Posted March 6, 2017 4:55 pm by Comments (3)

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Comment: As one of our commenters pointed out, these numbers are not accurate for Illinois because they do not account for “pick-ups” — local subsidies most teachers get to cover their portion of pension contributions. Thanks for being on the ball, Mike.

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3 Comments on "The State of State Teachers’ Pension Plans – The New York Times"

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It is not true that in Illinois, 80% of new teachers will never break even on the pension contributions.
In the majority of school districts in Illinois, teachers contribute little to nothing to their pension plan.
There are many nuances of Illinois Teacher pensions including pension pickups by the employer on behalf of the employee in a practice known as “Board Paid TRS” involving either “Salary Schedule Add-On” or “Salary Schedule Reduction” method.
The break even point of recouping employee contributions varies greatly from district to district.