ADVERTISEMENT

Search results

  1. T

    OT: Any Burned Out Teachers in Here?

    I am not certain, but I would not be surprised if the NY teachers' pension was better than the NJ teachers' pension. I am certain that the NY State employee pension is far superior to the NJ State employee pension. Proof of that is that all Port Authority workers are in the NY pension not the...
  2. T

    OT: Any Burned Out Teachers in Here?

    Are both social security and the pension subject to the cap? Does the cap come into play for a small minority of people covered by the pension and social security- yes. Someone could teach for 20 years and then become an administrator and make over $168,000 - they are in the teachers pension and...
  3. T

    OT: Any Burned Out Teachers in Here?

    I posted that the pension and social security had common or similar components The salary limit is one even though most TPAF members and social security eligible individuals never reach the maximum
  4. T

    OT: Any Burned Out Teachers in Here?

    It applies to supers and other administrative personnel who are in the same pension
  5. T

    OT: Any Burned Out Teachers in Here?

    You can take it at 67 without reduction
  6. T

    OT: Any Burned Out Teachers in Here?

    I would bet that is accurate
  7. T

    OT: Any Burned Out Teachers in Here?

    Most large employers do contribute to a 401k however so the comparison is not to the local deli but to the largest employers in the country And in NJ the local boards of education contribute zero for a teachers pension or social security. Both those are funded by the State government and have...
  8. T

    OT: Any Burned Out Teachers in Here?

    It is capped the same as social security that is in response to your reply about comparing the pension and social security. Here is other comparison You contribute more to the pension than you do to social security Social security provides a COLA. Currently and for the past 10+ years there...
  9. T

    OT: Any Burned Out Teachers in Here?

    Ocean county is impacted by the changing demographics. Also, the previous funding formula overpaid the large Ocean County towns and underpaid the large Middlesex county towns.
  10. T

    OT: Any Burned Out Teachers in Here?

    Capped at social security max https://www.nj.gov/treasury/pensions/documents/forms/sc0853.pdf#:~:text=PERS%20salary%20limited%20to%20Social%20Security%20maximum%20wage,week%20for%20local%20government%20or%20local%20education%20employees. Since tier 2 in 2008
  11. T

    OT: Any Burned Out Teachers in Here?

    Just Cobra
  12. T

    OT: Any Burned Out Teachers in Here?

    I believe the pension is now capped for many. Since 2010 https://www.nj.gov/treasury/pensions/documents/guidebooks/tpafbook.pdf Better link
  13. T

    OT: Any Burned Out Teachers in Here?

    The new bill on funding should help.
  14. T

    OT: Any Burned Out Teachers in Here?

    Yes, the pension alleviates a lot of the risk, but it is also funded similar to a 401k with both the employer and employee making contributions. It is very similar to social security. Do you think social security pays a fair amount for what you contribute?
  15. T

    OT: Any Burned Out Teachers in Here?

    She is looking in Central and Southern NJ and yes, she is an experienced teacher. I would not say early career but not quite mid- career either. The State funding hit a lot of districts. There is a bill that might give 3/4 of State funding cuts back to districts. No layoffs are one of the...
  16. T

    OT: Any Burned Out Teachers in Here?

    My daughter is looking and interviewed at 5 districts and received multiple offers. Has not taken any yet but is weighing the benefit of several districts to her current one.
  17. T

    OT: Any Burned Out Teachers in Here?

    50 years is to long. The pension calculation is all based off of actuarial data. Most likely the average pension is around 30 years. He also contributed 7.5% of his salary to the pension. Similar to a 401K and more than is contributed to social security. Many people complain that social...
  18. T

    OT: Any Burned Out Teachers in Here?

    My post was not to challenge your savings but just to point out the cost of insurance for individuals in comparison to groups.
  19. T

    OT: Any Burned Out Teachers in Here?

    In certain districts that doctorate means a lot on the pay table.
  20. T

    OT: Any Burned Out Teachers in Here?

    We should be clear that while you had to pay $40k for healthcare that is not what it costs your wife's employer. Your wife most likely pays $7 to $9,000 in premiums on her plan also.
ADVERTISEMENT
Top Bottom
Back