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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We don’t get a pension to whoever the “hello pension! “ person is. They take 1.5-3% out of our paycheck whether we want to or not and put it in a Virginia teacher retirement fund. It’s a forced 401k. It’s not a pension. [/quote]

This is incorrect for FCPS at least... yes, you get the VA Retirement System (Teachers version) and of course Social Security... but you also get a supplemental defined-benefit pension plan in FCPS: https://www.fcps.edu/careers/retirees/retirement-pension-plans/erfc[/quote]

DP
The previous VRS link is accurate for every school division in VA. The current VRS for those hired since Jan 2014 is a hybrid defined benefit/defined contribution plan. ERFC is solely defined benefit.[/quote]

I think the post-2014 hire plan is not something that people outside of the public ed systems understand the full implications of. With the old system, you kind of hit a point of no return where financially it makes no sense to leave the system because your retirement plan is so sweet/tied to your years of service. I looked at leaving around year 9/10 for a job that paid roughly $40k per year more, but that defined benefit plan made even that large jump a financially unwise decision because of the FCPS pension/healthcare benefits. The new system doesn’t reward that 30/33 yr in goal at all. I wonder if after all of the shitty parents/society crapping on teachers this year if we see a larger percentage  of these new teachers leave the profession than usual. [/quote]

No, they think we are somehow getting a fully funded pension after 20 years like we are in the 1950s.

Post 2014 hires, you get jack. [/quote]

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