Cairo Association of Teachers - Newsletter

CAT Tracks for August 27, 1998 2.2 Upgrade Correction

Oops...

At some point in time, I was given some incorrect information which I passed on to you.

So...PLEASE READ THE FOLLOWING !

If you want to be able to retire after 34 years of teaching at the full 75% pension OR if you want to receive a higher percentage pension (2.2% times your number of years of experience) if you retire with less than 34 years, YOU MUST PAY TO UPGRADE!

In earlier publications and correspondence, you were told that if you were going to teach for 20 more years, you did NOT have to do anything. That is NOT TRUE !!!

The cost of the 2.2 upgrade is 1% of your highest salary for the past 4 years times the number of years that you actually need to upgrade--up to a maximum of 20 years. If you act by September 15th, you can lock in the 1996-97 salary (assuming that it is your highest for the four consecutive years up to that point). If you wait until after September 15th, then you must consider the 1997-98 salary which is probably higher.

BOTTOM LINE: CALL TRS TODAY!!!

The number is 1-800-877-7896. The lines are very busy, but keep trying. TRS can tell you over the phone exactly what it will cost you to upgrade. Ask them to send you the upgrade application ! That will speed up the process so that you can meet the September 15th deadline.

SO...ACT TODAY!!!