It doesn’t matter what portion of the teachers’ pension funds are in stocks. Those are “defined benefit” pensions, and pretty much guaranteed. The taxpayers would have to pick up the slack if the mutual funds they’re invested in crash.
That’s my understanding of it. Correct me if I’m wrong.
The state pension is guaranteed even by the mutual fund. Your retirement is based upon a formula which includes years of service, hoghest year salary, and percentage per year 9usually 2-3%.
Many employees join the Savings Plus program which offers 20 or so tax-deferred investments the employee can make through payroll deduction. This is done on their own and is supplemental to their state pension.