January 2016

West Virginia

Submitted by admin on Fri, 2016-01-29 16:42
Based on our analysis of West Virginia’s teacher retirement plan, it earned an overall grade of F. West Virginia earned a F for providing adequate retirement benefits for teachers and a F on financial sustainability.

Glossary of Financial Terms

Vesting period: The number of years a teacher must teach before becoming eligible to receive a pension. Although the length of vesting periods vary by state, 5 years is typical. In every state, a teacher who leaves prior to vesting is eligible to withdraw his or her own contributions, sometimes with interest, but few states allow those employees to collect any portion of the employer contributions made on their behalf.

Employee contribution: The percent of a teacher’s salary that he or she pays annually to the pension fund.

Employer contribution: The percent of a teacher’s salary that the state, school district, or a combination of the two pays annually to the pension fund.

Normal cost: The annual cost of retirement benefits as a percentage of teacher salary. This excludes any debt cost.

Amortization cost: The annual cost of a pension fund’s contribution toward any unfunded liabilities. This can also be thought of as the debt cost of the pension fund.

Maryland

Submitted by admin on Fri, 2016-01-29 16:42
Based on our analysis of Maryland’s teacher retirement plan, it earned an overall grade of F. Maryland earned a F for providing adequate retirement benefits for teachers and a F on financial sustainability.

Glossary of Financial Terms

Vesting period: The number of years a teacher must teach before becoming eligible to receive a pension. Although the length of vesting periods vary by state, 5 years is typical. In every state, a teacher who leaves prior to vesting is eligible to withdraw his or her own contributions, sometimes with interest, but few states allow those employees to collect any portion of the employer contributions made on their behalf.

Employee contribution: The percent of a teacher’s salary that he or she pays annually to the pension fund.

Employer contribution: The percent of a teacher’s salary that the state, school district, or a combination of the two pays annually to the pension fund.

Normal cost: The annual cost of retirement benefits as a percentage of teacher salary. This excludes any debt cost.

Amortization cost: The annual cost of a pension fund’s contribution toward any unfunded liabilities. This can also be thought of as the debt cost of the pension fund.

Delaware

Submitted by admin on Fri, 2016-01-29 16:41
Based on our analysis of Delaware’s teacher retirement plan, it earned an overall grade of F. Delaware earned a F for providing adequate retirement benefits for teachers and a C on financial sustainability.

Glossary of Financial Terms

Vesting period: The number of years a teacher must teach before becoming eligible to receive a pension. Although the length of vesting periods vary by state, 5 years is typical. In every state, a teacher who leaves prior to vesting is eligible to withdraw his or her own contributions, sometimes with interest, but few states allow those employees to collect any portion of the employer contributions made on their behalf.

Employee contribution: The percent of a teacher’s salary that he or she pays annually to the pension fund.

Employer contribution: The percent of a teacher’s salary that the state, school district, or a combination of the two pays annually to the pension fund.

Normal cost: The annual cost of retirement benefits as a percentage of teacher salary. This excludes any debt cost.

Amortization cost: The annual cost of a pension fund’s contribution toward any unfunded liabilities. This can also be thought of as the debt cost of the pension fund.

Pennsylvania

Submitted by admin on Fri, 2016-01-29 16:41
Based on our analysis of Pennsylvania’s teacher retirement plan, it earned an overall grade of F. Pennsylvania earned a F for providing adequate retirement benefits for teachers and a F on financial sustainability.

Glossary of Financial Terms

Vesting period: The number of years a teacher must teach before becoming eligible to receive a pension. Although the length of vesting periods vary by state, 5 years is typical. In every state, a teacher who leaves prior to vesting is eligible to withdraw his or her own contributions, sometimes with interest, but few states allow those employees to collect any portion of the employer contributions made on their behalf.

Employee contribution: The percent of a teacher’s salary that he or she pays annually to the pension fund.

Employer contribution: The percent of a teacher’s salary that the state, school district, or a combination of the two pays annually to the pension fund.

Normal cost: The annual cost of retirement benefits as a percentage of teacher salary. This excludes any debt cost.

Amortization cost: The annual cost of a pension fund’s contribution toward any unfunded liabilities. This can also be thought of as the debt cost of the pension fund.

New Jersey

Submitted by admin on Fri, 2016-01-29 16:41
Based on our analysis of New Jersey’s teacher retirement plan, it earned an overall grade of F. New Jersey earned a F for providing adequate retirement benefits for teachers and a F on financial sustainability.

Glossary of Financial Terms

Vesting period: The number of years a teacher must teach before becoming eligible to receive a pension. Although the length of vesting periods vary by state, 5 years is typical. In every state, a teacher who leaves prior to vesting is eligible to withdraw his or her own contributions, sometimes with interest, but few states allow those employees to collect any portion of the employer contributions made on their behalf.

Employee contribution: The percent of a teacher’s salary that he or she pays annually to the pension fund.

Employer contribution: The percent of a teacher’s salary that the state, school district, or a combination of the two pays annually to the pension fund.

Normal cost: The annual cost of retirement benefits as a percentage of teacher salary. This excludes any debt cost.

Amortization cost: The annual cost of a pension fund’s contribution toward any unfunded liabilities. This can also be thought of as the debt cost of the pension fund.

New York

Submitted by admin on Fri, 2016-01-29 16:41
Based on our analysis of New York’s teacher retirement plan, it earned an overall grade of D. New York earned a F for providing adequate retirement benefits for teachers and a B on financial sustainability.

Glossary of Financial Terms

Vesting period: The number of years a teacher must teach before becoming eligible to receive a pension. Although the length of vesting periods vary by state, 5 years is typical. In every state, a teacher who leaves prior to vesting is eligible to withdraw his or her own contributions, sometimes with interest, but few states allow those employees to collect any portion of the employer contributions made on their behalf.

Employee contribution: The percent of a teacher’s salary that he or she pays annually to the pension fund.

Employer contribution: The percent of a teacher’s salary that the state, school district, or a combination of the two pays annually to the pension fund.

Normal cost: The annual cost of retirement benefits as a percentage of teacher salary. This excludes any debt cost.

Amortization cost: The annual cost of a pension fund’s contribution toward any unfunded liabilities. This can also be thought of as the debt cost of the pension fund.

Vermont

Submitted by admin on Fri, 2016-01-29 16:41
Based on our analysis of Vermont’s teacher retirement plan, it earned an overall grade of F. Vermont earned a F for providing adequate retirement benefits for teachers and a F on financial sustainability.

Glossary of Financial Terms

Vesting period: The number of years a teacher must teach before becoming eligible to receive a pension. Although the length of vesting periods vary by state, 5 years is typical. In every state, a teacher who leaves prior to vesting is eligible to withdraw his or her own contributions, sometimes with interest, but few states allow those employees to collect any portion of the employer contributions made on their behalf.

Employee contribution: The percent of a teacher’s salary that he or she pays annually to the pension fund.

Employer contribution: The percent of a teacher’s salary that the state, school district, or a combination of the two pays annually to the pension fund.

Normal cost: The annual cost of retirement benefits as a percentage of teacher salary. This excludes any debt cost.

Amortization cost: The annual cost of a pension fund’s contribution toward any unfunded liabilities. This can also be thought of as the debt cost of the pension fund.

New Hampshire

Submitted by admin on Fri, 2016-01-29 16:41
Based on our analysis of New Hampshire’s teacher retirement plan, it earned an overall grade of F. New Hampshire earned a F for providing adequate retirement benefits for teachers and a F on financial sustainability.

Glossary of Financial Terms

Vesting period: The number of years a teacher must teach before becoming eligible to receive a pension. Although the length of vesting periods vary by state, 5 years is typical. In every state, a teacher who leaves prior to vesting is eligible to withdraw his or her own contributions, sometimes with interest, but few states allow those employees to collect any portion of the employer contributions made on their behalf.

Employee contribution: The percent of a teacher’s salary that he or she pays annually to the pension fund.

Employer contribution: The percent of a teacher’s salary that the state, school district, or a combination of the two pays annually to the pension fund.

Normal cost: The annual cost of retirement benefits as a percentage of teacher salary. This excludes any debt cost.

Amortization cost: The annual cost of a pension fund’s contribution toward any unfunded liabilities. This can also be thought of as the debt cost of the pension fund.

Maine

Submitted by admin on Fri, 2016-01-29 16:41
Based on our analysis of Maine’s teacher retirement plan, it earned an overall grade of F. Maine earned a F for providing adequate retirement benefits for teachers and a F on financial sustainability.

Glossary of Financial Terms

Vesting period: The number of years a teacher must teach before becoming eligible to receive a pension. Although the length of vesting periods vary by state, 5 years is typical. In every state, a teacher who leaves prior to vesting is eligible to withdraw his or her own contributions, sometimes with interest, but few states allow those employees to collect any portion of the employer contributions made on their behalf.

Employee contribution: The percent of a teacher’s salary that he or she pays annually to the pension fund.

Employer contribution: The percent of a teacher’s salary that the state, school district, or a combination of the two pays annually to the pension fund.

Normal cost: The annual cost of retirement benefits as a percentage of teacher salary. This excludes any debt cost.

Amortization cost: The annual cost of a pension fund’s contribution toward any unfunded liabilities. This can also be thought of as the debt cost of the pension fund.

Massachusetts

Submitted by admin on Fri, 2016-01-29 16:41
Based on our analysis of Massachusetts’s teacher retirement plan, it earned an overall grade of F. Massachusetts earned a F for providing adequate retirement benefits for teachers and a F on financial sustainability.

Glossary of Financial Terms

Vesting period: The number of years a teacher must teach before becoming eligible to receive a pension. Although the length of vesting periods vary by state, 5 years is typical. In every state, a teacher who leaves prior to vesting is eligible to withdraw his or her own contributions, sometimes with interest, but few states allow those employees to collect any portion of the employer contributions made on their behalf.

Employee contribution: The percent of a teacher’s salary that he or she pays annually to the pension fund.

Employer contribution: The percent of a teacher’s salary that the state, school district, or a combination of the two pays annually to the pension fund.

Normal cost: The annual cost of retirement benefits as a percentage of teacher salary. This excludes any debt cost.

Amortization cost: The annual cost of a pension fund’s contribution toward any unfunded liabilities. This can also be thought of as the debt cost of the pension fund.