On Friday, January 21st, the ND House Government and Veterans Affairs Committee will hear HB1258, which would create a defined contribution retirement program for teachers and would close the current defined benefits program.
In other words, the bill would create a 401k-style plan that is popular in the private sector. When the stock market goes up, benefits go up; when it goes down, benefits go down.
The stock market collapse of 2008, along with other factors, caused the teachers' fund to tank. The unions are now looking for a bailout and looking to keep the gravy-train running!
So when your 401k went down and you had to trim your household budget, the teachers had nothing to worry about. NOW they have the nerve to ask you, who has less, to bail them out!
Tell the ND House Government and Veterans Affairs Committee that this nonsense has to stop!