What's in your PERA table?

Depending on your PERA hire date, you will be placed in one of nine tables. Veteran teachers are placed on more desirable tables than newer teachers. It is very important that you find and understand your PERA table. This may determine how long you'll have to work AND how much you may want to save!  Newer teachers (table 9) will probably want to start saving early in their careers or they may be forced to work until age 65, or 35 years of service!

 Step 1: Find your PERA table at the link below.
https://www.copera.org/members/has-tables

Use this link and scroll down to find your table (table #1 is shown below). It is based on your hire date. The goal is to be out of the green shaded, reduced pension area.  For example, in PERA table #2, I will be out of the shaded area at age 50 with 30 years of service and I will receive 75% of my highest average salary.

Step 2: Figure out how much more you'll need to save.

Once you know your percentage, and approximate HAS (highest average salary), you can begin to determine how much you will need to put away in your 401(k), 457(b), and/or Roth IRA. In the example (below) I will need to save an additional $300,000 thousand to meet my budget needs. Let us know if you need any help!