Michigan Teaching Salaries and Benefits
In order to address budget shortfalls across the country, many states have reduced some of the typical perks teachers have been enjoying for years. While Michigan has not been immune to these cost-cutting initiatives, its citizens are still offered employee benefits packages to attract them to careers in education.
As a teacher in Michigan, you gain both retirement planning and health insurance benefits that help you prepare for the future. With these benefits, you’ll be able to remain more financially secure as you obtain affordable health care and save for retirement.
Learn more about becoming a teacher. Contact schools offering teacher education/certification programs in Michigan.
Teacher Salaries in Michigan by Education
As teachers further their educations and gain experience in the field, they receive pay increases that reflect their dedication and hard work. Salaries vary between school districts, but the following are some examples of the salaries you can expect in Michigan:
|At 3 years||$52,460||$56,048|
|At 6 years||$62,325||$69,499|
|At 9 years||$73,983||$82,502|
|At 12 years||$75,597||$89,048|
Source: Warren Consolidated Schools
Retiring in Michigan
Once a Michigan public school hires you, you’re entered into the Michigan Public School Employee’s Retirement System (MPSERS). The system currently services over 187,000 retirees, and as of 2010, distributed $3.5 billion in pension benefits.
The Michigan retirement system is a contributory pension system, meaning teachers receive lifetime monthly pensions upon retirement in exchange for contributions throughout their careers.
As a member of MPSERS, you’ll contribute $510 to the fund, in addition to 6.4% of your compensation over $15,000. Your employing school district will also contribute an amount determined on a yearly basis.
These contributions help ensure the fund exists for when you, yourself, reach normal retirement age. In Michigan, teachers may retire with unreduced benefits once they meet the following qualifications:
- At any age with 30 years of service
- At age 60 with 10 years of service
The exact benefits you receive don’t actually rely on your contributions, but rather your years of service and average salary. A pension formula designed by the state legislature is used to determine a teacher’s maximum monthly benefit. You can discover your own likely benefit by inputting your estimations into the following formula:
Final Average Compensation
Years of Service
For example, if you worked for 25 years and retired with a final average salary of $55,000, you would receive lifetime monthly benefits of $1,718.75.
When you retire, you choose from several payment methods that can affect your monthly benefit. For example, you’ll have the option of receive full benefit payments, or reducing payments to establish a survivor fund that becomes available to a beneficiary upon your death.
If you want to learn more about retiring in Michigan, explore information provided by the Office of Retirement Services.
Access to Affordable Health Insurance
Rising health care costs are a worrying fact for many professionals, but teachers in Michigan are better able to tackle these problems with insurance benefits they receive.
In Michigan, health insurance benefits are typically determined on a school district level, meaning your exact costs and coverage will vary. While some schools offer plans with give you 100% coverage for some medical services, others are less comprehensive.
Regardless of the plan you enter into, most plans offer some coverage for the following medical services:
- Physician Services
- Home Health Care
- Outpatient Nursing
- Ambulance Services
- Preventive Care
- Prescription Drugs
Even apart from medical insurance, teachers in Michigan typically enter into dental and vision insurance plans. While plans offer differing levels of coverage depending on the network provider, they tend to cover similar services like diagnostic care, restorative care, and orthodontia.
If you’re interested in learning more about the health insurance benefits you might receive in Michigan, contact some school districts in your area.