Reply to Can I transition to teaching with a humanities phd?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]
Same as FCPS.  [b]Teachers also have a far better than usual retirement compensation.[/b]  It's a tough job, but in this area at least, it's a secure reasonable paycheck with very solid benefits and more time off than is typical of many professional jobs.[/quote]

Do we?

I'm in Maryland. Our teacher pension (for those hired after 2011) pension at Normal Service Retirement is 1.5% of your average salary (highest five years averaged) x # of years worked.

To retire at the Normal Service Retirement level you need to be 65+ 10 years service

Age+ years of service = 90.   So you can retire at age 60 with 30 years service, age 62 with 28 years service etc.

We contribute 7% of our pay to the pension each pay period.

How does that compare with other empoyers who offer a pension?

[/quote]

Well, only about 15% of American employees are still offering pensions to new hires so there isn’t much basis for comparison.  I don’t know anyplace outside or public employment that still offering things like Golden 90.  1.5% is actually not a bad multiplier — figure a 40 year career for an employee that works from 25 to 65 (and many Americans work more than that), and it gets you to 60% of your average high 3, which is definitely more than most private sectors folks who still have a DB pension are getting.  It’s not what the Boomer teachers got though, that’s for sure.  [/quote]

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