As members of the UFT you have access to a host of benefits that come into play later in life. One of them is the Tax-Deferred Annuity (TDA). This benefit means money comes out of your salary pre-tax and is put into an investment account of your choosing (from a small list) that can gave interest at a higher-than-average rate over time. The Teacher's Retirement System provides this benefit and is open not only to teachers and pedagogues but also to paraprofessionals. One of the funds available has a guaranteed 7% return year after year for members in Tier VI (the most recent tier of the plan). Since The Federal Reserve's rate is currently around 1.5-1.75%, this is incredible!
Talk to any of the veteran teachers for more information about this if you'd like - many of them have been investing for years.
Additionally, I wanted to share the blog version of the Consortium Worker. If you didn't get a chance to read the pamphlet, please take a few moments to look at it.
Talk to any of the veteran teachers for more information about this if you'd like - many of them have been investing for years.
Additionally, I wanted to share the blog version of the Consortium Worker. If you didn't get a chance to read the pamphlet, please take a few moments to look at it.
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