My Friend Is a Teacher, And The Boss Sucks! Advice?

[Sample00]

Originally Posted by albertGQ

So correct me if I am wrong. But it seems like you are saying the teachers' pension is a good deal if it starts upon retirement as opposed to 7 years early?

Then why doesn't your wife just work till retirement instead of collecting her pension early?

no I dont think its that great of a deal period, but to be quite honest, I dont know what normal pensions are like. It seems to me, after all the years put in, she only gets 45% of her net income, I dunno, just doesnt seem like a lot, ya know?

[Sliver]

Originally Posted by Sample00

no I dont think its that great of a deal period, but to be quite honest, I dont know what normal pensions are like. It seems to me, after all the years put in, she only gets 45% of her net income, I dunno, just doesnt seem like a lot, ya know?

Assuming that 45% is correct (I actually think it is wrong - I've heard 80% of your salary), it seems like a shytload to the vast majority of us who will get 0% of our net income after our last day of work.

[Sample00]

Originally Posted by Sliver

Assuming that 45% is correct (I actually think it is wrong - I've heard 80% of your salary), it seems like a shytload to the vast majority of us who will get 0% of our net income after our last day of work.

I am comparing the amount to what a friend of ours is getting. She retired two years ago and told us what her pension income is. and that amount is 45% of what my wife's net income is now.

[Sliver]

Originally Posted by Sample00

I am comparing the amount to what a friend of ours is getting. She retired two years ago and told us what her pension income is. and that amount is 45% of what my wife's net income is now.

If you're wife is an assistant principal (I think you said that) her salary will be higher than your friend, assuming your friend is just a teacher.

I think it's safe to say 45% is not right. Maybe somebody can be bothered to find the correct number - I'm sure it's publicly available.

[albertGQ]

Originally Posted by Sample00

no I dont think its that great of a deal period, but to be quite honest, I dont know what normal pensions are like. It seems to me, after all the years put in, she only gets 45% of her net income, I dunno, just doesnt seem like a lot, ya know?

But that 45% is if she retired 7 years early right? What if she retired on time at 65? What would the percentage be then?

[psicodude]

Just so you guys can argue over facts:

Public Board calendar: http://www.cbe.ab.ca/calendars/PDF-D...raditional.pdf

Catholic School Board calendar: http://www.cssd.ab.ca/files/school_c...raditional.pdf

Looks like 2 weeks at Christmas to me.

[Sample00]

Originally Posted by Sliver

If you're wife is an assistant principal (I think you said that) her salary will be higher than your friend, assuming your friend is just a teacher.

I think it's safe to say 45% is not right. Maybe somebody can be bothered to find the correct number - I'm sure it's publicly available.

well that may be somewhat accurate but our friend was on the job for 38 years and my wife's increase due to her being an assistant principal worked out to about $300.00 a month, gross, more on her pay.

[Sample00]

Originally Posted by psicodude

Just so you guys can argue over facts:

Public Board calendar: http://www.cbe.ab.ca/calendars/PDF-D...raditional.pdf

Catholic School Board calendar: http://www.cssd.ab.ca/files/school_c...raditional.pdf

Looks like 2 weeks at Christmas to me.

well I wont argue with you for this year, but it changes a bit each year depending on when Christmas falls.

having said that as well, my wife doesnt teach in either of those divisions.

[Sample00]

Originally Posted by albertGQ

But that 45% is if she retired 7 years early right? What if she retired on time at 65? What would the percentage be then?

it wouldnt increase at all.
its based on the best 5 years.
and again, dont quote me but I dont think they work until 65 at some point its almost like a forced retirement or they call it bridging.

[Ashartus]

Just chirping in as someone else married to a teacher:

- I pretty much don't see her except at meal times during September/October or June; the rest of the year is better but she still works a lot of evenings and weekends.
- Teachers in Alberta start well before students go back (I've heard that's not always the case in some other provinces). Also, while the extra holidays are nice in one sense, it's a real pain to be limited to taking those holidays during the school breaks. Pretty much rules out any trips to a lot of southern hemisphere locations, since major holidays can really only be taken in the summer, and you always have to pay peak-season prices.
- Elementary school teachers can be switched to teaching a different grade at any time (or split grade classes); they often don't know what grade(s) they'll be teaching until the school year starts since it may depend on how many kids end up registered in each grade. I don't know if that happens as much at the higher grades. As a result teachers are often playing catch-up to learn the curriculum for a new grade and get all their teaching materials ready during the first part of the school year. Then they also have to do a lot of prep for whatever special needs students they end up with.
- They also buy a lot of their teaching materials out of their own pockets, particularly things like books for the kids to read or materials for special needs students. Our basement is full of teaching materials from whichever grades my wife isn't teaching this year.
- The pension is nice, but keep in mind they're paying huge amounts off each paycheck into it. They also have a pile of other mandatory deductions (including fairly steep union fees) that reduce the paycheck quite a bit.
- Overall I think Alberta teachers are probably paid fairly right now - not overpaid, but not underpaid either. They make a decent living, less than most of the other professions but still reasonable when you consider the other benefits.

[ricoFlame]

Originally Posted by Sliver

Directed at everybody, Rico, not just you.

you quoted me

[jolinar of malkshor]

Originally Posted by Sliver

And the other three months of the year I also know what they are doing - not working.

.

Just when I think you are starting to debate normally you pull out this whopper.

[jolinar of malkshor]

Originally Posted by Sliver

Assuming that 45% is correct (I actually think it is wrong - I've heard 80% of your salary), it seems like a shytload to the vast majority of us who will get 0% of our net income after our last day of work.

The vast majority of 7-11 workers maybe. Most professions and businesses have some sort of retirement plan ei options and what not. Do you not realize that the TEACHERS pay into their pension fund and it is managed quite well. It is not just FREE money.

[taco.vidal]

Its common for people to change professions today. Whether you have a 2 year college diploma or youve spent years in school completing a law degree or completed your articling for a CA, sometimes the profession isnt what you expected and isnt for you.

I know theres a few teachers who quit after a year or two in because they realize its not for them.

For teachers who make it past those first few years it becomes harder and harder to quit because of the salaries, benefits, and pension. If youre 30, 5 years into teaching fulltime, then thats a pretty tough gig to give up even if you cant fataing stand it. Ive got many friends who are in that boat and are miserable but wont do anything about it because it would be financial difficult to give it all up. Makes me think back to many of the miserable teachers who I had that I always wondered about why they were teachers if they seemed to hate it so much. lol

[Sample00]

Originally Posted by jolinar of malkshor

The vast majority of 7-11 workers maybe. Most professions and businesses have some sort of retirement plan ei options and what not. Do you not realize that the TEACHERS pay into their pension fund and it is managed quite well. It is not just FREE money.

TBQH, the pension fund has been poorly mismanaged by the ATA. It is only recently when the last round of negotiations were done and the government opted to kick back the unfunded liability portion of the fund has it become better. The ATA needs to let a better firm manage the fund. thats just MHO.

For those of you who are teachers, dont ya just love that huge deduction off the paycheque. Its gotta be right up there with the "Association" dues.
The ATA is not a union.., its an Association!

[jolinar of malkshor]

Originally Posted by Sample00

TBQH, the pension fund has been poorly mismanaged by the ATA. It is only recently when the last round of negotiations were done and the government opted to kick back the unfunded liability portion of the fund has it become better. The ATA needs to let a better firm manage the fund. thats just MHO.

For those of you who are teachers, dont ya just love that huge deduction off the paycheque. Its gotta be right up there with the "Association" dues.
The ATA is not a union.., its an Association!

Well I wasn't narrowing in on one Association. There have been quite a few well managed funds through out the country most notably the Ontario Teachers Fund.

Never the less, the point was that teachers pay into their retirement, yes, so does the employer but it is not like shazam, I am retired and I have all this retirement money for free.

As a side note, the Public Service Pension Fund was very well managed until the federal government raided the fund for billions of dollars to pay down the debt under the Liberal government. Many factors involved in the public service pension funds.

[Sample00]

Originally Posted by jolinar of malkshor

Well I wasn't narrowing in on one Association. There have been quite a few well managed funds through out the country most notably the Ontario Teachers Fund.

Never the less, the point was that teachers pay into their retirement, yes, so does the employer but it is not like shazam, I am retired and I have all this retirement money for free.

As a side note, the Public Service Pension Fund was very well managed until the federal government raided the fund for billions of dollars to pay down the debt under the Liberal government. Many factors involved in the public service pension funds.

The Ontario Teachers fund is an incredibly well run fund. the only problem with it is, they own the Toronto Maple Leaf sports yada yada!

[taco.vidal]

I was curious what the contribution rates were for teachers in Alberta.

http://www.teachers.ab.ca/Salary%20a...ributions.aspx

2009/10 Teacher Contributions

Contributions in effect as of September 1, 2009 stem from the valuation conducted August 31, 2008. Teacher contributions for 2009/10 are on average 9.51 per cent of salary. This average reflects a contribution rate of 8.05 per cent on salary up to the Canada Pension Plan yearly maximum pensionable earnings (YMPE) of $46,300. The contribution rate is 11.5 per cent of salary over $46,300.

Also curious for other Alberta government workers:

http://www.pspp.ca/code/rate-increas.../news-item.htm

Effective January 1, 2010, contribution rates for members and employers of the Public Service Pension Plan (PSPP) will increase. The contribution rate on pensionable salary up to the Year's Maximum Pensionable Earnings (YMPE) will increase from 6.69% to 9.1%. The contribution rate on pensionable salary over the YMPE will increase from 9.55% to 13%.

You can use the calculators on each site to see how the pensions compare:

http://www.atrf.com/calculators/calcpen_proc.asp

http://www.pspp.ca/calc-pen-disc.html

Enter the same values for each. Youll see the teachers pension payments are higher. Then compare how much lower the teachers contributions are.

Originally Posted by Sample00

TBQH, the pension fund has been poorly mismanaged by the ATA. It is only recently when the last round of negotiations were done and the government opted to kick back the unfunded liability portion of the fund has it become better. The ATA needs to let a better firm manage the fund. thats just MHO.

For those of you who are teachers, dont ya just love that huge deduction off the paycheque. Its gotta be right up there with the "Association" dues.
The ATA is not a union.., its an Association!

[RougeUnderoos]

Originally Posted by Sliver

It's not like it's some secret profession like gynecologist that I have never seen in action before. I sat and stared at one for years and years of my life.

Ah, see, now this is the problem. You are basing your opinions on the observations you made between the ages of 5 and 17.

What you are saying here is basically "look, when I was eight I saw what they were doing, so I know what I'm talking about".

Do you still trust the other observations you made when you were eight? Hell, even 17?

[Rifleman]

Hey everyone, thanks for the advice. Seems my teacher friend will have to stick it out this year, but the thread gave him some resources to pursue.

As for the rest of the thread - derail away.