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"Teachers don’t get social security, and unlike firefighters or police officers, most retirees earn modest pensions of about $55,000 a year." $55,000 is a mode
by andy-x 8y ago
"Teachers don’t get social security, and unlike firefighters or police officers, most retirees earn modest pensions of about $55,000 a year."
$55,000 is a modest pension? That is a lot more than social security is paying. Maybe we should move teachers to SSA?
- dragonwriter 8y ago> $55,000 is a modest pension? Yes, it is, especially compare to public safety pensions it is compared to. > That is a lot more than social security is paying. Social security is a minimal safety-net pension designed to mitigate crushing old age poverty (and it's barely adequate even to that task) in the event of absence or failure of workplace-specific retirement plans, not a primary retirement vehicle. > Maybe we should move teachers to SSA? You want the Social Security Administration to take over delivery of classroom education from state and local agencies?
- andy-x 8y agoNope, I want to fix broken system. I'm not saying teachers should get SSA and nothing else, like with many other businesses 403(b) should be available for them. Point is that their future pension should be paid with their current investment, not some future obligations.