Retirement is an important issue to every individual today – especially as we move forward into times of economic uncertainty. Therefore, it is not surprising that Scott Taveau would work to ensure that Missouri’s public school retirement system was completely adequate. After all, those that work for the public school system should be able to receive their benefits as soon as possible. However, some disagree. In fact, many are questioning whether Taveau broke Missouri state rules concerning retirement. They assume that many public educators took too much or began drawing retirement funds too early. Because of their concern a lawsuit is in place. The next stage in this suit is set to begin with a full trial. This is a major victory for Scott Taveau, as it will allow his team to fully convey their side of the story.
According to the public school system, educators can retire and claim benefits when they work 550 hours per year. This equals approximately a half time job. Many teachers qualify for this and the public school system usually mandates that they set aside funds for retirement in addition to the money that the school will contribute.
Was Taveau Following The Rules?
It is hard to say whether or not Taveau was following the rules or not. However, the issue in his case involves a large number of contracted hours. Apparently, he earned over $90,000 in contracted money in 2008. It is difficult to determine where this money came from and if it should be part of the retirement funds or not. According to Taveau, this money came from “consulting fees” he charged. However, the retirement school system is currently investigating the situation to determine whether or not this is in fact the case. If it is not, Taveau may find himself in trouble in the future.