Відео

I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes...

@@MayaPaisley- That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well

@@FernandoBowen-78 My advisor is VICTORIA CARMEN SANTAELLA;

You can look her up online

@@MayaPaisley- The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?

That blows! But it also based on the year you are born (allows you to work sooner), nothing you could really do about it.

Looks like you are cherry picking as well. The video did not specify Kentucky. There are people that do live outside of Kentucky. The information is general data to start to understand he WIP.

@@fdiaz4292 - I find it interesting that none of these retirement organizations are asking states to collect FICA and join SS. They all seem to make SS the boogeyman. Additionally, there are so many folks wishing they could avoid paying FICA and invest themselves; this is a group that is complaining that gets to do exactly that.

Make sure you understand WEP and GPO

Only 2.7 million public servants out of 20 million will fall under HR 82. That's one of the problems. Every public servant thinks they are going to receive a big SS windfall. Some presently receiving both a public pension and SS may lose some of their SS benefits may lose SS benefits if this pass. It's mass misinformation being used to get this passed. With the number of cosponsors, I think legislators will be the winners if HR 82 passes. "Because WEP and GPO improve the fairness of Social Security benefits, removing them would be unfair. Such removal would transfer resources from all taxpayers and beneficiaries (including government workers with covered pensions) at an amount estimated by the Social Security actuary as equivalent to a permanent increase in the payroll tax of 0.12 percent, $150 billion over the next 10 years, and moving the date of Trust Fund exhaustion forward by a year, to about 2.7 million beneficiaries currently affected by WEP and GPO. Neither the moral justification nor economic efficiency gain for such a transfer is apparent." www.aei.org/economics/the-social-security-fairness-act-is-unfair/

I did not spend a lot of time studying my pay-stubs but I did notice that FICA dude taking a cut. I think I would have noticed when he quit and asked why.

They're not saying a pension isn't earned. If you watched the whole video, they point out that many teachers pay into the pension and do not get a benefit, or get a small benefit, all while not paying into social security, and therefore not being eligible for those benefits. I'm one of those teachers. I worked, I contributed to the pension fund, but I'll get nothing. I wish my benefits followed me to my new job. It seems unfair to work for 9 years and have only my own personal savings, while most people in this country have a retirement benefit from their employer and social security benefit to boot. That's the point the video is making.

I also qualify for SS but will be subjected to the windfall

Why is that?

Actually this is the one of the best presentations on the topic

Should be appalled by lack of SS and pension retirement dates this day and age especially Ohio STRS

And you know that is the teachers that aren't getting SS?

And so instead of saying, hey, everyone should get the same thing, you just want to tear down this group that does? That doesnt make sense. Instead of griping what these teachers are getting, perhaps persuade your reps to give you want they got--pensions guaranteed for life.

@@TheJetstream10 "Get the same thing", not really, work hard and get what you deserve. Save. Invest. I put my funds in 401Ks and IRAs and brokerage accounts, then some real estate. Take a little risk and it grew. Differed gratification.

@@charleslemaire8137 That's not responding to the point I was making. There is attitude in our society to look at public employees, especially federal, with pension plans and health benefits and tear them down. What they don't do is demand those same benefits, which they once had before the Reagan Administration, and get better instead of griping about another class of workers.

@@TheJetstream10 - In no way do I believe in equality of result, we should get equality of opportunity. But the topic of this video is Teacher Pensions and Social Security. This usually comes down to gmvt workers wanting SS benefits of a low earner when they are a higher earner. You mentioned Reagan, so I assume this is the issue. But I am lost in your phrasing. There are 35 states that pay SS and 15 that don't, so this is really a CHEAP state problem. In the 35 states, all of those teacher "drop-out" and short timers were contributing to SS. But that group of teachers in the 15 states find out too late that they should have been saving and investing that 6%. Another interpretation, which is what I tried to address, is that personally, I have never worked for a company with a pension. I saved and invested in vehicles available to me. Never had serious pension envy; it was my choice. Sorry, if I missed the point again.

I’ve heard that there is a growing contingency of support for change…

The military and Teacher retirement should be beneficial correct?

Does simply receiving a pension at all reduce social security earnings?

@@chadsdadbrad If you draw money from a pension that didn't cut for Social Security, it counts against the SS you quailfy for.

@@Manatti06 They are...however in my case, to retire from the Army Reserve you have to serve 20 years plus you don't start drawing benefits until you are 65.

Thanks for the tip bro

I doubt teachers- whoops!- educators are suffering. Have you ever seen a teachers living in a shelter, under a bridge, or in their Subaru Forrester?

Maybe, but the fastest growing segment of millionaires in America are retired cops, teachers, and firefighters. If that weren't the case we wouldn't be counting these folks in the millions.

That depends. It is my understanding that a teacher working in a state where teachers contribute both to a state retirement plan and to Social Security, that person can receive benefits from both once he or she becomes eligible. Kentucky, California, parts of Texas and 12 other states opted out of paying into Social Security. Now a teacher can receive Social Security if he or she put enough quarters in, at the right time, if a teacher in the 15 states that opted out. I understand this is very hard to do. There may be ways for a teacher to receive Social Security benefits through a spouse or ex spouse, if married more than 10 years. There is no problem if the spouse is receiving Social Security benefits, and the teaching spouse is still working. Once the teaching spouse retires things change. I really can't explain it...something about a two thirds cut. Again this is in states that opted out of Social Security for teachers. It is my understanding that in states that teachers paid into Social Security and teacher retirement there is no problem. I retired from Probation and Parole in Kentucky in 1997, and started drawing my retirement immediately. I paid into Social Security and state retirement during the 20 years that I worked as a Probation and Parole Officer. I continued working and paying Social Security. I recently started drawing Social Security. It had no impact on my state retirement.

In California, if you began teaching 19-20 years ago or after, you are not able to collect your petition and more than 1/3 of your social security (or dead spouses) regardless of your SS Credits earns prior/after teaching. We don't pay into it. Only Medicare at my job.

@RWrwrwrwrwrw that's still 1/3 vs $0 if you didn't reach the 10 years = 40 credits.

Amen to that

Teaching the next generation is a greater public service than selling a cancer-inducing, obesity catalyst.

Teaching is not a job, it's a career like being a doctor or lawyer.

@@AeroPiggy aren't you special. I bet you love your big mac!

​@@steveworldwar2 it's a job. Most teachers would stike and panic if they had to work a full year like the rest of America.

@@renaehenderson9625 who told told you we dont? Lol. We cram more than a years worth of work in hours and into 10 months and dont get paid for 2 of those months. You should reach out to the teachers you were blessed to have and ask them about the 2nd and 3rd incomes theyve had to get because the pay is low. You assume things about a profession you know little about from within. Your comments prove that you were okay with being ignorant and speaking out of turn in class. But as some probably told you, it's never too late to learn 🥰

Social security is insolvent Public sector funds are broke The politicians will say “ tax the rich” and it will magically fund it using common core math!! “ Ohio retired teachers’ pension fund suffers $5.3 billion loss as staff get bonuses”

alicia bryant j

The "medical population" provides needed services. PhDs do not.

Onofrio Bacigalupo most “medicine” is a scam

This is completely fictional. I know a lot of teachers and the idea that they can cash out "vacation pay" to boost retirement is untrue. What do you even call "vacation pay"? Teachers are paid for the 182 days they teach. They are not paid over summer even though most spend a lot of time in summer and on the week-ends preparing and corrrecting. If you accumulate sick days, you can just take them at the end sand retire a couple of months early, but it does not increase your pension.

You don't know what you're talking about. No teacher gets 100% medical whether working or retired.

These are the idiots interpreting teacher pay and are totally clueless..

So what I hear here is crying and whining. Who else in the world has a pension nowadays? I’m not doing fundraisers for my kid so I can retire your azzes with a pension! You sure as fk aren’t doing it for me.

It's the workers right..... Especially working for the public and dealing with all types of conditions....health, mental, kids learning abilities and disabilities and lazy parenting skills is a problem. Citt Public workers are essential and deserve their right to get paid unused days payout. BRAVO!!!

Many states allow you to purchase pension credits in your 'new' state...You can use the money your previous state gave to you when you left to purchase the credits...

You must be joking....

David Herman No, you must be joking.

The dummest comment I've heard.

A McDonald worker deserves to take responsibility for his own ass and make himself better. You can't compare the two. You failed because you picked that life. Go watch some Tony Robin videos and grow

It is up to the Mc Donald corporation (business) to set up a pension plan for their employees. If they really wanted too. It is possible.

Teachers give up higher salaries for promised benefits. Otherwise you wouldn't have any teachers.