- The projected additional funds over and above the "normal" budget.
THE PENSION CRISIS
THE PENSION BOMB
Due to the economic downturn, most taxpayers, including retirees, have seen a commensurate impact on their pension funds and savings. The pension fund for the teachers has seen a similar impact, however, unlike taxpayers, they have relief for their problem and it is the taxpayer. In the school budget years out to 2039, we have calculated the impact on the taxpayer, based on information provided by the state pension board, PSERS. They have provided projections of additional funds, over and above the normal budget, that will have to be added to make up the losses suffered by the teachers pension fund. Provided in the table accessed via the link below, you will see the impact projected out to the year 2039. We have asked for concurrence on these projections by the RTMSD, but to date, have not received a reply.