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Modernizing Teacher Pensions to Work for All Teachers (in an Ecosystem of Broad Educational Choice). Sketching a New Conservative Education Agenda

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Bibliographic Details
Title: Modernizing Teacher Pensions to Work for All Teachers (in an Ecosystem of Broad Educational Choice). Sketching a New Conservative Education Agenda
Language: English
Authors: Lueken, Martin F., American Enterprise Institute (AEI)
Source: American Enterprise Institute. 2021.
Availability: American Enterprise Institute. 1150 Seventeenth Street NW, Washington, DC 20036. Tel: 202-862-5800; Fax: 202-862-7177; Web site: http://www.aei.org
Peer Reviewed: N
Page Count: 6
Publication Date: 2021
Document Type: Reports - Descriptive
Descriptors: Retirement Benefits, Teacher Retirement, Public School Teachers, School Choice, Faculty Mobility
Abstract: Retirement benefits are integral to teacher compensation; yet, most pension plans are designed to reward teachers who remain in a system for a full career while levying substantial penalties on those who do not. Even teachers who devote their lives to the profession but do not stay in a single system for their entire careers are not served well by many of these plans. States must facilitate a dynamic educational workforce while placing teachers on a path to a secure retirement. Unfortunately, many teachers' retirement plans today fall short of these objectives. This report discusses final salary defined benefit (DB) plans, pension borders, issues with how benefits accrue, and pension plan reforms and why conservatives should champion for them.
Abstractor: ERIC
Entry Date: 2022
Accession Number: ED616687
Database: ERIC
Description
Abstract:Retirement benefits are integral to teacher compensation; yet, most pension plans are designed to reward teachers who remain in a system for a full career while levying substantial penalties on those who do not. Even teachers who devote their lives to the profession but do not stay in a single system for their entire careers are not served well by many of these plans. States must facilitate a dynamic educational workforce while placing teachers on a path to a secure retirement. Unfortunately, many teachers' retirement plans today fall short of these objectives. This report discusses final salary defined benefit (DB) plans, pension borders, issues with how benefits accrue, and pension plan reforms and why conservatives should champion for them.