Montgomery teacher pensions cost Md. $181 million

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Roughly $1 out of every $8 Maryland pays in pension benefits will go to Montgomery County teachers in fiscal 2011, as promised increases in salary and benefits have almost tripled teacher pension costs in the past decade. Ballooning teacher pensions will cost Maryland roughly $924 million in fiscal 2011, up from $348 million in 2002. Maryland’s total pension contributions — including state employees, police, judges, lawmakers and teachers — will add up to $1.4 billion for fiscal 2011, with Montgomery teachers getting roughly $181 million of that.

Maryland’s pension problem
State contribution:
»  State employee pensions: $343 million
»  Teacher pensions: $924 million
»  Other (state police, judges, legislators): $103 million
Total: $1.4 billion
Teacher retirement costs by county:
County Teachers Cost per student Total cost
Montgomery 16,672 $1,229 $181.5 million
Prince George’s 13,246 $1,057 $133.5 million
Baltimore 11,291 $927 $99.7 million

Montgomery is the largest of 24 school systems in Maryland, with 17,533 teachers who earn an average of roughly $70,000 annually — which is about $10,000 more the average teacher salary in the state.

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