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in the teachers’ pensions (whether it be the pension fund board trustees or the teachers themselves) felt that they already had a good thing going. The Chicago Teachers Pension Fund had no need to make ads like this persuading employees to choose pensions, as their own system pre-dated Social Security. (Flickr Tobias Higbie)“In the ‘50s,<a href=" " target="_blank">cheap air jordan shoes< a>, it didn’t make a lot of sense [to join Social Security] because you had an established plan that was 60 years old. 1895. Sixty years old,” Huber says. “It was working well,<a href=" " target="_blank">cheap jordan shoes< a>, so why would we? Why would we go into Social Security?”?Let that sink in for a moment. If you don’t feel the teachers made the right call, consider the timeframe under which they made their decision. According to the Centers for Disease Control and Prevention,<a href=" " target="_blank">cheaprealjordansretro< a>, the average life expectancy of working-age people at that time was in the range of 60 years. So,<a href=" " target="_blank">cheap air jordan shoes< a>, from the Chicago teacher’s viewpoint,<a href=" " target="_blank">cheap jordans online< a>, his or her retirement system had been humming along for (literally) the equivalent of a lifetime. The federal system ― not the teachers’ own ― was the newcomer, the less-tested retirement plan. The logic is similar for teachers outside Chicago. The Illinois Teachers’ Retirement System,<a href=" " target="_blank">real cheap jordans retro< a>, or TRS, was created in 1915 to cover teachers in the suburbs and downstate Illinois. “The decision was made that teachers would stay out of Social Security because Teachers’ Retirement System was providing a comparable benefit to the federal Social Security plan,” says Dave Urbanek, a spokesman for TRS.<ul>
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