WACO, Texas (FOX 44) – This month the U.S. Inflation rate has reached its highest point in over 40 years, and retired teachers are feeling the impact.
Retired teachers are coming together with their worries ranging from keeping the lights on and fear of accidents in the future.
“From last month to this month, the electricity bill has doubled. Water bill has doubled. Insurance has gone up. I was paying $188 and it’s now $240,” said Lydia Carrillo, a retired school teacher.
Retiring in 2014, she’s no longer teaching but she’s had to get a part-time job, and is now back to full-time work.
“It’s hard when you’re retired and trying to keep up working long hours like I used to. It’s not the same.”
Retiring on a set pension, the state’s teacher retirement system hasn’t made a cost of living adjustment since 2013 only benefiting those who retired before 2004.
“If your income hasn’t gone up as much as inflation, you’re going to have to make some choices. That may be spending a little bit less in one place in order to do something else,” say Ray Perryman, Economist from The Perryman Group.
“Right now, I have friends who are without hot water right now because they can’t afford a water heater,” said Carrillo.
Carrillo is a member of the Texas American Federation of Teachers and is working with state legislature to find a solution to this problem.
“They do know the data. They have the statistics. It’s a matter of coming up with a formula that will help. When does that happen,” said Carrillo.
Carillo also shares cafeteria workers and bus drivers who have retired are also impacted.
For anyone who has retired from the school system, the Texas American Federation of Teachers has a newly formed retiree group.
You can join by clicking here.