Education News in Brief

New York State Teachers Sign Up Before Change in Pension Plan

By The Associated Press — January 05, 2010 1 min read
  • Save to favorites
  • Print

Prospective full-time teachers were scrambling to get into the state pension tier before a reform measure designed to save New York taxpayers billions of dollars took effect on Jan. 1.

The change adopted in December means new hires will receive less generous retirement benefits than teachers vested under the current pension plan—unless they followed the teachers’ union guidance to lock in to the richer plan. Teachers joining after Jan. 1 will have to pay 3.5 percent of their salaries toward their pensions for as long as they work. Currently employed teachers pay 3 percent for the first 10 years of service, then pay nothing.

More than 3,000 workers had joined the pension system last month under the more generous tier about three times the number who joined a year ago, according to data from the state Teachers Retirement System.

Related Tags:

A version of this article appeared in the January 06, 2010 edition of Education Week as New York State Teachers Sign Up Before Change in Pension Plan

Events

This content is provided by our sponsor. It is not written by and does not necessarily reflect the views of Education Week's editorial staff.
Sponsor
Assessment Webinar
The State of Assessment in K-12 Education
What is the impact of assessment on K-12 education? What does that mean for administrators, teachers and most importantly—students?
Content provided by Instructure
This content is provided by our sponsor. It is not written by and does not necessarily reflect the views of Education Week's editorial staff.
Sponsor
Student Well-Being Webinar
Centering the Whole Child in School Improvement Planning and Redesign
Learn how leading with equity and empathy yield improved sense of belonging, attendance, and promotion rate to 10th grade.

Content provided by Panorama
Teaching Profession Webinar Examining the Evidence: Supports to Promote Teacher Well-Being
Rates of work dissatisfaction are on the rise among teachers. Grappling with an increased workload due to the pandemic and additional stressors have exacerbated feelings of burnout and demoralization. Given these challenges, what can the

EdWeek Top School Jobs

Teacher Jobs
Search over ten thousand teaching jobs nationwide — elementary, middle, high school and more.
View Jobs
Principal Jobs
Find hundreds of jobs for principals, assistant principals, and other school leadership roles.
View Jobs
Administrator Jobs
Over a thousand district-level jobs: superintendents, directors, more.
View Jobs
Support Staff Jobs
Search thousands of jobs, from paraprofessionals to counselors and more.
View Jobs

Read Next

Education Briefly Stated: January 12, 2022
Here's a look at some recent Education Week articles you may have missed.
8 min read
Education School Bus Driver Retires After 48 Years Behind Wheel
Charles City school bus driver Betty Flick sat behind the wheel for the final time last week, wrapping up a 48-year career for the district.
3 min read
Charles City school bus driver Betty Flick poses with one of her farewell signs. Flick has been driving for Charles City School District for 48 years.
Betty Flick quickly fell in love with the job and with the kids, which is what has had her stay in the district for this long.
Courtesy of Abby Koch/Globe Gazette
Education Briefly Stated: December 1, 2021
Here's a look at some recent Education Week articles you may have missed.
9 min read
Education Briefly Stated: November 17, 2021
Here's a look at some recent Education Week articles you may have missed.
8 min read