Any Illinois school teachers out there?

[HHSTigerFan]

Have a question, both wife and I are school teachers, she claims our checks will be lower now that the federal payroll tax will go back to 6.2%.. I say we don't pay into social security, checks should be the same.. Any possible chance I am right?

 

[daughtersrus]

Have a question, both wife and I are school teachers, she claims our checks will be lower now that the federal payroll tax will go back to 6.2%.. I say we don't pay into social security, checks should be the same.. Any possible chance I am right?

Public school teachers in IL do not pay into Social Security but they still pay Federal taxes and medicare.

 

[HHSTigerFan]

So will our checks be less now that its gone from 4.2 to 6.2?

 

[daughtersrus]

So will our checks be less now that its gone from 4.2 to 6.2?

If the tax rate's gone up, then yes, your check will be lower just like everyone else that is working.

The only thing that teachers do not pay into is SS (TRS instead) so any changes to the other taxes would apply to teachers as well.

 

[HHSTigerFan]

And that's our confusion, neither one of us remembers if our checks went up 2 years ago.. $300 a month a quite a bit..

 

[RitaE]

If you are part of the TRS then it is doubtful you have been contributing to Social Security. If you have a check stub just look and see. Most paychecks will list Social Security and Medicare separately. The Social Security part might say "OASDI"

If you don't have a check stub then you could try pulling a copy of your Social Security Benefits statement and seeing if contributions have been recorded for you. You can do that online.

http://www.ssa.gov/mystatement/

 

[sunshine1178]

And that's our confusion, neither one of us remembers if our checks went up 2 years ago.. $300 a month a quite a bit..

Illinois raised income taxes the same time that the social security decrease happened, so Illinois residents didn't see an increase in take home pay.

 

[Suz D]

And that's our confusion, neither one of us remembers if our checks went up 2 years ago.. $300 a month a quite a bit..

Even if you have to pay the rate is going up just over 2%. That would mean that you must be making $15000/month. 2% of 15,000 is $300.

 

[bridget]

Interesting!!! I'm a teacher in Kansas. I pay social security and I also pay into KPERS (Kansas Retirement System).

I wonder why teachers in Ill. don't pay into social security? Does that mean you won't collect social security?

 

[daughtersrus]

Interesting!!! I'm a teacher in Kansas. I pay social security and I also pay into KPERS (Kansas Retirement System).

I wonder why teachers in Ill. don't pay into social security? Does that mean you won't collect social security?

IL teachers don't pay into SS but into TRS (Teacher Retirement System). When they retire, they will not be able to collect SS but will still qualify for Medicare.

It gets complicated for people that have a second career besides teaching that requires them to pay into SS.

 

[goofyredraider]

IL teachers don't pay into SS but into TRS (Teacher Retirement System). When they retire, they will not be able to collect SS but will still qualify for Medicare.

It gets complicated for people that have a second career besides teaching that requires them to pay into SS.

It is the same in Texas as well.

 

[ohiotinkfan]

From what I just heard today everyone that actually has a job will see a 2% tax increase because the government let the old tax break expire that gave everyone a 2% break several years ago! So the tax on the "rich" translates to a 2% tax increase on none other than "The Middle Class."
In Ohio we pay into our state's TRS and also pay medicare.

 

[riley2008]

From what I just heard today everyone that actually has a job will see a 2% tax increase because the government let the old tax break expire that gave everyone a 2% break several years ago! So the tax on the "rich" translates to a 2% tax increase on none other than "The Middle Class."
In Ohio we pay into our state's TRS and also pay medicare.

Those of us that don't pay Social Security, will not see an increase. Just like we didn't see the tax break. It's pretty straight forward - you pay SS, you get the hike.

So, for 99% of Americans with jobs, they will see the tax increase. (Keep in mind that the tax is only on the first $113,000 )

So to the OP, you are correct.

 

[riley2008]

So will our checks be less now that its gone from 4.2 to 6.2?

No....SS rates have no affect on you.

 

[daughtersrus]

Have a question, both wife and I are school teachers, she claims our checks will be lower now that the federal payroll tax will go back to 6.2%.. I say we don't pay into social security, checks should be the same.. Any possible chance I am right?

Just clarifying that the Federal payroll tax is not the same as Social Security.

Teachers in IL have Federal taxes withheld from their paycheck but they do not have Social Security withheld.

 

[4HppyCamprs]

My husband also does not pay into social security and no he will not be eligible to collect social security (from that job) and as such I do not expect that paycheck to change from the elimination of the social security tax break. He has a second job which he does pay social security taxes and I do expect to see that check decrease.

 

[the5marions]

Since Illinois teachers do not pay into Social Security, that increase will not effect you. However, it appears the State of Illinois will soon increase your retirement contribution by 2%, so that will definitely effect your take home pay. For people not aware, that increase will make the Illinois Teacher Retirement contribution almost 12% of income.

 

[HHSTigerFan]

Our school board has already stated that they will continue to pay the full share of our TRS, so our net pay will remain the same.. But we are lucky enough to work in a school district that's flush with cash..