I suggest they take the quiz found on this website. The results will speak for themselves. Q. Most educators have pretty good retirement plans. Even though most educators have good retirement plans, they aren t enough to provide the retirement lifestyle we all want. Unless it is unusually generous, a pension alone, supplemented only by what may be available through Social Security, probably won t be enough to give you the lifestyle you need and deserve at retirement.
Most pension plans offer a fixed income equal to a percentage of salary.
You begin retirement with an income shortfall which worsens as inflation steadily erodes the purchasing power of your income. For the past 50 years, Social Security has been the foundation of just about everyone s retirement plans. For today s retirees, the system is a pretty good deal. People both inside and outside the government are saying Social Security might not be around when many of the baby-boomers retire. Studies show that more than 83 percent of Americans ages 18-34 feel the government has made promises to their generation that it will not be able to keep.