When do they receive their pension, and at what
Posted on: May 4, 2018 at 08:05:19 CT
tman MU
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Percent of their salary. They are also not taxed on social security, so that is a savings of 6.2%. Do they pay the medicare? If not that is another 1.45%.
This means they are paying 6.85% percent to their retirement. Which comes much earlier and at a higher amount than the private sector. The private sector is paying the 7.65 rate on SS which pay at age 67 now. Which, is 15 years after a teachers pension starts, assuming they start right after undergrad.