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Reply to "Question for teachers.....Purchasing prior service credit towards your pension"
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[quote=Anonymous][quote] If you’ve taught past 20 years in md you are not eligible for step increases, just COLA but pensions in md give you cola anyways. I can’t imagine a former teacher having issues in their 80s with a full pension, social security, and possible 403b unless they have really been bad with money. Maryland is a terrible place to retire.[/quote] COLA in Virginia is capped at 3%. When inflation is running at 8% (like it was during COVID), your pension is being devalued quickly. Social Security is not a huge sum for someone who was on a teaching salary. And a 403b is not usually large for people who were on teaching salaries. [/quote]
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