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West Virginia Teachers Chatboard

Retirement

by Help

Aug 5, 2011

I'm 37 years old and bought into the "old" pension retirement program. Are there any other teachers other than me that are extremely concerened that the state will run dry of funds by the time I retire? Even if I retire with this pension, I'm very worried that WV won't be able to pay me what they claim as I grow older after retirement. It is currently underfunded by hundreds on millions of dollars and the markets are tanking. How can they guarantee us pensions when all of the unions around the country are running dry? Should I cash out and put my current allocations into a fixed money market account?

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WVEA Will Make Sure We Get Our $ You need not worry. The WVEA will save us all and make sure we get our owed money forever.

On 8/05/11, Help wrote: > I'm 37 years old and bought into the "old" pension > retirement program. Are there any other teachers other > than me that are extremely concerened that the state will > run dry of funds by the time I retire? Eve...See More

Aug 5, 2011

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Reality Are you serious? The country is broke. The US lives beyond its means. We pay an ungodly amount of welfare to those who CAN work, but choose not to. Start limiting the things welfare receipients can purchase. No more steaks, alcohol, and tobacco. No more cash back to buy these things. Start drug testing to those on welfare. Things will get better re...See More

Aug 5, 2011

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JMO Based upon the large number of West Virginia's population that work for the state, all of whom will collect state pensions in the future, the state cannot afford to default on these payments. Refugees spend their pensions in the state, thus supporting every business, public utility, and school system in the state. Halting or reducing state retiree ...See MoreBased upon the large number of West Virginia's population that work for the state, all of whom will collect state pensions in the future, the state cannot afford to default on these payments. Refugees spend their pensions in the state, thus supporting every business, public utility, and school system in the state. Halting or reducing state retiree benefits would ultimately turn the state into a deserted landmass of mountains and empty, abandoned buildings.

Won't happen UNLESS the entire country tanks, or WV's tree huggers continue to attempt to block Marcellus drilling.

On 8/05/11, Reality wrote: > Are you serious? > The country is broke. The US lives beyond its means. We pay an > ungodly amount of welfare to those who CAN work, but choose not > to. Start limiting the things welfare receipients can purchase. > No more steaks, alcohol, and tobacco. No more cash back to buy > these things. Start drug testing to those on welfare. Things > will get better real fast. WV is broke in terms of paying > pensions. Your best bet is to get out and invest on your own. > Look for a guaraunteed rate of return. Don't rely on the Dems of > this state and country. We don't need to "spread the wealth." > All the US does is enable those that should be working. You will > never be able to completely retire. You will end up subbing > until you die. > There is not going to be any money that can pay you > the "guarateend" returns the state says it will. Just a sign of > the times. > > On 8/05/11, WVEA Will Make Sure We Get Our $ wrote: >> You need not worry. The WVEA will save us all and make sure >> we get our owed money forever. >> >> On 8/05/11, Help wrote: >>> I'm 37 years old and bought into the "old" pension >>> retirement program. Are there any other teachers other >>> than me that are extremely concerened that the state will >>> run dry of funds by the time I retire? Even if I retire >>> with this pension, I'm very worried that WV won't be able >>> to pay me what they claim as I grow older after retirement. >>> It is currently underfunded by hundreds on millions of >>> dollars and the markets are tanking. How can they >>> guarantee us pensions when all of the unions around the >>> country are running dry? Should I cash out and put my >>> current allocations into a fixed money market account?

Aug 6, 2011

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Granny When I started teaching back in the 70's, I figured there wouldn't be any money in the retirement fund either. Here I am, nearly 40 years later, living comfortably off of my Teacher's Retirement. At least now the state is putting money into the fund, unlike the earlier years. I wouldn't worry unduly. WV seems to be fairly stable economically, even ...See More

Aug 6, 2011

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