In some states these payout costs come in the form of enhanced lifetime pension benefits. (americanprogress.org)
In Missouri, a teacher who stays for a full career accrues $ 250,000 in lifetime pension wealth, a principal accrues over $ 360,000, and a superintendent $ 450,000. (educationnext.org)
Pension plans, however, strongly disincentivize work after retirement; an Illinois teacher who works five years beyond 35 years forfeits $ 49,000 in lifetime pension benefits because every year she chooses to stay beyond retirement is a year she forfeits a yearly pension benefit. (teacherpensions.org)