|
EESD K-8 Teacher |
Pediatrician |
Computer and Mathematical Engineer |
Optometrist | Educator | |
|---|---|---|---|---|---|
| Earnings Per Year5 | $165.1K | $150.3K | $142.8K | $134.9K | $82.1K |
| Earnings Per Hour6 | $112.16 | $75.15 | $71.40 | $67.45 | $41.05 |
| Required Education7 | BS/BA/MS | Doctorate | BS/BA/MS | Doctorate | ? |
| Government Retirement Income Benefit8 | $50K | $24K | $24K | $24K | $24K |
| Government Retirement Income Benefit Tax9 | 0 | $-7.3K | $-7.3K | $-7.3K | $-3.9K |
| Government Retirement Medical Benefit10 | $1.57K | $0 | $0 | $0 | $0 |
| Work days per year11 | 184 | 250 | 250 | 250 | 250 |
EESD TeacherA elementary public school teacher working in San Jose, has a BA college degree, has been working 15 years, has taken some extra classes, retires at age 60 and lives until age 85 earns approximately: Work days : 184 (ETA Contract pg. 20) Compensated work days : 184 (ETA Contract pg. 20) Yearly compensated work hours: 184days * 8hrs Salary : $100.4K (ETA Contract) Earnings per year: $100.4K Salary (ETA Contract pg. 77) $ 12.0K Medical (ETA Contract pg. 77) $ 50.0K1 Government Retirement Income Benefit $ 0 Government Retirement Income Benefit Tax $ 2.7K2 Government Retirement Medical Benefit (ETA Contract pg. 61) $165.1K/year Earnings per hour: $165.1K/(184days * 8hrs) = $112.16/hour 1Government Retirement Income Benefit: The Retirement Income Benefit is based on STRS benefit of retiring at 60 with 37yrs service earns a 2.0%*37years = 74% of final pay each year for life. 74% x $100K = $74.3K/year. An expected life expectancy of 25 years: 25*$74.3K/year=$1.86M For each year working: $1.86M/37=$50K/yr Government Retirement Income Benefit Tax: 0 2Government Retirement Medical Benefit: Identified within the ETA contract as 'Evergreen Teachers Association Health and Welfare Trust'. 5 years benefit x $20k/year = $100K (age 60 to age 65) Prorated earning per year: $100K/37yrs=1.57K/year See ETA Contract at: https://www.eesd.org/uploaded/documents/human_resources/2016-2017_ETA_Contract_.pdf See STRS Benefits at: http://resources.calstrs.com/workshop_registration/Docs/CalSTRSFundamentals.pdf https://www.calstrs.com/post/age-factor
PediatricianA Pediatrician working in San Jose, has a Doctorate degree, has been working 15 years, retires at age 60 and lives until age 85 earns approximately: Work days : 250 Compensated work days : 260 Yearly compensated work hours: 260days * 8hrs Hourly Compensation : $62.67/hour (BLS data) Salary : $130,353.60 Earnings per year: $130.4K Salary $ 12.0K Medical $ 15.2K3 Government Retirement Income Benefit $ -7.3K4 Government Retirement Income Benefit Tax $ 0 Government Retirement Medical Benefit $150.3K/year Earnings per hour: $150.3K/(250*8) = $75.15/hour 3Government Retirement Income Benefit: The Retirement Benefit is based on SSA benefit of retiring at 60 with 37yrs service earns a $2040/mo starting at age 62. An expected life expectancy of 25 years: 23yrs*12m/year*$2040=$563K For each year working: $563K/37=$15.2K/yr 4Government Retirement Income Benefit Tax: Based on SSA Contribution: 6.2%*118500 = $7347 (6.2% Employee SSA contribution) Government Retirement Medical Benefit: 0 See BLS: https://www.bls.gov/oes/current/oes_41940.htm See SSA Benefits at: https://www.ssa.gov/planners/retire/AnypiaApplet.html See SSA Employee Contribution at: https://www.ssa.gov/OACT/COLA/cbb.html
OptometristA Optometrist working in San Jose, has a Doctorate degree, has been working 15 years, retires at age 60 and lives until age 85 earns approximately: Work days : 250 Compensated work days : 260 Yearly compensated work hours: 260days * 8hrs Hourly Compensation : $55.28/hour (BLS data) Salary : $114,982.40 Earnings per year: $115.0K Salary $ 12.0K Medical $ 15.2K Government Retirement Income Benefit $ -7.3K Government Retirement Income Benefit Tax $ 0 Government Retirement Medical Benefit $134.9K/year Earnings per hour: $130.5K/(250*8) = $67.45/hour Government Retirement Income Benefit: The Retirement Income Benefit is based on SSA benefit of retiring at 60 with 37yrs service earns a $2040/mo starting at age 62. An expected life expectancy of 25 years: 23yrs*12m/year*$2040=$563K For each year working: $563K/37=$15.2K/yr Government Retirement Income Benefit Tax: Based on SSA Contribution: 6.2%*118500 = $7347 (6.2% Employee SSA contribution) Government Retirement Medical Benefit: 0 See BLS: https://www.bls.gov/oes/current/oes_41940.htm See SSA Benefits at: https://www.ssa.gov/planners/retire/AnypiaApplet.html
Computer and Mathematical EngineerA Computer Engineer working in San Jose, has a BS/MS degree, has been working 15 years, retires at age 60 and lives until age 85 earns approximately: Work days : 250 Compensated work days : 260 Yearly compensated work hours: 260days * 8hrs Hourly Compensation : $59.09/hour (BLS data) Salary : $122,907.20 Earnings per year: $122.9K Salary $ 12.0K Medical $ 15.2K Government Retirement Income Benefit $ -7.3K Government Retirement Income Benefit Tax $ 0 Government Retirement Medical Benefit $142.8K/year Earnings per hour: $142.8K/(250*8) = $71.40/hour Government Retirement Income Benefit: The Retirement Income Benefit is based on SSA benefit of retiring at 60 with 37yrs service earns a $2040/mo starting at age 62. A nexpected life expectancy of 25 years: 23yrs*12m/year*$2040=$563K For each year working: $563K/37=$15.2K/yr Government Retirement Income Benefit Tax: Based on SSA Contribution: 6.2%*118500 = $7347 (6.2% Employee SSA contribution) Government Retirement Medical Benefit: 0 See U.S. Bureau of Labor Statistics: https://www.bls.gov/regions/west/news-release/occupationalemploymentandwages_sanjose.htm See SSA Benefits at: https://www.ssa.gov/planners/retire/AnypiaApplet.html
EducatorAn Educator working in San Jose, has been working 15 years, retires at age 60 and lives until age 85 earns approximately: Work days : 250 Compensated work days : 260 Yearly compensated work hours: 260days * 8hrs Hourly Compensation : $30.20/hour (BLS data) Salary : $62,816.00 Earnings per year: $ 62.8K Salary $ 12.0K Medical $ 11.2K Government Retirement Income Benefit $ -3.9K Government Retirement Income Benefit Tax $ 0 Government Retirement Medical Benefit $82.1K/year Earnings per hour: $82.1K/(250*8) = $41.05/hour Government Retirement Income Benefit: The Retirement Income Benefit is based on SSA benefit of retiring at 60 with 37yrs service earns a $2040/mo starting at age 62. A expected life expectancy of 25 years: 23yrs*12m/year*$2040=$563K For each year working: $563K/37=$15.2K/yr Government Retirement Income Benefit Tax: Based SSA Contribution: 6.2%*%62.8K = $3894 (6.2% Employee SSA contribution) Government Retirement Medical Benefit: 0 See BLS: https://www.bls.gov/regions/west/news-release/occupationalemploymentandwages_sanjose.htm See SSA Benefits at: https://www.ssa.gov/planners/retire/AnypiaApplet.html