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All the many people who would discourage a person from entering education because of salary. I want people to think and realize what a good field it is for a number of reasons including salary.
Retiring from Los Angeles you get 80% of your salary for life.
DH moved us to NC 2 years ago but after looking at the retirement here, I am seriously thinking we need to move back to LA. I have already put in 16 years there.
My husband in a PS teacher. He only makes $29,000 a yr. I don't think that is "great pay." He has never had a whole summer off. He stays a week after the kids and starts a week before they do. He is always in some type of traing for a few weeks each summer too. He usually gets 5 week off each summer.
The county I live, and I assume the entire state, pays 5% of annual gross income into the state retirement system. One can collect around 40-45% of maximum salary after 25 years of service and about 45-50% of maximum salary after 30 years of service. They also pay into SS.
Sorry but I disagree. Yes, teachers get a good pension HOWEVER, it is 100% employee funded (at least in MN). You are REQURIED to contribute to that pension fund. The only time teachers can retire at 50 and take a full pension is when districts offer an early retirement option to cut spending. It isn't a guarentee. You also have to have a combination of years of teaching and age to be able to take advantage of this when it is offered.
My husband's company puts 15% of his gross salary into a pension fund (profit sharing) and it will have MILLIONS more in it then any teacher's pension fund. Now tell me who has the better retirement plan?
Your husbands company sounds like P&G same company I work for. I would say you are right. Any civil service retirement package is solid. As are many in the private sector. I dont begrudge the teachers their retirement after all the majority have earned it. Keep in mind the money part of retirement is only part of the package. Its the health benifits and such that really matter most. I feel they like most everyone not in congress senate or the prez should have to contribute towards the cost. Maybe they do I dont know.
I think those congressman and senators have it best and they for the most part are the ones who can in fact afford their own insurances.
Tarheel, help me with the math. Step ten for the Wake County North Carolina web site with a Masters is $47,300 with 30 years at retirement it is $63,979.
You are telling me that you could easiy make $94,600 in the private sector after working ten years and that a pension of $50,000 plus along with social security is a sacrifice? I must be looking at the wrong data for what most folks make.
Are you doubting what she can make in the private sector? I know that when we were younger, DH was making more in his job after 4 years of work then the teachers with a masters +60 and 20 years of experience made in the same town. He also had a retirement plan that the company paid in 15% of his gross salary for him, we contributed NOTHING. The teachers funded their own retirement out of their paychecks with no matching funds from the district. Now after many years in the working field, DH make more then about 3 or 4 teachers combined.
UOTE=golfgal;1865659]Are you doubting what she can make in the private sector? I know that when we were younger, DH was making more in his job after 4 years of work then the teachers with a masters +60 and 20 years of experience made in the same town. He also had a retirement plan that the company paid in 15% of his gross salary for him, we contributed NOTHING. The teachers funded their own retirement out of their paychecks with no matching funds from the district. Now after many years in the working field, DH make more then about 3 or 4 teachers combined.[/quote]
For what most folks make. Certainly teachers in certain fields can make more in the private sector. However I really wonder about the following:
Physical Education
Elementary
English
Social Studies
Certain Foreign Languages
Media/Librarian
Middle Generalist
Home Economics
What are the jobs those fields translate into without a masters degree? What are the jobs they translate into with a masters degree
If only 20% of Americans have a pension today our pension is better then what most Americans have because most don't have one. The average pension is only about $9-11K per year depending on the study. Plus didn't one poster say 5 weeks vacation in the summer after doing workshops etc. Take a teachers salary and increase it by 20% and thats the valid comparison. Add in Christmas/Easter plus and you get the vacation days. Sounds like a great profession to me and 2.8 million Americans must think so because they went into it. If they don't think they made a great choice why are so many staying in it if they can make so much more doing something else ( or cant they)? The turnover rate for teachers is not that out of kilter with the rate that people in private industry change jobs.
Check out the link within the article to the Hoover Foundation study. True a conservative think tank but still a think tank utilizing data etc. Again as I said what a wonderful profession we as teachers have had the opportunity to be part of. Now as those of us reach the end or our careers we can become the envy of those who read Money Magazine by retiring young.
Pension+Investment+Social Security= Teachers.
And yet we don't call any of these benefits socialism??? I can pay a teacher's salary and benefits with my tax dollars, but I can't get decent health care from the government because that's socialism. Go figure.
Tuborg, you and I usually agree but please don't call the summers or breaks "vacation". They're not if you define vacation as paid time off. A teacher who is paid in the summer is receiving deferred compensation which was earned during the school year and is being paid in the summer. Also, I certainly don't have 12 weeks off in the summer and never have since teaching in MD. This past year was 9 weeks and this year is looking to be 7.
PA pensions coupled with SS paid at about 105% of salary. That may have changed in the last few years. MD teacher pensions are also considered one of the least good ones in the US, especially when compared with surrounding states. They used to be better but were changed in the early 80s and changed again in the late 90s. Also, in MD pensions from almost all sources are taxed for state income tax.
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Just like I said
