If it’s any consolation, some school districts are now offering a supplemental 403(b) plan (401k for nonprofits) where the district matches 50% of the employee contributions up to a maximum of 2%. This is, of course, on top of the existing pension, regardless if the teacher is Tier 1 or 2.
Sadly, I wouldn’t be surprised if the 4/2% plan compares favorably to the 6.2/6.2% SS pit my wages are currently being funneled into.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
If it’s any consolation, some school districts are now offering a supplemental 403(b) plan (401k for nonprofits) where the district matches 50% of the employee contributions up to a maximum of 2%. This is, of course, on top of the existing pension, regardless if the teacher is Tier 1 or 2.
Sadly, I wouldn’t be surprised if the 4/2% plan compares favorably to the 6.2/6.2% SS pit my wages are currently being funneled into.