Challenging the claims of pension boards and other groups about the cost-effectiveness, fairness and flexibility of the traditional defined benefit pension plans still in place in 38 states, this report includes a report card on each of the 50 states and the District of Columbia, with a detailed analysis of state teacher pension policies, and…

Barriers to the cross-state mobility of the teacher workforce can have undesirable effects on the teacher workforce and student outcomes. While a large literature addresses issues related to within-state mobility, very little is known about patterns of cross-state mobility. This paper addresses that research gap. We describe features of Oregon's…

The financial problems afflicting the Illinois teacher pension plan have grabbed headlines. An equally important problem, though underappreciated, is that relatively few teachers benefit much from the plan. This report evaluates the pension benefits provided to Illinois public school teachers. The researchers project annual and lifetime pension…

The 2017-18 AASA Superintendent Salary & Benefits Study marks the sixth edition of this study, employing a revised survey instrument. This survey tracks the demographics, salary, benefits, and other elements of the employment contracts of school superintendents throughout the country. This year's study is based on 1,172 responses…

Teacher compensation is driven largely by teacher longevity. While it's true that wages in many fields generally increase with experience, what differs in teaching is the degree to which pay is linked to seniority. And compared to other professions, teaching has more heavily back-loaded pay -- meaning a disproportionate share of earnings comes…

Retirement savings are often described as a three-legged stool: Social Security, employer retirement plans, and personal savings. For many American workers, Social Security is the most consistent portion of the three-legged model, providing a solid plank of retirement savings. But nationwide, more than 1 million teachers--about 40 percent of all…

Budget 2019 brings welcome investments for students. It does not address however, key challenges facing Canada's colleges and universities, resulting from stagnant government funding for core operating costs. Budget 2019 commitments to making post-secondary more affordable average around $650 million per year for five years and include investments…

While financial planning students are expected to be able to understand client retirement plans, subtle differences in cost-of-living adjustments can have major impact on the success of client retirement plans. This teaching note compares the cost-of-living adjustments in the largest government sponsored retirement systems and a hypothetical…

We use data from workers in the largest public-sector occupation in the United States -- teaching -- to examine the effect of pension enhancements on employee retention. Specifically, we study a 1999 enhancement to the benefit formula for public school teachers in St. Louis that resulted in an immediate and dramatic increase in their incentives to…

The "Annual Disability Statistics Compendium" is a publication of statistics about people with disabilities and about the government programs which serve them. The "Compendium" is designed to serve as a summary of government statistics. The 2016 "Annual Disability Statistics Compendium" was substantially revised and…

Since 2002, public school teachers in Florida have been permitted to choose between a defined benefit (DB) and a defined contribution (DC) retirement plan. We exploit this unique policy environment to study new teachers' revealed preferences over pension plan structures. Roughly 30 percent of teachers hired between 2003 and 2008 selected the DC…

Population aging in Korea is projected to be the most rapid among Organisation for Economic Co-operation and Development (OECD) countries between 2000 and 2050. However, social spending in Korea remains low, reflecting Korea's relatively young population, limited health and long-term care insurance coverage, and immaturity of its pension system.…

We study the effect of incorporating heterogeneity into default rules by examining the choice between retirement plans at a firm that transitioned from a defined benefit (DB) to a defined contribution (DC) plan. The default plan for existing employees varied discontinuously depending on their age. Employing regression discontinuity techniques,…

This paper analyzes a 2002 policy change in Florida allowing teachers to choose between a traditional defined benefit pension plan and a 401k-style defined contribution plan. The authors were able to track who chose which plan, what subject they taught, how effective they were in the classroom, how long they remained teaching, and whether the…

The silver tide of faculty retirement continues to ebb and flow. While much of today's scholarship on faculty retirement focuses on the financial implications for colleges and universities, arguing that older faculty members clog up the faculty pipeline, cost more in salary and benefits, and are ineffective teachers who fear technology, little…