Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

Huckabee Said That For Every $1 WI Teachers Put in Their Pension Plan, the State Puts in $57
Huckabee on Fox | February 20, 2011 | Stayfree

Posted on 02/20/2011 5:38:52 PM PST by Stayfree

Mike Huckabee said on his show that for every $1 that teachers put into their pension plan that the state of Wisconsin puts in $57. If that is true, that is obscene!!!


TOPICS: Business/Economy
KEYWORDS: pension; teachers; wisconsin; wisconsinshowdown
Mike Huckabee said on his show that for every $1 that teachers put into their pension plan that the state of Wisconsin puts in $57. If that is true, that is obscene!!!
1 posted on 02/20/2011 5:39:00 PM PST by Stayfree
[ Post Reply | Private Reply | View Replies]

To: Stayfree

Can someone help me post a pic to this thread from yesterday’s tea party rally?


2 posted on 02/20/2011 5:43:04 PM PST by Crooked Constituent
[ Post Reply | Private Reply | To 1 | View Replies]

To: Stayfree
This is from NYC:


3 posted on 02/20/2011 5:43:22 PM PST by ReverendJames (Only A Painter Or A Liberal Can Change Black To White.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Stayfree

Huckabee Said That For Every $1 WI Teachers Put in Their Pension Plan, the State Puts in $57

dang, no wonder the protesters are mad— thats insane


4 posted on 02/20/2011 5:44:34 PM PST by chicken head
[ Post Reply | Private Reply | To 1 | View Replies]

To: Stayfree
....for every $1 that teachers put into their pension plan that the state of Wisconsin puts in $57.

.....for every $1 that teachers put into their pension plan, Wisconsin taxpayers put in $57.

There. Fixed it.

5 posted on 02/20/2011 5:46:26 PM PST by Texas Eagle (If it wasn't for double-standards, Liberals would have no standards at all -- Texas Eagle)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Stayfree

No wonder these union members are so irate. Who wouldn’t want such deals like that? But they want nonunion members to pay higher taxes so they can keep getting their benefits and pensions, which is disgusting and morally wrong to say the least.


6 posted on 02/20/2011 5:48:25 PM PST by bcr100
[ Post Reply | Private Reply | To 1 | View Replies]

To: Stayfree
I thought the employees didn't put in anything at all ~ that the deal was full finding through a direct transfer from WI to the account.

What that did was AVOID federal income tax.

If the state had recomputed the way their rumuneration was to be handled, they'd been paying that fund out of their own pockets ~ and that is NOT TAX FREE.

You have to remember, this is simply a tax dodge ~

7 posted on 02/20/2011 5:48:46 PM PST by muawiyah
[ Post Reply | Private Reply | To 1 | View Replies]

To: Stayfree

Links to such data would be great.


8 posted on 02/20/2011 5:49:06 PM PST by NoLibZone (Impeach Obama. Then try him for treason.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ReverendJames
This is from NYC:

That's is NYC

http://www.nypost.com/p/news/local/you_pay_the_price_hNooJsBk9MtO67HvinglHP


9 posted on 02/20/2011 5:54:13 PM PST by NoLibZone (Impeach Obama. Then try him for treason.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: NoLibZone

I understand. But how is it different in WI? I’ll bet it’s pretty close. That too in other states as well. That’s why their budget is in such a mess.


10 posted on 02/20/2011 5:56:28 PM PST by ReverendJames (Only A Painter Or A Liberal Can Change Black To White.)
[ Post Reply | Private Reply | To 9 | View Replies]

To: Stayfree

That’s a little more than overmatching.


11 posted on 02/20/2011 5:57:57 PM PST by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Stayfree

I certainly don’t find this surprising.
Wis has been a progressive “paradise” for a long time.
UW Madison was one of the epicenters of 60s radicalism.

What shocks me is that some Republicans got elected.


12 posted on 02/20/2011 5:59:25 PM PST by nascarnation
[ Post Reply | Private Reply | To 1 | View Replies]

To: Stayfree

Huckabee pretends to be irate about this, but he was a very big spender when he was governor. How much do the taxpayers put into teachers’ pension plans in Arkansas?


13 posted on 02/20/2011 5:59:58 PM PST by Cicero (Marcus Tullius)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Stayfree
Not a chance. So if a teacher puts in $100 every two weeks the state adds $5700? That's $11,400 a month or $138,800 per year.

Huckabee is an idiot and he makes Republicans look like idiots.

14 posted on 02/20/2011 6:05:59 PM PST by buccaneer81 (ECOMCON)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Cicero

Has anyone ever met a teacher who didn’t whine about how little they got paid, how much time they spent at home grading papers and generally, how society disrespected them in one way or another? Spare me. Just spare me.


15 posted on 02/20/2011 6:06:03 PM PST by hal ogen (1st amendment or reeducation camp?)
[ Post Reply | Private Reply | To 13 | View Replies]

To: buccaneer81

Correction: $148,200 a year based on 26 pay periods. Either way, Huckabee is an idiot.


16 posted on 02/20/2011 6:10:25 PM PST by buccaneer81 (ECOMCON)
[ Post Reply | Private Reply | To 14 | View Replies]

To: buccaneer81
anyone ever been in a school 20 minutes after the last class?

Most of the teachers are gone.

A real summer off.

17 posted on 02/20/2011 6:13:38 PM PST by scooby321
[ Post Reply | Private Reply | To 16 | View Replies]

To: scooby321
Here is Milwaukee’s package http://www.youtube.com/watch?v=9x2N4bDmzdc&feature=player_embedded#at=13
18 posted on 02/20/2011 6:18:52 PM PST by scooby321
[ Post Reply | Private Reply | To 17 | View Replies]

To: scooby321

http://www.youtube.com/watch?v=9x2N4bDmzdc&feature=player_embedded#at=13


19 posted on 02/20/2011 6:19:30 PM PST by scooby321
[ Post Reply | Private Reply | To 18 | View Replies]

To: buccaneer81
Not a chance. So if a teacher puts in $100 every two weeks the state adds $5700? That's $11,400 a month or $138,800 per year.

It's entirely possible because the Wisconsin Retirement System pays its share of the retirement contribution AND picks up the employees contribution. So it's quite possible to get $57 from just a $1. In some cases probably even more than that because some government agencies pay even more as "kickers" or bonuses that get lumped on top of the individual and the government employer contribution. Usually to police and fire.

And the entire contribution is not taxable.

20 posted on 02/20/2011 6:21:25 PM PST by VeniVidiVici (Only two things come from Wisconsin and I see you're wearing an "I Heart Madistan" t-shirt)
[ Post Reply | Private Reply | To 14 | View Replies]

To: Stayfree
Dear Huckster,

It's not "the State". It's the taxpayer. Get it right.

L

21 posted on 02/20/2011 6:23:59 PM PST by Lurker (The avalanche has begun. The pebbles no longer have a vote.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: VeniVidiVici

I still call BS. As mentioned above, NYC puts in about $10 for every fire department employee’s $1, and $9 for every cop’s $1.


22 posted on 02/20/2011 6:27:43 PM PST by buccaneer81 (ECOMCON)
[ Post Reply | Private Reply | To 20 | View Replies]

To: buccaneer81
Huckabee is an idiot and he makes Republicans look like idiots.

He's Main Stream Media. They aren't really great on fact checking.

I like FOX because I prefer a right leaning version of the news.

But even fox tends to rush stuff onto the TV screen without much research.

I take ALL news with a healthy grain of salt.

23 posted on 02/20/2011 6:32:33 PM PST by sonofagun (Some think my cynicism grows with age. I like to think of it as wisdom!)
[ Post Reply | Private Reply | To 14 | View Replies]

To: Stayfree
Here is Wisconsin's retirement plan in detail. It's a little more complex than I can deal with, but I'll bet one will be hard pressed to squeeze Huchabee's numbers out of it.

Calling any Freeper accountants that would like to provide insight.

24 posted on 02/20/2011 6:46:28 PM PST by sonofagun (Some think my cynicism grows with age. I like to think of it as wisdom!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Stayfree

!!!EXCEPT!!! That the state does not actually put any money away- It just promises to pay that amount at some time in the future. It puts away an IOU.

Well NOW is the future for some retirees and they have to borror billions each year just to pay retired people.

When you have to BORROW money just to cover operating expenses you are in serious trouble.

In the private secotr, when income does not cover AT LEAST operating expenses, you shut down immediately -because it is costing you more money to stay open than to close.


25 posted on 02/20/2011 6:52:30 PM PST by Mr. K (Job #1 is to DEFUND THE LEFT~!!!!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: NoLibZone
http://www.weau.com/home/headlines/Walker_releases_cost_of_public_sector_benefits_116167454.html
26 posted on 02/20/2011 6:57:07 PM PST by Solson (The Voters stole the election! And the establishment wants it back.)
[ Post Reply | Private Reply | To 8 | View Replies]

To: buccaneer81
The numbers have been reported and validated from a number of sources. The current contribution by public employees in wisconsin is 0.2% to their retirement fund. They currently pay about 3% of their healthcare premiums.

Walker is asking them to go to 12% of the healthcare premiums and equal contribution into the retirement fund. The big bitch is the removal of collective bargaining rights on pensions and health care. Wages would still have those rights but raises would be indexed to inflation unless approved by a referendum.

It's Senate Bill 11 or SB11 in case you're interested.

27 posted on 02/20/2011 7:01:45 PM PST by Solson (The Voters stole the election! And the establishment wants it back.)
[ Post Reply | Private Reply | To 22 | View Replies]

To: Stayfree

They are elevated to the level of gods and goddesses in this culture; cause nothing is too good for little Alexandra and little Fauntleroy’s education. Thing is WE’RE BROKE! It’s painful to have to finally say it, but we’re all going to have to either get real or face the fact that debt is an addiction.


28 posted on 02/20/2011 7:03:06 PM PST by Twinkie
[ Post Reply | Private Reply | To 1 | View Replies]

To: hal ogen

So true. You should meet the teachers in Canada. I remember them whining one year because Christmas holidays weren’t going to start until the 23rd of December! They are so oblivious to the real world, they actually were asking, “When are we going to do our Christmas shopping?” They normally start holidays well before Christmas, giving them time to shop during the day, unlike the rest of us who fit it in on weekends and evenings.


29 posted on 02/20/2011 7:11:57 PM PST by JudyinCanada
[ Post Reply | Private Reply | To 15 | View Replies]

To: buccaneer81

I heard the huckster say that and thought it sounded outrageous. Wonder where he got that information.


30 posted on 02/20/2011 7:13:15 PM PST by JudyinCanada
[ Post Reply | Private Reply | To 16 | View Replies]

To: JudyinCanada
I heard the huckster say that and thought it sounded outrageous. Wonder where he got that information.

Good question. It certainly gives ammo to the "Fox Lies!" crowd.

31 posted on 02/20/2011 7:15:22 PM PST by buccaneer81 (ECOMCON)
[ Post Reply | Private Reply | To 30 | View Replies]

To: buccaneer81

Here is some info from the Milwaukee Teacher’s association.

New contract.

Starting in 2011, teachers will pay one percent of salary as a health insurance premium. So, a teacher making $52k per year will pay $10 per week. Family coverage is 2%, so the premium for the same income would be $20/week.

This is up from ZERO premium paid by teachers.

http://www.mtea.org/Contracts/Teachers/Tentative-Agreement.nws

The school district pays 6.5% of each employee’s grass pay into the retirement fund. The employees pay nothing out of pocket. I don’t believe anything changed in the new contract.

see page 208 on this copy of the contract.

http://www.mtea.org/User/Mimlitza/TEACHER0709.pdf

Most contracts are similar.


32 posted on 02/20/2011 7:19:57 PM PST by MediaMole
[ Post Reply | Private Reply | To 14 | View Replies]

To: NoLibZone

That’s amazing!

My employer puts in (matches) half of my first 3%. It’s not a lot, but it IS free money (sort of), so I contribute enough to the 401K to get their max contribution.

Of course, I’m in the process of emptying the account, since indicators are that the market is about to take another big doodoo. Lost 35% in ‘08, won’t happen again.


33 posted on 02/20/2011 7:32:48 PM PST by FrogMom (No such thing as an honest democrat!)
[ Post Reply | Private Reply | To 9 | View Replies]

To: buccaneer81

Not a chance. So if a teacher puts in $100 every two weeks the state adds $5700? That’s $11,400 a month or $138,800 per year.


Well, they have to be limits, not match every dollar with $57. Say you make $50K a year and the state puts $10k in your pension. Of that 10K you put 10k/57 or whatever.


34 posted on 02/20/2011 7:51:01 PM PST by mewykwistmas ("If the Egyptians are hungry, let them eat ethanol")
[ Post Reply | Private Reply | To 14 | View Replies]

To: Stayfree

I saw that Huckabee show. He did a nice job with his commentary and, in fact, runs a very good television program. It was great to see the Nuge, too! It seems Huckabee has found his niche, and I hope he continues with his show for many years to come. I enjoy it.


35 posted on 02/20/2011 7:58:45 PM PST by Lancey Howard
[ Post Reply | Private Reply | To 1 | View Replies]

To: mewykwistmas

When I was working, the City (taxpayers) put in about dollar for dollar. After the stock plunge in 2001, that grew to almost 2 to 1. Last I knew that is about the same. Employees paid in 8%, city about 15%. This is to a local pension fund. Those employees in the state funded Municipal Employees retirment System (MERS) have a different fund mix.
In short, I doubt Huckabee’s numbers. It is possible the the teachers pension funded invested poorly. I have heard that several public pension funds elected to invest in higher than accepted risks and lost big in 2001 and again in 2008. If that is the case, then there could be a replacement factor involved.

Dependind on the pension specifics such as years of service, age, etc, figure about 20-25% of payroll for pension. Asking teachers to pay 9-10% is not unreasonable. Paying one third to one half is not out of line.


36 posted on 02/20/2011 8:31:27 PM PST by midcop402
[ Post Reply | Private Reply | To 34 | View Replies]

To: Stayfree

And what did HE do to change the educational system and pensions while he was governor of Arkansas for 10 years or was it 12? He needs to shut up unless he did what he is insisting in Wisconsin. I love how people can shoot the crap when they are not in the position. I guess that is why I don’t like the Huckster.


37 posted on 02/21/2011 2:54:33 AM PST by napscoordinator
[ Post Reply | Private Reply | To 1 | View Replies]

To: Stayfree
Calm down.

Facts are your friend. An amount of money is taken from teacher wages every month and placed into the fund. Over time, interest and investment growth accrues. The money will then be paid to the teacher in installments upon their retirement; not unlike a 401K except a teacher has no *say* in what and where their funds are invested.

The assets are invested in mutual funds and money markets by the *State of Wisconsin Investment Board,* as in most states. In 2007-8 these *invested funds* were in the negative.

38 posted on 02/21/2011 3:10:29 AM PST by Daffynition ( Live EACH DAY as if it were your last, but EXPECT that there still may be a tomorrow.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: FrogMom
It is not the state that is putting $$$ into the retirement account. It is the captial gains from the the investments of the employee's own pre-tax wages that is paid upon retirement. These investments are made by an appointed Investment Board in most states.
39 posted on 02/21/2011 3:25:46 AM PST by Daffynition ( Live EACH DAY as if it were your last, but EXPECT that there still may be a tomorrow.)
[ Post Reply | Private Reply | To 33 | View Replies]

To: ReverendJames
Many states are NOT putting the earned funds into state retirement accounts, but spending that money elsewhere to *balance* their budget. Tell me how that is right? Many states are in the same boat and the over-spending beast cannot be satiated.
40 posted on 02/21/2011 3:36:42 AM PST by Daffynition ( Live EACH DAY as if it were your last, but EXPECT that there still may be a tomorrow.)
[ Post Reply | Private Reply | To 3 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson