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Posted: 6:38 AM Apr 15, 2008
Teacher Retirement Benefits
Teachers and school personnel stay after school to learn more about their retirement benefits. Reporter: WSAZ NewsroomEmail Address: news@wsaz.com |
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ST. ALBANS, W. Va. (WSAZ)--Nearly 19-thousand West Virginia teachers and school personnel have less than a month to decide if they want to switch their retirement plan.
Kanawha County educators met at St. Albans High School, getting answers to help them decide if they should stay in the current plan or switch to the old teacher retirement plan.
The legislature decided to allow teachers to switch to the old Teacher's Retirement System, but only if a certain percentage decided to make the transfer.
The deadline for school employees to decide is May 12th.
Latest Comments
Posted by: Need a change
on Apr 17, 2008 at 01:19 PM
The only chance we have of being able to survive after retirement is to change. Teachers and Service employees in WV, if you don't understand what is going on call 1-866-413-3985 and ask questions. Your employer is obligated to offer you a training session explaining the timelines and etc. HB 101 mandates that. If you research it out you will find that a change is the ONLY way.
[ Report Abuse ]
Posted by: CHANGE!!!
on Apr 16, 2008 at 10:49 AM
IT IS VERY IMPORTANT THAT PEOPLE ELECT TO CHANGE. DO YOU REALIZE THAT $100,000 IN YOUR TDC ACCOUNT AT RETIREMENT EQUALS APPROX $600 PER MONTH. A PERSON MAKING AS LITTLE AS $35,000 PER YEAR AT RETIREMENT WITH 20 YEARS EXPERIENCE WILL MAKE APPROX 1700-1800 PER MONTH (OR MORE). CHANGE NOW!! WAIT FOR YOUR PERSONALIZED STATEMENT AND THEN YOU WILL SEE THE BENEFITS OF CHANGING. WHEN GAS EXCEEDS $5 PER GALLON AND YOU HAVE TO CHOOSE BETWEEN MILK OR BREAD BECAUSE YOU CAN'T AFFORD BOTH YOU WILL APPRECIATE THE FACT THAT YOU HAD A CHANCE TO BUY BACK OR TAKE A CUT. THOSE OF YOU WHO ARE SO DETERMINED THAT TDC IS BEST, WE WILL BRING YOU A REFRIGERATOR BOX TO LIVE IN UNDER YOUR CHOSEN BRIDGE. CHANGE CHANGE CHANGE CHANGE FOR YOUR BEST INTEREST. BY THE WAY, THAT NUMBER ON THE RETIREMENT WEB PAGE WILL TAKE A DRASTIC JUMP AFTER APRIL 17 AND AGAIN AFTER MAY 9. CHANGE NOW. DON'T WAIT UNTIL IT IS TOO LATE. THOSE OF YOU ON LOA OR COMP NEED TO GET A FORM AND CHANGE.
[ Report Abuse ]
Posted by: Benefits?
on Apr 15, 2008 at 06:49 PM
Lets see the suckered us into the new plan then they failed to give us the promised support for the plan now their plan is failing as well they want our money to stake up the plan they want us to pay 7% interest on what they claim we owe. If we have more money in the plan than what they say we should have we still pay a penalty if we cannot pay we must give 1/4 of our years to the retirement board no matter the sum owed does this sound like benefits?
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