Tuesday, April 27, 2010

Pension argument pits 'haves' and 'have nots'

 Article raises positive and negatives of scraping TRS for new teachers.

pensions topped $150,000 last year for 131 retired public school administrators from the suburbs and downstate, though many retired educators get much less.

The federal Bureau of Labor Statistics reported in fall 2008 that the average hourly wage for all private-sector workers in the Chicago metropolitan area was $22.36. The average hourly wage for government workers was $30.51.

Statewide, salaries for all teachers average $61,402; administrators average $106,217. Nearly two-thirds of schools in the North, Northwest and West suburbs exceed the state average, an analysis of 2009 district report card data shows, topped by Maine Township High School District 207, paying teachers an average of $94,205 and administrators an average of $139,671; Palatine-Schaumburg High School District 211 at $92,811 and $123,414; and Fenton High School District 100 at $92,373 and $131,638.

2009, the average pension benefit for a TRS retiree was about $43,000 a year, calculated as up to 75 percent of the average of the four highest paid years of work. But retired school administrators from the suburbs can receive four or five times that much.

2009, the average pension benefit for a TRS retiree was about $43,000 a year, calculated as up to 75 percent of the average of the four highest paid years of work. But retired school administrators from the suburbs can receive four or five times that much.

Daily Herald | Pension argument pits 'haves' and 'have nots'

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