This chart compares the percent of your average salary each state will pay after you have worked for 30 years and are 60 years old upon retirement and ranks from best to worst in that measure.
When you retire “early,” which is before a state says you should retire, e.g. Minnesota says you should retire at age 66, they impose a penalty on what you receive.
This chart works through the penalties and shows the number at 60/30 (age/years of work) with all applicable early retirement reductions.
If a teacher’s average salary is $50,000 – and the state shows 33% on this chart (Minnesota), that teacher would receive an annual lifetime pension of $16,500. Whereas if the state showed 60% (North Dakota) that teacher would receive an annual lifetime pension of $30,000 per year.