Re: Teacher's Pension Planning

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From: SFPhysics@aol.com
Date: Fri Jan 26 2001 - 16:14:17 PST 

From: SFPhysics@aol.com
Message-ID: <20.113701bb.27a36cd9@aol.com>
Date: Fri, 26 Jan 2001 19:14:17 EST
Subject: Re: Teacher's Pension Planning

<< Subject: 403b Annuity plan
> From: "Shirley Brungardt" <shirleybrungardt@hotmail.com>
> Date: Thu, 25 Jan 2001 19:23:25 -0600
> Thumbs Up! All teachers should take advantage of the 403b. I have had a
> TDA for more than 30 years.
> I'm managing quite comfortably on my pension.
>>

California teachers should have the STRS Member Handbook which outlines
retirement planning. The eye opener is if you cannot make it to 60 years of
age before retirement you take a BIG hit on the pension. My STRS take home
pension will be in the neighborhood of just $1,500 a month after 33 years of
teaching. My 403b allowed me to build up about $500,000 in one account which
I can draw on early if I need to. I am glad someone else did the planning
with a 403b and would advise all teachers to become financially literate.

Al Sefl
Who knew he wouldn't get rich teaching........

p.s. < www.calstrs.ca.gov > is the Cal State website to ask for a Handbook.

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