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Yes, absolutely do your research. For new teachers in my state, it's 10 years of full time teaching to be vested in the pension plan. You still won't get much for your 10 years but you might get some nifty health insurance benefits, which is something that young people don't consider until it's too late. Find out what kind of health insurance retired teachers can procure, if anything, and also the cost. For a career changer, you have to be careful because you won't get your social security contributions back from your first career. It's also hurts if you have a higher earning spouse and intend to file for social security based on the spouse's work history.
Most of the time, in places such as MA and CT, you are grandfathered into what health insurance benefits you could get when you start, but in red states with weak unions, they could change it on you before you file for retirement.
Yes, absolutely do your research. For new teachers in my state, it's 10 years of full time teaching to be vested in the pension plan. You still won't get much for your 10 years but you might get some nifty health insurance benefits, which is something that young people don't consider until it's too late. Find out what kind of health insurance retired teachers can procure, if anything, and also the cost. For a career changer, you have to be careful because you won't get your social security contributions back from your first career. It's also hurts if you have a higher earning spouse and intend to file for social security based on the spouse's work history.
Most of the time, in places such as MA and CT, you are grandfathered into what health insurance benefits you could get when you start, but in red states with weak unions, they could change it on you before you file for retirement.
Not just non/weak union red states do that. My (former) systems screws with the retiree health insurance, or tries to, every year. They also tried to kick us over to Obama Care but found out they couldn't do it. They were trying to take over responsibility for pension distribution but the State Retirement System put a stop to that.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
