Tag Archives: 5-year-old

"Deferred Compensation" for K-12 Employees Needs a Lot of Piggy Banks

I’m pretty smart for a 5-year-old. But sometimes I wander into a topic that’s just over my head. That doesn’t mean it’s not important, but it’s probably just best if I let the big people talk about it themselves. My friends in the Education Policy Center released a new Issue Paper today, called Deferred Retirement Compensation for Career K-12 Employees: Understanding the Need for Reform (PDF). It was researched and written by Dr. Michael Mannino from the University of Colorado Denver. Rather than try to explain the paper myself, here’s the summary from the Independence Institute website: To improve understanding of public K-12 retirement compensation, this Issue Paper provides historical estimates using a substantial sample of retiree characteristics and salary histories. Deferred retirement compensation from a hybrid defined benefit plan is defined as the difference between an employee’s estimated retirement account balance and the greater pension value she expects to receive. When accounting for K-12 employee compensation, large amounts of deferred compensation should be included. For the 846 Denver Public Schools retirees in the sample, average lump sum deferred compensation is $627,570. Wow, it would take a lot of piggy banks to put that much money in. But I think […]


Award-Winning Cartoonist Disinvited from School for Offending Union

Thanks to Intercepts’ Mike Antonucci for bringing our attention to this story… San Diego Pulitzer prize-winning political cartoonist Steve Breen was invited to speak at a local public elementary school. A great opportunity for kids to see, right? Think about the kids in the school who are aspiring artists and creative thinkers. Right now, I like to draw pictures of race cars and army guys. Maybe I could do what Mr. Breen does someday. Anyway, there’s more to the story – he has been “disinvited” because of this cartoon he drew: Ed Morrissey at the Hot Air blog makes a great point about the cartoon: A little harsh? Perhaps; the state of California hardly got hijacked by the unions against their will, at least not “Sacramento” as representing its government. The Democrats who run the state willingly allied themselves with these powerful unions and stuck it to the taxpayers on their behalf. Rename the ship “California Taxpayers” and that may be more on target. Regardless, the union officials, school officials, or whoever is responsible for taking back Mr. Breen’s invitation only have helped to prove the point: It isn’t really about the kids, is it? It’s hard to deny that […]