In Illinois we’re in a battle with the forces of evil to keep teachers’ pensions, pensions that were promised and that teachers paid for. To those like Ty Fahner of the Civic Committee and some members of the Illinois General Assembly, retired teachers are expensive.
We are much cheaper dead.
Which apparently occurred to Texas Governor and GOP presidential front-runner Rick Perry.
He had a plan to sell life insurance plans on retired Texas teachers. When the teachers died, the state would collect.
As a career teacher facing retirement in a year, this is beginning to impact my self-esteem.
According to the notes, which were authenticated by a meeting participant, the Perry administration wanted to help Wall Street investors gamble on how long retired Texas teachers would live. Perry was promising the state big money in exchange for helping Swiss banking giant UBS set up a business of teacher death speculation.
All they had to do was convince retirees to let UBS buy life insurance policies on them. When the retirees died, those policies would pay out benefits to Wall Street speculators, and the state, supposedly, would get paid for arranging the bets. The families of the deceased former teachers would get nothing.