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Old 02-03-2015, 08:50 PM
 
48,516 posts, read 83,890,268 times
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If its as result of union bargaining then its the terms they agreed to likely to get something else. Even the union part of our company did not agree to that when it was brought up. 10 years you were fully vested. From then on out it depended on not only years but amount paid as to per cent. Overtime increased it. The double match includes all vest at age 60 or 25 year at any age. They shifted plan with union and non-union on committee like 1980 and they added COL also. When I retired they also fully funded my retirement. Basically we kept the same per centage but employee contributed all then the double matched at retirement plus added COL. This was worked out with a professional retirement company advisor. The company wanted to solve retention as first objective. Yours just took a different approach on retention.
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Old 02-03-2015, 10:28 PM
 
Location: Southwest Washington State
21,834 posts, read 14,341,548 times
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Yes. please see a retirement planner with your husband. But I wonder if you will be able to find a teaching job elsewhere that easily. Maybe you can if you teach math or science. But otherwise, I don't know. School districts like to hire new grads to save money.
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Old 02-04-2015, 02:54 AM
 
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I teach students with autism and definitely want to stay in that field.
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Old 02-04-2015, 10:58 AM
 
Location: Jamestown, NY
7,841 posts, read 7,323,056 times
Reputation: 13779
Quote:
Originally Posted by texdav View Post
If its as result of union bargaining then its the terms they agreed to likely to get something else. Even the union part of our company did not agree to that when it was brought up. 10 years you were fully vested. From then on out it depended on not only years but amount paid as to per cent. Overtime increased it. The double match includes all vest at age 60 or 25 year at any age. They shifted plan with union and non-union on committee like 1980 and they added COL also. When I retired they also fully funded my retirement. Basically we kept the same per centage but employee contributed all then the double matched at retirement plus added COL. This was worked out with a professional retirement company advisor. The company wanted to solve retention as first objective. Yours just took a different approach on retention.
Public employee pensions in NYS are not negotiated with unions, and they are protected by the state constitution. The governnor and the state legislature can only improve benefits for members in existing tiers (about 10-12 years ago, they shortened the vesting period from 7 years to 5 and added a COLA provision). If they want to limit/restrict benefits, they have to create a new "tier" that only applies to future public employees not to current ones retroactively.

Most current state employees are members of Tier 4, as both the OP and I both are. Employees hired since about 2011 are members of Tiers 5 or 6 which provide much less in benefits and require longer time periods to get them.
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Old 02-04-2015, 03:14 PM
 
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Yes as Linda said (funny my sisters name is Linda) I am tier 4. Thank goodness I got I joined the TRS when I first started subbing, ten years ago. The superintendent was kind of a bully and made it sound like it wasn't optional. When my daughter is in her 20s I will definitely be nagging her to start retirement planning then.
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Old 02-04-2015, 05:39 PM
 
6,212 posts, read 4,715,040 times
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It should be easy to find a job teaching autistic kids. Decide where you would like to live. Find a job and move. I would guess you should have little trouble matching your salary from upstate NY. Winters are too long and nasty where you live.
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Old 02-04-2015, 05:44 PM
 
526 posts, read 508,386 times
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You have to be very careful when you move from one job to another. Even if you got hired by another school system in the state, you would be on probation and therefore have little protection compared to what you have now. If you are terminated, there go your benefits. It's a difficult decision but anyone who is lucky enough to have a job should really think twice before quitting unless they know they're going to inherit lots and lots of money...
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Old 02-04-2015, 09:28 PM
 
Location: Southwest Washington State
21,834 posts, read 14,341,548 times
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Quote:
Originally Posted by NaleyRocks View Post
I teach students with autism and definitely want to stay in that field.
I would think that there would be a job for you anywhere, but I hope you do your research on that before jumping ship in NY.

Good luck in finding a good path forward.
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Old 02-05-2015, 09:38 AM
 
Location: Jamestown, NY
7,841 posts, read 7,323,056 times
Reputation: 13779
Quote:
Originally Posted by Southern Star View Post
You have to be very careful when you move from one job to another. Even if you got hired by another school system in the state, you would be on probation and therefore have little protection compared to what you have now. If you are terminated, there go your benefits. It's a difficult decision but anyone who is lucky enough to have a job should really think twice before quitting unless they know they're going to inherit lots and lots of money...
This is very true, especially if you're moving to a different state. Different states have very different rules about all kinds of things for teachers/public employees. For example, my cousin's wife went back to school and got her teaching degree and planned on teaching in her home state of Massachusetts, only to find that MA exempts teachers from SS. Now, maybe that's good for a 20-something just starting out if he/she salts away that extra 8% into retirement accounts, but it's not so good for a 40-something beginning a new career. They moved to Florida where teachers are covered by SS.
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Old 02-05-2015, 03:49 PM
 
935 posts, read 1,055,637 times
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SS- as in social security?? Wow, that's a gamble I wouldn't want to take.
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