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To: Skywatcher who wrote (20391)	6/29/2004 1:22:13 PM
From: Bucky Katt	Respond to of 48461

It sure isn't for the faint-of-heart!!

To: Skywatcher who wrote (20391)	6/30/2004 11:12:41 AM
From: Bucky Katt	Respond to of 48461

OUTRAGE of the month, unreal,>> Texas teachers rush to take early retirement Teachers ready to retire are taking advantage of a Social Security loophole by working as janitors for a day to double-dip on benefits. DALLAS - (AP) -- Thousands of Texas teachers are rushing to retire before a lucrative loophole in Social Security law closes, but there's one catch: They must first spend a day washing windows or scrubbing floors. Most Texas teachers do not pay into Social Security and instead participate in a state pension fund. But the loophole allows them to receive Social Security benefits if their last day of work before retirement is in a job covered by Social Security. School districts around the state helped teachers out by hiring them to work janitorial or maintenance jobs for just a day. The loophole ends today. Junior high school principal Margie Nancarrow said she wanted to spend at least two more years at her school in suburban Dallas, but the benefits were too tempting at a time of soaring costs for health insurance and prescription drugs. ''I'm not wanting to do anything extravagant,'' said Nancarrow, who spent her last day before retirement moving furniture. ``I just want to live a modest lifestyle and take care of myself and not be a burden on anyone else.'' The loophole allows teachers to double-dip into retirement benefits and collect both their state pension and Social Security money. By doing the janitorial work, they become eligible to receive Social Security spousal benefits equal to one-half of their spouse's monthly Social Security check. For instance, if a teacher's husband receives $1,000 a month from Social Security, she would get $500 while also receiving a monthly pension check. Congress changed the law in February after auditors estimated that the loophole could cost the Social Security system $450 million. Auditors also reported that one-fourth of all Texas public education retirees, or 3,521 people, had used the loophole in 2002. Use of the loophole appears to be on the rise this year as well. The loophole's use has been most extensively documented in Texas, but there are about 2,300 state and local retirement plans nationwide. Some of those employees could have used the loophole, auditors said. miami.com