The myth of the cushie teacher retirement

[dsc]

I, at the time of my retirement, will be a better than averagely paid North Carolina teacher. I work in a high pay district, have my Masters degree, and am National Board Certified. Without longevity I would be making about an average of $62,000 for my last four years on today's wage table. My longevity would be 3.25% making my total salary about $64k. My pension would be about 30k a year off of that. Yep 30k at age 62. I won't be buying the Hope diamond. I will also get my social security.

Now, what will I have paid in. I pay 7.65% in SS taxes and 6% in retirement. The state pays a fluctuating percentage depending upon investment income (8% this year) plus the standard 7.65% for SS. I don't think my benefits are excessive. I pay a substantial amount toward them, the rest is deferred compensation from the state.

[Codeine]

1. That's really not a bad pension at all.

Combined with SS that seems a fairly reasonable retire income.

[dsc]

2. I am not saying it is horrible

but people make it sound like teachers are getting CEO style golden parachutes.

[Codeine]

7. Ah, I get your drift now.

Yeah, the anti-teacher contingent on DU can get fucked. I still remember my best teachers very fondly.

[dsc]

9. It has gotten a bit out of hand

[proud2BlibKansan]

4. And well-deserved

[Codeine]

6. Totally agreed.

Teachers are heroes.

[rfranklin]

3. You were promised it by contract, you earned it, you paid toward it...

People who attack teachers are idiots who are buying into the right wing propaganda that is being used to steal money from pensions and Social Security and will probably be used to tax us more while the uberwealthy are laughing all the way to the Swiss bank.

[Ilsa]

10. Ditto. nt

[Starry Messenger]

5. You'll just blow it all on food and other fripperies.

:sarcasm:

[bobbolink]

8. At 62? Likely it will just be blown on needless health care.

need I add.... :sarcasm:

[doc03]

11. There are many retirees from union jobs in the private sector

that make more than that and didn't graduate high school. That pension doesn't sound unreasonable to me at all.

[Raschel]

14. Yes. And they also loaned their bodies all of those years to the company.

Which is why labor used to be paid a better wage than it is now.

By the time they retire many of their body parts are worn out and many have had surgery due to wear and tear. Many die shortly after retirement as well.

They used to have good health care for this reason also.

Not saying teachers don't deserve a good pension. Just saying that just because one doesn't go to college it doesn't mean that their pension is was any less worked for.

[doc03]

15. I don't make that much myself since my employer went

bankrupt twice but many in my industry do make that kind of pension. I know all about wear and tear on the body, we were exposed to about every carcinogen known. I have heard shift work alone takes 10 years off your life.

[Critters2]

12. So, you'll retire at 62? Teachers in Illinois retire at 55,

and somehow, that I don't understand, pay into a pension fund but not into SS.

[dsc]

13. I am a later in life teacher

or else I would be retiring earlier. As to the SS issue, if your state's plan predates SS then you don't pay in.

[DirkGently]

16. Not only modest and well-deserved, but pensions benefit all of us.