Carol Fishburn

I have been negatively by the pension reform. I originally taught for 4 1/2 years in a private school. I stayed home with my children for 11 years. Then I subbed in public schools for several years. Soon after being hired in a public school in 2000, I purchased five years in the pension system. When the changes were made to the pension system, I was deemed a B in the new system because purchased years were not counted in the decision making. These changes then placed me in the system where my defined pension increased by 1% for the next 12 years. The TIAA account gave me a short period of time to make up the missing approximately 15-18% of my pay that I originally expected. Unfortunately, the stress level of the classroom since Covid caused me to have medical issues, forcing me to leave my position 2 years early. I cannot receive my pension for 2 years even though I am 64 years old. The rule of 95 does not allow people to choose when they are no longer physically able to work. I am living without a pay for the next two years. Then once I retire, my pension will be 39% of my pay. My TIAA will give me maybe $500 per month. How will I be above the poverty line in the future. The group of people who started teaching in public schools later in life have been dealt a bad hand. They have not had enough time to make up for the defined pension losses we incurred. We will never have enough money to retire comfortably.

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