If you’re a Michigan school teacher, you only get 75 days from your first pay period to choose your retirement plan and that one decision may shape your financial future for decades.

In this episode, Michael CFP® and EA unpacks what those two options really mean. There's the Pension Plus 2 plan and the Defined Contribution plan. He discussed how they work differently when it comes to paychecks, matching contributions, potential taxes, early access, and even what happens to your money after you’re gone.

We’ll talk through questions like:

💭 How does the new Michigan Teacher pension formula actually work?

💭 What happens if you change careers or retire early?

💭 Why do newer teachers have such different benefits from those who started 20 years ago?

💭 What are the pros and cons to each option?

💭 How do you know which plan might fit you best based on your goals, comfort level, and your long-term plans

If you’re a newer teacher, this episode breaks down the fine print into plain English to help you make a more confident, informed choice about your future.

🧠 Stay curious.

🎧 Listen to more episodes of Common Curiosities: Retirement wherever you get your podcasts.

𝐖𝐡𝐲 𝐰𝐞'𝐫𝐞 𝐡𝐞𝐫𝐞? We’re here to make retirement planning feel less intimidating by helping people think through their strategies and plans through clear relatable financial topics!

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