It is if you are tier 1. About a third of teachers are tier 2 and most wont make anywhere near what current teachers make at the same age due to changes in contracts. Plus you have to work 12 years longer. You take massive penalties on the pension if you retire before the target age. For example if you retire at 62 in new system, it is a 30% penalty on what you are suppose to get.
Mike Fitzgerald leaves York returns to Marist
- Thread starter EdgyTim
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It is if you are tier 1. About a third of teachers are tier 2 and most wont make anywhere near what current teachers make at the same age due to changes in contracts. Plus you have to work 12 years longer. You take massive penalties on the pension if you retire before the target age. For example if you retire at 62 in new system, it is a 30% penalty on what you are suppose to get.
Yes, this mediocre to poor tier 2 pension compared to the excellent tier 1 pension is going to change a lot of things. Those hired 2011 or later have no real reason to have to stay teaching in a public school system as they have to get to 67 to realize any meaningful benefit. Those in tier 1 can get out at 55. So in the next 15-20 years, almost all tier 1 teachers will retire leaving only tier 2 teachers.
So in the next 5-10 years it may be more common to see public school teachers willing to move to a private school. For those in tier 1, it would be foregoing a nice 75 percent of salary pension starting at age 55 or 56, so it would be crazy to walk away from that for a mid-career teacher. Now with tier 2 becoming more and more the majority of public school teachers every year, there is no major incentive to make people feel like they have to stay in the pension system for a fairly pedestrian new retirement benefit.
I agree with your assessment of tier 2 pensions and the affect it can have on teachers. I think we are already seeing this effect in the teacher shortages there is around the state. Start and make 40k with a much lower pension guarantee or get a 50k+ starting job in another sector and start maxing out retirement plans. As for Coach Fitz, not sure of what tier he is in, but if tier 2 and having a strong connection to Marist already, this may be an easier decision than some think.
He taught at Naperville North from 2016-2018 and then York 2018-2024. Definitely Tier 2 I would assume.
All.... Retired from the state and still a union steward with my particular union. All valid points on the tier pension system. I can't tell you how many times I had to sit down and explain to a fellow state worker who was doing the exact same work as his or her co-worker the reason Tier II was in play. Still drives me crazy to this day the "deal" was made. Ratsy
With a name like Fitzgerald, he oughta be able to do well selling the program in Mt Greenwood, Beverly, and EP. No knock on Coach D.
Generally, I agree with you, but I think much depends on the deals that he negotiated at both places. It might be closer than you would think.
For example, is he teaching at York and Marist? Or will he be in administration of some kind at Marist? The press release doesn't stipulate that. Assuming Marist is locked into a faculty tier salary model based on experience and academic credentials, they probably would have more wiggle room to negotiate salary for an administrator than they would for a teacher. Keep in mind that their ex FB head coach Pat Dunne currently works in fundraising at Marist and that Gene Nolan (ex- boys hoops varsity head coach back when Marist was known more for hoops than football) worked in admissions there. Similarly, Coach Desherow at LA is the VP of Admissions. That job alone, which he held before he became head coach, is probably paying him in the $125K ballpark.
Also, what about other potential income producing side gigs such as camps, summer school direction, etc.?
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Prior to this press release from Marist, was it public that Coach D was leaving Marist? I didn't see anything about it here or elsewhere. If so, I think it's very interesting that Marist knew about him leaving, didn't open up a public search, and was able to keep everything quiet while negotiating a deal with the York coach.
I wonder if the timing of the announcement a month after the placement test was intentional. How long have all three parties known?
I wonder if the timing of the announcement a month after the placement test was intentional. How long have all three parties known?
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I hear they have a few Fitzgeralds up in the northern suburbs too. I think they're called lace curtain Irish, although there's not too many shanty Irish in Beverly, EP, or MG.
It's my understanding that Coach D remains at Marist as a teacher, maybe at no cut in pay. What makes private schools different from the publics is that they can recruit wealthy donors as well as football coaches. I think most privates have a pool of discretionary funds, which allows them to survive and even, in some cases, to prosper and thrive.
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Ha! Love the shanty Irish reference.
Right, I meant leaving coaching there. My bad. Still, though, it's interesting that this all happened as it did without a public search, etc.
Coach D is a class act thru and thru. Quite frankly he’s worth more to the school as an AP Chemistry teacher than as a football coach. Being a former UofC grad he will be just fine. Marist will quickly be on the way up. We should start a new thread. All this young blood coming into the coaching ranks of the Catholic League will be really exciting to watch along w some bare knuckle recruiting moving forward. A path Marist usually avoids but could change w Fitz.
