Writer misrepresenting absurd public pensions
In response to a recent letter correcting the math on teacher pensions, I think a couple of important points were missed. First, the title of the letter, “Teacher pensions are taxed at federal level,” could just as well been stated as “Teacher pensions are not taxed at the New York State level.” The writer seems to have left that information “between the lines.”
I think the point of the original letter was the absurd status of public pensions. That would include the very generous benefits in addition to tax benefits. As to the health insurance issue, I think we all have to pay for that.
Incidentally, after a career in private industry, my “pension” – mostly from my own retirement savings – is about 20 percent of what the subject in the original letter receives, and that is taxed at both the federal and state levels. How long would it take for that to add up to a million dollars?
Donald R. Barber