Retired teacher pension
To the Editor:
Teachers who are presently retired paid eight percent of their wages into the Teachers Retirement System for pensions.
By law, the state was to match these payments. The state, however, never paid their full share into the TRS account.
This is money that the teachers saved – just as putting funds into a bank account. For state legislators to now deny payments as required by law is just like someone stealing from your saving account.
Many teachers, like myself, did the early retirement option the state offered because we saw that the 3 percent compounded cost of living increment would keep our standard of living at par.
If those of us who purchased the early retirement option had known that the state was to renege on its promise, we would probably not have retired and stayed teaching to fulfil our maximum retirement requirements – and even stayed on longer than that in order keep a our standard of living as costs increase.
I hope the courts will see what the state legislators have done is in violation of the state constitution, which states the TRS retirement benefits will never be diminished.