Donna'I can only speak for Connecticut but I am fairly sure that all states operate the same way with minor differences. Connecticut is 70% of top 3 years. Here is the point that your message neglects to point out.TEACHERS PAY INTO THEIR OWN RETIREMENTS SEPERATE FROM OTHER STATE ACCOUNTS. As a matter of fact we recently had to enact a state amendment to protect our account because the state kept borrowing money form it and not paying it back. So,after 35 years of teaching a CT. teacher gets about $56,000. Is that so bad? Anyone who says we cost states billions of dollars just does not know what they are talking about.
Why is it that anytime we have bad economic times the teachers are the first group blamed?
By the way,at least in CT.most of us also have to pay our own health insurance out of this pension. For me and my wife that's $14,000 per year.
Also in CT even if we have accumulated the necessary credits to collect social security we BY LAW CANNOT. That's right we pay in and get NOTHING out so our retirement is all we have.