South Carolina Teachers, state workers would pay more for retirement ”” at a cost

South Carolina’s teachers and state employees are willing to pay more to fix the retirement system ”” but only if they get a raise first.

That’s the plan endorsed by the S.C. State Employees Association and the S.C. Education Association, which together represent 30,000 of the state’s 141,000 teachers and state employees.

The plan, which the groups submitted in writing to House and Senate subcommittees studying the retirement system, says teachers and state employees are willing to increase their contribution to the retirement system by 0.5 percent, but only if they receive at least a 2 percent raise ”” a “cost-of-living adjustment” for state employees and a “step increase” for teachers.

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Posted in * Culture-Watch, * Economics, Politics, * South Carolina, Economy, Education, Labor/Labor Unions/Labor Market, Pensions, Personal Finance, Politics in General, State Government, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--