Teacher Pension Workshop: Connecting Evidence-Based Research to Pension Reform: Investment Risk and Its Potential Consequences for Teacher Retirement Systems and School Districts

2018 ◽  
Author(s):  
Don Boyd ◽  
Yimeng Yin
Keyword(s):  
School Districts ◽  
Pension Reform ◽  
Evidence Based ◽  
Investment Risk ◽  
Teacher Retirement ◽  
Retirement Systems

Teacher Pension Workshop: Connecting Evidence-Based Research to Pension Reform: Pension Enhancements and Teacher Retirement Behavior

2018 ◽  
Author(s):  
Wei Kong ◽  
Shawn Ni ◽  
Michael Podgursky ◽  
Weiwei Wu
Keyword(s):  
Pension Reform ◽  
Evidence Based ◽  
Teacher Retirement ◽  
Retirement Behavior

Teacher Pension Workshop: Connecting Evidence-Based Research to Pension Reform: Pension Enhancements and Teacher Retirement

2018 ◽  
Author(s):  
Wei Kong ◽  
Shawn Ni ◽  
Michael Podgursky ◽  
Weiwei Wu
Keyword(s):  
Pension Reform ◽  
Evidence Based ◽  
Teacher Retirement

US COVID-19 local budget squeeze will intensify

2020 ◽  
Keyword(s):  
School Districts ◽  
State Funding ◽  
Economic Consequences ◽  
Investment Risk ◽  
Content Type ◽  
Transportation Investment ◽  
Additional Funding ◽  
Local Initiatives ◽  
Local Budget

Significance States' revenues have fallen sharply while mandatory spending has surged; one projection sees their combined budgetary shortfall amounting to USD615bn over the next three years. As they lack the federal government's ability to print money, states will be obliged to lay off workers in droves unless Congress provides aid. Impacts As eviction moratoriums end, homelessness could rise, with cascading economic consequences and greater costs to states. Measures to ensure schools can open safely will need additional funding for school districts. New local initiatives, such as transportation investment, risk being delayed. Congress Democrats will push for more widespread state funding, but Republicans will only agree to targeted measures.

scholarly journals Peaks, Cliffs, and Valleys: The Peculiar Incentives in Teacher Retirement Systems and Their Consequences for School Staffing

2009 ◽  
Vol 4 (2) ◽  
pp. 175-211 ◽  
Author(s):  
Robert M. Costrell ◽  
Michael Podgursky
Keyword(s):  
Early Years ◽  
Defined Benefit ◽  
Employee Behavior ◽  
Key Factors ◽  
Pension Systems ◽  
Teacher Retirement ◽  
School Staffing ◽  
Dramatic Decline ◽  
Highly Nonlinear ◽  
Retirement Systems

This article examines the pattern of incentives for work versus retirement in six state teacher pension systems. We do this by examining the annual accrual of pension wealth from an additional year of work over a teacher's career. Accrual of wealth is highly nonlinear and heavily loaded at arbitrary years that would normally be considered mid-career. One typical pattern exhibits low accrual in early years, accelerating in the mid- to late fifties, followed by dramatic decline or even negative returns in years that are relatively young for retirement. Key factors in the defined benefit formulas that drive such patterns are identified along with likely consequences for employee behavior. The authors examine efficiency and equity consequences of these systems as well as options for reform.

“But the Pension Fund Was Just SITTING There …”: The Politics of Teacher Retirement Plans

2010 ◽  
Vol 5 (4) ◽  
pp. 587-616 ◽  
Author(s):  
Frederick M. Hess ◽  
Juliet P. Squire
Keyword(s):  
Pension Plans ◽  
The Political ◽  
Retirement Plans ◽  
Public Officials ◽  
Short Term ◽  
Policy Makers ◽  
Political Incentives ◽  
Teacher Retirement ◽  
Retirement Systems

The tension at the heart of pension politics is the incentive to satisfy today's claimants in the here and now at the expense of long-term concerns. Teacher pensions, in particular, pose two challenges. The first is that political incentives invite irresponsible fiscal stewardship, as public officials make outsized short-term commitments to employees. The second is that incentives hinder modernization, as policy makers avoid the politically perilous task of altering plans ill suited to attracting talent in the contemporary labor market. The alignment of the political stars has helped some states and localities to address the first challenge, but far too few have demonstrated a willingness to tackle the second. We illustrate the political dynamics through discussions of pension plans in New Jersey, Oregon, and San Diego, California, and suggest several political strategies that could make pension challenges more tractable and encourage public officials to be responsible fiscal stewards or to revisit anachronistic retirement systems.

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