66 employees reported this benefit
It is an employee contributory and is augmented with the 401k. The 401k fund charges are very minimal.
Retirement used to be better, but they still offer an employee pension which the state contributes to.
These days it's good to have one!
Future pension needs after 5 years employment
20 years retirement under old contract. 25 years retirement under new contract
Pension is awesome, a little annoyed that it takes ten years to get vested but if you plan to stay with the state long term that shouldn't matter.
The retirement plan is excellent. It is a bit costly each pay but well worth it in the end.
After working for the Sate of Maryland for 10 years your eligible for a pension
It works if you understand the policy
I've heard its a great plan. Not quite there yet.