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Jan 7, 2022

Many pensions for government employees are not making the grade.  A group called Bellwether Education Partner says three in four states that offer teachers a retirement plan got an “F.”  Only 13 states received grades of “B” or “C.”  No state earned an “A.”  Much of the reason is many pensions no longer pay out a monthly amount based on salary and years of service.  Instead, they act more like a 401k and depend on yearly contributions and investment returns.  What are the options when converting a government pension?  How can you make the money last through retirement when many groups like teachers aren’t eligible for Social Security?