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Leave and lose retirement, or risk it
Old 05-14-2018, 09:44 AM
 
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I got a late start to my teaching career. I had long been a stay home mother, then an unexpected divorce caused me to find a career as a teacher. I've taught a total of 4 years, then took a year off to get my master's in school counseling.

I have a total of 6 years in my state now, and I'm just about worn out with the drama and teacher fighting and student's parents who think the counselor is the devil. Also, the district is in trouble and closing schools, and I fear they will some day close mine and I could possibly be out of a job in a year or two due to that.

I've heard that if you stay till you're 60, you can draw retirement. It wouldn't be much, but it would be a monthly check, and without a husband, my income is very small. I turn 60 in 6 more years.

Do I stay and work another 6 years? Or do I leave now? I have an opportunity for a full time position at a hospital, but fear letting go of my retirement benefits for working at a school.

Any advice, or anything I haven't thought of yet? The end of the year is nearing and I need to make a commitment to next year, or walk away.


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Old 05-15-2018, 01:41 AM
 
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Have you compared the change in benefits and salary from your current job to the new one? Also, have you considered changing schools or even districts?
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Old 05-15-2018, 04:29 AM
 
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I would check and see what the rules are for retirement in your area. Every place has different rules. Here it is the rule of 85 now. Age+years of service = 85 and you are eligible to retire, so you wouldn't be able to retire here at 60 with 10 years of service.


Every little bit will help when you do retire. I suggest looking into other schools in the area. But you know yourself best. If you are truly worn out and a change of scenery won't fix it, maybe it is time to look for something else.
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What's more secure?
Old 05-16-2018, 05:58 AM
 
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I don't know what state you are in, but the retirement benefits from education are basically non-existent unless you have at least 20-25 years vested in the state's public school system. You should stay with the job that will give you some security because jobs are very hard to obtain these days. I know you can start collecting Social Security benefits at 62, even if you continue to work.

I would ask the human resources office in your district for some additional information, perhaps they can give you the best answers to help you make your choice.
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You might
Old 05-16-2018, 11:38 AM
 
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make an appointment with a counselor at the agency for your teacher pension (state or local, usually state) and at a Social Security office as well to find out exactly what you might be eligible for under the if A, if B options. Call and set up appointments, the wait in the Social Security office is horrible if you don't have an appointment.

Some states do not have employees pay into social security and this drastically reduces your retirement under SS (by about half) as well as removing survivor benefits for your ex's SS--likely depending on the laws and your divorce arrangement.

It would be helpful to know exactly what your benefits might be in making these decisions. It is never too late to start investing and saving toward retirement even if it means doing some scrimping now for a reasonable life later. The more you can make now along with a reasonable retirement benefit, the more you will have later.

You might also want to consider the job you take might be such that you can continue in it for several years beyond 62 or 66 or have a part-time component during retirement.


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Tough it out...
Old 05-16-2018, 02:13 PM
 
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6 more years and get the gauranteed monthly check if you can. That is what I would do and if they cut the counseling position then be a classroom teacher. I know teaching has become a less than desirable profession, but just do what you got to do so you will have some financial security in your golden years. I feel your pain, I really truly do.
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