Why are some companies (like private schools) not offering retirement benefits?

[teebop]

I got offered a full time position at a private school but noticed not retirement benefits. They also renew your contract yearly. To me this is not job stability because low enrollment can determine employment. However, I am not a certified teacher so I can't teach in public schools.

[thetaxlady560]

Because it's not a law that they have to.

Firms that offered generous retirement benefits risk bankruptcy. Look at GM. They budget $75/hour to build a car. $50 to the worker and $25 for the people who don't work for them anymore. Toyota doesn't have the legacy payments and pays $48-$50 and kills them on price.

*you* are responsible for saving for retirement. Plan on putting 10-20% aside and NOT touching it.

[BobLoblaw950]

its a luxury that isnt going to be around much longer.you have to be a 'consultant' to get anywhere.what a scam.

[maliboo_girl575]

Most jobs do not have job stability, and do not have contracts. Employment at will -- you can quit for no reason and they can fire you for no reason.

Retirement benefits can disappear, like lifelong medical insurance. Stopping paying medical insurance for retirees has been approved by the courts in more than one case. Also, there is a good chance that one might get fired right before the major benefits kick in. I know quite a few people that has happened to, especially from the company with *the happiest place on earth*. Just months before lifetime medical or other major benefits are earned, they're out the door. Any employer can fire any employee if they want to, even if they need cause. A few bad reviews (even if your work is perfect) sets you up for a fall and it's almost impossible to win a case.

You're lucky to be able to find a job as a teacher right now, especially seeing that you're not certified. At a top private school with high pay, they'd expect you to have a higher degree (masters or doctoral) as typically 70+% do.

Good luck!