what percentage of salary do teachers get in their pension
Teachers generally accept lower base salaries in exchange for future pension benefits, and the plans are funded in part through contributions that are considered part of their pay packages. Such plans are expensive: roughly 1 in 10 dollars spent on education nationwide goes toward teacher retirement benefits. Pension contributions amount to 17 percent of a teacherâs salary, on average, or more than $1,100 per student nationwide (see Figure 1). Those amounts have grown sharply in recent years to historic highs, and contributions to teacher pensions are higher than in any other profession. These types of pension plans do offer teachers some advantages.