There just never seems to be enough money to fund public education.
Teachers with a master’s and 30 years on the job make nearly $118,000 in Bronxville and are entitled to retire with an $80,000 a year state pension, or more than two-thirds his or her final salary. Try finding that deal in the private sector. Bronxville teachers don’t have to worry about saving their own money for retirement, or about doubling as investment analysts, combing through the fund choices a 401k plan might offer, hoping to make the right picks to ride the booms and avoid the busts so enough will be there for their golden years.
This is a simple math problem. Paying the 150 teachers that are on the job is one thing, but taxpayers are paying retired teachers at the same time who aren’t teaching anyone. And… Taxpayers vs. Teachers — Mises Economics Blog.