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The women in charge of my kids public school makes 550k as she is on full pension from one school district and is now at our school district. And daughters principal is married to a principal and each make in the 200s.
My kids' two gym teachers make $135k and $145k, respectively. Freakin' GYM? The home ec teacher is making $110k. Top paid teacher in my district is making $165k. He's an english teacher.
Not only is your figure way off but so is your math. Your biggest flaw is in making the assumption that each individual teacher is given a lump sum to collect interest on and taking that lump sum as a value of the pension when in fact that lump sum returns to the state at the end and not passed along to survivors hence the lump sum was never theirs. Its more like the state take 1.5 million places it into an account like you say and pay out as long as the teacher lives then takes back the 1.5 million. It is also a shared risk plan as some collect longer than others. That makes the average payout for a teacher 1.1 million over 25 years if they retire at 55 and live till 80
Not only is your figure way off but so is your math. Your biggest flaw is in making the assumption that each individual teacher is given a lump sum to collect interest on and taking that lump sum as a value of the pension when in fact that lump sum returns to the state at the end and not passed along to survivors hence the lump sum was never theirs. Its more like the state take 1.5 million places it into an account like you say and pay out as long as the teacher lives then takes back the 1.5 million. It is also a shared risk plan as some collect longer than others. That makes the average payout for a teacher 1.1 million over 25 years if they retire at 55 and live till 80
I'm currently on page 100 for Suffolk County teacher pensions. That's 5,000 retired teachers receiving $69,000 and up. I've noticed that the teachers I am findin further the down the list were hired in the 60's, 70's. The more recent hired retirees are receiving much more.
I'm currently on page 100 for Suffolk County teacher pensions. That's 5,000 retired teachers receiving $69,000 and up. I've noticed that the teachers I am findin further the down the list were hired in the 60's, 70's. The more recent hired retirees are receiving much more.
That is how it works and why you need to look at the average payout. Some make higher but for every person at the top of the list there's one at the bottom. To see it in "today's dollars". That's why I called it shared risk. Some live longer and some don't. For every person that lives to 90 there's one that dies at 66 etc. Long Island teachers make more on average than teachers up state so either we are subsidizing them or they are subsidizing the island. Works the same with new versus old teachers. For every teacher making 150k there is one or two making 45. Thus the average salaries being in the 85-90k range. That's how the step increases benefit the taxpayers. By keeping average salaries down over the course of their career. No one want to see it as such. They prefer to only print or quote the extreme top of the list and pass it off as the norm
As others over 1000 pages so you are sampling less than the top 10% of the highest demographic of the fund which is statewide. It doesn't give the full picture.
$85,000 is average long island teacher pension who retired last years after reaching full pension age.
Go and get a quote on the cost of an annuity for a 55 year old that pays $85,000 a year and lasts until both you and your spouse passes away.
That alone is a multi seven figure sum.
Lets say it is a male 55 year old teacher with a wife who is a hottie who is 45. Women can easily live to 85. That is 40 years of that $85,000 pension, $3,400,000 million dollars and the free medical alone is worth around $600,0000. So that is a three million goodbye gift.
So teachers make 4 million over 30 years and gym teachers make 8 million at the same time?
Cool info!
In my town the million dollar homes are all owned by the real wealthy, Teachers. My new neighbor husband is an assistant principal wife a teacher in Nassau County. When I bought my first house when I had kids I was clipping pizza coupons and mowing my own lawn.
They have lawn service, maid service and leased cars in driveway, and why not the neighbors are paying for it.
That is how it works and why you need to look at the average payout. Some make higher but for every person at the top of the list there's one at the bottom. To see it in "today's dollars". That's why I called it shared risk. Some live longer and some don't. For every person that lives to 90 there's one that dies at 66 etc. Long Island teachers make more on average than teachers up state so either we are subsidizing them or they are subsidizing the island. Works the same with new versus old teachers. For every teacher making 150k there is one or two making 45. Thus the average salaries being in the 85-90k range. That's how the step increases benefit the taxpayers. By keeping average salaries down over the course of their career. No one want to see it as such. They prefer to only print or quote the extreme top of the list and pass it off as the norm
As others over 1000 pages so you are sampling less than the top 10% of the highest demographic of the fund which is statewide. It doesn't give the full picture.
Statewide average is misleading when we're discussing insane taxes on Long Island on the Long Islan board. Each district has a contract with their teachers; what is being paid to teachers elsewhere in NYS is not representative of what is being paid teachers in Nassau or Suffolk county.
Plucking a county from somewhere along the bottom: Franklin County.
The median retirement is $42K. The high is $101,188.80 (the only 6 figure sum) to $1,041.60 and taxes are no where near Long Island's.
Status:
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(set 23 days ago)
Location: Where my bills arrive
19,219 posts, read 17,095,590 times
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Looking up teachers I had on the link provided is very depressing. To think they are getting those type of retirements considering the quality of their teaching....
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