After 34 years of teaching sociology at the University of Illinois at Chicago, I recently retired at age 64 at 80 percent of my pay for life. This calculation was based on a salary spiked by summer teaching, and since I no longer pay into the retirement fund, I now receive significantly more than when I “worked.” But that’s not all: There’s a generous health insurance plan, a guaranteed 3 percent annual cost of living increase, and a few other perquisites. Having overinvested in my retirement annuity, I received a fat refund and—when it rains, it pours—another for unused sick leave. I was also offered the opportunity to teach as an emeritus for three years, receiving $8,000 per course, double the pay for adjuncts, which works out to over $200 an hour. Another going-away present was summer pay, one ninth of my salary, with no teaching obligation.
Hat tip to NewsAlert.
The current superintendent of the Dallas ISD schools is officially "retiring" from Texas education where he will earn an estimated $200K a year in pension. He's also the new superintendent of a district in Georgia where he will earn just about as much. I can't help but think there's an administrator somewhere who wouldn't cost as much and who wouldn't come with as much baggage. Isn't it strange how some people double dip?
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