Retirement Planning for Educators: 4 Ways to Strengthen Your Future

Retirement Planning for Educators: 4 Ways to Strengthen Your Future

You spend your days helping students plan for their futures. Have you given your own the same attention? Whether you’re just starting out or a few years from your last bell, these four steps can help.

1. Understand your PSERS benefit. Pennsylvania public school employees typically participate in PSERS. Your membership class depends on when you first became eligible for membership. Your class affects your contributions and benefits, so review your statement and know what to expect. pa.gov

2. Add a 403(b) or 457(b). A pension is just one piece of the puzzle. A voluntary workplace plan lets you save more through payroll deductions. For 2026, the 403(b) limit is $24,500, with an additional $8,000 catch-up allowed if you’re 50 or older. IRS

3. Use catch-up options. Employees ages 60 to 63 may be able to contribute up to $11,250 in catch-up contributions, for a 2026 maximum of $35,750. 403(b) plans also offer a special catch-up of up to $3,000 per year for employees with 15 or more years of service. Ask your district’s benefits office which options your plan offers. IRS

4. Protect your savings. An emergency fund helps you avoid dipping into retirement for unexpected expenses, which can trigger taxes and penalties. A savings account is a great place to build one. Also, make sure your beneficiaries are up to date on every account.

Year-end is a smart time to act. Ask your HR or payroll department about adjusting your contribution for 2027, and use our free calculators at lvecu.org/calculators to see how small increases add up.

Please consult a qualified professional and your district’s benefits office before taking action.