I’m sick to my stomach at what I see happening in my state government right now. It’s not a surprise: our governor made it clear he wants this outcome, our lieutenant governor is so anti-teacher it makes me cringe to even hear him speak. Half the educators I know voted for these guys because the R beside their names even though they’ve made it clear they’re at war with the public school system and teachers.
When I started teaching, I knew I’d never get rich doing it. God put me on this earth to teach, though. I knew it from my first moment in the classroom.
When I first started teaching, I didn’t really understand how the Teacher Retirememt System worked. I saw the contribution on my pay stubs, but I didn’t really comprehend why TRS existed and how it worked.
Then Enron happened.
Long story short a lot of people lost everything with bad investments in Enron. TRS was invested, but the people who run the pension diversify, so TRS survived and even thrived. After that, I learned a little about how TRS works.
Basically: current teachers pay into TRS. The state contributes a small percentage (a number they’ve decreased). When teachers retire they get a set pension for life or they can take a lump sum.
TRS is one of the top performing pensions in the nation. It’s one of the things Texas teachers know they can depend on.
Now republicans have put forward SB 1751. A bill that if passed will move our guaranteed pensions–and state employee pensions–to the market driven 401k system. A system that has been proven to work great for the wealthy while account managers make major bank on fees AND proven to be totally unsustainable for the regular middle class worker to live comfortably in retirement.
Most teachers are just part of the regular middle class. I certainly am.
I’ve saved my entire career and even put money in my own retirement plan on top of TRS, but TRS is my lifeline. It has to be. I won’t ever get social security because Texas won’t allow me to draw both even if I work enough quarters outside of the school system to qualify.
Most teachers I know work more than one job. I know when I retire I will have to work somewhere still, that my retirement alone won’t be enough. BUT it is a guaranteed income. And the 401k system some republicans want to move us to is only a guaranteed income for the banks and money managers in charge. If SB 1751 passes, public employees in Texas are screwed. The whole system only works if we all pay our fair share while working, and right now it works well. SB 1751 is ridiculous.
I do have hope. If people make it clear they do not support SB 1751, if they call their legislators, maybe we can swing the tide against this awful bill. I know my local state rep. is very pro-public education and goes against his party regularly. My local senator on the other hand…I don’t know. She’s never written me back.
Texans, I’m asking you to please call your legislators and tell them you do not support SB1751. It’s an anti-teacher bill and it will hurt us terribly. I’m also begging you to research candidates before the next election. We won’t keep winning these fights to save public schools and public school teachers if we keep voting in anti-public school candidates.