Feb 13, 2019
9:37:02am
9:37:02am
Calsters is 2% at 60, but you can retire at 50 if you have 30 years
I am not sure if the % is less if you do it earlier. But say she works till 60 that will give her 41 years.
41 years * 2 % = 82% of her top pay
I believe they contribute 8% a month to retirement, so she will no longer be doing that, but she will essentially be getting 90% of what she was making but not have to go to work. Teachers do no pay into social security, so she won't have anything else coming in, but a 10% pay cut and not have to work at all, ever again, sounds pretty good to me.
41 years * 2 % = 82% of her top pay
I believe they contribute 8% a month to retirement, so she will no longer be doing that, but she will essentially be getting 90% of what she was making but not have to go to work. Teachers do no pay into social security, so she won't have anything else coming in, but a 10% pay cut and not have to work at all, ever again, sounds pretty good to me.
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2/13/19 8:09am
I hate to break it to you, but that is not the ultimate millenial. She is working and has a retirement plan. That is
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