Reply to What do you think a MCPS makes a year?

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[quote=Anonymous][quote=Anonymous]

Maryland's teacher's pensions is one of the lowest in the country.  A Maryland teacher pays 7% of her slary a year towards the pension benefit and then after 30 years of service is entitled to 45% of an average of her last few years salary.  That is assuming the state does not continue to raise her contributions or change the formuals.  I would rather they let her invest that 7% in a 401K, because I don't think the pension will be there when she needs it,[/quote]

I'm curious, do Maryland teachers also pay in to Social Security?  Many of these state and local government plans are outside Social Security, which means that a teacher will just get the state pension (if it's still there), and not the additional retirement income from Social Security.  Well, some will get Social Security as spouses, but the Social Security benefit is reduced a lot if that happens.

Also, I heard that MD is trying to shift teacher pensions from the state to the counties, so MCPS would assume the MCPS teacher pensions. Not sure if that's true, but it probably wouldn't be good news for teachers.[/quote]

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