When Louise Jordan walked through the doors of Abraham Lincoln High School in North Philadelphia 34 years ago, after landing her dream job as a special education teacher right out of college, she didn’t worry about her tiny salary — just $10,770 per year back then. It wasn’t a lot to live on, but if she kept contributing 7.5 percent of every paycheck into Pennsylvania’s pension fund, the state would support her when the time came to retire.
State pension obligations can be crushing. But corporate welfare costs more.
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