Don’t twist the facts on teacher pensions
Recently, I viewed two letters regarding the $1 million mark in earnings by retired teachers. The first letter was correct. With the numbers given, 14.5 years is correct. The second letter refutes this. The writer goes on to say that he pays federal tax, health insurance, etc., and that he only sees maybe 64 percent of that. Well, welcome to the real world.
I’m a federal civil service retiree and I also pay taxes and health insurance, etc. When I get my 1099-R annually from the government, my gross earnings are shown, not my net earnings. When asked for his income level on forms, does the writer put down his net earnings?
By the way, if you are one of the teachers getting $5,800 a month, I congratulate you. If not, be thankful that you are receiving a pension at all. In today’s world, defined pensions are rare.