Quote:
Originally Posted by Mr.Coffee
Can anyone actually detail what the teachers pension actually is? I had heard it was average of your 5 highest earning years for life after retirement, but I'm not sure that's true and am too lazy to go research if there's a teacher here that can just confirm / deny.
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I haven't read the thread so someone might've answered this already but essentially it's 1.4% of the YMPE * # of years worked + 2% above the YMPE * # of years worked.
If you retired today at 55 with 30 years of experience and your 5-year average highest salary was $100k you would receive about $48,000 a year as a pension.