A Secure Retirement: ; Bill Combining Teacher Plans Makes Fiscal Sense

Charleston Gazette › April 05, 2005

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Summary

West Virginia teachers deserve a safe, secure and predictable retirement plan. However, for the last 14 years, newer teachers entering the profession and veteran teachers who opted out of the older Teacher Retirement System (TRS) system, have not enjoyed this benefit. Under the newer teacher "defined contribution" system (TDC), employees are at the mercy of market instability, uncertainty and potential downturn.

Pending in the Legislature, House Bill 2984, consolidating TRS and TDC, not only would end this uncertainty, but make sound fiscal sense for the state of West Virginia.

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A Secure Retirement: ; Bill Combining Teacher Plans Makes Fiscal Sense

Critics offer that the newer TDC system mimics the private sector with its 401(k) benefits, and that teachers should assume the same risk. However...

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