Key Takeaways: The Teachers’ Retirement System of the State of Illinois (TRS) provides retirement annuities, disability, and survivor benefits for educators employed in public schools outside of Chicago. TRS has four categories of members, including active, inactive, annuitant, and beneficiary, and as of June 30, 2021, there were 159,027 active members, 145,769 inactive members, and […]
Key Takeaway: Access to personalized retirement information through MyTRS: Oklahoma Teachers’ Retirement System (TRS) offers personalized retirement information to its members through MyTRS. Members can log in or register to view this information, which is tailored to their individual accounts. Benefit calculators and summaries of applicable laws and regulations available on the TRS member portal:
Key Takeaway: Teachers in Maine are mandatory members of the Maine Public Employee Retirement System (MainePERS), which is the largest public retirement system in the state and was established in 1942. MainePERS offers defined benefit pensions based on years of service and final salary, rather than on contributions or investment returns. There are multiple benefit
Key Takeaway: Oregon Teachers Retirement is part of the Oregon Public Employees Retirement System (PERS) available for public employees including teachers in Oregon, established in 1946. Teachers in Oregon qualify for a pension after serving 5 years, and the pension is calculated based on a formula that considers 1.5% multiplier x average highest 3 consecutive
Key Takeaways: Maintaining a current teaching license is crucial for Hawaii teachers to be eligible for retirement benefits. Retirees can only return to teaching if they have an active license. (Source: https://www.hsta.org/retirement-planning/) Teachers in Hawaii are part of the Hawaii Employees’ Retirement System (ERS), which is the largest public retirement system in the state. (Source:
Key Takeaway: Idaho Teacher Retirement benefits are calculated based on years of service and an average of the teacher’s highest 42 months of salary using a formula of 2% multiplier x average salary x years of service. The retirement system also offers disability and survivor benefits. Teachers in Idaho need to serve a 5-year vesting
Key Takeaway: Retirement eligibility for Louisiana teachers requires meeting the minimum age and years of service requirements. Retirement benefits are calculated based on years of service credit, highest average compensation, and a $300 annual supplemental benefit. The retirement benefit amount varies depending on the retirement option chosen. Academic and unclassified employees of the University are
Key Takeaways: Arizona teachers are enrolled in the Arizona State Retirement System for Teachers, which was founded in 1953, two years after teachers joined. Arizona’s teacher defined benefit (DB) pension plan is determined by a formula based on years of experience and final salary, rather than contributions made on behalf of the teacher. There are