Board rejects proposed change to teacher pensions

ATLANTA - A state board has rejected a proposed change to the way Georgia doles out teacher pensions.

The board of the Teachers Retirement System of Georgia voted unanimously Wednesday to keep a 40-year-old policy that guarantees retirees 1.5 percent increases twice a year.

The vote was met with a chorus of cheers from dozens of retired teachers standing outside the board room.

Gov. Sonny Perdue's office had suggested the change out of concern that the retirement fund won't always be as financially stable as it is now.
Retired educators say the move would have shortchanged educators who paid into the pension plans their entire careers.