Using this calculator, you can find out how much you can save at the end of your career and how much money you can draw down annually from your savings during your retirement years.
For example, a 45-year old employee who expects to retire in 20 years at age 65, and who stops paying annual dues of $1,000 and instead puts it in an account earning 5 percent annually upon retirement will accumulate $34,719. During a 20-year retirement period he or she can draw down annually $2,653.
Many join a union to get benefits like affordable liability insurance and discounts for home/auto insurance or entertainment tickets. But there are alternatives where you can receive these benefits – and more – at a much lower cost than union dues.
• American Education Association
• National Public Employee Alliance
• Christian Educators Associations
• Teacher Guardian
Provides an alternative to teachers’ unions with direct access to representation on labor and employment matters – without politics.