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Reply to "Whose non-government relatives have pensions?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]My mother was a school teacher in a tiny district on Long Island. She gets about $8k/month, plus social security, plus they reimburse for all the Medicare supplements. Thankfully she gets all of this as she’s now in memory care [/quote] That’s a huge pension for a teacher. [/quote] Not really. My spouse is a teacher in the Midwest. He currently earns about 125k a year. He will retire in about ten years. By that point, his final salary will be around 150-160k. His pension is based, in our state, on the number of years he's put in. With a little less than 30 years in, he will get about 60-65% of that. If he stays to get 34 years he gets 75% of that which is the max percentage you can get. He does have nearly the max amount of degrees so he is on the highest pay lane. And he's in one of the highest paying districts too. He will easily get 8k a month in retirement. [/quote]
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