Based upon the latest data available from 2014-15 school year, the average teacher pension by state is listed below. You will notice that the majority of teachers never last long enough to be vested and receive a pension. Moreover, with the new teacher evaluation systems that use student test scores and punitive rubrics like Charlotte Dainelson, along with longer vesting periods, look for an even higher percentage of teachers never lasting long enough for a pension.
State.........................Pension................Vested
Alabama...................$20,700...................39%
Arizona.....................$20,500.................100%
Arkansas...................$21,100...................57%
California...................$43,300..................69%
Colorado.............. .....$37,500..................36%
Connecticut................$47,400.................55%
Delaware...................$20,500..................36%
Wash D.C...................$63,500..................29%
Florida.......................$19,800..................28%
Georgia......................$34,900..................33%
Hawaii.......................$15,000..................25%
Idaho........................$17,000..................70%
Illinois.......................$46,500..................50%
Indiana.....................$16,400..................31%
Iowa.........................$19,700..................42%
Kansas......................$12,900..................44%
Kentucky...................$34,700..................67%
Louisiana..................$23,800...................56%
Maine.......................$20,300...................14%
Maryland..................$35,000...................43%
Massachusetts..........$38,600..................12%
Michigan..................$21,300...................41%
Minnesota................$20,300...................30%
Mississippi...............$18,800...................24%
Missouri...................$41,300...................58%
Montana..................$21,200...................35%
Nebraska.................$22,600...................32%
Nevada....................$30,500..................57%
New Hampshire........$21,400..................31%
New Jersey..............$40,100..................56%
New Mexico.............$21,200..................33%
New York.................$44,400..................40%
New York City..........$45,000...................33%
North Carolina..........$18,400..................35%
North Dakota............$31,600..................56%
Ohio........................$46,600..................34%
Oklahoma................$19,800..................44%
Oregon....................$28,300..................46%
Pennsylvania...........$24,600..................36%
Rhode Island...........$45,000...................51%
South Carolina.........$19,600..................37%
South Dakota...........$18,700..................53%
Tennessee...............$18,600..................56%
Texas......................$44,600..................59%
Utah........................$16,000..................52%
Vermont..................$18,200..................33%
Virginia...................$22,000..................50%
Washington.............$20,600..................55%
West Virginia...........$19,200..................39%
Wisconsin................$22,900..................64%
Wyoming.................$17,600..................42%
Nationally only 44.5% of all teachers end up being vested for a pension and 19.7% make it to full retirement age. A more complete analysis for each state can be found Here. While 33% of Tier I to IV New York City teachers are expected to be vested for a pension. The Tier VI teachers will have a much lower vesting percentage due to more punitive job requirements that discourage long-term employment as a teacher.
Didn't the union just have a poster that stated that the average pension (for someone with 30 years) is $70,000?
ReplyDelete33% isn't that shocking because in NYC 50% of teachers don't make it to 5 years (and that was before all the tenure denials).
A lot of teachers are retiring as soon as they have 25 and 55. I've tried to talk them out of it if their TDA isn't huge, but they want out. I think that is lowering NYC Pension average, too.
Someone told me that they were at some NYC teacher thing and a large group of teachers were planning to teach until they get lifetime healthcare and then walking. (Of course they didn't know that they needed 15 years, not 10.) They will get a very small pension, too. That pulls down the average, too.
I was told by someone that it's better for the long timers for many people to do a couple of years and leave (they don't get all their money back) because it helps fund the long timers. Thought that was interesting.
Since 2014-15, new hires in Florida cannot opt for a fixed benefits pension. They must opt for an "INVESTMENT" plan such as a 401(k), thus starving the Florida Retirement System pool.
ReplyDeleteThe 33% is based upon Tier IV teachers. I suspect for Tier VI teachers it will be much less.
ReplyDeleteI'm sure you're right. However, this is based on teachers already in the system.
These figures are in stark contrast to what's being portrayed in the media and by deformers who act like we're all millionaires with 6 figure pensions. It's pitiful and getting worse.
ReplyDeleteIn NY, unless they have changed it, full pension is 37and a half years or 75% of final average salary. Depending on where you teach, you could do very well if you could last for that many years. I retired in 2002 with 32 years, but for some reason was given an extra 2%. Can't recall the reason. Anyway, since then salaries rose considerably(at least in the district I taught in). I was tier 1, they were trying to get rid of us, so my district offered a large amount of money to go the year one turned 55. Considering I was past done, I jumped on it. Now I live in Florida and substitute here. I am totally shocked at how poorly teachers are treated.
ReplyDeleteNo, max is essentially 79 percent Tier I and unlimited Tier IV.
ReplyDelete'Full' is essentially 60 percent at age 55 w/30 (Tier IV)
What's the source of this data?
ReplyDeleteTeaching in NYC is just awful. There are few 'good schools.' Most are blackboard jungles filled with urban savages who far outside the pale of Western civilization. All admins I have worked for save for one were tyrants who delighted in causing distress in their entire staffs. Sad, really.
ReplyDeleteI am one of those who plan to go until I have health benefits vested and then walking away to do something else and be more peaceful. I am tier 4 so I need to have 10 years for that. I have 9 years service credit now, so I am really close. I don't care if my pension is only $500 a month. I will work at McDonalds if I have to, or be a greeter at walmart! The crazy tyrants who masquerade as 'school leaders' are a joke and a source of hypertension in thousands, for no good reason.
Where I'm at, more than 80% of the staff are getting 1's and 2's and we all bust our buts for these 'students.' One friend said we might as well just sit and drink coffee and read the paper in class - we won't get higher than developing and ineffective anyway.
ANON 852- it doesnt matter what we do anymore. If u making a lot of money you are getting rated low and eventually will be brought up on 3020a charges.
ReplyDeleteto anonymous 5:39 pm - I also got an extra 2 percent when I retired in 2002. It was an incentive for tier one people to retire. After 35 years I didn't need an incentive!
ReplyDeleteI plan on leaving at 55 even though I will have less than 20 years in. Each year is getting worse than the last. The quality of the students is plummeting even as the stone of 'progress' on our backs gets ever heavier.
ReplyDeleteStudents are so strung out on their phones and music it is insane. Most urban kids are now in the gangsta' orbit in one way or another, and moral values have literally collapsed. How can you teach 30 students in a room when most don't speak English, most are SIFE, most aspire to become rappers, divas and drug sellers, and will tell you so, and most have no sense that cheating, lying or stealing is wrong? Danielson's and the Core cannot fix that.
To clarify what I wrote in an earlier post - I received an incentive of two years pension credit when I retired - not two percent as I had written.
ReplyDeleteThere were always rumors of incentives and they did happen from time to time but I think those days are gone forever.