Feb 8, 2007

support the rule of 85 and HB 1199

I started teaching when I was 23.

Under TRS plan 3, I can retire with a full pension when I'm 65. (Plan I retirees could jet at 55.)

That's all it takes: 42 years of dedication.

HB 1199 would change that.
(2) UNREDUCED RETIREMENT. Any member who is at least age fifty-five and has completed at least five service credit years and for whom the sum of the number of years of the member's age and the number of years of the member's service credit equals eighty-five or more shall be eligible to retire and receive a retirement allowance computed according to the provisions of RCW 41.40.790.
Hypothetical: at 55, I'll have been teaching for 32 years. 32+55 = 87 = able to retire on a full pension.

So, which Mr. Anderson do you want? Happy retiree, or burned out curmudgeon?

That's right. Support HB 1199.

1 comment:

Ryan said...

Hear, hear! This is one of the biggest issues the WEA is pushing this legislative session, and I sure do hope it passes. Doubt it will because of the $, but nonetheless....

I'm in the same boat as you. Got my job right out of college at 23 years old, but if I retired with 30 years of experience the penalties would be obscene: 3% off for every year early, so only 64% of the 30% of my salary that I'm guaranteed under TRS3, which won't buy me a cup of coffee.