Benefits of the "Elected Class"

[Sooner75]

There's been an interesting story that's dominating the front page of the Fort Worth Star-Telegram (www.dfw.com). Last Monday, seems the Texas legislature courageously increased the already generous retirement benefits of statewide elected officials without resorting to a recorded vote.

Quoting the Star-Telegram:
"Under the bill, a lawmaker with 12 years service could retire at age 50 and immediately begin collecting $34,500 a year -- a $6,000 increase over current law."

The annual retirement benefit of a state elected official with 30 years of service can collect $86,250 per year.

Governor Rick Perry with 22 years of service in state elected office is now eligible for an annual pension of $63,250 -- an increase of $11,000.

Now comes the fun part.....on the front page of today's Star-Telegram (at the bottom under the fold)...the story headline reads "Lawmakers trim teacher pension plan after boosting their own."
Yes, that's right. On the heels of their own retirement benefit increase, they've effectively reduced the pension benefits for retiring Texas teachers.

Quoting the Star-Telegram again:
"Under the legislation, a state lawmaker with 26 years of service would be eligible to collect $74,500 a year, or about $6,200 a month, and receive health insurance from the state.

By contrast, a retired Fort Worth teacher with 26 years of service said she gets $2,043 a month after paying her taxes and a $100 health insurance premium."

Basically, retired teachers are going to get reduced benefits and no cost-of-living increases for probably two more years. Most teachers didn't pay into Social Security, so they're not eligible for that.

Now, both houses of the Texas legislature are controlled by the GOP, but there haven't been any Democrats down there in Austin who are notably up in arms about this. However, some Texans are taking note of this. I am somewhat encouraged by the Startlegram's sudden discovery of a backbone, and their repeated use of the term, "the elected class."