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Old 07-19-2007, 04:37 PM
ramtuf6 ramtuf6 is offline
Join Date: May 2007
Posts: 26
Teacher retirement $$$ VS Social Security$$$

Questions for those who are experienced teachers and those who've recently signed contracts.

I may be mistaken, but the way I understand it is that a teacher (Texas) cannot draw both teacher retirement pay and social security (SS) pay.

As a a teacher, is SS taken out of your check monthly or not?

After working outside teaching for more than 25 years, I'm fully vested in SS. Are they saying that I will lose that if I draw teacher retirement.

If that is the case, can I chose not to be involved in a teacher retirement system and continue contributing to SS....LOL, hoping it will be there when I retire for good? Thanks


Old 07-19-2007, 04:43 PM
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Caesar753 Caesar753 is offline
Join Date: Jun 2007
Posts: 12,439
In some states you can have both. In NV, we do. They take SS out of our paychecks, and the district pays into our private retirement on our behalf.

And I'm not entirely sure how SS works, but I think that it works based on how much you put in. If you contributed XXX amount of dollars over XXX amount of years, you're eligible to draw from it once you reach the required age--even if you began working for a place with a pension program instead of SS.

I could be totally wrong and I expect to be corrected if I am. I'm not super concerned about SS, though, because I'm young and doubt it will still be around when I need it.
Old 07-21-2007, 05:25 PM
Master Pre-K Master Pre-K is offline
Join Date: May 2007
Posts: 5,561
Preschool Teacher
I lost my teacher retirement because I owed back taxes, and the state snatched it away!!!

I would think that state retirement funds should be separate from federal social security.

And, I am also fully funded with SS, but worried because these rinky-dink jobs don't have much of a pension or retirement program.

The new age limit is 65, but full retirement is 67 for me!

Why don't you call, write or check website to be sure??
Old 07-21-2007, 06:01 PM
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Hamster Hamster is offline
Join Date: Jul 2007
Posts: 275
4th Grade Teacher
In Illinois, you either get SS or TRS but not both. I lost 9 years of SS.
Old 07-21-2007, 06:14 PM
Master Pre-K Master Pre-K is offline
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Posts: 5,561
Preschool Teacher
Hi Hamster..

Really??If you are a teacher aide, or paraprofessional, you have their state retirement system too. It is also for librarian workers and some other state workers. CPS (chicago public schools) has its own system. If you sub or work for any state school district, your are in TRS.

I'm sure I have way more credits in SS! And since they took previous TRS, I guess I will get all SS.

I hear you can still work part time, and get your SS too. I know a lot of 70+ people who still work!

BTW are you close to Chicago or somewhere else in IL??
Old 09-27-2007, 09:39 PM
Master Pre-K Master Pre-K is offline
Join Date: May 2007
Posts: 5,561
Preschool Teacher
well, actually subbing1, aides are not in TRS but, the have their own retirement system, IMRF Illinois Municpal Retirement Fund

Other IMRF benefits related to your refund
If you have fewer than eight years of service credit, your IMRF contributions will be returned to you upon request. Keep in mind that if you take a refund of your IMRF contributions you forfeit your right to any other benefit from IMRF.

If you have eight or more years of service credit and are:
Less than age 55 - -your IMRF contributions will be returned to you upon request. However, if you leave your contributions on deposit, you will be entitled to a pension at age 55.

Age 55 or older -- and if your IMRF service qualifies you for a monthly pension of $30 or more, you cannot withdraw your contributions, but instead will receive a monthly pension.
Reciprocal service credit and refunds

If you have 12 months of service credit with any of the 13 reciprocal retirement systems in Illinois, all of your service credit can be combined to calculate a retirement benefit. You may wish to contact IMRF for more information about reciprocal service credit before submitting your refund application.

Old 09-28-2007, 12:56 PM
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smalltowngal smalltowngal is online now
Join Date: Jan 2007
Posts: 17,271
In Texas you pay into only TRS. It takes the place of SS which from reports seems to be the best thing if what they say about losing SS is true.
'It is today we must create the world of the future.' Eleanor Roosevelt
Old 09-28-2007, 06:56 PM
Master Pre-K Master Pre-K is offline
Join Date: May 2007
Posts: 5,561
Preschool Teacher
Originally Posted by Subbing1 View Post
I know that!... It sounded to me as if you initially said TAs and such were in TRS.

However, I now see I was wrong. You said "their state retirement system too."

It was my fault for not reading well enough.
it's okay...we all have a little brain fog...

I had a friend who didn't know she could cash out her plan! I told her, and as soon as she got her check, she bought a new fridge!

If you go back to a system, you get back into plan and you can get your credits for prior years, buy paying back what you took out.

Hey, it may make a difference when you are 55 and ready to retire...but don't have the years.

$$$, retirement, security$$$, social, teacher

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