Let teachers buy back lost retirement benefits
The Senate has approved legislation that would help teachers who have made the jump from teaching in a private school to teaching in a public school buy back their pension time.
Under current law, when teachers move from private schools to public schools, their years of private teaching don’t count toward their pension benefits. Under Senate Bill 3027, teachers would have the option of paying into the system to cover both the employee and employer pension contributions for their years of private teaching.
Proponents of the legislation say that with public schools struggling to recruit teachers, this bill provides an incentive for private school teachers to consider taking these positions, helping to reduce teacher shortages at little to no cost to the taxpayers.
Senate Bill 3027 passed by a 55-0 vote, the bill now moves to the House of Representatives for consideration.