gov. Rick Perry -- who would see his own retirement package increase substantially under the legislation. Senate approval is expected; Perry has not said whether he will sign the legislation.

Under the legislation, a state senator or representative with the same 26 years of service Dickson put in would be eligible to collect $74,500 a year, or about $6,200 a month, and receive health insurance from the state.

By contrast, Dickson gets $2,043 a month after paying her taxes and a $100 health insurance premium, she said.

Meanwhile, the Texas Senate approved legislation aimed at shoring up the Teacher Retirement System, effectively reducing benefits for future retirees. There's not even any serious discussion about a cost-of-living increase for current retirees, meaning they're not expected to get one for at least another two years, if then....

Retired teacher Franklin Nix, 72, taught a variety of subjects for almost 25 years in Denton.

After paying health insurance, his pension is $939.91 a month, he said. Nix vowed to vote against any current state incumbents for their role in increasing their own retirement pay while saddling teachers with pensions that continue to lose purchasing power in the face of higher costs for items such as fuel and health care.

"I'm voting against anybody, Republican or Democrat, that comes up for re-election ... including [Gov. Rick] Perry when he comes up," Nix said. "And I'm a redneck, right-wing Republican."


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