Moreover, as with defending job security as a cheaper way to attract decent teachers, defined -
benefit pension plans have big downsides with
hidden costs: They make it unappealing for a talented person to work as a teacher for just part of a career, make it hard for teachers to move around, offer
huge bonuses to older teachers who don't add any special value, etc. (And this is all viewing education in isolation — committing future taxpayers to pay for pensions teachers are earning now is going to mean spending less on other priorities in the future.
(A number so ridiculously
huge I can't even think that big) But even straight up head to head and ignoring
hidden cost
benefits, making the change still is far more profitable at every level compared to the antiquated systems being subsidized with billions and billions every year just so they don't fail.