Toon and text by John Auchter
Ugh! This again! So earlier this week the story broke that Senate Majority Leader, Arlan Meekhof, and Speaker of the House, Tom Leonard, were making cuts to teacher retirement benefits a top priority in the state budget. Specifically, they want to transfer what is now a state-backed pension into a 401K plan.
The underlying reason is pragmatic enough — the state would pay much less money for public school employee retirement costs.There might be some token matching funds thrown in and a happy, shiny roll-out gleefully touting the empowering opportunities of personal investment. (Oh, boy! I know I love it!) But the real aim is to save the state money through cuts (and not investment).
This, of course, has been the unrelenting game plan for 21st Century Michigan — cut our way to prosperity. Now within the context of the recessions we’ve been through (including that Great one), many cuts made sense. Because of revenue drops, they were necessary to meet the requirement of balancing the budget. And in some cases, they were a means to realigning our priorities as we went from a manufacturing state to … whatever it is that we’re becoming.
But now? Really? At some point it would seem reasonable to try to attract talent to professional positions. Instead, the Republican leadership in particular appears to be in a race to the benefits bottom for the average citizen.
Full disclosure: The cartoon is actually a variation on a similar theme I did several years ago — that one was specifically about medical benefits: “We can only be truly happy when we all have lousy medical benefits.” Sigh. I just want to let you guys know that my intention has always been to be a satirist, not a prophet.
John Auchter draws cartoons. Lots and lots of them. You can find them at his incredibly popular website auchtoon.com. You can also find his stuff on Michigan Public Radio’s website under Opinion.
Thank you for sharing this, John. As a life-long educator I’m sad for the new teachers-the few that are now going into the profession. The rates for folks graduating with a degree in education continues to decline. Now with BD supposedly ‘in charge’, the decline will likely continue. Such a noble career, with many having/needing a Master’s degree. How will the best & brightest be attracted to it? Who will teach our precious children?
So sad. A few years back I emailed a comment to our local paper suggesting the state close all colleges of education and save a bunch of money that way. Recently I saw where enrollment is down 38% in such institutions. Those youngsters aren’t dumb! Unfortunately I live in the area represented by Pavlov, who drinks the DeVos Koolaid. When he is term limited this time he’ll end up with a nicely paid lobbying job. As another retired educator I discourage anyone from going into teaching now. They will reap what they sow.
I think our part time legislators, getting full time pay, should be going to 401 first.
The taxpayers do not need to pay for bloated pensions so that the Democrat party can buy their loyal minions goodies. Use a 401k like the rest of us. My 401k currently has about $1.7 million and I will not retire any time soon. They work great if you just show some personal responsibility and discipline.
Flush the taxpayer funded pensions yesterday.
“Bloated pensions,” my foot. We all are happy to hear how rich you are, Dad, but that is not the point. Americans used to expect reasonable retirement benefits. Most of us do not know how to invest. This whole thing has changed too fast. They threw us into the actuarial/investment game when we were not ready.
Good luck with your $1.7 million! Don’t spend it all in one saloon. You seem to be a dink, bragging about your wealth, and giving us specific dollar amounts. Crass.
How impressive. I don’t understand why you are so angry. It seems like you got everything you want and need.
How is your health insurance, Daddy? Do you have any pre-existing conditions? Anything at all? Any health problems? Of course you do! You probably will lose your health insurance now, if your Republican pals have their way. And, then, maybe, your whole $1.7 million might go for your medical bills. Que lastima, amigo! Buena suerte! (That means What a shame, pal. Good luck.)
You know what dipshit? There are two plans…you earn more and save for your retirement or you earn less and your employer puts money aside for your retirement. I don’t have $1.7M in my 401K but I do have that much in my employer funded pension plan…you know how I know? Because I know what the monthly payout is over my expected lifespan in retirement. See how that works? You don’t want the state to pay into a retirment plan for Teachers????? FINE – then pay them more and it better be at least six figures because that’s what I earn with a Masters Degree so they can fund it themselves.
You know what whore?…. You can get paid what the free market determines your value to be. Set aside your own money in a 401k along with any matching funds as determined by the free market. Invest it wisely for long term growth.
Unless you are too stupid….
You know what working dad the free market labor system has been gone for a long time. That’s why there is a green card system, to break the free market labor system. That’s what employers want, a system for cheap labor bypassing the true cost of labor. Now tell me how you can put money in a 401k making $8.00 bucks an hour.