Calculate your public pension

Want to know how your own private sector pension plan compares with a similar job in the public sector. Go here  to figure it out. You can name your imagined public sector job, your average salary and your retirement date.

Let's run an example for, say, a teacher in Illinois. Using hypothetical salary numbers, let's say that you want to retire at age 60 after having taught for 30 years and your final average salary was $85,000. According to this calculator, your retirement would amount to $4,172 a month, or $50,065 a year.

For comparison purposes, the amount of cash that you would have had to save at the same retirement age  to yield the same annual income from a lifetime annuity as this public pension would be about $1.3 million.

Gee.

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  • It is nice to know where us educators stand in the eyes of hatemongers like Dennis Byrne. You see, people like Dennis will not be satisfied until I am homeless and in the ground.

    I mean, my 45 thousand dollars a year job with two master's degrees and five years of experience is obviously excessive. Never mind Mr. Byrne that I pay 9.4 pecent of my paycheck INTO my pension while the state of Illinois picks up .6 pecent of that annual.

    Nevermind I make 20 grand less than I did as a unskilled paralegal. Nevermind I don't qualify for Social Security even though I paid in for 16 years. Nevermind I don't even get paid enough to have a 401k.

    No, scum like Dennis Byrne have made me, a person who gave up alot of money to work with kids, the bad guy. Yep, we teachers and educators are no the enemy. Not the bankers who stole all the money or the politicians who didn't pay there fair share. Nope, it's little old me and my good intentions.

    Yep Dennis, I will die penniless and on your tax dollars someday because today your refuse to recognize the importance of what I do. Unfortunately for me (fortunate to the world) you will be long dead and not able to witness my suffering on your dime. But hey, you a republican, you hate people. So why am I commenting? You don't care about the facts...

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