Issue link: http://educator.cta.org/i/726969
A New Way to Save New for members is CTA's exclusively endorsed 403(b) Retirement Savings Plan, offering high-qual- ity investment options with easy enrollment. Start saving now to ensure you are on track for retire- ment. Go to CTAMemberBenefits.org/rsp or call 855-604-6222. districts could result in cuts in salaries and educational programs, school employers point out they are already paying higher contribution rates for other nonclassified personnel and are able to handle the increase. Despite ongoing attacks on public pension systems — largely by Wall Street interests that stand to invest that money while making profit off of the fees they can charge each individual — a study earlier this year by the UC Berkeley Center for Labor Research and Edu- cation finds that the majority of teachers are better off with a CalSTRS defined-benefit pension than with a 401(k) plan alone. e reason, according to the study ("Are Teachers Better Off With a Pension or a 401(k)?"), is that retirement income with a 401(k) plan can fluc- tuate unpredictably with financial market conditions. For teachers who work at least five years, the CalSTRS defined-benefit pension provides a guaranteed retire- ment income. Still, any retirement planner would be remiss if they didn't urge teachers to start a voluntary plan such as a 403(b), a retirement plan similar to a 401(k) only for certain tax-exempt and nonprofit organizations like schools and universities. More can be found about them at ctainvest.org. "Young teachers especially have to start contributing to a 403(b)," Ailman says. "Start a retirement account and let it grow for 30 to 40 years." 51 September 2016 51 September 2016 Neighborhood savings at popular places such as: www.CTAMemberBenefits.org The Savings Really Add Up! Typical savings per Purchases Yearly Purchase Frequency purchase per year savings FOOD Dining - Lunch 1 meal/wk $3.00 52 $156.00 Dining - Dinner 2 meals/mo $5.50 24 $132.00 Coffee & Donuts 1 items/wk $2.50 52 $130.00 Pizza 2 purchases/mo $8.00 24 $192.00 EVERYDAY NEEDS & SERVICES Apparel 8 items per/yr $14.75 8 $118.00 Home Improvement 2 purchases/yr $50.00 2 $100.00 Carpet Cleaning 1 purchase/yr $20.00 1 $20.00 Misc Shopping 8 purchases/yr $12.50 8 $100.00 Flowers/Gifts 2 purchases/yr $6.50 2 $13.00 Oil Changes 4 oil changes/yr $6.00 4 $24.00 Cell Phone Service 12 payments/yr $8.25 12 $99.00 Auto Parts 2 purchases/yr $15. 00 2 $30.00 ENTERTAINMENT Bowling/Laser Tag/Mini Golf 4 purchases/yr $6.25 4 $25.00 Theme Park Visits 4 passes/yr $34.00 4 $136.00 Concerts/Sports/Event Tickets 4 tickets/yr $27.00 4 $108.00 Movies 6 tickets/yr $6.00 6 $36.00 Golf 4 rounds/yr $18.00 4 $72.00 TRAVEL Hotel Stays 7 nights/yr $13.00 7 $91.00 Car Rental 5 days/yr $16.00 5 $80.00 Cruise 1 cruise for two/yr $35.00 2 $70.00 Ski Vacation 1 day pass/yr $15.00 1 $15.00 TOTAL SAVINGS $1,747.00 New to CTA Member Benefits! CTA Access to Savings Program Neighborhood savings at popular places such as: www.CTAMemberBenefits.org The Savings Really Add Up! Typical savings per Purchases Yearly Purchase Frequency purchase per year savings FOOD Dining - Lunch 1 meal/wk $3.00 52 $156.00 Dining - Dinner 2 meals/mo $5.50 24 $132.00 Coffee & Donuts 1 items/wk $2.50 52 $130.00 Pizza 2 purchases/mo $8.00 24 $192.00 EVERYDAY NEEDS & SERVICES Apparel 8 items per/yr $14.75 8 $118.00 Home Improvement 2 purchases/yr $50.00 2 $100.00 Carpet Cleaning 1 purchase/yr $20.00 1 $20.00 Misc Shopping 8 purchases/yr $12.50 8 $100.00 Flowers/Gifts 2 purchases/yr $6.50 2 $13.00 Oil Changes 4 oil changes/yr $6.00 4 $24.00 Cell Phone Service 12 payments/yr $8.25 12 $99.00 Auto Parts 2 purchases/yr $15. 00 2 $30.00 ENTERTAINMENT Bowling/Laser Tag/Mini Golf 4 purchases/yr $6.25 4 $25.00 Theme Park Visits 4 passes/yr $34.00 4 $136.00 Concerts/Sports/Event Tickets 4 tickets/yr $27.00 4 $108.00 Movies 6 tickets/yr $6.00 6 $36.00 Golf 4 rounds/yr $18.00 4 $72.00 TRAVEL Hotel Stays 7 nights/yr $13.00 7 $91.00 Car Rental 5 days/yr $16.00 5 $80.00 Cruise 1 cruise for two/yr $35.00 2 $70.00 Ski Vacation 1 day pass/yr $15.00 1 $15.00 TOTAL SAVINGS $1,747.00 New to CTA Member Benefits! CTA Access to Savings Program