I’m looking for some advice here. I’m a Special Education teacher by profession but currently working in an education adjacent role, finishing a different certification. I’ll be finished in May 2025. I’m considering going back to the classroom and working the new role part time. It can be done full or part time and I can make the schedule. I’d be able to make $75 an hour (fee for service) or $85,000 salary. It’s in a behavioral health field. I need 6 more years to be vested in the teacher retirement system and I’d be eligible for a partial pension. If I go back into the classroom I’ll be making 66K and in 6 years, I’d be at a higher step and making 83k. In 10 years I’d be at 94k. As a teacher, I’d have a pension, social security, 457(optional) good healthcare and other benefits. The behavioral health job doesn’t have a retirement plan or benefit package that can compete with the school districts plan. However, the salary is higher. The salary caps at around 100k. I could always pick up a part time job too If I wanted. My current employer will be extending an offer to me when I finish the program. The 401k match is 25% of what the employee contributes up to 6%. I feel like this match isn’t a lot. The pension formula is years of service x 2% x highest 2 years average salary .
30 years in the pension and you get 60% of your gross. However, I know I won’t make it 30 years. I’d get $1400 a month in a partial pension if I go back for 6 years. Does it seem worth it?
I’m contemplating:
1) go back to the classroom for 6 years and get eligible for a partial pension and work the behavioral health job part time. I’d do behavioral health as my full-time after that.
2) stay at my current employer and take the 85k offer ( can work a part time if I wanted to make a little more)
30 years in the pension and you get 60% of your gross. However, I know I won’t make it 30 years. I’d get $1400 a month in a partial pension if I go back for 6 years. Does it seem worth it?
I’m contemplating:
1) go back to the classroom for 6 years and get eligible for a partial pension and work the behavioral health job part time. I’d do behavioral health as my full-time after that.
2) stay at my current employer and take the 85k offer ( can work a part time if I wanted to make a little more)