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Schroe Schroe is offline
 
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Schroe
 
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Retirement
Old 06-29-2018, 05:36 PM
 
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So I have an opportunity to change districts. My current district is finally with a contract after 3 years of no contract but it is only for a year. The other opportunity has a contract with merit raises included but medical costs are higher and it is also for a year but the district has a much better history of approving teacher contracts and is known to have strong leadership and teacher support.
I just finished my 4th year in this district (6th year of teaching) and the medical insurance out of pocket costs are highly competitive. Other school pays substantially more but Id be paying more for medical so the net financial gain is minimal.
Question: Am I still better off heading to other district for retirement benefit reasons? There are other reasons why I think the other district is better for me but from a purely financial reason Im thinking that I might pay slightly more in income tax but in the long run the greater pay (and district stability) might be worth making the jump.
Thank you.


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wow.
Old 06-30-2018, 08:27 AM
 
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You are so blessed to have two options on the table, lots of people
are struggling just to find a position so wow!
I would think about:
transportation costs
the stress level of each
Money isn't everything
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Old 07-01-2018, 10:22 AM
 
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They are both one-year contracts, so I would pick whichever one you feel most comfortable with. Without more information, I would probably go with the new district that you say has a better history of approving contracts, leadership, and teacher support.

In my state, our retirement pension is a percentage of the average salary of our last 3 years of service or the highest 3 consecutive years. It doesn't matter if I change districts within the state. It's all the same state teacher pension. We do not pay into social security, but we do pay into medicare. Not sure how it works in your state, but anything can happen between now and your retirement years.
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Old 07-01-2018, 10:31 AM
 
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How is your retirement pension calculated?

What are your reasons besides finances?
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Schroe Schroe is offline
 
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Old 07-01-2018, 04:50 PM
 
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Similar to above except that we also contribute to SS.
Other reasons include a return to a smaller group of students, a return to grades 3 and 4 which I had loved in the past, collaboration opportunities and no teacher cliques, refreshing start, a behaviorist, a Responsive classroom approach, a village school...


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Old 07-02-2018, 12:39 PM
 
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Those are all terrific reasons to make the switch.... I say Go for it!
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