Vermont-NEA News

BREAKING: Speaker's Pension Proposal Begs the Question: Whose Side are You On?

House Speaker’s Pension Proposal Begs the Question: Whose Side Are You On?

‘Plan’ Forces Teachers to Work Longer, Pay More, and Get Less

MONTPELIER – House Speaker Jill Krowinski’s plan to address funding issues with the teachers’ retirement system – issued less than two days before a perfunctory late Friday public hearing – is an insult to teachers, asking them to work longer, pay more, and get less, according to the state’s largest union.

Don Tinney, a high school English teacher who serves as president of Vermont-NEA, noted that the plan will cost teachers about $309 million and still cut retirement benefits. “After reviewing this plan, we are left with one simple question to legislators: ‘Whose side are you actually on?’”

The speaker’s proposal asks teachers to shoulder the vast portion of the system’s underfunding by hiking the retirement age, boosting teacher contributions, imposing a “risk-sharing” fee, diminishing the benefit, and cutting cost of living adjustments. And while it does call for a one-time payment of $150 million from the state, it does not take advantage of the massive influx of federal dollars or ask the wealthiest Vermonters and large companies to pay their fair share.

“We’ve urged state leaders to seek a dedicated source of revenue for the pension’s obligations by raising taxes on those Vermonters who have done exceedingly well both before and during this pandemic,” Tinney said. “Unfortunately, the Speaker seems to prefer taking money out of the pockets of teachers rather than ask the most fortunate among us to pay more. This is a particularly cruel way to thank teachers for their hard work supporting students during a pandemic.”

The speaker’s plan was developed by a small group of House committee chairs and vice-chairs and was revealed only a few hours ago. And while she and her leadership team have insisted that the proposal would be subject to thorough review, the one and only chance for the thousands of affected teachers to address their concerns is a hastily scheduled late Friday public hearing that will only accommodate 40 witnesses.

“If the Speaker and her team were legitimately interested in hearing from teachers whose pension is being cut, they would not have devoted only two hours on a Friday afternoon to take testimony on a proposal that has serious financial implications for thousands of Vermonters,” Tinney said. “But make no mistake: they will hear from us loud and clear.”

The speaker’s proposal comes more than two months after Treasurer Beth Pearce released a proposal that would cost teachers about $254 million in reduced benefits, longer work requirements, and higher contributions. The speaker said her proposal would not affect current retirees or those within five years of retirement.

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