tag:blogger.com,1999:blog-20674128.post4238025158885922137..comments2024-03-14T13:50:26.981-04:00Comments on Chaz's School Daze: Can Teachers Lose Their Pension?Chazhttp://www.blogger.com/profile/09964739497720364749noreply@blogger.comBlogger32125tag:blogger.com,1999:blog-20674128.post-27938171691795727022019-09-02T11:47:45.113-04:002019-09-02T11:47:45.113-04:00That is exactly how I calculated it! My numbers e...That is exactly how I calculated it! My numbers exactly. That is the only thing keeping me going!mkrstichttps://www.blogger.com/profile/10837543356762963749noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-85863335762759211782019-08-28T07:20:43.101-04:002019-08-28T07:20:43.101-04:00to 6:32 pm - Federal income tax is deducted from y...to 6:32 pm - Federal income tax is deducted from your pension along with UFT dues if you join) and SHIP(if you join). I also have two NYSUT insurance plans which are deducted monthly. When you reach Medicare age there is a deduction for Medicare. I also get a COLA which is a joke.<br /><br />This past year I had to pay an MRD which TRS calculated. Even with that deduction the pension increased because the deduction was about 3% and the TDA is earning 7%. <br />retired teacherhttps://www.blogger.com/profile/00198425710665887306noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-77240097929208994322019-08-26T06:12:42.363-04:002019-08-26T06:12:42.363-04:00The federal taxes were a shocker to an uninformed ...The federal taxes were a shocker to an uninformed teacher friend of mine who finally hit 30 at age 60 and was looking to retire. He had heard a rumor retired teachers pay no taxes. LOL He calculated he needed to bring in about 30K additional per year until he hit age 67 (full Social Security age) to maintain the same after-tax income and decided to tap his savings (TDA) for that. <br /><br />Although he had great speaking, planning and reading skills relative to education, he found that employers were not really looking to hire 61-year-olds (hard to believe!!) for professional jobs and his skill set was also a general mismatch for the market. Thus the revised plan to tap his savings and volunteer. He has not had to downsize and as long as inflation stays low and he watches his spending he should be able to stay where he is. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20674128.post-2024867386885200972019-08-25T18:32:03.102-04:002019-08-25T18:32:03.102-04:00You only pay federal taxes and union dues on your ...You only pay federal taxes and union dues on your pension check?kennyhttps://www.blogger.com/profile/07136287420203982338noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-54172916246798408002019-08-25T17:21:13.527-04:002019-08-25T17:21:13.527-04:00I retired earlier this year after 33 years in the ...I retired earlier this year after 33 years in the system. I was lucky because my school didn't crush my soul. My pension is quite decent and the take home is more than I was getting prior to retirement (I was contributing max to TDA for years) as you only pay federal taxes, health insurance and union dues (yes, I joined)...and SHIP. <br /><br />Since I am 55, it was fairly easy in this economy to get a job in the private sector--the first time I did that ever. I am raking in the dough, loving my job (I work in logistics) and love my new life....remember, if you retire young, if the economy isn't destroyed, then life will be great.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20674128.post-15456458063131980002019-08-24T19:40:06.592-04:002019-08-24T19:40:06.592-04:00the city/state will never offer a 30/55 or anythin...the city/state will never offer a 30/55 or anything like that when they have tier 6 on the hook well into their 60s'.<br />they might offer an incentive t tier 4 with 25 years or 30 years of age as they know those folks are basically set. thats the best anyone can hope for imoAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-20674128.post-67601726182805134172019-08-24T09:23:24.286-04:002019-08-24T09:23:24.286-04:00A A lot of people would leave after 20 but I don’t...A A lot of people would leave after 20 but I don’t think any incentive like that will ever existkennyhttps://www.blogger.com/profile/07136287420203982338noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-55955043998990347962019-08-23T23:00:30.137-04:002019-08-23T23:00:30.137-04:00Same for divorce. The x was to settle for zip. Na...Same for divorce. The x was to settle for zip. Nada. Nothing. She even negotiated away my business, pension, health benefits and tda. <br /><br />What a fucking loser.<br />.<br /><br />Retired 7/1/19<br />30/55<br />What a fool<br /><br />Go YankeesAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-20674128.post-22714018955960374732019-08-23T22:06:16.918-04:002019-08-23T22:06:16.918-04:00Concerning the issue of pension forfeiture, read t...Concerning the issue of pension forfeiture, read the <i>Helen Winston</i> Federal judicial decision:<br /><br />https://nycrubberroomreporter.blogspot.com/2014/04/helen-winston-case-1985-and-issue-of.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-20674128.post-89694900767328975282019-08-23T15:57:52.771-04:002019-08-23T15:57:52.771-04:00Anon: 10:43
You are correct. The retiree health ...Anon: 10:43<br /><br />You are correct. The retiree health benefits are worth so much more than people realize.<br /><br />I'm glad that waiting the DOE out helped you achieve your goal of vesting for a pension and the retiree health benefits. <br /><br />Good luck making more money and getting more respect in the corporate world.Chazhttps://www.blogger.com/profile/09964739497720364749noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-24238936733932121152019-08-23T10:48:54.597-04:002019-08-23T10:48:54.597-04:00I was initially reassigned just a few years into m...I was initially reassigned just a few years into my teaching career. The arbitrator took such a long time to give the decision that I made it well past my 10 year mark to gain my retiree benefits. Even though I was ultimately terminated, I am now earning far more in the corporate world and look forward to receiving my benefits when I turn 55. Despite DOE witnesses making blatantly discriminatory statements, I chose not to sue because the settlement usually comes with a stipulation to leave the DOE - cutting me off before my tenth anniversary of service. I decided to wait it out because the value of lifetime health insurance far exceeds whatever amount I would have received in a lawsuit. Looking back, I absolutely made the right decision and am enjoying a far better career where I am respected and have unlimited opportunities to advance.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20674128.post-69964656294275049472019-08-23T06:44:30.435-04:002019-08-23T06:44:30.435-04:00I stand to be corrected, but it's my understan...I stand to be corrected, but it's my understanding that, even if vested, you can lose your pension if convicted of an employment-related felony.Michael Fiorillonoreply@blogger.comtag:blogger.com,1999:blog-20674128.post-82189365851711908462019-08-22T22:01:24.827-04:002019-08-22T22:01:24.827-04:00Only was a teacher can lose pension is by stealing...Only was a teacher can lose pension is by stealing time as in years of time. Not per session hours or days/months. For example, if a teacher is in Spain for 3 years or even in another state and is collecting a check (is on payroll) then they will lose pension or could lose pension. However, if a teacher murders someone most likely won't lose pension.<br /><br />My question is there was a law that went into effect a few years ago about public employees losing their pension. Was that only for politicians? Can't imagine politicians would have allowed that...Shadynoreply@blogger.comtag:blogger.com,1999:blog-20674128.post-26383256405194666262019-08-22T20:36:18.334-04:002019-08-22T20:36:18.334-04:0012:00 you are so correct! Today unfair double stan...12:00 you are so correct! Today unfair double standard. <br />How can a SUPERVISOR not only keep her job but only lost vacation time?>?!?!<br />This is completely unfair and unjust.<br /><br />If you are told you are under arrest. There should be no fighting just following of directions. If this were the case this entire incident could have been avoided.<br /><br />Follow the directions of the officers everyone. no need to resist and fight with the officers.<br /><br /> Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20674128.post-75802236158505012382019-08-22T12:00:37.915-04:002019-08-22T12:00:37.915-04:00Anonymous 12:12 You are dead on! I hope he sues an...Anonymous 12:12 You are dead on! I hope he sues and wins millions. Now the Garners are going after more $$ and more police. Although the black woman sargeant only lost vacation days? This city is being run by the likes of Sharpon. DeBlasio is a cop hating jerk.<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20674128.post-42539653209223592242019-08-22T11:47:19.073-04:002019-08-22T11:47:19.073-04:00I want a special 20 year deal.
I will not work lo...I want a special 20 year deal.<br /><br />I will not work longer than 20 years. NYC DOE is a soul crusher.<br /><br />I have 7 years to go and will max out my TDA for the last 5 of those years.<br /><br />All debts will be paid off, so I can survive on $2500-$3000 per month between pension and TDA and other investments.<br /><br />When I hit the 10 year benefits vesting mark, (already hit the 5 year pension mark before) I felt a great burden lift off of me.<br /><br />The above poster is right. Do not let them drive you into quitting, no matter how much crazy and injustice they throw on you. Let them try to railroad you out for unfair Developing or Ineffective ratings.<br /><br />Even if they succeed, you will gain 3 or more years extra on your pension and TDA as an ATR or rubber room inmate. For most of us, those two outcomes will never happen.<br /><br />Just separate your life and well being from your job. Teaching is a job. You are 'not' a teacher. You are a human being who has to make a living and wound up in teaching as a profession. Don't forget that. Your real joy should not be tied to your job, ever.<br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20674128.post-29916402998293329362019-08-22T10:39:44.428-04:002019-08-22T10:39:44.428-04:00Anon 9:03 AM
You won't be rich (in post-tax d...Anon 9:03 AM<br /><br />You won't be rich (in post-tax dollars) and affording NYC will be a stretch but spending wisely in post-retirement will keep you solvent. You can always take a second job at age 56 to pay for some extras (travel, car, vacation, etc.). Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20674128.post-17281875463874639222019-08-22T10:30:11.873-04:002019-08-22T10:30:11.873-04:00Very little time left before the whole system impl...Very little time left before the whole system implodes - three to five years. The next mayor will allow charters to expand. Major disaster could happen at any time. Put the max in your TDA and look for positions in Westchester or LI, if you can’t retire in that time frame.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20674128.post-50151487668990827192019-08-21T23:32:36.782-04:002019-08-21T23:32:36.782-04:00When you talk about the % of teachers who get thei...When you talk about the % of teachers who get their full pension, vested, etc, what percent of teachers become administrators? They get a pension, but not as a teacher. How is that counted? Just curious.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20674128.post-71153614758402726092019-08-21T21:51:43.450-04:002019-08-21T21:51:43.450-04:00It’s amazing our healthcare costs have stayed so c...It’s amazing our healthcare costs have stayed so cheap for so long. Big perk kennyhttps://www.blogger.com/profile/07136287420203982338noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-2832631290069941182019-08-21T19:22:10.202-04:002019-08-21T19:22:10.202-04:00903 should be giving seminars for TRS903 should be giving seminars for TRSAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-20674128.post-26169142799337957342019-08-21T19:10:39.181-04:002019-08-21T19:10:39.181-04:00Anon 903
You go dog.....Anon 903<br /><br />You go dog.....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20674128.post-84376354510209121792019-08-21T16:51:24.963-04:002019-08-21T16:51:24.963-04:00If they do another 25/55 shouldn't tier IV be ...If they do another 25/55 shouldn't tier IV be allowed to opt in as well? I was on a long term(10 year) child care leave at the time and I was only offered 27/55 when I returned(the union had told me at the time that I would be eligible to opt in when I came off leave. However, that was not the case. I would like to opt into 25/55.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20674128.post-73837854058038252262019-08-21T15:50:51.168-04:002019-08-21T15:50:51.168-04:00Anon 903
You broke down the numbers perfectly. ...Anon 903<br /><br /><br />You broke down the numbers perfectly. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20674128.post-1136254390132114982019-08-21T14:44:49.109-04:002019-08-21T14:44:49.109-04:00 I am in 4 and VERY HAPPY I became vested 3 years ... I am in 4 and VERY HAPPY I became vested 3 years ago...whew.. and I am still a young one.. I was guided/advised/told by a financial person in a suburban school district to start a state pension while I was a substitute and newly graduated... very very smart move... thank you to that person who gave me great advice Tamar Flowerhttps://www.blogger.com/profile/17683177467965125518noreply@blogger.com