Question for Massachusetts Teachers?

[perla75]

Just got my first paycheck and they took quite a bit out for the Massachusetts Teacher's Association/retirement fund.

I wondered how much they typically take out? This is my first check, so maybe some of what they deducted is for an annual MTA fee??

Around how much (or what %) does the MTA take out from your paycheck?

Thanks!

 

[Northstar]

I think that's your pension plan... you'll be contributing a set amount each paycheck.

Isn't there some weird thing where Mass. teachers pay into this instead of Social Security?

Somebody on the Dis will know and enlighten us! (you have a real reason to want to know. I'm just curious)

 

[perla75]

I think that's your pension plan... you'll be contributing a set amount each paycheck.

Isn't there some weird thing where Mass. teachers pay into this instead of Social Security?

Somebody on the Dis will know and enlighten us! (you have a real reason to want to know. I'm just curious)

I think it is for a pension plan. When I signed up for it online (had no choice), it didn't list any options to choose how much $$ they take out. It was a 2 week check (my first one), but they took out much more than I had expected. I wondered if it was more for the first month or if it will be this amount every month.

 

[friendofgusgus]

I'm not a teacher, but I am a MA municipal employee. What you're looking at is your pension plan deduction. For us, it is nine percent of your first 30K and 11 percent of your expected earnings over 30K. Mine is broken out on my pay stub as two line - first the 9% and then the 2%. Union dues are subtracted separately.

It is a lot - more than FICA, but it generally comes out before your federal income taxes are figured which helps a lot at tax time for your federal taxes. (Your Massachusetts taxes will be based on the whole amount.)

Welcome to the world of public employees. Now, when you hear people complaining about public employees who receive huge pensions, you'll know that you paid for it - it's not a gift like some politicians here make it out to be...