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Old 09-20-2011, 05:32 PM
 
Location: Central Florida
973 posts, read 1,491,079 times
Reputation: 1098

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Quote:
Originally Posted by 1AngryTaxPayer View Post
Do you know how lucky you are to be "able" to retire?
Yes, I am.... BUT to be honest, it will be by the "seat of my pants" as I really haven't saved much which does scare me at times. But I am resilient and I know that I can sub for at least 3 years as all of my friends will still be working, and I am the one they will be calling!

But, too, I will be almost 64 when this happens and I think for teaching or any stress-related job, that is when one should.
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Old 09-20-2011, 07:27 PM
 
12,671 posts, read 21,075,083 times
Reputation: 2625
Quote:
Originally Posted by 1AngryTaxPayer View Post
Do you know how lucky you are to be "able" to retire?

Why is that? If you love something then one should not retire.
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Old 09-20-2011, 08:27 PM
 
Location: Floyd Co, VA
3,416 posts, read 5,144,825 times
Reputation: 7231
As I got close to retirement my only doubt was whether or not I'd be able to hang on to my sanity at my totally hated job, or would I wind up in a straight jacket before reaching minimum age.

I left a few months earlier than I'd hoped and so did not reach what was known as Golden 85, when one's age plus one's years of credited service add up to 85 retirement was with no financial penalty for early retirement.

Just 3 months after I quit the company sort of closed down (at the end of the union contract) and reopened under a new name an all employees where invited to apply as new hires into a different union. Those they did hire were all back to one weeks vacation after a year of service, had to join a different union and pay a large fee to join, took a cut in pay, etc.

That's the sort of crap and mind games they pulled on most everyone and so we all felt ready for the straight jackets most days.

Several others also got screwed out of there "85" by just one month of service and lost thousands of dollars per year in pension payout. For me it was around $22,000 per year but I managed to keep my sanity and am a happy camper even without the additional $$.
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Old 09-20-2011, 09:24 PM
 
Location: Midwest transplant
2,013 posts, read 5,001,470 times
Reputation: 1570
I retired last June after 33 years in public education and 40 years of continuous employment. Started working when I was 17 and always had a job, even while in college and grad. school. That being said, I went through the same emotions~ "the last time", "I won't be here for this next year" and "let me help make the transition earlier, here are my.....". By the time June rolled around I was so ready to leave and celebrate the summer of no end. I didn't have to worry about my classroom, what courses I needed to take for continuing education, when my class lists would arrive, how I was going to get everything done to be ready for the beginning of school. I wasn't in/out during the summer checking on supply orders, dealing with vendors who needed my explanation for what equipment/appliances needed to be repaired/replaced.

I have been called in to sub and it is wonderful! I can eat with former colleagues, I still know the routine of the school, the voices on the PA system, the student code of conduct and discipline procedures, the schedule, the duties and tasks for each of them, and most of the students recognize me as part of the school faculty. It's delightful to show up and be warmly welcomed, put in a day's work, and return the key and walk out with no papers to grade, no anxiety, no parent to call, no student to track down for make up work...no lesson plans to match standards and plotting progress.

When it became more about testing than teaching and when the administrators became the adversary instead of the advocate, I knew it was time (for me) to leave while I still had my game on and was doing a good job, leaving a legacy I was proud to have been of for so many years.
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Old 09-20-2011, 11:31 PM
 
13,334 posts, read 25,596,053 times
Reputation: 20581
My father never put in for Soc.Sec. and was driving a taxi until a major heart attack at age 75. The hospital insisted on putting him in for Medicare and then for Soc. Sec. Almost immediately, he got a check for something like $15K for having not filed earlier. (I believe he had some fancy cheesy footwork over his life in tax filing, otherwise he'd have gotten more for filing so late in life).
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Old 09-21-2011, 04:47 AM
 
Location: Los Angeles area
14,018 posts, read 17,763,041 times
Reputation: 32309
It seems to me public school teachers have up to four different retirement dates out of their single retirement - let me explain, in chronological order:
1. The last day of required attendance at work.
2. The effective retirement date on the application for the pension with the retirement system, which can be later than, but not earlier than, the date of #1 above. It is sometimes later, by a few days or a few months, to take advantage of reaching a certain age.
3. The receipt of the first pension payment, normally one month after the date in #2 above.
4. The first day of required attendance at work for the beginning of the next school year, but this is the day the retiree doesn't show up.

My contention is that #4 is the "real" retirement date.
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Old 09-21-2011, 07:48 AM
 
Location: SW MO
23,605 posts, read 31,519,632 times
Reputation: 29081
Quote:
Originally Posted by Escort Rider View Post
It seems to me public school teachers have up to four different retirement dates out of their single retirement - let me explain, in chronological order:
1. The last day of required attendance at work.
2. The effective retirement date on the application for the pension with the retirement system, which can be later than, but not earlier than, the date of #1 above. It is sometimes later, by a few days or a few months, to take advantage of reaching a certain age.
3. The receipt of the first pension payment, normally one month after the date in #2 above.
4. The first day of required attendance at work for the beginning of the next school year, but this is the day the retiree doesn't show up.

My contention is that #4 is the "real" retirement date.
The first day you don't show up is the BEST day of anyone's retirement beginnings.

I announced mine and did the necessary paperwork as well as applying for Social Security a number of months in advance so everything was ready to go on Day-1. It was all very gratifying. My actual retirement date was on a Tuesday and my last ever Monday at work consisted of finishing packing and loading my office in my car, turning in my files on my employees, saying goodbye to friends and coworkers and blissfully walking out the door early in the afternoon, never to return but for a few "social" events (luncheons and such) people really wanted me to take part in.

That Tuesday I did my best to sleep-in just because I could.

Pure bliss!
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Old 09-21-2011, 10:35 AM
 
Location: Prospect, KY
5,288 posts, read 17,974,515 times
Reputation: 6544
We happily anticipated retirement for several years before the actualy date occurred....we have never looked back and have no regrets of any kind.
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Old 09-21-2011, 11:01 AM
 
Location: Sequim, WA
786 posts, read 1,909,137 times
Reputation: 888
And...for those who aren't sure about retiring, I wonder how many states have programs like the one in New Mexico, where some retired teachers return to teaching jobs while drawing retirement:

New Mexico Educational Retirement Board - Return to Work program

Quote:
Originally Posted by Escort Rider View Post
It seems to me public school teachers have up to four different retirement dates out of their single retirement - let me explain, in chronological order:
1. The last day of required attendance at work.
2. The effective retirement date on the application for the pension with the retirement system, which can be later than, but not earlier than, the date of #1 above. It is sometimes later, by a few days or a few months, to take advantage of reaching a certain age.
3. The receipt of the first pension payment, normally one month after the date in #2 above.
4. The first day of required attendance at work for the beginning of the next school year, but this is the day the retiree doesn't show up.

My contention is that #4 is the "real" retirement date.
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Old 09-21-2011, 11:51 AM
 
Location: SW MO
23,605 posts, read 31,519,632 times
Reputation: 29081
Quote:
Originally Posted by mrgoodwx View Post
And...for those who aren't sure about retiring, I wonder how many states have programs like the one in New Mexico, where some retired teachers return to teaching jobs while drawing retirement:

New Mexico Educational Retirement Board - Return to Work program
California has had a "Retired Annuitant (Irritant)" program for state employees for years - retire one day and start drawing your pension and come back the next day back on the payroll for up to nine months out of the year. A "lovely" way to double-dip. I believe it's being phased-out, as well it should be.
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