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Pity The Tier VI Teacher.

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A new school year will be starting in September and approximately 5,000 "newbie" teachers will be thrown in the classroom.  The question is how long will they last?  With Charlotte Dainelson, inept administration, and lax student discipline rules, many of these "newbies" will end up quitting.  At best, maybe 50% of the "newbies" will be still in the classroom.  Moreover, 80% will no longer be teaching in the school they started in.  Finally, only 33% will make it to vesting for a pension and less to receive retiree health benefits.

Below summarizes the comparison between the two tiers.

Tier IV.
Vesting for a pension, between 5 to 10 years.
Employee contribution 3% first 10 years , then 0% beyond ten years.
Highest three consecutive years for determining the pension.
Five to ten years to receive retiree health benefits.
Multiplier, 1.67% per year for less than 20 years,  2% between 20 to 30 years.
1.5% per year for years beyond 30 years of service.
Age Reduction Factor, 0.73 to 0.94 from 55 to 61.

Tier VI.
Vesting for a pension, ten years.
Employee contribution 4.5% to 6%, depending on salary. 
Highest five consecutive years for determining pension.
Fifteen years to receive retiree health benefits.
Multiplier, 1.67% per year for the first 20 years. 2% for 20 years or more.
Age reduction factor, 0.48 to 0.94% from 55 to 62.  

To show how unlikely these"newbie" teachers will make it to full retirement, please play my Tier VI retirement gameHere

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