I don't get a big paycheck because a lot of it goes to my pension fund. So if you don't mind, when I retire, I'd like to get back every stinking penny I put in! Because I am Vero Varela: Greedy Teacher
Been doing some math here. If a teacher retires at 65 (and how many can last that long?) they have perhaps 20 years of life left. To get 40K a year for the rest of their life (800K) they would need to have started teaching at 25 and put 20K in their retirement fund EVERY YEAR FOR 20 YEARS.
Alcaraz surely can’t be this ignorant. Of course you get back every penny you put in and much more, unless it gets stolen. Retirement accounts are possible because the money is INVESTED in T-Bills (i.e., borrowed from your children) or money markets (i.e., those big evil rich people that are denying children education by not paying enough taxes).
May 22, 2015