§ 98192 Retirement Contribution Requirements

• •Both the district (like your school or city job) and the workers pay into the retirement fund.
• •Workers pay half the cost of their retirement benefits over time, with interest.
• •The exact amount workers pay is calculated using special tables and interest rates set by the board.
• •This doesn’t include any extra credit for work done before this rule started.

If you work for a school district and get a pension when you retire, part of your paycheck goes into the retirement fund.

The school district also puts in money, but you pay about half of what your pension will be worth over time. If you worked for the district before 1967, that time might not count the same way.