As CalSTRS rates are more than doubling, squeezing school budgets, an inflation-protection account that keeps teacher pensions from dropping below 85 percent of their original purchasing power has a large and growing excess of funding, $5.6 billion last year.
Double-digit salary increases for San Francisco educators proposed under contract terms agreed to over the weekend are among the highest being offered in the state, union and school district officials said a day after the two sides signed off on a tentative agreement. If approved by the 6,200 members of the United Educators of San Francisco, the city’s school workforce of teachers, early childhood educators, librarians, nurses, classroom assistants and social workers would receive an 11 percent raise over three years, in addition to annual bonuses. The overall compensation package would grow to 16 percent pending passage of a parcel tax that many city leaders hope to place on the ballot next year.
U.S. workers boosted output per hour this summer at the best rate in three years, a sign that long sluggish productivity gains might finally be breaking out. Nonfarm business-sector productivity increased at a 3.0% seasonally adjusted annual rate in the third quarter, the Labor Department said Thursday. The gain was better than economists had expected and the largest quarterly improvement since the third quarter of 2014. Productivity is on pace to grow this year at the best pace since 2010, when the economy was first emerging from a deep recession. That’s an improvement from near zero much of 2015 and 2016.
Medicaid pays for elderly and disabled individuals who need support with activities of daily living to receive support at home from a caregiver. But California and 10 other states deduct union dues from caregivers’ Medicaid payments, in many cases without the knowledge or approval of patients and their caregivers. Given the fact that many caregivers work in their own homes caring for loved ones and relatives, unions typically have little role to play in exchange for the dues they collect.
Compensation costs increased 0.7 percent for civilian workers, seasonally adjusted, from June 2017 to September 2017. Over the year, compensation rose 2.5 percent, wages and salaries rose 2.5 percent, and benefits rose 2.4 percent.