The Utah Foundation released a report Thursday on teacher retirement plans in Utah and found that, when compared with neighboring states, Utah has one of the most generous plans — but prospective teachers have no idea.
Shawn Teigen is the lead researcher on the report and said that teachers have a “great” governmental benefit, but prospective teachers simply don’t know about it and may, therefore, choose another profession.
He said Utah plans, “Allow people to retire with more than 80% of their annual salary if you include social security. And, unlike all of our other mountain states, Utah doesn’t have a required employee contribution.”
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