[CAUT] Looming Retirement

[hubert liverman]

Avery and all,

Excuse me for this,as I know not to post to this list.
My father was employed as a College professor for many years. There was a
massive clean out of all Department Heads, etc. He Resigned,and took his
retirement account out to start a Music Store/ Teaching Studio. Several
years later he was asked back to teach again. He was able to buyback his
entire retirement fund for a one time payment. Check out your University and
see if they have a payout plan.

Thanks for bearing with me,

Hubert Liverman
----- Original Message ----- 
From: "Avery Todd" <atodd@uh.edu>
To: "College and University Technicians" <caut@ptg.org>
Sent: Friday, March 11, 2005 12:14 PM
Subject: [CAUT] Looming Retirement


> List,
>
> Just wondering how many of you have started thinking about retirement. I
> know there's at least 2-3 out there who are close to that age! :-)
>
> Yesterday, I did the paperwork to start collecting my full SS benefits. I
> reached full retirement age as of this month, so I can make as much extra
> as I want without and penalties on my SS check. I'll receive my March
check
> the 3rd Wed. of April.
>
> I also found out that I could retire now from the university, if I wanted
> to, although I wouldn't get as much in retirement pay as if I worked a few
> more years. It's a "being 65 & having completed 10 yrs. service" thing
that
> makes me eligible. But they base your retirement on an average of the
> highest three years' salary and figure it on a percentage which goes up
the
> more years you work.
>
> The other possibility is what's called the "rule of 80". Your age plus
your
> yrs. of service have to total 80. That will happen for me in 2 more yrs.
> More than likely, that's when I'll retire from the university, depending
on
> what the retirement pay will be. The more years I work, of course, the
> higher the pay. But I'm 65 + 4 mo. now and I don't really want to work
> full-time for many more years than those two. :-) I'll still do outside
> work but just not full-time.
>
> Just musing in amazement that I actually made it this long. I guess I'm
> officially an old fart now! :-)
>
> Regards,
> Avery
>
> _______________________
> Avery Todd, RPT
> Moores School of Music
> University of Houston
> Houston, TX 77204-4017
>
>
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