The Teacher Retirement System

[DRT]

Sucks.
Just looked at my wife's numbers. After 33 years completed she would only get 76% of her high 5 years average. Each additional year she can only gain 2.3%. So she would have to teach another 11 years to get what her high 5 salary average is now.
It's no wonder so few young people want to be or stay at teaching.

Sent from my SM-G892A using Tapatalk

[Mudslinger]

Yep..And if she draws any SS from another job she had, they will dock the SS! Say you are double dipping!

[easeup]

pretty sorry opinion of a system where 90% of the members contribute only minimum contributions to their future retirement. in the real market place of save for yourself, the amount of retirement savings you have would not buy you much when you only put away a whole $300 month for a lifetime of working. Count your blessings my friend.

[Tyrex750]

At least they have a retirement, whole lot of folks dont have anything and gonna probaly work till the day they die.

[Javelin]

I feel teacher retirement is quite good myself.

[Cookiemonster1]

My only gripe is that once you are in it they shouldn't be able to change the rules.

[Bullfrog90]

I have 29 years paying into TRS and I’m very fortunate to be able to work overtime that has really helped my five year average. I also started a 403b account 25 years ago that will help supplement my TRS. I will have my 80 points next year at the age of 50 and I’m seriously thinking about retiring.

[catslayer]

i have 29 years paying into trs and i’m very fortunate to be able to work overtime that has really helped my five year average. I also started a 403b account 25 years ago that will help supplement my trs. I will have my 80 points next year at the age of 50 and i’m seriously thinking about retiring.

get out while your sane...ish

[ladybluearm]

Retired after 27 years. Couldn’t take the politics any more. Worst thing is the retirement insurance. Not a good plan at all.

[RiverRat1]

pretty sorry opinion of a system where 90% of the members contribute only minimum contributions to their future retirement. in the real market place of save for yourself, the amount of retirement savings you have would not buy you much when you only put away a whole $300 month for a lifetime of working. Count your blessings my friend.

Name one other tax payer funded/ government job that has worse retirement.

[HogHunter34]

It Beats SS. Pay in 35-40 years to that & you won’t yield 75%+ of your income
My FIL is in his 42nd year & in two more years can walk away with 99% of his salary

[friscopaint]

I'm in a city pension and been saying for years that even government defined pensions will go away. They are continually whittling away at them. I'm done in a year and will do ok but they young guys better count on other investments

[sbushee]

How much time off do
Teachers get? Mmm k...

[jmeghunts]

She's a teacher. What part of this did she not understand when she started this career? Seriously, public pensions are pretty darn good so quit complaining. My wife is in TRS and is a principal, she moved up and is doing better financially than the teachers but she also has a year-round contract. I'm in TMRS and we are doing good as well over there. I don't understand how people complain that they don't make the same in retirement as they do working. By the time you retire you should have zero debt, period. Plan for it, live within your means and you will be fine.

As for public pensions going away? Do it. Go ahead. Just pay me what I am owed to this point and I will happily move on down the road.

[ca1219]

I have 7 years into TRS so far, so I still have a ways to go. However if you plan ahead and put even a small amount of money into a 403b account over your time, it will significantly offset the difference in your salary. It has been made way easier to add to the 403b account also since I started. So you can adjust it ever month if you need, depending on any overtime or yearly for raises.