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Pension Plan Information
Retired Colorado teacher Karl Fisch is on his way to publishing a teacher pension book about each state, and he has kindly shared his database of pension data with us.
While this is in no way an exhaustive analysis of each state plan, it should provide users the broad strokes. Karl is often asked "So, who has the best pension?" His wise answer: "It depends." As he notes, most pensions are strikingly similar, but as he likes to say "the details matter." You are encouraged to use this database to get the basics of each plan, and then follow up on the plan website for additional information.
Select State for Pension Plan Information
Alabama TRS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Alabama is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Alabama teachers also pay into Social Security
Administrative Fee for Supplemental Plans
$0 and minimal % for 457
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 6.2%; Employer: 12.6%
Multiplier
1.65%
Average Salary
Highest 5 years of last 10
Normal Retirement
Age 62 with 10 years of service
Cost-of-Living Adjustment (COLA)
Determined yearly by State Legislature but rare
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 7.5%; Employer: 13.57%
Multiplier
2.0125%
Average Salary
Highest 3 years of last 10
Normal Retirement
Any age with 25 years of service
Age 60+ with 10 years of service
Cost-of-Living Adjustment (COLA)
Determined yearly by State Legislature but rare
Alaska TRS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Alaska is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Alaska teachers do not pay into Social Security
Administrative Fee for Supplemental Plans
0.11% + $35 for 457
New Teachers Hired On or After 1/1/2024
Defined Contribution
Employee: 8%; Employer: 7%
Multiplier
N/A
Average Salary
N/A
Normal Retirement
5 years for full vesting
Cost-of-Living Adjustment (COLA)
N/A
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 8.65%; Employer: 12.56%
Multiplier
2% for less than 20 years of service
2.5% for greater than 20 years of service
Average Salary
Highest 3 years
Normal Retirement
Any age with 20 years of service
Age 60 with 8 years of service
Cost-of-Living Adjustment (COLA)
50%/75% CPI
Arizona ASRS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Arizona is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Arizona teachers also pay into Social Security
Administrative Fee for Supplemental Plans
0.06% for 401a and 457
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 12.27%; Employer: 12.27%
Multiplier
2.1% for less than 20 years of service
2.15% for 20 to 25 years of service
2.2% for 25 to 30 years of service
2.3% for greater than 30 years of service
Average Salary
Highest 60 months
Normal Retirement
Age 55 with 30 years of service
Age 60 with 25 years of service
Age 62 with 10 years of service
Cost-of-Living Adjustment (COLA)
None
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 12.27%; Employer: 12.27%
Multiplier
2.1% for less than 20 years of service
2.15% for 20 to 25 years of service
2.2% for 25 to 30 years of service
2.3% for greater than 30 years of service
Average Salary
Average salary highest 36 months
Normal Retirement
Rule of 80 (age plus years of service is greater than or equal to 80)
Age 62 with 10 years of service
Cost-of-Living Adjustment (COLA)
None
Arkansas ARTRS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Arkansas is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Arkansas teachers also pay into Social Security
Administrative Fee for Supplemental Plans
None
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 7%; Employer: 15%
Multiplier
2.15%
Average Salary
Highest 3 years
Normal Retirement
Age 60 with 5 years of service
Any age with 28 years of service
Cost-of-Living Adjustment (COLA)
3% not compounded
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 7%; Employer: 15%
Multiplier
2.15%
Average Salary
Highest 3 years
Normal Retirement
Age 60 with 5 years of service
Any age with 28 years of service
Cost-of-Living Adjustment (COLA)
3% not compounded
California CalSTRS
More information about this plan is available directly from the pension website, and Karl Fisch's book for California is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
California teachers do not pay into Social Security
Administrative Fee for Supplemental Plans
0.25% for 403b and 457
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 10.205%; Employer: 19.1%
Multiplier
2% at age 62
1.16% to 2.4% depending on age
Average Salary
Highest 36 months
Normal Retirement
Age 55 with 5 years of service
Cost-of-Living Adjustment (COLA)
2% of base not compounded
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 10.25%; Employer: 19.1%
Multiplier
2% at age 60
1.1% to 2.4% depending on age and years of service
Average Salary
Highest 36 months or 12 months if more than 25 years of service
Normal Retirement
Age 50 with 30 years of service
Age 55 with 5 years of service
Cost-of-Living Adjustment (COLA)
2% of base not compounded
Colorado PERA
More information about this plan is available directly from the pension website, and Karl Fisch's book for Colorado is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Colorado teachers do not pay into Social Security
Administrative Fee for Supplemental Plans
0.03% + $12 per year for 401k and 457
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 11%; Employer: 21.4; State: $225 million annually
Multiplier
2.5%
Average Salary
Highest 5 consecutive 12 months
Normal Retirement
Age 50 with 35 years of service
Age 60 with 30 years of service
Age 65 with 5 years of service
Cost-of-Living Adjustment (COLA)
3 year waiting period
Veteran Teachers Hired Prior to 1/1/2001
There are 6 additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition dates between these tiers are not relevant to this comparison.
Defined Benefit
Employee: 11%; Employer: 21.4%; State: $225 million annually
Multiplier
2.5%
Average Salary
Highest 3 consecutive 12 months
Normal Retirement
Age 50 with 30 years of service
Age 60 with 20 years of service
Age 65 with 5 years of service
Cost-of-Living Adjustment (COLA)
3 year waiting period
Connecticut CTRB
More information about this plan is available directly from the pension website, and Karl Fisch's book for Connecticut is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Connecticut teachers do not pay into Social Security
Administrative Fee for Supplemental Plans
0.0285% for 457
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 8.25%; Employer: 31.79%
Multiplier
2.0%
Average Salary
Highest 3 years
Normal Retirement
Any age with 35 years of service
Age 60 with 20 years of service
Cost-of-Living Adjustment (COLA)
1% – 5% SS COLA/investment return
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 8.25%; Employer: 31.79%
Multiplier
2.0%
Average Salary
Highest 3 years
Normal Retirement
Any age with 35 years of service
Age 60 with 20 years of service
Cost-of-Living Adjustment (COLA)
1.5% – 6% SS COLA/investment return
Information for this state pension plan is not yet available.
District of Columbia DCRB
More information about this plan is available directly from the pension website, and Karl Fisch's book for District of Columbia is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
District of Columbia teachers do not pay into Social Security
Administrative Fee for Supplemental Plans
0.02% – 0.22% for 457
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 8%; Employer: 7.03%
Multiplier
2.0%
Average Salary
Highest 36 months
Normal Retirement
Any age with 35 years of service
Age 60 with 20 years of service
Age 62
Cost-of-Living Adjustment (COLA)
CPI 3% cap
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 8%; Employer: 7.03%
Multiplier
2.0%
Average Salary
Highest 36 months
Normal Retirement
Any age with 35 years of service
Age 60 with 20 years of service
Age 62
Cost-of-Living Adjustment (COLA)
CPI 3% cap
Florida FRS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Florida is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Florida teachers also pay into Social Security
Administrative Fee for Supplemental Plans
None other than the defined contribution option
New Teachers Hired On or After 1/1/2024
Choice of Defined Benefit or Defined Contribution
Employee: 3%; Employer: defined benefit 13.57% or defined contribution 8.3%
Multiplier
Defined benefit1.6 to 1.68%
Average Salary
Highest 8 years
Normal Retirement
Defined benefitAny age with 33 years of service
Age 65 with 8 years of serviceDefined contributionAny age with 33 years of service
Age 65 with 1 year of service
Cost-of-Living Adjustment (COLA)
None
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Choice of Defined Benefit or Defined Contribution
Employee: 3%; Employer: defined benefit 13.57% or defined contribution 8.3%
Multiplier
Defined benefit1.6 to 1.68%
Average Salary
Highest 5 years
Normal Retirement
Defined benefitAny age with 36 years of service
Age 62 with 6 years of serviceDefined contributionAny age with 30 years of service
Age 62 with 1 year of service
Cost-of-Living Adjustment (COLA)
Up to 3% based on years prior to 1/1/2011
Georgia TRS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Georgia is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Georgia teachers in some districts pay into Social Security
Administrative Fee for Supplemental Plans
None
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 6%; Employer: 19.98%
Multiplier
2.0%
Average Salary
Highest 2 years
Normal Retirement
Any age with 30 years of service
Age 60 with 10 years of service
Cost-of-Living Adjustment (COLA)
Usually 1.5%
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 6%; Employer: 19.98%
Multiplier
2.0%
Average Salary
Highest 2 years
Normal Retirement
Any age with 30 years of service
Age 60 with 10 years of service
Cost-of-Living Adjustment (COLA)
Usually 1.5%
Information for this state pension plan is not yet available.
Idaho PERSI
More information about this plan is available directly from the pension website, and Karl Fisch's book for Idaho is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Idaho teachers also pay into Social Security
Administrative Fee for Supplemental Plans
0% to 0.85% for 401k
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 8.08%; Employer: 13.48%
Multiplier
2.0%
Average Salary
Highest 42 months
Normal Retirement
Rule of 90 (age plus years of service is greater than or equal to 90)
or 65 years old
Cost-of-Living Adjustment (COLA)
Average has been 1.87%
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 8.08%; Employer: 13.48%
Multiplier
2.0%
Average Salary
Highest 42 months
Normal Retirement
Rule of 90 (age plus years of service is greater than or equal to 90)
or 65 years old
Cost-of-Living Adjustment (COLA)
Average has been 1.87%
Illinois TRS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Illinoid is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Illinoid teachers do not pay into Social Security
Administrative Fee for Supplemental Plans
$100 per year for 457
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 9% (often picked up by the employer); Employer: 0.58%; State: dollar amount
Multiplier
2.2% post 1/1/1998
Average Salary
Highest 8 of last 10 years
Normal Retirement
Age 67 with 10 years of service
Cost-of-Living Adjustment (COLA)
At age 67, lower of 1/2 CPI or 3% not compounded
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 9% (often picked up by the employer); Employer: 0.58%; State: annual appropriation
Multiplier
2.2% post 1/1/1998
Average Salary
Highest 4 of last 10 years
Normal Retirement
Any age with 35 years of service
Age 60 with 10 years of service
Age 62 with 5 years of service
Cost-of-Living Adjustment (COLA)
3% beginning at age 61
Indiana INPRS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Indiana is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Indiana teachers also pay into Social Security
Administrative Fee for Supplemental Plans
$54 per year for 457
New Teachers Hired On or After 1/1/2024
Defined Contribution
Employee: 3% often paid by employer and goes into defined contribution; Employer: 6.5%
Multiplier
n/a
Average Salary
n/a
Normal Retirement
5 year vesting for employer portion
Cost-of-Living Adjustment (COLA)
n/a
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Hybrid
Employee: 3% often paid by employer and goes into defined contribution; Employer: 6.5%
Multiplier
1.1% for defined benefit
Average Salary
Highest 5 years
Normal Retirement
Age 55 with 30 years of service
Age 60 with 15 years of service
Age 65 with 10 years of service
Cost-of-Living Adjustment (COLA)
Determined yearly by legislature
Iowa IPERS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Iowa is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Iowa teachers also pay into Social Security
Administrative Fee for Supplemental Plans
None
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 6.29%; Employer: 9.44%
Multiplier
2% for first 30 years and 1% for years 31 to 35
Average Salary
Highest 5 years
Normal Retirement
Rule of 88 (age plus years of service is greater than or equal to 88)
Age 62 with 20 years of service
Age 65 with 7 years of service
Cost-of-Living Adjustment (COLA)
None
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 6.29%; Employer: 9.44%
Multiplier
2% for first 30 years and 1% for years 31 to 35
Average Salary
Highest 5 years
Normal Retirement
Rule of 88 (age plus years of service is greater than or equal to 88)
Age 62 with 20 years of service
Age 65 with 4 years of service
Cost-of-Living Adjustment (COLA)
None
Kansas KPERS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Kansas is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Kansas teachers also pay into Social Security
Administrative Fee for Supplemental Plans
0.148% for 457
New Teachers Hired On or After 1/1/2024
Defined Contribution
Employee: 6%; Employer: 3 to 6% depending on experience
Multiplier
n/a
Average Salary
n/a
Normal Retirement
Age 60 and 30 years of service
Age 65 and 5 years of service
Cost-of-Living Adjustment (COLA)
n/a
Veteran Teachers Hired Prior to 1/1/2001
There is one additional benefit tier between the new teacher and veteran teacher tiers compared here. The exact transition dates between these tiers are not relevant to this comparison.
Defined Benefit
Employee: 6%; Employer: 12.42%
Multiplier
1.75% prior to January 1, 2014
1.85% on or after January 1, 2014
Average Salary
Highest 3 years
Normal Retirement
Rule of 85 (age plus years of service is greater than or equal to 85)
Age 62 with 10 years of service
Age 65 and 1 year of service
Cost-of-Living Adjustment (COLA)
None
Kentucky TRS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Kentucky is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Kentucky teachers do not pay into Social Security
Administrative Fee for Supplemental Plans
For 401k/457/IRA, $12 per year plus 0.32% of first $25k, 0.26% of next $25k, 0.13% of next $50k, 0.06% of next $25k, and 0% above $125k
New Teachers Hired On or After 1/1/2024
Hybrid
Employee: 14.75%; Employer: 13.75%; 2% employee and employer to supplemental 403b
Multiplier
1.7% to 2.4% depending on age and years of service
Average Salary
Highest 5 years
Normal Retirement
Age 57 with 30 years of service
Age 60 with 10 years of service
Age 65 with 5 years of service
Cost-of-Living Adjustment (COLA)
1.5%
Veteran Teachers Hired Prior to 1/1/2001
There are 2 additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition dates between these tiers are not relevant to this comparison.
Defined Benefit
Employee: 12.855%; Employer: 16.105%
Multiplier
2.5%
Average Salary
Highest 5 years or highest 3 years if over age 55 with 27 years of service
Normal Retirement
Any age with 27 years of service
Age 60 with 5 years of service
Cost-of-Living Adjustment (COLA)
1.5%
Louisiana TRSL
More information about this plan is available directly from the pension website, and Karl Fisch's book for Louisiana is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Louisiana teachers do not pay into Social Security
Administrative Fee for Supplemental Plans
For 457, $10 per year on first $5k, 0.20% on next $5k-$50k, and 0% on greater than $50k
New Teachers Hired On or After 1/1/2024
No selection made
Employee: 8%; Employer: 20.95%
Multiplier
2.5%
Average Salary
Highest 5 consecutive years
Normal Retirement
Age 62 with 5 years of service
Cost-of-Living Adjustment (COLA)
Determined yearly by state legislature, but not often
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 8%; Employer: 20.95%
Multiplier
2.5% for most (2.0% for some)
Average Salary
Highest 3 consecutive years
Normal Retirement
Any age with 30 years of service
Age 55 with 25 years of service
Age 60 with 5 years of service
Cost-of-Living Adjustment (COLA)
Determined yearly by state legislature, but not often
MainePERS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Maine is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Maine teachers do not pay into Social Security
Administrative Fee for Supplemental Plans
$50 per year + 0.03% for 457 for some
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 7.65%; Employer: 18.98%
Multiplier
2%
Average Salary
Highest 3 years
Normal Retirement
Age 65 with 1 year of service
Cost-of-Living Adjustment (COLA)
CPI on first $26,428 of benefit indexed to inflation
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 7.65%; Employer: 18.98%
Multiplier
2%
Average Salary
Highest 3 years
Normal Retirement
Age 62 with 5 years of service or age 65 with 1 year of service
Cost-of-Living Adjustment (COLA)
CPI on first $26,428 of benefit indexed to inflation
Maryland SRPS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Maryland is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Maryland teachers also pay into Social Security
Administrative Fee for Supplemental Plans
None
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 7%; Employer: 4.96%; State: 11.29%
Multiplier
1.5%
Average Salary
Highest 5 years
Normal Retirement
Rule of 90 (age plus years of service is greater than or equal to 90)
Age 65 with 10 years of service
Cost-of-Living Adjustment (COLA)
CPI and investment returns 2.5% cap
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 7%; Employer: 4.96%; State: 11.29%
Multiplier
1.2% for years prior to 6/30/98
1.8% for years after 6/30/98
Average Salary
Highest 3 years
Normal Retirement
Any age with 30 years of service
Age 62 with 5 years of service
Age 63 with 4 years of service
Age 64 with 3 years of service
Age 65 with 2 years of service
Cost-of-Living Adjustment (COLA)
CPI 3% cap on portion earned prior to 6/30/11
2.5% cap on portion earned after 6/30/11 and investment return input
Massachusetts MTRS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Massachusetts is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Massachusetts teachers do not pay into Social Security
Administrative Fee for Supplemental Plans
$10 per year + 0.0775% on 457 for some
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 11%; State: annual appropriation
Multiplier
Age factor 1.45% to 2.5%
Average Salary
Highest 5 consecutive years
Normal Retirement
Age 60 with 10 years of service
Cost-of-Living Adjustment (COLA)
CPI up to 3% on first $13,000 of benefit
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 8 to 11%; State: annual appropriation
Multiplier
Age factor 0.1% to 2.5%
Average Salary
Highest 3 consecutive years
Normal Retirement
Any age with 20 years of service
Age 55 with 10 years of service
Cost-of-Living Adjustment (COLA)
CPI up to 3% on first $13,000 of benefit
Michigan MPSERS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Michigan is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Michigan teachers also pay into Social Security
Administrative Fee for Supplemental Plans
$38 per year for 457 and defined contribution 401k
New Teachers Hired On or After 1/1/2024
Choice of Hybrid Defined Benefit or Defined Contribution
Employee: 6.2% for defined benefit and 5% for defined contribution
Employer: varies for defined benefit and 9% for defined contribution
Multiplier
1.5% for defined benefit
Average Salary
Highest 60 consecutive months for defined benefit
Normal Retirement
Age 60 with 10 years of service for defined benefit
Cost-of-Living Adjustment (COLA)
None
Veteran Teachers Hired Prior to 1/1/2001
There are 8+ additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition dates between these tiers are not relevant to this comparison.
Choice of Defined Benefit or Defined Contribution
Employee: 3 to 7%; Employer: 20.96 to 31.36%
Multiplier
1.25% to 1.5%
Average Salary
Highest consecutive 36 months
Normal Retirement
Varies by plan
Cost-of-Living Adjustment (COLA)
Varies by plan
Minnesota TRA
More information about this plan is available directly from the pension website, and Karl Fisch's book for Minnesota is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Minnesota teachers also pay into Social Security
Administrative Fee for Supplemental Plans
0.1% for 457, capped at $125
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 8%; Employer: 9.5%
Multiplier
1.9%
Average Salary
Highest 5 consecutive years
Normal Retirement
Age 65 with 3 service years
Cost-of-Living Adjustment (COLA)
2.5%
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 8%; Employer: 9.5%
Multiplier
1.7% prior to 6/30/13
1.9% on or after 7/1/13
Average Salary
Highest 5 consecutive years
Normal Retirement
Age 65 with 3 service years
Cost-of-Living Adjustment (COLA)
2.5%
St. Paul SPTRFA
More information about this plan is available directly from the pension website, and Karl Fisch's book for Saint Paul, Minnesota is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Saint Paul, Minnesota teachers also pay into Social Security
Administrative Fee for Supplemental Plans
$24 per year for 403(b)
0.10% capped at $125 per year for 457
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 9%; Employer: 9.75%
Multiplier
1.7% for years prior to 6/30/06
1.9% for years after 6/30/06
Average Salary
Highest 5 years
Normal Retirement
Age 62 with 30 years of service
Age 65 with 3 years of service
Cost-of-Living Adjustment (COLA)
1.2%; increasing to 1.5% in 2028
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 9%; Employer: 9.75%
Multiplier
1.7% for years prior to 6/30/06
1.9% for years after 6/30/06
Average Salary
Highest 5 years
Normal Retirement
Age 62 with 30 years of service
Age 65 with 3 years of service
Cost-of-Living Adjustment (COLA)
1.2%; increasing to 1.5% in 2028
Information for this state pension plan is not yet available.
Missouri PSRS-PEERS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Missouri is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Missouri teachers do not pay into Social Security
Administrative Fee for Supplemental Plans
None
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 14.5%; Employer: 14.5%
Multiplier
2.5% or 2.55% if over 32 years of service
Average Salary
Highest 3 years
Normal Retirement
Any age with 30 years of service
Rule of 80 (age plus years of service is greater than or equal to 80)
Age 60 with 5 years of service
Cost-of-Living Adjustment (COLA)
CPI based on various factors 0% to 5%
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 14.5%; Employer: 14.5%
Multiplier
2.5% or 2.55% if over 32 years of service
Average Salary
Highest 3 years
Normal Retirement
Any age with 30 years of service
Rule of 80 (age plus years of service is greater than or equal to 80)
Age 60 with 5 years of service
Cost-of-Living Adjustment (COLA)
CPI based on various factors 0% to 5%
Information for this state pension plan is not yet available.
Nebraska NPERS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Nebraska is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Nebraska teachers also pay into Social Security
Administrative Fee for Supplemental Plans
None
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 9.78%; Employer: 9.88%; State: 2%
Multiplier
2%
Average Salary
Highest five 12-month periods
Normal Retirement
Rule of 85 if age 60+ (age plus years of service is greater than or equal to 85)
Age 65 with 5 years of service
Cost-of-Living Adjustment (COLA)
CPI with 2.5% cap
Veteran Teachers Hired Prior to 1/1/2001
There are 2 additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition dates between these tiers are not relevant to this comparison.
Defined Benefit
Employee: 9.78%; Employer: 9.88%; State: 2%
Multiplier
2%
Average Salary
Highest three 12-month periods
Normal Retirement
Rule of 85 if age 55+ (age plus years of service is greater than or equal to 85)
Age 65 with 5 years of service
Cost-of-Living Adjustment (COLA)
CPI with 2.5% cap
Nevada NVPERS
More information about this plan is available directly from the pension website. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Nevada teachers do not pay into Social Security
Administrative Fee for Supplemental Plans
None
New Teachers Hired On or After 1/1/2024
No selection made
Employee: 16.75%; Employer: 16.75%
Multiplier
2.25%
Average Salary
Highest 36 consecutive months
Normal Retirement
Age 65 with 6 years of service
Age 62 with 10 years of service
Age 55 with 30 years of service
Any age with 33-1/3 years of service
Cost-of-Living Adjustment (COLA)
Not compounded
2% for years 4 through 6
3% for years 7 through 9
3.5% for years 10 through 12
4% for years 13 and 14
5% for years 15 and beyond
Veteran Teachers Hired Prior to 1/1/2001
There is one additional benefit tier between the new teacher and veteran teacher tiers compared here. The exact transition dates between these tiers are not relevant to this comparison.
Defined Benefit
Employee: 16.75%; Employer: 16.75%
Multiplier
2.5% for years prior to 7/1/01
2.67% for years on or after 7/1/01
Max 75%
Average Salary
Highest 36 consecutive months
Normal Retirement
Age 65 with 6 years of service
Age 60 with 10 years of service
Any age with 30 years of service
Cost-of-Living Adjustment (COLA)
Not compounded
2% for years 4 through 6
3% for years 7 through 9
3.5% for years 10 through 12
4% for years 13 and 14
5% for years 15 and beyond
New Hampshire NHRS
More information about this plan is available directly from the pension website, and Karl Fisch's book for New Hampshire is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
New Hampshire teachers also pay into Social Security
Administrative Fee for Supplemental Plans
None
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 7%; Employer: 19.64%
Multiplier
AFC/66
Average Salary
Highest 5 years
Normal Retirement
Age 65
Cost-of-Living Adjustment (COLA)
Determined yearly by legislature
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 7%; Employer: 19.64%
Multiplier
Age 60-64: AFC/60
Age 65 or older: AFC/66
Average Salary
Highest 3 years
Normal Retirement
Age 60
Cost-of-Living Adjustment (COLA)
Determined yearly by legislature
New Jersey TPAF
More information about this plan is available directly from the pension website, and Karl Fisch's book for New Jersey is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
New Jersey teachers also pay into Social Security
Administrative Fee for Supplemental Plans
None
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 7.5%; Employer: 34.64%
Multiplier
FAS/60
Average Salary
Highest 60 consecutive months
Normal Retirement
Age 65
Cost-of-Living Adjustment (COLA)
None
Veteran Teachers Hired Prior to 1/1/2001
There are 3 additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition dates between these tiers are not relevant to this comparison.
Defined Benefit
Employee: 7.5%; Employer: 34.64%
Multiplier
FAS/55
Average Salary
Highest 36 consecutive months
Normal Retirement
Age 60
Cost-of-Living Adjustment (COLA)
None
Information for this state pension plan is not yet available.
New York City
More information about this plan is available directly from the pension website, and Karl Fisch's book for New York City is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
New York City teachers also pay into Social Security
Administrative Fee for Supplemental Plans
0.18% for 403b
$80 per year + 0.04% for 457
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee
3% for less than $45k
3.5% for $45k–$55k
4.5% for $55k–$75k,
5.75% for $75k–$100k
6% for more than $100k
Employer
10.11%
Multiplier
1-2/3% for less than 20 years
35% + 1% for greater than 20 years
Average Salary
Highest 5 consecutive years
Normal Retirement
Age 63 with 5 years of service
Cost-of-Living Adjustment (COLA)
1/2 of CPI
Min 1%, max 3%
Only on first $18,000
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee
3% first 10 years only
Age 55 Retirement Program contribute for more years
Employer
10.11%
Multiplier
1-2/3% for less than 20 years
2% for 20 to 29 years
60% + 1.5% for greater than 30 years
Average Salary
Highest 3 consecutive years
Normal Retirement
Age 55 with 30 years of service
Age 62 with 5 years of service
Age 55 Retirement Program
Age 55 with 25 years of service (if opted in to program)
Age 55 with 27 years of service for some teachers who began membership between 2/27/2008 and 4/1/2012
Cost-of-Living Adjustment (COLA)
1/2 of CPI
Min 1%, max 3%
Only on first $18,000
New York State NYSTRS
More information about this plan is available directly from the pension website, and Karl Fisch's book for New York State is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
New York State teachers also pay into Social Security
Administrative Fee for Supplemental Plans
$20 + 0.03% for 457 for some
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee3% for less than $45k
3.5% for $45k–$55k
4.5% for $55k–$75k
5.75% for $75k–$100k
6% for more than $100kEmployer10.11%
Multiplier
1-2/3% for less than 20 years
1.75% for 20 years
35% + 2% for greater than 20 years
Average Salary
Highest 3 consecutive years
Normal Retirement
Any age with 30 years of service
Age 60 with 25 years of service
Age 65 with 5 years of service
Cost-of-Living Adjustment (COLA)
Determined yearly by General Assembly
Veteran Teachers Hired Prior to 1/1/2001
There is one additional benefit tier between the new teacher and veteran teacher tiers compared here. The exact transition dates between these tiers are not relevant to this comparison.
Defined Benefit
Employee: 3% (first 10 years only); Employer: 10.11%
Multiplier
1.82%
Average Salary
Highest 48 consecutive months
Normal Retirement
Any age with 30 years of service
Age 60 with 25 years of service
Age 65 with 5 years of service
Cost-of-Living Adjustment (COLA)
Determined yearly by General Assembly
North Carolina TSERS
More information about this plan is available directly from the pension website, and Karl Fisch's book for North Carolina is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
North Carolina teachers also pay into Social Security
Administrative Fee for Supplemental Plans
401k and 457 for some, $25 per year + 0.01%
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 6%; Employer: 24.04%
Multiplier
1.82%
Average Salary
Highest 48 consecutive months
Normal Retirement
Any age with 30 years of service
Age 60 with 25 years of service
Age 65 with 5 years of service
Cost-of-Living Adjustment (COLA)
Determined yearly by General Assembly
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 6%; Employer: 24.04%
Multiplier
1.82%
Average Salary
Highest 48 consecutive months
Normal Retirement
Any age with 30 years of service
Age 60 with 25 years of service
Age 65 with 5 years of service
Cost-of-Living Adjustment (COLA)
Determined yearly by General Assembly
Information for this state pension plan is not yet available.
Ohio STRS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Ohio is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Ohio teachers do not pay into Social Security
Administrative Fee for Supplemental Plans
0.14% for 457
New Teachers Hired On or After 1/1/2024
Choice of Defined Benefit, Defined Contribution, or Hybrid
Employee
14%
Hybrid plan: 12% into defined contribution
Employer
14%
Defined contribution plan: 9.53% into defined contribution
Hybrid plan: 14% into defined contribution
Multiplier
2.2% for defined benefit
1% for hybrid plan
Average Salary
Highest 5 years
Normal Retirement
Age 60 or later
Cost-of-Living Adjustment (COLA)
Defined benefit5-year delay
Determined yearly by legislature
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Choice of Defined Benefit, Defined Contribution, or Hybrid
Employee
14%
Hybrid plan: 12% into defined contribution
Employer
14%
Defined contribution plan: 9.53% into defined contribution
Hybrid plan: 14% into defined contribution
Multiplier
2.2% for defined benefit
1% for hybrid plan
Average Salary
Highest 5 years
Normal Retirement
Defined benefitAny age with 35 years of service
Age 65 with 5 years of serviceHybrid planAge 60 or later
Cost-of-Living Adjustment (COLA)
Defined benefit5-year delay
Determined yearly by legislature
Oklahoma TRS
More information about this plan is available directly from the pension website. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Oklahoma teachers also pay into Social Security
Administrative Fee for Supplemental Plans
None
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 7%; employer: 9.5%
Multiplier
2%
Average Salary
Highest 5 consecutive years
Normal Retirement
Age 66
And 60 and combination 90 (age plus years of service is greater than or equal to 90)
Cost-of-Living Adjustment (COLA)
Determined annually by state legislature
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 7%; employer: 9.5%
Multiplier
2%
Average Salary
Highest 5 consecutive years
Normal Retirement
Membership prior to 7/1/92Age 62
Combination 80 (age plus years of service is greater than or equal to 80)
Membership prior to 11/1/11Age 62
Combination 90 (age plus years of service is greater than or equal to 90)
Cost-of-Living Adjustment (COLA)
Determined annually by state legislature
Oregon PERS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Oregon is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Oregon teachers also pay into Social Security
Administrative Fee for Supplemental Plans
0.12% for 457 for some
New Teachers Hired On or After 1/1/2024
Hybrid
Employee: 6%, up to 6% goes into defined contribution; Employer: varies by district
Multiplier
1.5%
Average Salary
Highest 3 years
Normal Retirement
Age 58 with 30 years of service
Age 65
Cost-of-Living Adjustment (COLA)
2% service prior to 10/1/13; CPI up to max of 1.25% on first $60k and 0.15% over $60k on service after 10/1/13
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Hybrid
Employee: 6%, up to 6% goes into defined contribution; Employer: varies by district
Multiplier
1.67%
Average Salary
Highest 3 years
Normal Retirement
Any age with 30 years of service
Age 60
Cost-of-Living Adjustment (COLA)
2% service prior to 10/1/13; CPI up to max of 1.25% on first $60k and 0.15% over $60k on service after 10/1/13
Pennsylvania PSERS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Pennsylvania is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Pennsylvania teachers also pay into Social Security
Administrative Fee for Supplemental Plans
None other than defined contribution
New Teachers Hired On or After 1/1/2024
Choice of Hybrid or Defined Contribution
Employee
Class TG 9%; 2.75% into defined contribution
Class TH 8.25%; 3% into defined contribution
Defined contribution 7.5%
Employer
34.94%
Class TH: 2% into defined contribution
Class TG: 2.25% into defined contribution
Multiplier
Class TG: 1.25%; Class TH: 1%
Average Salary
Highest 3 years
Normal Retirement
Class TG
Rule of 97 with 35 years of service (age plus years of service is greater than or equal to 97)
Age 67 with 3 years of service
Class TH
Age 67 with 3 years of service
Cost-of-Living Adjustment (COLA)
None
Veteran Teachers Hired Prior to 1/1/2001
There are 2 additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition dates between these tiers are not relevant to this comparison.
Defined Benefit
Employee: Class TC 6.25%, Class TD 7.5%; Employer: 34.94%
Multiplier
Class TC 2%; Class TD 2.5%
Average Salary
Highest 3 years
Normal Retirement
Any age with 35 years of service
Age 60 with 30 years of service
Age 62 with 1 year of service
Cost-of-Living Adjustment (COLA)
None
Information for this state pension plan is not yet available.
South Carolina PEBA
More information about this plan is available directly from the pension website, and Karl Fisch's book for South Carolina is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
South Carolina teachers also pay into Social Security
Administrative Fee for Supplemental Plans
$1 per year plus 0.065% for 401k and 457
New Teachers Hired On or After 1/1/2024
Choice of Defined Benefit or Defined Contribution
Employee: 9%; Employer: defined benefit 24.91%, defined contribution 5%
Multiplier
1.82%
Average Salary
Highest 20 consecutive quarters
Normal Retirement
Rule of 90 with 8 years of service (age plus years of service is greater than or equal to 90)
Age 65 with 8 years of service
Cost-of-Living Adjustment (COLA)
1%; max of $500 per year
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 9%; Employer: 24.91%
Multiplier
1.82%
Average Salary
Highest 12 consecutive quarters
Normal Retirement
Any age with 28 years of service
Age 65 with 5 years of service
Cost-of-Living Adjustment (COLA)
1%; max of $500 per year
Information for this state pension plan is not yet available.
Tennessee TCRS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Tennessee is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Tennessee teachers also pay into Social Security
Administrative Fee for Supplemental Plans
0.149% for 401(k) and 457
New Teachers Hired On or After 1/1/2024
Hybrid
Employee
5% defined benefit
2% defined contribution
Employer
4% defined benefit
5% defined contribution
Multiplier
1% defined benefit
Average Salary
Highest 60 consecutive months
Normal Retirement
Rule of 90 (age plus years of service is greater than or equal to 90)
Age 65 with 5 years of service
Cost-of-Living Adjustment (COLA)
1%, max of $500 per year
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 5%; Employer: 6.36%
Multiplier
1.5% (plus 1.05 improvement factor)
Average Salary
Highest 60 consecutive months
Normal Retirement
Any age with 30 years of service
Age 60 with 5 years of service
Cost-of-Living Adjustment (COLA)
CPI, 1 to 3% range
Texas TRS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Texas is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Texas teachers do not pay into Social Security
Administrative Fee for Supplemental Plans
None
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 8.25%; Employer: 2%; State: 8.25%
Multiplier
2.3%
Average Salary
Highest 5 years
Normal Retirement
Rule of 80 (age plus years of service is greater than or equal to 80)
Age 62 with 5 years of service
Age 65 with 5 years of service
Cost-of-Living Adjustment (COLA)
None
Veteran Teachers Hired Prior to 1/1/2001
There are 2 additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition dates between these tiers are not relevant to this comparison.
Defined Benefit
Employee: 8.25%; Employer: 2%; State: 8.25%
Multiplier
2.3%
Average Salary
Highest 5 years
Normal Retirement
Rule of 80 with 5 years of service (age plus years of service is greater than or equal to 80)
Age 65 with 5 years of service
Cost-of-Living Adjustment (COLA)
None
Utah URS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Utah is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Utah teachers also pay into Social Security
Administrative Fee for Supplemental Plans
0.10% for 401(k), 457, and IRA for some
New Teachers Hired On or After 1/1/2024
Choice of Hybrid or Defined Contribution
Employee: 0.7%; Employer: 10%
Multiplier
1.5% defined benefit
Average Salary
Highest 5 years
Normal Retirement
Any age with 35 years of service
Age 65 with 4 years of service
Defined contribution vesting: 4 years
Cost-of-Living Adjustment (COLA)
SPI, capped at 2%, not compounded
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 0%; Employer: 21.69%
Multiplier
2%
Average Salary
Highest 3 years
Normal Retirement
Any age with 30 years of service
Age 65 with 4 years of service
Cost-of-Living Adjustment (COLA)
SPI, capped at 4%, not compounded
Information for this state pension plan is not yet available.
Virginia VRS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Virginia is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Virginia teachers also pay into Social Security
Administrative Fee for Supplemental Plans
$30.50 per year for 457 for some
New Teachers Hired On or After 1/1/2024
Hybrid
Employee
Defined benefit 4%
Defined contribution 1%
Employer
Defined benefit 15.42%
Defined contribution 1%
Up to 2.5% defined contribution match
Multiplier
1%
Average Salary
Highest 60 consecutive months
Normal Retirement
Rule of 90 (age plus years of service is greater than or equal to 90)
Age 67 with 5 years of service
Cost-of-Living Adjustment (COLA)
CPI formula, 3% cap
Veteran Teachers Hired Prior to 1/1/2001
There is one additional benefit tier between the new teacher and veteran teacher tiers compared here. The exact transition dates between these tiers are not relevant to this comparison.
Defined Benefit
Employee: 5%; Employer: 16.42%
Multiplier
1.7%
Average Salary
Highest 36 consecutive months
Normal Retirement
Age 50 with 30 years of service
Age 65 with 5 years of service
Cost-of-Living Adjustment (COLA)
CPI formula, 5% cap
Washington TRS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Washington is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Washington teachers also pay into Social Security
Administrative Fee for Supplemental Plans
0.0184% for 457 for some
New Teachers Hired On or After 1/1/2024
Choice of Defined Benefit or Hybrid
Employee
For defined benefit plan, 8.05%
For hybrid plan, 0% to defined benefit
Employer
8.05%
Multiplier
2% for defined benefit; 1% for hybrid
Average Salary
Highest 60 consecutive months
Normal Retirement
Age 62 with 30 years of service
Age 65 with 5 years of service
Hybrid: Age 60 with 8 years of service
Cost-of-Living Adjustment (COLA)
CPI, 3% cap
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Choice of Defined Benefit or Hybrid
Employee
For defined benefit plan, 8.05%
For hybrid plan, 0% to defined benefit
Employer
8.05%
Multiplier
2% for defined benefit; 1% for hybrid
Average Salary
Highest 60 consecutive months
Normal Retirement
Age 62 with 30 years of service
Age 65 with 5 years of service
Hybrid: Age 60 with 8 years of service
Cost-of-Living Adjustment (COLA)
CPI, 3% cap
Information for this state pension plan is not yet available.
Wisconsin WRS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Wisconsin is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Wisconsin teachers also pay into Social Security
Administrative Fee for Supplemental Plans
0 to 0.18% based on balance for 457 for some
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 6.95%; Employer: 6.95%
Multiplier
1.765% for years prior to 1/1/2000
1.6% for years after 1/1/2000
Average Salary
Highest 3 years
Normal Retirement
Age 57 with 30 years of service
Age 65 with 5 years of service
Cost-of-Living Adjustment (COLA)
Complicated... benefit can increase or decrease based on market returns
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 6.95%; Employer: 6.95%
Multiplier
1.765% for years prior to 1/1/2000
1.6% for years after 1/1/2000
Average Salary
Highest 3 years
Normal Retirement
Age 57 with 30 years of service
Age 65
Cost-of-Living Adjustment (COLA)
Complicated... benefit can increase or decrease based on market returns
Wyoming WRS
More information about this plan is available directly from the pension website, and Karl Fisch's book for Wyoming is available here. This data is current as of January 1, 2025.
Applicable to All Teachers
Social Security
Wyoming teachers also pay into Social Security
Administrative Fee for Supplemental Plans
0.20% for 457, capped at $300
New Teachers Hired On or After 1/1/2024
Defined Benefit
Employee: 9.25% (employer pays 5.57% of employee contribution); Employer: 9.37%
Multiplier
2%
Average Salary
Highest 60 consecutive months
Normal Retirement
Rule of 85 (age plus years of service is greater than or equal to 85)
Age 65 with 4 years of service
Cost-of-Living Adjustment (COLA)
None
Veteran Teachers Hired Prior to 1/1/2001
There are no additional benefit tiers between the new teacher and veteran teacher tiers compared here. The exact transition date between these tiers is not relevant to this comparison.
Defined Benefit
Employee: 9.25% (employer pays 5.57% of employee contribution); Employer: 9.37%
Multiplier
2.125% first 15 years, 2.25% over 15 years
Average Salary
Highest 36 consecutive months
Normal Retirement
Rule of 85 (age plus years of service is greater than or equal to 85)
Age 65 with 4 years of service
Cost-of-Living Adjustment (COLA)
None