Retirement
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Membership Makes Dollars and Sense
How much was LB674, the NSEA's 1999 retirement legislation, worth to you? Its value is just one indication of what collective membership means to the individual.
A teacher retiring in 1999-00 and who earned an average salary over the last three years of $35,000 and taught for 35 years, would receive an additional $1,242 per year in retirement benefits, as a result of LB674. Based on 20 years of retirement benefits, that's $24,849 in additional retirement income. LB674 also provides a 2 percent annual cost of living increase. Over 20 years, that provision could generate an additional $101,442 in retirement income!
Together, those two new benefits mean $126,292 additional retirement dollars over a 20-year retirement! That's right. Teachers received a significant increase in retirement benefits because of NSEA's work to pass LB674 into law.
In fact, those changes dwarf your investment in NSEA membership. That same teacher would have paid a total of $3,404 over 35 years for NSEA membership duesDon't be penny-wise and pound-foolish. Your continued membership and support of these efforts is important -- and history shows it's an excellent investment as well!
For more information on the school retirement plan, please visit the Nebraska Public Employees Retirement Systems web site.
