Key Takeaways: The Kansas Public Employees Retirement System (KPERS) was established in 1962 as a retirement plan specifically for Kansas teachers, offering different benefit tiers based on hire date. KPERS offers different retirement plans for Kansas teachers, including a cash balance plan for new teachers, where employee contributions and a guaranteed minimum return are provided. …
Key Takeaway: Constitutional authorization is important for fully funding a Cost of Living Adjustment (COLA) in the Texas Teachers Retirement system, as highlighted by HJR 2. Senator Joan Huffman played a significant role in introducing and revising HJR 2, showing her commitment to the betterment of the system. The passage of HJR 2 in the …
Key Takeaways: The West Virginia Teachers Retirement System (WVTRS) provides retirement benefits for teachers in West Virginia. The pension calculation for WVTRS takes into account factors such as average and median pension values, years of service requirement, and final salary calculation. Contributions to the WVTRS pension fund are made by both teachers and the state, …
Key Takeaways: Teachers in Iowa can participate in the Iowa Public Employees’ Retirement System (IPERS) for their retirement benefits. The IPERS program provides a defined benefit pension plan based on factors such as years of service, retirement age, and contributions made by both the teacher and their employer. Iowa teachers have the option to retire …
– The Kentucky Teachers Retirement System (KTRS) plays a crucial role in supporting the welfare of teachers by providing pension and health insurance benefits. – KTRS collaborates with public sector purchaser organizations, which benefits both teachers and the overall education system. – The financial health of KTRS is strong, with a steady increase in assets …
Key Takeaway: The Utah Retirement System (URS) was founded in 1963 and includes teachers as part of its retirement plan. New teachers have retirement options within the URS, including the Hybrid Retirement System that combines a defined benefit (pension) portion and a defined contribution (investment) portion. The Defined Contribution Plan offers a retirement option where …
Key Takeaway: The Vermont Teachers Retirement System provides pension benefits to eligible teachers in Vermont. The pension value is determined based on various factors such as years of service and average final compensation. There are different benefit tiers in the Vermont Teachers Retirement system, with different eligibility criteria and benefits. Introduction to Vermont Teachers Retirement …
Key Takeaways: The Wisconsin Teachers Retirement System (WRS) is a comprehensive retirement system for Wisconsin teachers, administered by the Department of Employee Trust Funds and managed by the State of Wisconsin Investment Board. Employees are automatically enrolled in the WRS, and eligibility for benefits is based on appointment type, hours of work, and years of …
Key Takeaways: Teachers in New Jersey can qualify for a pension by meeting the minimum service requirement. The New Jersey Teachers Retirement System has different benefit tiers based on the year of hire. Pension wealth is calculated using a formula that takes into account various factors, such as salary and years of service. There are …
Key Takeaways: MARSP offers educational opportunities, exclusive discounts through partnership with AMBA, and a supportive community for Michigan teachers in retirement. The Michigan Public School Employees’ Retirement System provides access to medical plans through Blue Cross Blue Shield of Michigan, allows retirees to manage their retirement accounts, and provides information on COVID-19 vaccine availability and …