Retired teachers get legislature update

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GONZALES — Legislature aid and education consultant to State Representative John Cyrier, Alonzo Wood, spoke to a room full of retired Gonzales teachers, Tuesday, offering retirement planning strategies; and filling the former educators in on pending legislature that would affect the state's growing population of retired teachers.

Wood was a science teacher for 17 years, in administration for 24 years then, after retiring in 2007, went to work at the capitol for former State Representative Kleinschmidt, and now Cyrier.

According to Wood, some discussion in the TEXAS House of Representatives has centered around a transition from the typical Teacher Retirement System (TRS) designated retirement plan, to a 401k retirement plan.

According to Wood, when a teacher retires in Texas, that educator gets a benefit package for life. Even after exhausting monies put into that teacher's retirement fund, the teacher continues to receive benefits.

"To use the fear of former astronauts, 'Houston we have a problem.'," Wood said.

Wood accounted for there being 86,400 seconds in a day and proclaimed the United States is experiencing a phenomenon, which occurs every eight seconds.

"A baby boomer turns 65 every eight seconds and that will continue for the next 13 years," Wood said. "They are not necessarily retiring but they are retirement age. That's a boat load of teachers."

According to Wood the typical TRS retirement runs out quickly and leave the burden of payment on the state, leaving planners thinking the state will not be able to sustain payouts as they are currently handled by TRS. The 401k plan would combat this problem.

Wood said one other positive about the 401k plan for retirement would mean higher teacher salaries.

"To date only superintendents, principals, athletic directors and band directors have any say so in their salary," Wood said. "The 401k would allow give teachers a chance to negotiate their salaries for the first time.

Wood has a feeling that the 401k subject will not be high on the to-do list for the House.

"There does not seem to be a lot of interest," he said.

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