After reading Mr. Rowland's letter in My Turn, I believe I have a bridge to sell him.
Mr. Rowland can paint it any way he wants, but we still have a pension crisis. I just couldn't believe it when he states the average pension is only $24,500, really only $24,500.
I would like Mr. Rowland show me where in the private sector where you can get an average pension of only $24,500; pensions are a thing of the past. I'm sure Mr. Rowland will say they put 7 percent of their pay every week towards the pensions, but will probably leave out the part when they retire they get most of it back. If anyone would like to figure out what a teacher would get upon retirement you can go the website http://php.app.com/PAteachers11/search.php.
To calculate the pension:
n Determine the final average salary by adding the highest three years' salaries and then dividing by three.
n Multiply the final average salary by 2.5 percent.
n Then, multiply again by the number of service years.
n Divide the previous amount by 12 to determine monthly benefit amount.
After calculating a pension, you decide if we don't have a pension crisis. If you don't think there is a pension problem. I have a bridge I'll sell you