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I wonder if many teachers actually understand the hybrid plan to start with. Teacher pay, esp. with deductions for health insurance, is low when you are trying to support a family. That makes additional contributions hard to do.
The hybrid plan was never designed to succeed. It was a stop gap to a full blown 401k style plan for state employees, reducing pension liabilities and providing the GA with a large sum of money to give to large corps like Amazon to relocate here (because they really need the $$) If any state employee thinks that the GA cares about their service, they are sadly mistaken. The turnover rate for new employees is huge and all that remain are 55+ older state workers with no incentive to change the culture they created; and why should they, it works for them... but the bench in state gov is not very deep and the young are not sticking around for their nonsense.
By the time employees have all these payments deducted from their paychecks they are only taking home a small portion of what they actually earn. I am so glad I retired before this mess was implemented. Liberals at work giving with one hand and then taking with the other. There was no big problem with the old plan, Remeber the government is here to help (take back what it gives).
There is a big problem with the old plan..it costs lots of money. Not sure what this has to do with liberals. The new plan was designed by the Republican GA and push by Speaker Howell, who really did not think it went far enough. He wanted VRS completely eliminated, no more defined benefit, and move everyone to define comp.(401K) However, if you don't like the hybrid plan, just wait a couple more budget cycles, it will be gone and replaced with a 401K.
As a participant in the Hybrid plan, I can tell you part of the reason why my contributions haven’t increased regularly — the online interface is very frustrating. Several times I’ve gone in to make changes and could not get it to work. Trying to get assistance is also not easy. I can’t even figure out how much I have in the voluntary portion of my plan. So it’s very frustrating to be required to use the Hybrid plan and not be able to easily access information.
Maybe these employees actually believe it when a liberal or Socialist tells them they are either entitiled, or it is their right to a retirement paid by others, from some distant planet. Right lefties? Hallelujah, and period.
State employee pay in Virginia is ridiculously low in comparison to other states so start with that. When people can actually afford to pay for the basics then they can contribute more to their own retirement.
Melissa … you could be one of the 4 Socialist women of color that make Pelosi so nervous. Hallelujah, and period.
Look. We can’t pay for our own retirement when we have co pays and deductibles on our crappy health care ..... illegal people don’t have co pays and deductibles do they.... and we cannot continue like this
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