Senator Mills discussed Maine’s outdated pension system on Maine Senate Republican Radio. He advocates portable pensions for new hires so public employees are not imprisoned in jobs they don’t want.
It is a shame to continue hiring new workers and teachers into the existing outmoded system that so exploits the young and ensnares the old.
For more on Maine’s pension system see Senator Mills’ 2008 editorial: Imprisoned by Public Pensions
I am a teacher from N.Y. who has just recently moved to Maine. I will be substituting this year with the hopes of obtaining a public school position in the fall of 2010. I sincerely agree with your position Senator Mills and hope that this ridiculous law will be changed by then. If the University of Maine is willing and able to do this I hope that they will serve as an example to the public sector.
I am obviously new to the rules here in Maine… Question: This will not effect the Social Security that I have collected up until now…am I correct?
Dear Senator Mills,
This is my second question this morning.
I have a small pension from The Diocese Of Rockville Center in New York.
Will it be taxed additionally in the state of Maine?
Thank you for your time.
Lisa Vogel
Hi Lisa,
Thank you for listening to the pension talk and posting on the website. To answer your questions:
If you have at least 120 quarters of coverage under Social Security, there is no federal offset for any state pension benefits you may draw. If you have fewer than 120 quarters, then Social Security may reduce some of your benefits in proportion to any Maine teacher pension you may later receive.
This is a matter of federal law. Maine can only respond by covering its own teachers and public employees under Social Security which is the right thing to do.
Maine has an income tax, but I am pretty sure there is an offset for any state tax you may have to pay in NY.
I hope to meet you on the campaign trail.
Peter
I believe public sector pay, benefits and pensions that are twice as high, on average, than private sector employees is part of the state and local budget problems we currently have. Why should we make it more generous or easier to keep than the private sector? How many people in the private sector actually have a pension?? How many in the private sector can retire at age 55 like some teachers can??
How much are we paying per teacher in pay, benefits and pensions and what are the taxpayers getting for their hard earned taxes?? We don’t even get a choice to send our children to the best schools out there or homeschool them. We have to pay into the same antiquated system that continues to ask for more and more from us every year, yet seems to give us less and less or that we don’t even use.
Want to know the reason why this state/towns are a mess fiscally? Because they won’t attempt to REALLY get their OWN houses in order, like the rest of us have to.