Wharton's Olivia Mitchell and Leora Friedberg of the University of Virginia discuss the $4.4 trillion public sector pension shortfall.
Not Enough time, Not Enough Money
Sanitation workers, firefighters, teachers and other state and local government employees have performed their duties in the public sector for decades with the understanding that their often lackluster salaries were propped up by excellent benefits, including an ironclad pension. But Moody’s Investors Service recently estimated that public pensions are underfunded by $4.4 trillion. That amount, which is equivalent to the economy of Germany, accounts for one-fifth of national debt. It’s a significant concern for public employees who were banking on a fully funded retirement to get them through their golden years.
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Subject:King William School System Pay Raises are out of hand. .
The following SALARY data was provided by David O. White, Ed.D. Superintendent of Schools
King William School system did not want you to know this, but would you be surprise to know that Dr. White is disappointed that the King William T.E.A. Party got the data and published it in a local newspaper. I guess Dr. White is surprised and disappointed that what is public information has been made available to county residents. What should be of a surprise is that on average every employee received an average raise every year since 2011 of above 2% some got more than 4% and they continue to want more. Just how much of a raise have you received since 2011? These raise do not include other benefits that were also increased, such as paying more of the employees’ healthcare and pension costs. Dr. White does not seem to understand that he works for the citizens of King William and we are the ones paying his salary.
King William County Public Schools - Selected Information
Base Salaries - FY11-12 and FY16-17 - Total Percentage Increase from 2011 to 2017 - Average Annual Increase in 2017
The Public Sector Pension crisis (and it is a crisis) has grown proportionally worse....much worse in a relatively short period of time. The accounting games being played by those responsible for these public sector plans, from the foolish and unrealistic rates of returns used in the plans testing assumptions, to the unwillingness of public sector employee unions who refuse to even consider modest changes in the plans benefits are going to lead to a major meltdown when the next market correction inevitably occurs. Just where will the States turn when the plans can not pay promised benefits ? $ 21 Trillion in national debt I doubt Congress will be in much of a mood to provide relief...........so the States will turn to US.
It then begs the question why are localities adding OPEB ( Other Post Employment Benefits) when the pension obligations alone are so dire ? Why do the King William County School Board's members continue to duck our invitation to speak at one of our meetings and answer some questions about these supplemental benefits they are handing out ?
Making matter worse at the local level is the addition of supplemental benefits in the public schools, falling under the banner of OPEB (Other Post Employment Benefits) King William School Board members have been repeatedly invited to come and speak at one of our meetings to answer some tough questions about King William Schools funding of these promised benefits. To date nothing but silence. Why---if the local OPEB is on sound financial footing would they be reluctant to come in and explain and show us how King William tax payers having nothing to fear.yet they do not.
In Chesterfield this year the scam was exposed, detailing in a RTD series how Chesterfield County elected officials and their own school board has buried the magnitude of the problem in Chesterfield until a few brave souls aware of the truth came forward and spilled the beans, leaving Chesterfield taxpayers on the hook for tens of millions of dollars of new unfunded liabilities.
To assist you in your direct contact with your district's member of the School Board,
Making the case for Public Charter Schools
12 October 2017, King William, Va
Speaking to a meeting of the King William T.E.A. Party, Antione M. Green, a Senior Advocacy Associate with the Foundation for Excellence in Education, presented a powerful case in support of Public Charter Schools in Virginia.
“We must redefine what public education means and how we’re going to meet the individual academic needs of today’s school children,” Green said. “This is why charter schools are a critical element of making our country greater for our children and grandchildren.”
Green, a key figure in the creation and subsequent success of Richmond's Patrick Henry Science and Arts, Virginia's first elementary charter school.
“What started off as a school with just a little over 100 kids,” he said, “now is serving more than 300 children, with over 200 on the school’s waiting list.”
Noting that there are only nine such charter schools in all of Virginia when North Carolina has 160, Green asserted that children in chronically failing public school systems will be far better off in charter schools.
“Why aren’t we in the greatest state in the nation taking advantage of this k12 reform that has been battle-tested and data proven to improve the academic outcomes and help meet the academic needs of our young people? This model gives our teachers the flexibility and autonomy to teach new innovative methods to reaching our kids. No more one-size fits all for teaching and providing instruction with the expectation that all kids learn the same.”
Responding to the critical question of what concerned citizens can do to overcome opposition from local public school authorities and the Virginia Education Association, Green cited the foundation's legislative proposal for creation of regional public charter school divisions.
“Public Schools need some competition,” he asserted. “Nothing else will bring down costs or improve declining performance. It's time to end the government monopoly. Public Education has become a bureaucracy that needs to be reined in, and competition works to improve quality and to lower costs.”
More information on the Foundation for Excellence in Education's legislative efforts and education advocacy is available at facebook.com/ExcelinEd
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What are charter schools?
Charter schools are tuition-free public schools open to all students. They are publicly funded and held
t o state academic and financial standards. Unlike traditional public schools, however, charter schools
are run independently of school districts and, instead, operate under a performance contract with an
authorizer (a district, the state, or another approved entity).
Click on Our Link to read more
Public Charter School
or go to
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Subject: An Open Letter To The King William T.E.A Party Critics. .
Once again as the budget season rolls around we have the usual suspects lining up to take
pot shots at the only organized opposition in King William County to the run-away freight
train A.K.A, big government. In recent days our website has received several caustic
comments/letters that illustrate the absolute ignorance of people who know nothing of
which they speak. Convenient pawns used by the Bureaucrats. A Case in point.
One writer who sent the e-mail to our website let us know that she was inflamed….but it
was at our group because……… “ all you do is tear down what others try to build up,
specifically our children and our school system, I will not allow you to put our future
(our children) at risk .
Rational deliberation and a thorough analysis of the facts surrounding budgeting is what we
do, not the emotionally charged rants that “ it’s for the children”.This emotional blackmail
strategy employed by those that have no knowledge of the facts IS OVER. Public school
spending is now being put under the microscope, particularly the vast sums of taxpayer
dollars that are often spent in very wasteful manners. I seriously doubt if one were to ask
this woman how many students were in the 4 schools, what was their budget last year, how
many full time employees do they have, or what percentage of the budget goes to
salaries/benefits she could correctly answer any one of those. Yet she rails about
“our children’s future” .
According to the Comprehensive Annual Financial Report page 88(C.A.F.R)in 2007 local
funding expenditures in the 4 schools were $5,830,758. By 2016 that number had ballooned
to $10,451,449.00 , almost doubling. It is difficult for anyone to suggest that the schools
have not been adequately funded, particularly given the stagnation in school enrollment
Now the assertion is made year after year by KW School officials that MONEY = OUTCOMES.
Let’s examine that thesis a little closer.
At the Joint K.W B.O.S/ School Board Meeting Thursday March 9, held at the Hamilton Holmes
Middle School the following findings were delivered by Dr. David O. White, Superintendent.
1. Math Scores are falling, to a point where one or more schools accreditation are under threat
2. Remedial classes are being enhanced for reading, writing and math
All this over a period where expenditures nearly doubled, and classroom time is spent …..raising money for the Animal Shelter or picking up trash ?
Let’s look at where the money goes using the request this year for an additional 1.3 million
in local funding, in a county with a falling population and a decline in student enrollment
The FY 2018 Budget request by the School (asking for the 1.3 million dollar increase
in local funding is going just where you ask ?
$753, 130.00 to salaries…………..and $ 197,000 in health insurance premium increases
that they expect local taxpayers to pay for (while we deal with our own health insurance costs)
…………. So of the 1.3 million dollars in additional money they are asking for almost One
million of it is going directly to their own pockets in pay raises and shifting their insurance
premiums to you…..John Q. & Suzy H. Taxpayer
As for the threat to “our children”…..maybe this lady should sign up for some of those
remedial math classes and focus on debt………….that’s the threat to your children.
King William T.E.A Party
(Taxed Enough Already for the unenlightened)
The Richmond Times-Dispatch obtained local,
state and government employees’ names,
job titles and salaries using the state’s Freedom of Information statute. As
required by law, the governments and school
systems provided information for more than
The FOI request for the fiscal year that
began July 1, 2013, and ended June 31, 2014,
is part of The Times-Dispatch’s
ongoing effort to report to you findings about
government spending and the use of taxpayer
money. The newspaper used the data
to create this searchable database.
The Times-Dispatch removed part-time workers
and those reported as less than $10,000 a year
before calculating the median salary of $44,056.
The names of employees who fall below that median
are not included in the online database.
To Read the Times Dispatch article and Information:
(This will put you on the last page of the King William
county information. Click on "Search Again" to view other
local county salaries)
Click on Our Link to start a new search
King William "TEA" Party
(Taxed Enough Already)
What Can I Say ?
If You like What we do - Your Donations will Make it Happen !!
How To Donate:
Mail A Check:
Payable To - King William Tea Party Inc
King William Tea Party Inc.
106 Cherry Hill Circle, East
Aylett, VA 23009
Come to Our Meetings and Donate There.
How are your Donations Spent?
1. The Materials that create the Yellow signs you see around the county.
2. The ads and inserts you see and get in the local Newspapers.
3. Some of our Meetings call for space to be paid for.
Not a penny of the Donations goes to a salary for any of our volunteers and officiers.
In fact they donate their materials, time and talent without protest and all for a reward
of knowing they are among the last defenders of the freedoms we were given by our Founding Fathers.
If our Tax Dollars were spent in like manner - There would be no National Debt.