Teacher Pensions, Explained In Less Than 3 Minutes

[johnnyboyvan]

I retired last June with a good pension after teaching high school for 32 years. Amen 🙏 COLA adjusted.

[FernandoBowen-]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked

[mikeklepper]

These are very valuable I never understood why pensions were not portable.

[kdkragt]

I wish you would do a video on Minnesota's teacher pension plan (TRA). The state board divided us into 2 tiers. Tier 2 is stuck funding tier 1 and tier 2 cannot collect until we turn 66 without huge penalties.

[rickmaraj]

There very specific accounts that deal with these issues! Most people don't know that your "pension" is an annuity. I have been working with teachers for over 15yrs now. You can buy a "pension/annuity" outside the "system" and get more benefits like the ability to grow your money, pass it on and have it liquid. You can never do these things in a "traditional" pension.

[thomashall]

Its not just teachers, Fire, Police and department of public works are also under the same rules. And let’s not forget the social security WEP

[steveschramko]

I've complained about this for years. There are SO many inequities....Then there's the government pension offset provision and windfall provisions that strip away additional earned retirement benefits for those who worked 10 years in social security qualifying employment. There's been talk about changing this for years and years....Guess what. It will NEVER happen. Teachers will end up getting screwed again. There will ALWAYS be some excuse.

[petercrowley]

Not sure why transfers between states don't allow 'added years ' on transfer - should you lobby for a Federal law change?

[justinjones]

Here's the main point of you are not a government worker invest in grocery stores and garbage companies as your stock investment because even during this pandemic garbage was still picked up and grocery stores were still open

[ransomholbrook]

This just now appeared on my stream. A couple of important important facts need to be addressed.

1) Pension is not an acurate term for us who live in Kentucky. Teacher's pay more than 12.5% of their salary into a retirement system every pay check. Rather you want to or not.
2) Just because the school year last 177 days for students, doesn't mean teachers work only 177 days. A recent survey here showed that teachers work on average 235 days, but only get paid for 185-190 days. All the actual time off, is no pay days.
3) I qualify for Social Security on top of Teacher Retirement because I started working when I was 14 years old, worked 10 years before I started teaching and was in the Army Reserve for 16 years while I was teaching. My Social Security was cut because of the "pension" to $222 per month.

[davidvaninwagen]

My wife has had it with the stress. She loves teaching, but the stress is killing her inside. Still, after 20 years teaching in NH she doesn’t qualify to retire because of a “70” rule, and even if she did, she’d be lucky to be getting $600 a month for her pension. The retirement system for teachers is an absolute ripoff.

[alfredoaalvarado]

Went on your website. Didn’t see any solutions to these problems being presented. Did I miss them? Can anyone provide a link?

[lionheart]

calstrs mission is to hold teachers interesting. I like to take control of my own money

[strokerace]

This is pretty basic, I have a couple teacher friends that have taught in several states, what a mistake.

[mysterio]

well well 24 yrs and im set for retirement an ddone with teaching

[hisremnant]

Current teacher pension plans are not the way to go PERIOD! Educators suffering financially have no way to access emergency funds unless their retiring or have been separated from the school system for 4 months.

[equisequis.]

Do teachers get social security benefits?

[carlc]

All pensions work this way regardless of the segment. In private industry, the pension changes with the company change and similar result. In fact, pensions are almost nonexistent in the private sector.

You should plan for your retirement as if a pension doesn’t exist and count it as gravy.

Complaining is a failure to take personal responsibility.

[aliciabryant]

Why can't we cut the medical population. My daughter without a degree is an RN and makes $80, 000 being on the job only 4 years. Oh yes, a hell if a lot since I have a PhD and do not come close. Medical professionals we need, but many are finding alternative care as their chose.

[starlitopensky]

If a teacher deserves a pension, so does a McDonald's worker