Advice to new faculty, item 99

It has come to my attention that if I were living in a state that paid into Social Security, and I continued to make what I am now, and I retired at age 67, I would draw about $2,000 per month in Social Security for life. Since Social Security taxes are not taken out of our checks here, we are expected to invest this money in retirement, but  investing that amount has not increased my projected retirement income by anywhere near $2,000 per month.

That is another important reason not to work long term in Louisiana or other states that do not pay into Social Security. I have always known this in the abstract and have been on the job market as much as I have for this reason, but seeing that it really is a loss of nearly $2,000 per month, for life, is quite chilling.




Leave a comment

Filed under Banes, News

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s