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[quote=Anonymous][quote=Anonymous]How does it work with FCPS? I hear there are two pensions? What’s an example of how much retired folks are getting?[/quote]

Each state has its own Teacher Pension system. Some school districts run a supplementary pension system as well. You contribute more of your salary for the supplementary system and the school district kicks in a little as well.

To ask how much retired folks are getting is a little general. It totally depends on your average final salary and how many years you paid into the system. In VA I think the retirement multiplier is 1.7% and in MD it is 1.55 (for people hired after 2011.)

I've been teaching since 1999 so I have 26 years in PGCPS. Since I was hired before 2011, my multiplier is 1.8% I hope to work till I am 62 so that's be a full 30 years for 54% of my high three average. My annual salary right now is $142,000. That would bring me $76,680 annually in retirement.

But few people teach in the same state for 30 years nowadays.

If you are curious about teacher pensions in general you could read here:

https://bellwether.org/wp-content/uploads/2021/08/Teacher-Retirement-Systems-A-Ranking-of-the-States-Bellwether-Education-Partners-Final-Updated-v11.12.21.pdf

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