Today, the AJC reported a large pension contribution increase by the state for the TRS in Georgia ($223 million).
In 2014, I wrote an article about public pensions in Georgia. It was published by The GA Public Policy Foundation. It noted that contribution demands would increase.
The current system favors teachers who hang on forever and the administrators who run the system. Both will do whatever they can to protect the status quo. And, the administrators know the actuarial aspects make the matter too complex for the average Joe to understand – thus providing them the necessary smoke screen.
Back in 2014, GA was in the middle of the pack in terms of pay for public school teachers but on the generous side in terms of pensions.
Some other things:
GA Post-retiree medical, which is hard to distinguish from a pension, is almost totally unfunded.
Counties have been under-funding their pension plans for decades.
