Retirement. In the past represented a time when a person left the work force and was rewarded for their years at a particular place of employment. A person could retire and “enjoy their Golden Years”.
I find this somewhat depressing.
I enjoy what I do. I plan to keep doing/teaching/writing for many years to come. However, here in Ohio, there have been many changes in the Teacher Retirement System.
So I went to a local meeting to get the scoop.
I got even more depressed!
First we talked age. In the not so distant past, teachers in Ohio could retire with full benefits with 25 years of service. If a person started teaching fresh out of college, they could retire at age 50. Then it was increased to 30. Now the latest change is 30 years of service and age 65.
Next we talked money. Somewhere in this conversation the representative told us to ask ourselves if we could live the rest of our lives on $2500 per month. While in this discussion the rep started talking about her own retirement which is not the same as the one she was representing.
At the end of the meeting she reminded us that we should monitor the Retirement Board’s website and emails. Under new regulations, the Board may revise ages and percentages as they see fit.
Never has this been more true.