Posted on

Reader says Ridgewood Teacher’s Union supporters are blatantly misleading readers and twisting facts

REA, ridgewoood teachers

You are blatantly misleading readers and twisting facts!!! Assuming you pay average Ridgewood property taxes of $16,000 a year, and assuming you are, in fact, a soon to retire teacher, then your $16,000 in property taxes helps cover the cost of Village contributions towards your lifetime defined benefit TPAF pension.

Assuming you are a Tier 1 member (enrolled in TPAF before July 2007), you can retire between age 55~60 you will receive full retirement benefits. To calculate how much your annual pension is worth, you divide your service time by 55, then multiple that by your average salary for the three years immediately preceding your retirement. So say 35 years divided by 55 = 63.6% of your average final salary $118,000 = $75,000 in taxpayer protected, defined benefit pension every year until you die which will be more than 25+ years if you retire at 60 and live to the average U.S. lifespan of 85 years. For this you contributed only 6.5% of your base salary but you get a defined benefit amount in retirement plan, i.e. you are insulated from any investment risk and benefit from taxpayer protected pension plan with an assumed annual rate of return of 7.95%. Yes the percentage contribution will gradually climb to 7.5% by 2018, but it’s still less than the 10% that PFRS members contribute and you take no investment risk like the rest of us with defined contribution IRAs or 401(k) plans. Those who enrolled in TPAF on June 28, 2011, or later are won’t be eligible until 65 for a pension, but that is for members who will retire in 35+ years from now, NOT you.

That $16,000 in property taxes also helps to subsidize your “Platinum” level health benefits, as defined by the ACA, which is an annual benefit of up to $28,000 a year depending on family member coverage. This plan covers up to 96% of eligible medial costs with $10 co-pays..TPAF members with at least 10 years of service time also receive a free group life insurance policy payable upon their death to their beneficiaries. You can also choose to purchase an additional group life policy that costs 0.4% of your paycheck. Not bad for $16,000 in property taxes, which is why it means you should be ASHAMED of your comment that “I am Ridgewood tax payer too and suffer just like you when the rates increase.” You don’t suffer, it’s in YOUR beneficial interest because you benefit from increased taxes which help pay for your retirement. Put in $16,000 a year in property taxes and get out over $105,000 in annual benefits. So please tell the whole story here or it truly is “shame on you.”

18 thoughts on “Reader says Ridgewood Teacher’s Union supporters are blatantly misleading readers and twisting facts

  1. Let me get this straight. The issue holding up settlement is the BOE’s offer that teachers will have to pay another $5 towards their medical co-pay? Am I missing something? Wow! BOE hold your position. I am an experienced nurse educator with a master’s degree and my employment package doesn’t come anywhere near this and I do not get 2 months off in the summer. It is obvious hat the public pension system is unsustainable in its current form. Teachers need to get a grip on reality. They have a sweetheart deal in Ridgewood.

  2. 8:20 am you are right on the money.

  3. It is most certainly NOT simply a higher copay. All down the line the plan costs the user(s) more money. In addition there are multiple other factors. Please read the factfinder’s report from a few months ago. If you need help finding it I will help you locate it.

  4. BOE, hold fast, the union members are grasping at straws. They are acting like spoiled brats rather than professionals.

  5. Yep, the greedy teachers don’t $15 co-pays, they want to keep $10. And their platinum coverage covers up to 96% of medical expenses both in and out of network with full family coverage worth $28,000 a year in premiums…. NO ONE in the private sector gets a plan like that, only greedy public sector workers who think it’s their right.

  6. These teachers and their benefits are out of control. Hold the line BOE. Thank goodness most of our volunteer BOE members don’t have kids in the schools anymore – the REA abused previous board members who did have kids with veiled threats and heaped abuse. The REA’s tactics are in BAD faith, and they are selfish. Support our students, support the BOE and support Ridgewood taxpayers.

  7. 1,100 applicants for Ridgewood BOE job openings in the past 12 months. Hopefully there are a lot more job openings once we get rid of the thugs pictured above. Can anyone name these people? The look on their faces tells it all: they are smug, self-entitled, and angry about $15 co-pays instead of the current $10… let’s fire the malcontents and replace them with educators who want to work with our kids.

  8. 8:20, The issues are more complex than that. Info is available on REA facebook page.

  9. If the teachers don’t like the deal they are free to walk. We have 1,100 applicants who would be thrilled to take their job.

  10. Ridgewood teachers are overrated and too full of themselves.

  11. It’s BAMM time..well done…reader ..this has got change Now!,!!

  12. You need to read the recent fact finder’s report – likely the most non-biased document that discusses all of the issues (it’s not just health care). Available on BOE website and REA website. Suggest to avoid relying solely on opinion and comment in this blog to form your opinion on the issue.

  13. The educators are being lead to a loosing position by own unions, and those educators need to cut their losses and negotiate a deal that the taxpayers (bosses) can also live with…so they teachers and educators can continue to hold onto such great longer term benefits incl pensions etc…that will support their families for decades after retirement. Benefits others only dream about…that’s the reality while companies are firing those over 45

  14. The teachers post on Facebook and most residents do not respond. No one wants to start a fight.

    The lawn signs are on the lawns of teachers and school employees.

    Teachers have to realize that residents have had enough. One keeps telling people to read the factfinder’s report. Everyone cannot jump into the details of their drama.

    Insurance should be like mine. Keep the 2% cap. Let them strike and get fired.

  15. 3:35, the fact finder’s report is misleading and doesn’t address the key BOE (and Ridgewood taxpayer) concerns. Stop basing your argument on this faulty document.Tell your union to settle, and tell the NJEA thugs behind the curtain to buzz off, there’s no place for Hudson County-style politics in Ridgewood.

  16. REA is in a losing position here, either they settle or we replace them when they strike. NJEA is giving the really bad advice.

  17. 11:33 If there is one piece of material that is unbiased, based on the facts that were gathered, reviewed by a responsible, professional, non partisan party it is the fact finders report. To say that it is faulty is absurd. It addresses all of the issues in a concise factual manner and shows no allegiance to either side of the issue. Did you even read it?

  18. All I know is I should’ve became a plumber. Because what they charge to come and do a repair is like calling your doctor. Oh yes

Leave a Reply

Your email address will not be published. Required fields are marked *