I like the idea of a referendum on the teachers contract, so long as it’s binding. We had great teachers and administrators who built up the reputation of Ridgewood schools. The current bunch? Meh. They seem to care more about their health benefits than our kids. If you witnessed their behavior this past school year you’d agree they’ve done nothing to carry on the “tradition of excellence”. More like “riding on the coat-tails of the reputation built by the predecessors.” They are trying to bully us with the backing of NJEA lawyers and lobbyists. We need to support our BOE and students, if only they elicited the same grassroots support that the we’ve seen opposing the most recent garage proposal and Valley!
We normally don’t govern by referendum. We elect representatives to govern. When they do a good job they are reelected. When they do a poor job they are replaced.
We elected representatives in Trenton. They passed a law with a 2% cap. That made me very happy!
There should be no settlement @ 10$ copay. If the BoE agrees to 10$ copay demand from the teachers, current BoE members won’t be re-elected.
10$ copay is a joke. BoE is recommending 15$ copay, which is still half of what I pay and this saves the taxpayers over a Million Dollars in two years. This is brainer. As long as teachers insist for 10$ copay – we should not settle.
“Ridgewood Taxpayer” Agreed. So far BoE is doing a good job by holding up against the teacher’s crazy demands.
A referendum was needed for the garage because of the arrogant representatives, who stopped listening to their constituents and said multiple times from the dais that “we are here to GOVERN, we will do what we think is right based on our vision of Ridgewood downtown” — i.e. it’s all about “me”.
Even the custodial supervisory staff is repeating that B.S. “I’m doing it for the kids” line while slow-walking maintenance on the sprinkler systems at the elementary schools.
Should be a $50 copay and “bronze” level coverage like he rest of us. Why do teachers deserve better health plan benefits than everyone else who are paying taxes to fund the BOE’s annual $102 million budget?
Why aren’t the teachers contributing to 403-b defined contribution pension plans like private sector workers do with 401-k and IRAs? Defined benefit plans for life are too expensive for tax payers, and these plans assume a 7.95% annual return which is insane when 30 year US treasuries only yield 2.14% and 10 years yield only 1.375%…. Nobody makes 7.95% a year on their pension plan these days.
BOE hold the line. I agree they should get bronze level with the option to purchase higher better insurance. This group gives teachers a bad name … just in it for the perks. They should all be thankful to work in this district. Teachers who deserve better pay and benefits are the ones who teach in tough urban areas … that takes real dedication.
Teachers, be thankful you have a good job, a noble career, better than average wages and benefits which are basically guaranteed by contract and/or statute. Should the economy improve on the whole, you will benefit. The rest of us are fighting to keep afloat during this new ‘norm’ economy for the past 7 years. BOE, no referendum. We elected you to be prudent with the education of our children and taxpayer money. I know you’ll do what you think is best for all.
Wow 11:46 AM, Your comment exposes your ignorance. Lets look at what you said one false statement at a time.
1) Why aren’t the teachers contributing to 403-b defined contribution pension plans.
There would be no need for this if the Governors, starting with Whitman, didn’t mess with the N.J. Pension system and take money from the system (like those rascals in Washington did to Social Security) and not repay it. FACT had all of the money been left in the Pension System and the appropriate contributions were made the Pension system would NOT be even close to being insolvent.
2) Defined benefit plans for life are too expensive for tax payers, and these plans assume a 7.95% annual return which is insane when 30 year US treasuries only yield 2.14% and 10 years yield only 1.375%.
Interesting that you chose to highlight only the US Treasuries. The fact is pension funds are invested in over thousands of different investments. One such investment is the S&P 500. A historical examination of the S&P 500 shows that indeed an average of 7% (from 1950 – 2009, which is just after the 2009 low of 6000 (3/9/2009) for the DOW) is achievable and more when the dividends are factored in.
The following table shows average annual results for each decade
Real Total Return Inflation adjusted
1950’s 16.7 %
1960’s 5.2 %
1970’s -1.4 %
1980’s 11.6 %
1990’s 14.7 %
2000’s -3.4 %
1950-2009 7.0 %
According to Standard & Poor’s, the dividend component was responsible for 44 % of the total return of the last 80 years of the index.
https://us.spindices.com/indices/equity/sp-500
Even a poor Financial advisor can meet or beat the 7.95% benchmark if they aarent greedy and churn the investors account or time the market to maximize his personal profit. The link above will give you all the information you need to learn, it’s doubtful you will read it though.
Its a bit more complicated managing billions of dollars with regular redemption’s and a multitude of asset allocation models , than your a 1/4 of million stock portfolio, clearly you should see a financial advisory for for details as well as take a investing 101 class in your local community college .
Even a poor Financial advisor can meet or beat the 7.95% benchmark if they aren’t greedy and churn the investors account or time the market to maximize his personal profit. LOL There are no poor financial advisors. There are only poor clients.
Thank you 9:20. I think you expressed how so many of us feel. For some reason, the teachers and/or their union do not seem to understand that many of us are really just treading water and have taken huge hits in this economy due to job losses, etc. There is no tenure, no contracts and no job security out here. The BOE seems to understand that we just can’t afford more in taxes to meet your demands. As stated above, if things were better for everyone, then we would not be so adamant in opposing some of your demands.