Social Security & Medicare

JT45242

(3,192 posts)

9. Awesome good luck -- I remember doing this when I was a union rep and could not get people to understand this

Tue Feb 18, 2025, 02:04 PM

Feb 18

I negotiated that if you retired when first eligible, that the district would buy back 70% of your sick days up to the maximum of like 290.
So more than a year salary released across two tax years.
Then you could opt to retire/rehire at step 2.

If you did not retire when first eligiible, they only bought back 25% of the first 250 days.

I showed the calculation for every column (BA, BA+30, MA, MA+15, etc) and the break even point of double dipping.

Even though the teacher would need to live to 88 to break even, no teachers took the retire/rehire because "but my pension will be 88% instead of 66%" if I do that. Tried to explain that they put some the excess retire/rehire in a 403B as tax shelter and have moer money while you are yound enough to enjoy it.

It was painful, to have people who teach not understand basic math and economics.

Good luck on your returement

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CoopersDad

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I turn 68 in March, what time of year do higher benefits kick in? [View all] CoopersDad Feb 17 OP

January SheltieLover Feb 17 #1

It increases incrementally by month JT45242 Feb 17 #2

Good explanation. Just to add: the incremental increase stops when you turn 70. JustABozoOnThisBus Feb 17 #3

Thanks, I think you've answered my question... CoopersDad Feb 18 #6

The other consideration is how it affects surviving spouse JT45242 Feb 18 #7

Thanks, wife is a retired teacher with CalPers retirement, will receive 50% of my SS CoopersDad Feb 18 #8

Awesome good luck -- I remember doing this when I was a union rep and could not get people to understand this JT45242 Feb 18 #9

an example - if you took the money in April this year Skittles Feb 18 #4

Thanks, Skittles! CoopersDad Feb 18 #5

Yep $255 has been the amount for as long as I can remember too. C0RI0LANUS Feb 21 #10

Hi Skittles. What was your MOS? C0RI0LANUS Feb 21 #11

well you know the options were limited for gals back then Skittles Feb 21 #12

I knew one of the last WACs in the 1980s. You typed up a lot of DD214s I imagine. C0RI0LANUS Feb 21 #13

yup Skittles Feb 21 #14