Teachers retirement system

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Ok, so I'm new to this all and just want to know what it is. I'm currently 30years old and I'm a high school counselor. Our system in California doesn't contribute to social security, but instead we have our own teacher/counselor retirement system. On top of this, I have a 457b retirement account which I currently have about $15,000 saved. I opened it in March of 2008 mainely for the tax savings. Currently, I'm looking on the best way to continue to save on taxes and wanted to know the benefits of an IRA and Roth. Please advise..... Thank you in advance....

I ignorantly joined the NYC Department of Education Retirement System about 2 years ago. Since I did not work as a sub for more than one year (found another job), I was terminated from the DOE at the start of the 2009-2010 school year (the current school year). While searching though the BERS booklet of rules, I found the following information on page 88 quoted below. I would like someone to explain the quoted paragraph below. I have not contributed to BERS for the simple fact that I am no longer a sub teacher and haven't been subbing in over one year. Here is what page 88 has to say: "If you resign or are terminated, you must contact BERS immediately to make arragements for the repayment of your loan. If no payment is received within 90 days of the last payment, the outstanding loan balance will be reported to the IRS. There may be tax consequences associated with such a loan." Does this mean that even after leaving the DOE I must continue paying BERS? I am no longer a sub teacher. Why should I continue to pay for a retirement system that does not pertain to me as a formwer employee of the DOE. Can someone please explain the above paragraph quoted from page 88 of the BERS booklet? Thank you very much. former_sub

I ignorantly joined the NYC Department of Education Retirement System about 2 years ago. Since I did not work as a sub for more than one year (found another job), I was terminated from the DOE at the start of the 2009-2010 school year (the current school year). While searching though the BERS booklet of rules, I found the following information on page 88 quoted below. I would like someone to explain the quoted paragraph below. I have not contributed to BERS for the simple fact that I am no longer a sub teacher and haven't been subbing in over one year. Here is what page 88 has to say: "If you resign or are terminated, you must contact BERS immediately to make arragements for the repayment of your loan. If no payment is received within 90 days of the last payment, the outstanding loan balance will be reported to the IRS. There may be tax consequences associated with such a loan." Does this mean that even after leaving the DOE I must continue paying BERS? I am no longer a sub teacher. Why should I continue to pay for a retirement system that does not pertain to me as a formwer employee of the DOE. Can someone please explain the above paragraph quoted from page 88 of the BERS booklet? Thank you very much. former_sub

I ignorantly joined the NYC Department of Education Retirement System about 2 years ago. Since I did not work as a sub for more than one year (found another job), I was terminated from the DOE at the start of the 2009-2010 school year (the current school year). While searching though the BERS booklet of rules, I found the following information on page 88 quoted below. I would like someone to explain the quoted paragraph below. I have not contributed to BERS for the simple fact that I am no longer a sub teacher and haven't been subbing in over one year. Here is what page 88 has to say: "If you resign or are terminated, you must contact BERS immediately to make arragements for the repayment of your loan. If no payment is received within 90 days of the last payment, the outstanding loan balance will be reported to the IRS. There may be tax consequences associated with such a loan." Does this mean that even after leaving the DOE I must continue paying BERS? I am no longer a sub teacher. Why should I continue to pay for a retirement system that does not pertain to me as a formwer employee of the DOE. Can someone please explain the above paragraph quoted from page 88 of the BERS booklet? Thank you very much. former_sub

I ignorantly joined the NYC Department of Education Retirement System about 2 years ago. Since I did not work as a sub for more than one year (found another job), I was terminated from the DOE at the start of the 2009-2010 school year (the current school year). While searching though the BERS booklet of rules, I found the following information on page 88 quoted below. I would like someone to explain the quoted paragraph below. I have not contributed to BERS for the simple fact that I am no longer a sub teacher and haven't been subbing in over one year. Here is what page 88 has to say: "If you resign or are terminated, you must contact BERS immediately to make arragements for the repayment of your loan. If no payment is received within 90 days of the last payment, the outstanding loan balance will be reported to the IRS. There may be tax consequences associated with such a loan." Does this mean that even after leaving the DOE I must continue paying BERS? I am no longer a sub teacher. Why should I continue to pay for a retirement system that does not pertain to me as a formwer employee of the DOE. Can someone please explain the above paragraph quoted from page 88 of the BERS booklet? Thank you very much. former_sub

My Economics teacher cited an example. I forget the woman's name, but he claimed that the she paid in $24.50 and ended up living for many years after her retirement and collected nearly $20,000. This is right when the program became, of course. Including the inflation of the dollar, the increased living costs, and people who pay in and die and won't collect, did she get more than the system could account for? If not, who paid for it?

My mother is a retired (NYS) teacher, and she also has medicare. What one does not pick up the other does. This is the scenario for millions of people. Why are those who already have insurance upon retirement allowed into the medicare system?

am a Secondary High school teacher from the State of California with retirement benefits provided by CalSTRS based on a certificated salary schedule with years of district experience and professional growth. If I decide to change and take a teaching position in a Community College or a University (UC or Cal State in California) or a job in education in a government agency like USAID for example, will I get a full transfer of my retirement benefits within their own retirement system or not?

I am a Secondary High school teacher from the State of California with retirement benefits provided by CalSTRS based on a certificated salary schedule with years of district experience and professional growth. If I decide to change and take a teaching position in a Community College or a University (UC or Cal State in California) or a job in education in a government agency like USAID for example, will I get a full transfer of my retirement benefits within their own retirement system or not?

I already have my BS degree and am thinking of either going back to school for an accelerated BS in nursing (15 months) or a masters degree teacher's certifacation program in grades K-8 (it is 9 months of student teaching and then 15 credits after that to get your masters...). I am confused what I could teach in grades 6-8 without a specific subject, but that's what the program says... I don't have enough credits in one subject (without taking more undergrad classes) to teach a specific subject in high school... I love learning, teaching, and people/kids in general. I also like the perks of working the school schedule, summers off, and retirement... If I were to go the nursing route, it would be a much more difficult college program, then I would need to work for a year or two in a hospital to hone my assessment skills and gain experience, then search for a school nursing job. The process would probably take a lot longer than it would to become a teacher, therefore pushing back retirement (from school systems). Also, I would only have a Bachelors as opposed to a Masters, so I would be paid less. Also, I have done a lot of researching, and it sounds like not many states even put school nurses on a teachers union, so they usually get paid less than teachers and don't get the same benefits. However, school nurses most likely get out when school is over and don't take work home, which I like. I could work in any schools (elemen, middle, HS). If I go the teaching route, I would be certified to become a teacher more quickly than getting registered as a nurse. I would start working sooner, but would have to look for employment as an elementary school teacher. I am not sure how much elementary school teachers typically have to take home, when they get done with their day, or what the working hours they are contracted to do. I also don't know how stressful the job is. I am not sure what would be the best route. Ideally, I'd like to be a school nurse, as I like taking care of children and educating them about health and wellness, but I don't want to put in twice the effort to get there (compared to getting my teaching certifcation) only to find out I'm not even going to get paid as much as a teacher and not get the same retirement benefits, etc. Also, I do not want to do bedside (hospital nursing) my whole life (already work in health care and don't want that life). If I were to teach, I like elementary grades (probably 3-5th grades most), but like getting out earlier like middle school/high school teachers. However, it would seem like middle school and high school teachers would take more work home and have more work in general??? (grading papers, exams, etc...) Any insight would be helpful.... Thank you!!!

My husband is a teacher and has just become fully vested in his retirement program. We are considering moving in a year or two out of state where he will get another teaching job. Therefore he will be in a different pension system. When he retires he will be fully vested in two different states Teacher's pension system. How does that work? Can he collect from both? Do we have to submit taxes in both states?

besides retirement system..is there another loan i can take out?

Extravagant retirement benefits, teachers paid to do nothing, employees pumping up their pensions with overtime... it is bankrupting states. Unions ruined our auto industry. Now, they are destroying our school systems and making it impossible to balance government budgets. Sure, these people are important and deserve a REASONABLE retirement plan. But reasonable is not what they have. They get much more than anyone else. They always trot out the police and fire as examples of why they deserve rich benefits but the reality is those jobs are a small fraction of all those under the public employees umbrella. They negotiate rich benefits for all of them and their numbers are huge. http://news.yahoo.com/s/ap/20090622/ap_on_re_us/us_rubber_rooms

I am in my early 30s and I am considering going to graduate school to teach secondary education. I think I would really enjoy being a history teacher. I like working with the middle and high school age group and I am passionate about history. One of the biggest things holding me back is the fear of not being able to plan for retirement. I don't expect to retire "early" or to be wealthy but I would rather not spend my later years in poverty or be working till I drop dead either. I am 33 and it will likely take me about 4 years to work my way through grad school part time, complete student teaching assignments, etc. Therefore in order to teach for the 30 years one needs to be eligible for a decent teacher's retirement plan I would have to teach past the age of 65, which is the standard retirement age. Another issue is that I live in MA currently, but I also may be moving at some point to CA due to family situations. I have read that many states let you "buy credits" towards adding the years you worked in one state on to the total number of years accumulated towards retirement in the other state, but it seems to be prohibitively expensive ($5,000-10,000 to purchase just one year of credit, and what if I had to purchase 5 years or so? It seems like a lot of money to be docked for years that you have already worked, just in a different state. On a teacher's salary, I'm not sure that I will have the thousands of dollars saved up to do that.) The other thing that scares me is that I have worked in the private sector since I was 18, paying into social security. I have read that because of the Windfall Elimination Provision act, teachers in MA and CA are not part of the social security system, so not only would I lose most of my SS benefit but I will likely not get any kind of decent teacher retirement either, as I am coming later in life to the profession. Thoughts? Advice? I think I would really enjoy teaching but I don't want to struggle and live in hardship when I am older. I was thinking maybe I could save some extra money in an IRA or something...but thinking realistically, teachers don't exactly have a lot of extra money lying around. I will already be contributing heavily to the mandatory retirement plan (which I hear has a rather low rate of return compared to traditional 401K and IRA options) and I still need to pay my bills, and for grad school. Again, I'm not "in it for the money." I realize that I will never be wealthy as a teacher and I don't care. I don't make a lot of money now, so it's not like I'm leaving a big fat paycheck to go into education. I love history and I think I would truly enjoy teaching. I just don't want to be dirt poor living on welfare when I am older. Should the retirement problem get in the way of my decision? Should I go with my calling and hope things somehow "work themselves out"...or should I just give up the thought and stay in the private sector with a normal 401k and the promise of a social security that may or may not be there in 30 years? Any advice from career changers to teaching or other teachers would be welcome. I know I'm young to be so worried about retirement but it seems so scary!

Please help me answer these questions: 1) Should Social Security be privatized? Would you support a partial privatization? How would you go about investing your private share for your retirement? What is the drawback of letting individuals bear all the risk in their retirement? Is this a safe plan for the future of Social Security? 2) We often say that education is the key to improving ones chances in life, but is our educational system really equal? Compare, for example, schools in different states where you or your friends have lived. Then compare schools in the suburbs with schools in the inner cities. Why is there such a variation? Only about one-third of all high school math and science teachers majored in math or science in college. Where do you think those one-third teach? Who is teaching math and science in the other schools? What does that say about equal educational opportunities? Would you support a voucher system that would allow students to go to any school they wanted to? 10 points for best answer!!!!

I am a high school teacher currently in the state of Michigan (in my 6th year of teaching). My husband and I are moving to Texas. Will they accept my years of service from Michigan towards my retirement of will I have to start all over and do a total of 30 years in Texas to collect pension??? Any specific details you can provide about Texas teacher retirement system? I've dwindled around on the website a bit but haven't really found what I'm looking for,

Will I be better off or worse off by switching to the teacher retirement system? How many years will it take to become vested?

This is where i stand on issues. 1) To be the Candidate of National security: a) Victory in Iraq b) Fully support NSA, Patriot act, tough interrogations, keeping Gitmo open c) A Candidate that pledges to NOT demean our military while they are fighting for their Country. eg Harry Reid: "the surge has failed", "the war is lost" d) Candidate that promises to ensure that our veterans can live out their lives in dignity. 2) The Candidate who pledges to oppose Appeasement: a) The Candidate will oppose any and all efforts to negotiate with dictators of the world in places like Iran, Syria, N.Korea, Cuba, and Venezuela without "pre-conditions" 3) The Candidate Pledges to support Tax CUTS, and fiscal responsibility: a) The American people are NOT under taxed, Government Spends too much b) The Candidate who Pledges to ELIMINATE and VOTE AGAINST ALL Earmarks c) The Candidate pledges to BALANCE the budget 4) The Candidate Pledges to be a supporter of "Energy Independence" a) supports Immediate drilling in Anwar and the 48 states b) Building new refineries c) Begin building and using Nuclear Facilities d) expand coal mining e) realistic steward of the environment While simultaneously working with private industry to develop the new energy technologies for the future, with the goal being that America becomes completely energy independent within the next 15 years. 5) The Candidate pledges to secure our borders completely within 12 months: a) build all necessary fences b) use all available technology to help and support agents at the border c) train and hire agents as needed 6) Healthcare: The Candidate will look for Free-Market solutions to the problems facing the Healthcare industry, and will vigorously oppose any efforts to "nationalize healthcare". a) The Candidate will fight for Individual health savings accounts, that includes "catastrophic insurance" for every American, so people can control their own healthcare choices. 7) Education: a) The Candidate pledges to "save" American children from the failing educational system b) The Candidate will fight to break the unholy alliance of the Democratic party and teachers unions, which at best has institutionalized mediocrity, and has failed children across the country c) fight for "CHOICE" in education and let parents decide d) fight for vouchers for parents 8) Social Security and Medicare: a) The Candidate will "save" social security and medicare from bankruptcy. b) Options will include "private retirement" funds so people can "control" their own destiny. 9) Judges a) The Candidate vows to support ONLY judges who recognize that their job is to interpret the Constitution, and NOT legislate from the bench. 10) American Dream: The Candidate accepts as their duty and responsibility to educate, inform, and remind people that with the blessings of Freedom comes a Great responsibility. That Government's primary goal is to preserve, protect and defend our God given gift of freedom. Would you vote for me? I am anti abortion.

As we all know there is no for cancer but that's what the government wants you to think. The government is hiding the cure for cancer because of the life-span of a average human being. Lets say a 35-year old has breast cancer and she will die in a few months; if we give her a cure for cancer she might live till age 60+. Also if the population doesn't decrease it might mess up the whole system of jobs and of employment etc. And i think that the cost of the cure of cancer will cost a lot but I think it might be well worth for if it could save your 70 year old dying grandfather................ but then again who gives a damn about your dying friend or family but about the money. So if the government doesn't have enough money for patients with caner for a retirement home or the justice of letting a cancer infected child live his/hers future then i guess that this is bull and blasphemous. I will l call this murder for knowing a cure for something but not giving it to someone. Who cares if there is a bit of increase in the population or in retirement homes or the lose of jobs in the economy. I think that a person should value live and live long as possible. But then again what isn't about money....................... PS: I only want intelligent answers to this questions and no 13 years blabbing about how their teacher said there is no cure for cancer. If you are 13 or younger just answer this question knowledgeably.

My question is can I claim this on my tax return at all or do I have transfer/roll it to a traditional IRA?

I am a retired teacher in Texas. My main source of income is my TRS monthly annuity. How will the current economic crisis affect TRS?

i know a little bit about it.... isn't it when teachers work for a certain about of time and deposit money into their retirement system every few years and once they pay it all off the get to retire? i'm doing an essay about careers and i don't really know how to explain it without making it so long... here's the first part of my essay: Over the past years that I teach I would also get a retirement system. Retirement systems.... thats the part i need help on, any suggestions on how to make these sentences better??? UPDATE: ok all of the answers are nice but i just need a simple definition of retirement system explaining what it does for a teacher thats all

What do you mean by, """If you work five years or ten years, according to state requirements, then you can retire at age ~65. So you have been a member of the retirement system many years. "" Does it mean if you worked 5 or 10 years you can receive a pension but you put be of age to do so??? Do I really have to wait that long "Until 65" to receive Pension Monthly income.

My parents own two homes and I will eventually be sharing the equity of these with my sister and her daughter. One home is in the Hamptons, NY. This home is pretty valuable. I have been renting since 1993. I started out at $775 a month and now pay $1025 a month. I live in a restored historical building. The landlord's kids went through the school system I teach in, and so they have held the rent down. I have a washer/dryer, and the landlords fix broken things within one day. The money I am saving in rent, I am putting into my 403K. (obviously, this has nosedived in value of late.) I also am in line for a teacher pension upon retirement. I hesitate to buy a condo or house, as, upon my parents' death, my sister and I will be trying to keep the two above-mentioned homes running. Plus, as I am single, I feel a house would be too lonely. I am also lazy and stingy and know that owning means having to fix things oneself, mow a lawn, shovel snow, and that I would have to sacrifice a lot of things that I now blow money on like weekly massages. Any comments?

I am currently a fifth-year computer teacher chomping-at-the-bit to get the heck out of this pathetic dead-end job!!! I want to do something with computers in a corporate setting and have benefits and a retirement plan. Things I dislike most about my current job: --low pay and not much "moving up." I started five years ago taking home $1800/month. Now I take home $2200/month (and I have a MASTER'S degree!! - doesn't seem to matter in the teaching world) --repetition; I say the same thing five times a day, once for each period --not learning ANYTHING new; I spit out information I already know to students whom a small percentage of care to listen --having more and more piled onto our plates without the additional compensation --lack of feeling of achievement, accomplishment, success, recognition --the foul language and attitude I hear and witness daily --recess duty! Things about me: I recently received my Master's in Information Systems & Management (online, so unfortunately there was not much "hands-on"). I love to learn!!! I am an introvert and can *tolerate* working closely with people but I perform my best independently and in a QUIET setting. I like making basic websites and I am proficient on the Mac OS X. I can do Word, Excel, etc. and some Photoshop. I like to solve problems, improve systems / make things more efficient, and I love organizing anything and everything. I like research, data, and analyzing information. But I also have a creative side. I enjoy teaching others, but only when the pupils are eager to learn and when I know there will be some sort of benefit for all involved in the learning process. I despise sales or anything having to do with trying to persuade others. Not sure if mentioning hobbies helps, but I love sewing, drawing, puzzles, reading, and playing video/computer games (like Civilization and Sim City). The people I need to respond are those currently in computer positions in a corporate setting enjoying their jobs. Please tell me what kinds of careers are out there for me based on your experience and observations in your current occupations! :) to answer Chris's question... when teachers leave they pull out all the retirement money that was taken out of each paycheck and decide what other institution to transfer the money into. I don't know the details but I hear that this is the gist of it.

lack the capacity to care about their job? I am sorry but I feel many public school teachers are in the job for the retirement and other benefits of a state employee. As a former student that went through the public school system, many teachers I noticed seemed to be very snobby and got all mad when students raised their hands to ask questions. No wonder so many students in my local area drop out of high school. No positive people to encourage them and thats really sad.

Michelle Rhee, the hard-charging chancellor of the Washington public schools, thinks teacher tenure may be great for adults, those who go into teaching to get summer vacations and great health insurance, for instance. But it hurtschildren, she says, by making incompetent instructors harder to fire. So Ms. Rhee has proposed spectacular raises of as much as $40,000, financed by private foundations, for teachers willing to give up tenure. Policy makers and educators nationwide are watching to see what happens to Ms. Rhee’s bold proposal. The 4,000-member Washington Teachers’ Union has divided over whether to embrace it, with many union members calling tenure a crucial protection against arbitrary firing. “If Michelle Rhee were to get what she is demanding,” said Allan R. Odden, a professor at the University of Wisconsin who studies teacher compensation, “it would raise eyebrows everywhere, because that would be a gargantuan change.” Last month, Ms. Rhee said she could no longer wait for a union response to her proposal, first outlined last summer, and announced an effort to identify and fire ineffective teachers, including those with tenure. The union is mobilizing to protect members, and the nation’s capital is bracing for what could be a wrenching labor struggle. Ms. Rhee has not proposed abolishing tenure outright. Under her proposal, each teacher would choose between two compensation plans, one called green and the other red. Pay for teachers in the green plan would rise spectacularly, nearly doubling by 2010. But they would need to give up tenure for a year, after which they would need a principal’s recommendation or face dismissal. Teachers who choose the red plan would also get big pay increases but would lose seniority rights that allow them to bump more-junior teachers if their school closes or undergoes an overhaul. If they were not hired by another school, their only options would be early retirement, a buyout or eventual dismissal. In an interview, Ms. Rhee said she considered tenure outmoded. “Tenure is the holy grail of teacher unions,” she said, “but has no educational value for kids; it only benefits adults. If we can put veteran teachers who have tenure in a position where they don’t have it, that would help us to radically increase our teacher quality. And maybe other districts would try it, too.” Ms. Rhee has significant public backing for her efforts to improve this district of 46,000 students, one of the nation’s worst-performing. Both presidential candidates lined up behind her in their final debate last month, with Senator Barack Obama calling her Washington’s “wonderful new superintendent.” Ms. Rhee, 38, has convinced Washington that she means business since Mayor Adrian M. Fenty plucked her out of a nonprofit organization based in New York City, the New Teacher Project, and installed her in the chancellorship 17 months ago. She has fired or forced out hundreds of central office employees, principals and paraprofessionals, as well as 216 teachers who lacked licenses, her aides said. “Fire all incompetent teachers — that makes a good sound bite,” said George Parker, the president of the Washington Teachers’ Union. “But remember that not only teachers are to blame for the problems in this district.” Mr. Parker cited a chaotic administration that has had seven superintendents in a decade and has paid little attention to problems like truancy and student discipline. “You can’t fire your way into a successful school system,” he said. Mr. Parker said he had kept an open mind about Ms. Rhee’s proposals, which would raise star teachers’ salaries to $130,000, with bonuses, by 2010, and the two went together before several mass gatherings of teachers in July to explain them. But an August poll commissioned by the union found that teachers opposed Ms. Rhee’s proposal by three to one. In the interview, Ms. Rhee said the raises would be financed largely by foundations that had given her commitments of $75 million a year for five years, of which a “significant portion” would go for teacher compensation. “The foundations want to fund things that are innovative and will have national ramifications,” she said. Ms. Rhee has declined to name the foundations, however, raising worries among some teachers about the foundations’ motives and about whether their commitments would remain solid if the nation’s financial crisis were to be prolonged. The talks have made little progress in recent weeks.

I am a 28, white, bored gay male in Denver CO. I teach middle school art and thought teaching would be fun. Because of budget cuts, Im not sure I have a job next fall, and finding a teaching job in Denver will be really hard (there will be a lot of unemployed teachers here). I grew up here in Denver, went to college nearby, and have family here. It is here I have connections and with the state government I have a retirement fund. However, there is a part of me that wants to leave teaching, move to NYC and try to go into interior design. I like teaching, but feel like my my own artistic-ness isn't being challenged and am disillusioned by the bureaucracy of the educational system. and I really love design, I feel like I know Denver too well and that there nothing new too me here. However, part of me loves teaching and being close to my family. Teaching will be a lot easier with a few more years experience. I deep down wonder if the guy who will be my life partner is out there in NYC. or at least not in Denver. What would you do if you were in my shoes?

I'm 40 yrs old, a teacher making approximately $44,000 a year, been teaching 15 years so I would like to finish out in the same retirement system, have one child, a home mortgage, and a car mortgage. I'm basically average middle-income, middle-class person. Based on that - McCain or Obama more likely to work in sync with what I need?

i understand that teachers in schools, colleges and universities are all underpaid, undervalued and over worked. i could emphasise with them on that. and yes a lot of them have kids or are parents and are struggling to make ends meet to provide for them and put food on the table. but teaching isn't all about money- it's about going into an environment where you are giving those pupils/students the essential tools, knowledge and skills that will equip them for work and life later on, particularly at college and university. which is why i find it disheartening that many teaching staff in the uk are retiring, or are considering an alternative career pathway because it is not as well paid as other professions. plus, the UK education sector will be struggling to cope in trying to find, recruit and meet the demands of new teachers, to replace the ones who are going to go into, or are considering retirement or pursue a different job pathway, in say 5, 10 years time. my career aim is to become a lecturer at college and for me, money is certain no object, nor is it really a motivator for my choice to become a teacher. i have been a student and pupil for the most part of 23, 24 years of my life- i am 27, as of now; i have been through the education system via school, college and university and so my experiences as a learner, whilst they may not have given me the insight to life as a teacher/lecturer- seeing as i have yet to get to that stage, i realise that being a learner in education and the experiences at school etc, has made me appreciate how much teaching means to them- irrespective of issues such as low pay, longer working hours, impact of stress etc , as i attempt to make that transition from student to lecturer/teacher. and so in this day and age, shouldn't teaching be about giving something back to the education community and giving those people hope for the future, as well as learning more about yourself, in the process. as opposed to being lauded by the financial incentives of teaching? do you think that teachers who no longer have the passion for teaching, but who are still in the job for money reasons for eg, should leave the profession? all of you make some really interesting points. another thing that has got my attention is i think there is too much government control and the proposals that labour themselves are fostering onto teaching staff and in schools etc is just too much of a burden on them, they need to know when to back off. schools, universities and colleges should function properly without too much government interference because it is not just pupils and students's academic lives at stake but also that of the teachers themselves.

I read that some people can get their 401-k funds to create a business without paying taxes and that is why I am asking if I could get my funds from the Teacher Retirement System without leaving my current job as teacher

Just wondering if the teacher retirement in California is supposed to be pretty good? I am talking about the mandatory retirement deduction we have taken out of our paychecks each month....Is it pretty good? Seriously clueless about it and I have been teaching in the public school system for about 7 years. Time for me to get educated about my retirement? Any input is appreciated.

We have a different retirement system called STRS. I was just wondering the reason behind setting up a whole new system instead of using social security thats already in place. It doesn't bother me one way or another but I was curious why teachers have a separate retirement system. Thanks!

Trying to figure out how people get the idea that teachers are not well paid. Public school teachers, if you review their contracts, are required to work about 5 hours per day, and about 160 days per year. Their average wage is about $65,000. Their benefits are almost always 90% paid for by the school system, and their retirement compensation is the best in the world for ANY profession. Using my figures above, which I've seen in many teachers contracts (contact your board of education, all contracts are public documents) teachers typically make about $81.25 per hour. Not bad for a part time job. Add to this that they get mandatory overtime if they teach additional classes above the contract mandated maximums, and that many of them will coach a sport and grab another $5k to $10k per year in their spare time. Additionally, many teachers are Realtors, Mortgage Professionals, or Insurance Agents as well, and they use their connections in the city to create business. mevadus, thinking about it, but I still think I can make more money as an entrepreneur. But I have to admit, it's not a bad fall back. It truly is a part time job. Meighan M, Well, I guess I know where you get your ideas from, but they are false. Teachers contracts almost always pay them not only normal wages, but time + 1/2 for meetings and other days. Additionally, how many times does a world history teacher have to change his lesson plan, for example? The teacher I had in honors world history in high school had the same overhead transparencies for over 30 years (he bragged about it). I mean, math doesn't change, once you know how to teach fractions, you always know how to teach fractions. I don't buy your argument at all. It sounds like you might be, or might be related to a teacher perhaps? SMichele, 187 days is a lot less than the 260 that everyone else works. I appreciate your long and detailed answer, but your specific case is unique. I've reviewed hundreds of teachers contracts because I'm writing a book on this topic. The school boards in most areas do something called "picking up the pick up", and truly a lot of teachers aren't even aware of it. Teachers in many areas pay as little as $10 for health insurance. Career teachers who have never worked in other fields don't know that most folks with a family pay up to $300 per month or more out of pocket for health insurance. Kahless, Not true at all, and I'll give you a specific example. Go get the contract in Berea City Schools. 156 days and no more than 5 classroom hours or mandatory overtime. They also have the "pick up of the pick up"; very well paid teachers, well more than my averages above. The average in Berea is closer to $80k per year. Chris H, that's my point exactly Chris, it's a part time job, and it's seasonal. Teachers ARE paid for the hours they work, and that's why I divided their total compensation by the hours they work, per their contract. Listen, I know that I'm a bit unusual having actually read all these teacher's contracts, but when I began researching this book I thought like you all. But having read them, I now know better. What I was hoping for was reaction from someone that is aware of this situation, not deniers. I mean, some of you people sound like holocaust deniers or something, I'm starting to think I need to post all these contracts on a website so that you will all have an opportunity to read them. But even if you read them, I wonder if you would STILL deny the facts....

Is it worth it to be in a pension plan? I am apart of the Teacher Retirement System. I make 33,000/ year right now, but I have the earning potential of 65,000 come retirement time. Should I move on and work for corporate America or stay? Pension plans continue to pay per month until you die. Is it worth it to stay with the pension plan? What is your guess that in 35 years the thousands of people that took part in a teacher retirement system in every state will actually get enough to live off of?

I have a 401k with Nordstrom. I was employed there over the summer. Now they told me I have 30 days to do something with my funds it or I would receive a distribution of the funds (I think). The reason they are doing this is because the amount is so little, it's $175. So my question is should I just take the money and pay the penalties or should I do a rollover into a completely new account that I would set up and what sort of account would be recommended? I have another account with the Teacher Retirement System of Texas. Again, I don't have a lot of money invested here, but I do have some. Also, I am no longer employed with them and I am now working for a company with no retirement plan. I guess it's more complicated than I thought. Help? Oh, one more thing, I have a mutual fund (Captial growth, I think) account with Franklin-Templeton with quite a bit of money invested here. Can I invest it in this? I spoke with them about setting up an IRA, but they mentioned yearly fees. :(

I am a teacher in a public education system. When I was 23, I knew nothing about retirement programs. But I do know it is important to save up for my golden years knowing that social security benefits would probably not be as lavish on us as it is on the older folks these days. That is a stroy in itself. Going back to my question, I did get a 403B plan which I contribute about $75 per paycheck (26 in a year), plus $110 goes to the TRS. Both are retirement plans. I am now 29 and ridiculously serious with getting my finances straight before it's too late. I am in the process of gaining more financial knowledge by reading books and websites in the topic. But there is so little information about 403B as 401K counterparts are more popular. I am now 29 and have contributed thousands now on both TRS and 403B, if you have a know how on these things, please enlight me more. If you know of good reads regarding these topics, please let me know the title and author of the book. Thank you

Why can’t some of the parents who are unhappy about how bad schools are work together to help make changes? We as teachers truly cannot change what is going on. To speak up against standardized testing, NCLB and horrific discipline problems as a teacher gets us blackballed in a school district and it can be nearly IMPOSSIBLE to find a job. Instead of working to improve things, parents are pulling their kids out of public schools and sending them to private schools. But if all those parents would GET INVOLVED and help make changes, such a difference could be made! The emphasis on standardized tests is just one of the many problems with public schools today. We push so hard just to pass those tests that we end up teaching to the test, and that’s about it. We don’t even get a chance to teach the kids to THINK anymore. If your class doesn’t do well on those standardized tests, you are assumed to be a poor teacher and fired. It’s getting harder and harder to find good teachers. They’re either burned out, holding out till retirement or newbies who are just jumping when they’re told to jump (b/c they are threatened with losing their job). I LOVE teaching, the little bit of time I get to teach, but it has gotten soo soo political. It’s all about standardized tests and being P.C., the pay stinks (many teachers I know need a second job in order to make ends meet). In my state, they are offering all these incentives to encourage people to go into teaching. Yet, they can’t KEEP teachers because they are treated so poorly and get so little reward anymore. Basically, teachers are running out of the system in droves…and no one can blame them. We work 60 hours a week for less than a garbage man makes, we take our work home with us almost every night, we spend what little money we have on supplies for students because parents and/or schools don’t provide it for them, and to top it all of, the students are now allowed to get away with behaving like juvenile delinquents. In all, parents are the only ones who can change things…Why doesn’t anyone stand up? Gee, gloves off…First of all, you have absolutely no clue what you are talking about. First of all…over funded schools? I wish I lived in your neck of the woods! I have yet to see anything like that. And I never EVER said I “feel threatened by the superior education at parent can provide at home.” I’m not exactly sure where you picked that one up. I CAN provide a very high quality education. I am licensed and educated to do EXACTLY that, often more so and better than than private school teachers (who are NOT required to have a teaching degree). (And home school was never mentioned in my question--pay attention). The problem I am speaking about is of the parents who refuse to help out or get involved, and are sending their kids to public school and practically using it as a daycare service. We are doing a disservice to our country and its future because all the good, hard working kids (and parents) are run off by the populations of thugs that continue to abound in schools. Because the government has decided that we, as teachers, cannot discipline students AT ALL, the problem gets worse each year. While I do understand the desire to pull your child out if you are unhappy with the school, my wish is simply that people would pay attention to what is actually going on. You seemed to miss my other huge point…teachers are FIRED if we complain or stand up against the rules. It’s like a communist regime. Just wait…you say it has nothing to do with you. These kids are the one’s that will be running your country one day.

1: Neither the American Indians nor the pioneers knew how to use more than a few of the .... around them. religious artifacts natural resources none of the above 2: The early American pioneers did not know what .... was and burned it for fun. gasoline oil none of the above 3: Today we enjoy thousands of conveniences because of the advance of ..... science and technology the juducial system none of the above 4: For hundreds of years, formal education often was available only to those children whose parents could afford to hire a ..... minister teacher none of the above 5: was the first colony to provide education through public effort. California Massachusetts none of the above 6: In Virginia, Governor Berkeley once said he thanked God there were no .... schools in his colony. religious free none of the above 7: Gradually, the belief grew that the .... should provide free education. churches states none of the above 8: The cost of .... education is a major item in the educational program of each state. public everyday none of the above 9: Education is an important factor in earning a ..... living retirement package none of the above 10: Today there are very few .... occupations. natural non-educated/skilled none of the above 11: We live longer today because physicians have learned through education how to fight ..... disease public apathy none of the above 12: Charles Hall's discovery of a cheap process for extracting aluminum from ore was possible because he had acquired, through ...., all that was known about aluminum. trial and error education none of the above 13: Educated persons are better fitted to make .... on public questions and to act wisely. decisions money none of the above 14: Since schools are important for the public welfare and the .... as a whole, it is necessary to have the best schools the people can afford. standard of living tax base none of the above 15: So important is the board of education that only men and women of the highest .... should be elected to it. political connections character and ability none of the above 16: The good citizen should persuade capable persons interested in public service to become candidates for positions on the .... board. education council none of the above

My wife is a veteran teacher at 60 years old who would like to retire. She has 17 years in private schools under the social security system. She also has 16 years in a state retirement system while teaching in public schools. In Kentucky, she is only allowed to retire from one system or the other, yet she earned both. This just doesn't seem fair - has anyone found a way to beat this? She would only get about 30% of her social security if she retires from her state pension. If she goes to social security, she will have to wait until 65 - too old to be teaching in 4th grade.

For a little background information on Barack's buddy and big time contributer, read this- Antoin "Tony" Rezko (born in 1955 in Aleppo, Syria) is a restaurateur and real estate developer in Chicago, Illinois. Rezko is currently facing federal charges of attempted extortion, money laundering, and fraud. In October 2006, Rezko was indicted for extortion of businesses seeking to do business with the Illinois Teachers Retirement System Board and the Illinois Health Facilities Planning Board. In addition, he has been charged with wire fraud for staging false transactions of his pizza stores in order to secure $10 million in loans from GE Capital.

I'm ready to retire after 30 years with the teacher retirement system. I can choose from different options and the standard amount is a fair amount to live on if after my death I leave nothing to my adult children. If I choose to leave an annuity for my children after my death, I would be receiving a lot less per month while I'm living. Should I be a priority or my children?

Needing to speak with someone well versed in the Retirement program in Texas offered thru the Teacher Retirement System (TRS-5); it's effect on Social Security Benefits from prior employments and spousal inheritance (both ways). My situation is especially complicated because I worked 20+ yrs in the private sector, and once I am 5 yrs in this job, I "lose" my Soc Security history, with TRS replacing it. Additionally, my hubby of 1 yr is on permanent social security disability income from a massive stroke, paraplegic. I need to know how to assess both how my death as well as his regarding the inheritance of TRS benefits for him, and SSDI for me. What type of person has the savvy, education, experience and know-how of handling issues these complicated? Is there an occupation that does an over-all service of this area with others (like estate, tax planning). 011108 8:20

Needing to speak with someone well versed in the Retirement program in Texas offered thru the Teacher Retirement System (TRS-5); it's effect on Social Security Benefits from prior employments and spousal inheritance (both ways). My situation is especially complicated because I worked 20+ yrs in the private sector, and once I am 5 yrs in this job, I "lose" my Soc Security history, with TRS replacing it. Additionally, my hubby of 1 yr is on permanent social security disability income from a massive stroke, paraplegic. I need to know how to assess both how my death as well as his regarding the inheritance of TRS benefits for him, and SSDI for me. What type of person has the savvy, education, experience and know-how of handling issues these complicated? Is there an occupation that does an over-all service of this area with others (like estate, tax planning). 011008 5:15

I used to work in one county (Fairfax County Public Schools in VA) as a school counselor and am currently a stay at home mom. When my son starts 1st grade (in about 3-4 years), I plan on going back to work. I currently live in a different county (Prince William in VA) but want to go back to Fairfax Co b/c my husband currently is a teacher for that county and b/c I'm familiar with it (also the biggest county in VA and a good school system). The pay is also about a $2-3,000 increase with Fairfax Co. But, there is a commute and not sure how far depending on what school I can find a job at. I also want to have my son at my school (I am going back as an elementary school counselor). (Please no comments on that. This is what I plan to do.) So, is the difference in pay any real difference over the years? Or, would you recommend I stay in my own county, although my husband works in a different one? I'm also thinking long term with retirement and pay. Thanks.

My wife has approx 12 quarters paid into SS. She drove a bus and paid into a teachers retirement system and did not pay into SS. Can she pay FICA taxes on these years so that she has the necessary quarters to quailify for disability benefits ?

How can I change my deposit to a different bank?