Reply #10: Interesting - so I looked up the Ohio TRS formula [View All]

Here it is

"Retirement Income
Unreduced benefits are determined by multiplying your years of credited service by 2.2% of your final average salary for the first 30 years of service, plus 2.5% for the 31st year, 2.6% for the 32nd year, 2.7% for the 33rd year and so on, until 100% of the final average salary is reached.

With 35 or more years of contributing service, the first 31 years are multiplied by 2.5% of your final average salary; then the escalating formula described above is used.

If you retire with 30 years of service under the current formula, you will receive 66% of your final average salary as an annual retirement benefit. With 35 years, you will receive 88.5% of your final average salary."

So if a teacher in Ohio taught 35 years, she /he would do a little better than Texas. Assuming a $ 45,000 average top three salaries, she would get

$ 45,000 times 88.5 % or $ 39,825 per year or $ 3,318.75 per month.

Forty years would be a good bit better than that.

I'm a stockbroker who works with hundreds of teacher families. I actually find this stuff interesting.