Monday, March 29, 2010

Work and Paychecks

In my continued effort to be aware of what's going on with my salary / paycheck / and overall finances I just made an interesting (I'm staying positive) discovery!

State employees pay into something that is different that Social Security so the rules also differ when benefits and retirement are options. In light of getting my +48 credits on my paycheck April 1st, I also read my mail from the retirement program.

New legislation passed and I'm going to fit into the category of the Rule of 85. This means that my age and service years have to add up to 85 years old. So, assuming I take no time off and work in this state for my whole career and don't switch career's outside the public school system I'll work for 32 years and be 53 when I will be able to retire. I don't know if that is the minimum retirement to get 100% benefits or if that is the point that I would get 100% benefits, but it is interesting to look that far away. Now, all that being said I don't really honestly believe that the rules won't change again but as it stands this is where I am. It's a starting place, eh?

32 years from now it is hard (obviously, impossible) to imagine what life will be like for me and the world. Will I have kids? What else will I do besides the day to day teaching for a career? Where will I have been? What will I have learned? Will I still like my job? What will teaching be like? What students, families, or communities will I be a part of?
All from a piece of business mail.