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TERI: The Third Time Around
If there had been thinking before “old TERI,” it might have
been legal from the start. If there had been thinking before “new TERI,”
it might have been legal from the start. But the cost of thinking is high -- especially if it's the Legislature. [May15, 2006]
It Was Good to be Old -- Twice
TERI was a very peculiar
animal – jolted to life through an act of the General Assembly. It suddenly
grew to proportions that were never conceived by its creators. There was
talk of killing it before it took over the entire state – but it had gotten so big that killing it would have been
political suicide for its creators. Then, it died a quiet
death. But wait…an autopsy was requested with the intent of bringing it back to life – if the cause of death was ruled unnatural. Can't you see it now – villagers with torches, the sky dark and disturbed,
the monster climbing the windmill… [July 10, 2005]
A few years ago, the South
Carolina Legislature realized that the coming educator shortage would be severe in our state.
They enacted the Teacher and Employee Retention Incentive Act (TERI) to offer some
economic incentive to educators who would continue to work beyond their normal retirement time. Now, there is concern about the financial
impact that TERI will have on the South Carolina Retirement System (SCRS). There are two possible comparisons for determining TERI’s impact on SCRS: (1) The educator TERI’s or retires outright, and (2) the educator TERI’s or continues to work for five more years without TERI. Neither breaks the
system. So, why is TERI being turned into a political issue? [March 3, 2004]
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