Retirement fund!!!

iVillage Member
Registered: 03-27-2003
Retirement fund!!!
4
Fri, 09-24-2004 - 12:26am
I am working full time at a school and have been informed that it is mandatory that I participate in the retiremnet plan. I don't want to! They take out a bunch. Right now

I want all my money so I can get our debts paid off.

This makes me so mad.

Dana

Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
In reply to: ckjd
Sat, 09-25-2004 - 8:39am
HUGS!!!!!!!!!

Becky -

iVillage Member
Registered: 07-20-2003
In reply to: ckjd
Mon, 09-27-2004 - 1:17pm
I can't believe they would make it mandatory. That's just not right! Is it a pre-tax account? If so, I think you can take up to 3% of deferrals and it won't make any difference in your take home pay. This is b/c they are taking the money before taxes are taken out. I did this when I first started contributing b/c I couldn't afford any more and I couldn't afford not to get every penny possible out of my check.

Good luck!

iVillage Member
Registered: 03-27-2003
In reply to: ckjd
Mon, 09-27-2004 - 7:02pm
Oh, yes. I remember that. I worked at a school for one year (hated it, quit at the end of the school year) and the pension plan was a crummy one and it was mandatory. They were taking out something like 5%!!! Then, at the end of my one year, because I had been working for the system less than five years, they returned my money (after taxing it!), with *NO* interest. Boy, I was piping mad.

I'm sorry you're having to do this too. Are you in NC? LOL

Hope you can make it work anyway.

Blessings,

Heather

iVillage Member
Registered: 03-27-2003
In reply to: ckjd
Tue, 09-28-2004 - 7:57pm
I'm in Idaho. They take a % of whatever your check is. Mine will vary every month because I get paid hourly. This past month they took out $55(my gross pay was 839.00)

That % does make a huge difference. We can't change anything on how much they take out.

In fact eventhough my DH got a raise(works for school district too)he is actually bringing home less because they are taking more out for retirement.

Dana