Key Takeaway: CalPERS and CalSTRS are pension funds that manage retirement benefits for public employees in California, including teachers. The sources of funding for public employee pensions come from various sources, including employee contributions, employer contributions, and investment earnings. CalSTRS has recently restructured its investment team and offers webinars to help members understand their retirement […]
Key Takeaway: South Carolina teachers have two retirement plan options: the South Carolina Retirement System Defined Benefit Plan and the State Optional Retirement Program. Teachers must understand the requirements of each plan in order to make informed decisions and plan for their retirement. (Source: https://www.teacherpensions.org/state/south-carolina) South Carolina teachers receive employee benefits and competitive salaries, along
Key Takeaways: Teachers in Colorado are part of the Colorado Public Employees’ Retirement Association (PERA), which is the largest public retirement system in the state. The teacher defined benefit (DB) pension in Colorado is determined by a formula based on years of experience and final salary, rather than contributions made on behalf of the teacher.
Key Takeaway: The Teachers’ Retirement System (TRS) is a retirement plan managed by the State of Georgia for educators, including public school educators, University System of Georgia employees, and others in educational work environments. It provides retirement benefits to eligible employees and resources for retirees and currently working educators to plan for the future. Georgia
Key Takeaway: The Arkansas Teacher Retirement System (ATRS) provides retirement benefits to eligible public school and other public education employees in Arkansas, with a mission to provide optimum benefits to enhance the quality of life for members. To be eligible for retirement benefits under ATRS, members must meet membership requirements, service credit requirements, and age
Key Takeaway: The Maryland State Pension Plan is available to employees hired before January 1, 1980, and includes both Teachers’ System and Employees’ System participants who contribute 10 months and 12 months, respectively, of their base annual salary. While actively working, participants are covered by survivor protection and disability coverage benefits. Retirement benefits include a
Key Takeaways: 1. Delaware teachers are part of the Delaware Public Employees’ Retirement System (DPERS), established in 1970 and the largest public retirement system in the state. DPERS has multiple benefit tiers for teachers, depending on when they were hired. 2. Teacher pensions in Delaware are defined benefit (DB) pensions, with pension wealth determined by
Key Takeaway: The Montana Teachers Retirement System (TRS) is an important part of Montana’s economy and provides benefits for teachers and other educational employees who are members of the system. TRS offers a defined benefit pension plan based on years of service and average final compensation for its nearly 20,000 active members and over 16,600
Key Takeaway: The Ohio Teachers Retirement System underwent a pension reform package in 2012 which required public employees to work longer for fewer benefits, resulting in lower cost-of-living allowances for STRS retirees in 2013 and no cost-of-living allowances in 2017. Approximately 150,000 retired Ohio teachers will receive a one-time 1% cost of living increase in
Key Takeaway: The Tennessee Consolidated Retirement System (TCRS) includes all state employees, including teachers, and was established in 1972 by consolidating 7 separate retirement systems. New teachers have been enrolled in the Hybrid Retirement Plan since July 2014, which combines elements of a pension plan and a defined contribution plan. The basic structure of the