Discussion in 'General Education' started by Master Pre-K, Apr 1, 2018.
Apr 3, 2018
Chicago, Illinois, That's the home of my boy Scruff!!!
I am hoping for around 60ish. So much depends upon insurance. Right now my district provides teachers who retire after at least 15 years of service (after age 55) with a lump sum to help cover insurance costs until Medicare kicks in, but who knows if that will still be in place?
Realistically? Maybe late 60s. That would give me full retirement in Virginia+supplemental county retirement pension, plus another 10 years accrued in another state's retirement system.
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Apr 4, 2018
I used to take British school kids there on visits and then host the American kids when they came to Birmingham. Sadly the banking collapse killed all our funding. We were mainly linked with Kelvin Park, Charles Prosser and Walter Payton Highs and Hanson Park elementary.
YOU got it.
Like others have stated, in California and some other states, SS benefits are reduced (windfall elimination) for those receiving a teacher's pension. After I retired, I learned that I needed a part-time job that would allow me to gain the 6 quarters that I was short in order to collect from SS - requires a minimum of 40 quarters in all. I had contributed 34 quarters to SS before going into teaching. Even though I'll be receiving a reduced amount, it will still cover the cost of my Medicare supplement which is better than nothing at all.
Do you mind if I ask at what age you retired?
Sure, 63 years young.
Apr 5, 2018
Can I borrow that line BeenThere???
I want to retire when I can afford to be comfortable, hopefully 63 years young!
2040-2041 school year will be my last. I'll have 30 years and be a few months shy of my 52st birthday. How will I be able to do that? I already have 40 quarters, I'll qualify for a full pension, I won't be able to get medicare or social security for a while but I will have my house paid off in 5 years - long story, close family member with a lot of money, so the largest chunk of anyone's paycheck I won't have anymore, so why not?
You must be very young! And you have a house almost paid off! Why can’t I have a rich relative?! You are already way ahead of me...
IL teachers - is there a way to opt out of TRS? I read it's only beneficial if you work in the public schools for at least 5 years. If less, then you don't see/get any of that. And we don't plan on staying in IL for the next 5 years.
You'll make it - just think self-preservation every day you're at work! Teachers must learn to think of their own welfare more and not focus so much on their kiddos, otherwise it will be a losing battle against burn-out.
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