Hi Thump.. I know that's the way the math works... but I'm pretty sure the contract language caps out around 60-66% ...If you teach 30 years, you get 66% of your 3 highest years averaged.
If you go up to 35 years, you make 85%-88% (a little unsure of the exact #) of your 3 highest years averaged together.
It gets a bit garbled when you have to choose who gets it and who's life it's based on... you alone... your spouse... stuff like that...
I need to re-verify that here in Jersey since one of my businesses is 403b... but I think this is somewhat standard NEA contract stuff...
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