NinerSickness
Well-Known Member
- 61,362
- 11,402
- 1,033
- Joined
- Aug 3, 2011
- Hoopla Cash
- $ 200.00
Here are the numbers used to calculate the TMV of the average teacher salary + value of pension. Now I hope you can stop calling this an "agenda" or an "exaggeration."
Average age of member death: 86.1 <--- And this is trending upwards
Current 10 year boond rate: 2.09%
Average teacher pension in California: $51,072
Average amount of money contributed to retirement over 30 years at 8% of salary with a 2.09% rate of return compounding monthly: $223,422
Median retirement age of CALSTRS member: 61.2
Average length of retirement: 24.9 years
24.9 years times $51.072 is $1,271,693
$1.271,693 minus $223,422 is $1,048,270. That amount divided by 30 years (fully vested) is $34,942 per year.
$34,942 + $67,871 = $102,813
Plus: there's excellent medical coverage.
Average age of member death: 86.1 <--- And this is trending upwards
Current 10 year boond rate: 2.09%
Average teacher pension in California: $51,072
Average amount of money contributed to retirement over 30 years at 8% of salary with a 2.09% rate of return compounding monthly: $223,422
Median retirement age of CALSTRS member: 61.2
Average length of retirement: 24.9 years
24.9 years times $51.072 is $1,271,693
$1.271,693 minus $223,422 is $1,048,270. That amount divided by 30 years (fully vested) is $34,942 per year.
$34,942 + $67,871 = $102,813
Plus: there's excellent medical coverage.
Last edited by a moderator: