trade school instead of a bachelor's degree

[eriehiker]

I think that pensions that are 80 or 90 percent of pay are the great exception to the rule. The pension system that I am in has a 1.5% pension factor that is multiplied by the number or years worked to determine the percentage of pay in the pension. So my wife and I will retire in three years and will have 45% of pay. We both are paid in the $60,000 or so range, so it will be about $30,000 per year for 30 years worked. It's nice, but more than fair for the work involved. Also, those who die early or leave the system early tend to subsidize those who work a full career.

The 80 or 90 percent pensions are frequently in situations in which workers do not pay into social security. There are even people who work an entire career paying into social security who lose it by teaching for a few years in a state that does not participate.