Double-dipping teachers face take-home pay cut

From KOB-TV.com - By Barry Massey (AP) - A new state law will take a big bite out of the paychecks of educators who retired and then returned to work for New Mexico schools and colleges while continuing to receive their pensions. About 1,300 public school teachers and other educators covered by the law must make payroll contributions - as much as 11 percent of their salaries next year - into the state's educational pension fund starting next month. However, the payments won't improve their future retirement benefits. The employee contributions will help the state permanently save nearly $5 million a year because employers, such as school districts, have been covering the pension costs. Read more

Double-dipping teachers face take-home pay cut