I understand the gravity of Rhode Island’s financial woes. And I realize that dramatic change in the way we do business is necessary to restore our financial well-being. So much of our tax dollars now go directly to salaries and benefits of state and municipal employees. I think about this often as I drive over roads in miserable condition or pass by decaying school buildings. In the 20th century we invested in the infrastructure of our cities and our country, and in the 21st century we cannot even afford to maintain them, never mind modernize or expand.
It is difficult, however, not to think of my own financial future. I did not become a school teacher for the pay, or the benefits, or even the summer vacations. I became a teacher because I love working with kids, and the satisfaction that comes with seeing and helping kids grow. I’ve been teaching long enough to now know former students as adults. It is amazing to see their successes, and who they have become: professionals, parents, soldiers, citizens. Each provides further evidence that, professionally, I chose the right path.
I cannot, and will not, teach forever. Like everyone else, there will come a time when retirement will be the best option. I have contributed nine percent of my income each year towards a state pension that will enable me to retire when the time was right.
And so, as we discuss pension reform in Rhode Island, I have, literally, a vested interest. I understand that our current pension system is unsustainable. Changes must be made to protect the financial condition of the state and its taxpayers. For too long the pension system was abused, with people retiring too early and buying years in the system they did not earn. Unfortunately I will have to pay for these abuses. I wonder if my fellow teachers, and state employees, realize the union brethren that came before us were the abusers, and that we will suffer because of it.
It is crucial everyone understand one thing: I do not pay into the Social Security system.
Teachers in my community, and several others, contribute to the pension system instead of Social Security. We protect these pensions like it is all we got, because it is.
We need to discuss pension reform. But we should be cautious and deliberate, and understand people’s lives depend on it. I hear some of my fellow conservatives talk about pension reform as union punishment. The unions deserve to be taken to the woodshed. However, the teachers who have invested a significant portion of their income over the years also deserve a fair and reasonable retirement.
I had great hopes for General Treasurer Frank Caprio. He seems a reasonable man, both politically and financially. I thought Caprio would develop a compromise that protects the financial condition of the state while fairly treating teachers and state employees. Today’s opinion piece by the treasurer suggests otherwise. In it he touts what he has done, but not much of what he will do as governor. Despite the columns’s title, “Time for public pension reform in R.I.,” Caprio offers only this as to reform:
As a member of the House Pension Commission, I also advanced a proposal that Rhode Island move to a hybrid plan modeled after the federal government’s retirement plan. This plan would reduce future pension benefits by half, add a cost-effective 401(k)-style plan, and save the state billions of dollars over the next 20 years. This solution is a pivotal part of my platform for governor.
More words are spent defending himself against criticisms from the state Republican chairman than addressing pension reform. I found nothing about pension reform on his campaign website. A two-page plan on the General Treasurer site is more confusing than informative, and lacks any significant detail.
Mr. Caprio and all the candidates for governor must outline in detail their plans for state pension reform. And they must do so in language that all Rhode Islanders can understand. Union leaders must be open-minded and considerate when discussing these reforms. And taxpayers must understand, whether they like it or not, they have committed to these employees a fair and reasonable retirement pension.
I fear the worst, but hope for compromise. My future certainly depends upon it.
























