Ladder Was Pulled Up: Young Teachers Lose Out Double on Retirement in Illinois – TeacherPensions.org

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nixit71
10 years ago

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.

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