Wyoming is dedicated to continually growing the quality of its teachers and learning environment. In order to attract more high-quality teachers who promote positive classroom attitudes, Wyoming offers a comprehensive benefits package that ensures whole families are protected and prepared for a variety of scenarios.
As health care costs rise, it is more important than ever to have adequate health coverage. Additionally, as your career progresses, you'll begin to think less about the present and more toward the future. By offering its teachers both retirement and health benefits, Wyoming ensures teachers spend less time stressing about their health and retirement, and more time on their students.
Learn more about becoming a teacher. Contact schools offering teacher education/certification programs in Wyoming.
When you are hired as a teacher in Wyoming, you are required to enroll in the Public Employee Pension Plan. As soon as you meet certain qualifications, the pension will provide you with monthly payments for life.
While you are a teacher in Wyoming, both you and your employer contribute each month to fund your future retirement. A total of 14.12 percent of your monthly salary will be contributed; you contribute 7 percent and your employer contributes 7.12 percent.
Your contributions are maintained in a separate account so you can keep track of your balance and the accrued interest. The interest is calculated on non-retiree accounts at a rate determined by the board. The current rate is 5.5 percent.
To determine what your monthly pension and retirement age is, the Public Employee Pension Plan is broken up into two different tiers:
This tier is for those that have made a contribution before Sept. 1, 2012. Your benefit is calculated using a multiplier of 2.125 percent for the first 15 years of service, and 2.25 percent for years of service above 15 percent, and your three-year highest salary. You are eligible for full retirement at 60 years of age. The highest average salary is calculated by averaging your 36 highest continuous months of salary.
If you made your first contribution on or after September 1, 2012, your benefit is calculated using a multiplier of 2 percent for all years of service, and your five-year highest average salary. You are eligible for full retirement at 65 years of age. The highest average salary is calculated by averaging your highest 60 months of salary.
Because your age and the age of your beneficiary can affect your retirement, you can calculate your estimated monthly retirement benefits here.
An additional provision of the retirement plan is the “Rule of 85.” Under the rule of 85, you are eligible for full retirement and benefits if your age plus your years of service equals 85. This can help you retire earlier than the required age. For example, if you are 55 and have been working for 30 year, you are eligible to retire with full benefits.
To learn more about the retirement decisions available to you, visit the Public Employee Pension website.
To ensure the health and well-being of workers and their families, all public employees in Wyoming have the right to health benefits, including teachers. As a new teacher, you have 31 days to enroll you and your dependents in a health insurance program. Your coverage will begin on the first day of the month following your employment.
The state will pay approximately pay 85 percent of your selected health and dental insurance plan. All of the plans have an initial deductible, and the state health care plan will generally pay 80 to 85 percent of in-network and in-state services. If the provider is out-of-network or out-of-state, the plan may pay less and you will be responsible for the cost.
All insurance for teachers in Wyoming is through CIGNA Healthcare, and the choice of deductible is made by the employee. Generally, the higher the deductible, the lower premium you pay per month.
There are four CIGNA Healthcare deductible plans:
All of these options will pay a portion of the following coverage:
The state of Wyoming also offers additional benefits including, dental, vision, short term disability, and life insurance. You can learn more about all of the benefits they offer by contacting the Human Resources Division.