March 11, 201115 yr Deficit is probably bigger than they think given how they do their math: http://dailycaller.com/2011/03/04/hhs-secretary-sebelius-admits-to-double-counting-in-obamacare-budget/
March 11, 201115 yr I don't know much about the teacher's pensions and stuff, that is why I am asking. Do teachers pay medicare tax also? I think FICA and medicare total 7.75%. There are a lot of other factors to concider also. -What age does pension payout start? -How does teacher pension payout compare to Social Security. Is it more, less, about the same. -If you're paying 10% of your income and getting less that's one thing. If your paying 10% and getting more that's a different story. A person can retire with full benefits after 27 years of service. As stated in another post, you retire with about 65% of your pay, based on your best 3 years out of our last 5 years. Some individuals who coached may not have coached their last year or 2 of teaching and that is a reson for 3 of 5 best years. A teacher's pension is better than social security. Many retirees find that after taxes, which is less and no retirement being taken out of the retirement check, take home pay is only $200 or $300 less per month. If a person starts teaching at 22, they could retire at 49. Teachers do pay Medicare About 30 years ago one had to teach 30 years to retire, but they changed it to 27 years. I believe they should have left it at 30. Edited March 11, 201115 yr by bballfamily added info
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