Teachers and Public School Workers’ Guide to Retirement Plans

No matter what profession you’re in, planning for your retirement is a must, especially for those approaching the retirement age. Working in the public sector, helping children achieve their goals, is a tough job. You’ll want to make sure that you’ve got something waiting for you at the end of the road.

This is why we thought it would be useful to put together an article on essential things you need to know about making retirement plans. If this is something that you’re interested in, read on for a brief guide on how to approach retirement plans for teachers and public school workers.

Conditions to Be Aware Of

Unfortunately, not everyone will qualify for the state’s retirement benefits. On average, you’ll find that the accepted range normally lies between five to ten years, of course, each state will have its own standards. The sad reality is that as of now, most teachers on staff right now will probably not be able to receive the full pension. 

Statistically, only about 36% of teachers are eligible to receive this pension. The average pension received by retired teachers, in Pennsylvania at least, over the past ten years is around $24,000. While this may seem like a lot to some people, you have to factor in the fact that teachers, over time, contribute a portion of their earnings towards the entire public school system.

Basic Steps

A common security measure that people take is the educator retirement plan. These retirement plans, much like the 401(k) that exists for private entities, allow you to invest a portion of your monthly income. If you’re lucky, your employer might even match your contribution.

For our purposes, we’ll be looking for the educator retirement plan 403(b). Payments made to this effect can be considered tax-deductible.

The Next Steps

With all that in mind, a lot of people might be worrying about the responsibility, and hassle, of creating new income streams to improve their chances in the future. While you are correct that the pension is not something you can rely on, you won’t really have to worry as long as you’ve planned things out.

So let’s strategize a bit. One thing to note about pensions is that they are based on the number of years serving the public education system along with your earnings. With that in mind, you can roughly estimate what you can expect from your pension. 

Now, to improve on that, the best thing to do would be to consult with an expert in financial advice. These professionals are trained to assess what you have, what you need, and how you can help yourself achieve that goal. 

And there’s no one-size-fits-all deal here. Others might advise you to invest in various companies while others will push you to contribute to the IRA for the tax deductibles. 


We hope this article has helped shed some light on retirement planning for teachers and public school workers. While things may seem rather complicated, it’s something that you’ll be able to manage as long as you take the time to prepare and plan everything out. Be sure to keep the information listed here in mind so that you can make the best and most informed decisions regarding your retirement.

We’re the Experts in State Employee & Educator Retirement Planning

When it comes to State Employee & Teacher benefits and retirement planning, don’t trust just anyone. We here at My State Pension are dedicated to connecting you with a specialized licensed agent or registered investment advisor helping figure out your educator retirement plan so you can maximize benefits and retire with peace of mind.

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If you are a K-12 educator or staff, collegiate educator or staff, municipal or state employee we can connect you with a licensed financial professional with the experience needed to help you understand your pension benefits and overall retirement plan.