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The point was that teachers earn less than what they could get in other jobs in the same area. Comparisons should be based on the lifestyle the compensation en
by jltsiren 1y ago
The point was that teachers earn less than what they could get in other jobs in the same area.
Comparisons should be based on the lifestyle the compensation enables rather than some abstract numbers. People generally have the greatest need for money when they are buying a home, starting a family, and raising kids. Money in hand today is much more valuable than mandatory retirement benefits you can only enjoy decades later.
- rahimnathwani 1y agoThe point was that teachers earn less than what they could get in other jobs in the same area. I don't believe that's true. People generally have the greatest need for money when they are buying a home... Maybe, but the fact that you don't have to save for retirement frees up money to spend on a home!
- jltsiren 1y agoMost pensions are not purely free money. Employees are usually required to contribute a nontrivial fraction of their nominal salary towards the pension. For SFUSD, the typical rate seems to be 9%.
- rahimnathwani 1y agoYeah, I think they pay about a third of the total contributions. But the state also steps in to pay for any shortfalls. So I think effectively pay less than a third of total contributions.