Not exact matches
The Educational Conference Board, a coalition of school boards,
teachers unions, and school administrators, say the state's schools need and additional $ 1.5 billion next year just to
keep up with rising costs like health insurance premiums and
pensions.
The Educational Conference Board, a coalition of school boards,
teachers unions and school administrators, said the state's schools need an additional $ 1.5 billion next year just to
keep up with rising costs like health insurance premiums and
pensions.
Anti-tax cap groups, including the state United
Teachers, are disappointed in the Democratic - led Assembly's version of the cap, which
keeps the 2 percent ceiling on the growth of taxes, but does include some narrow exemptions for
pensions
The Educational Conference Board, a coalition of school boards,
teachers unions, and school administrators, say the state's schools need an additional $ 1.5 billion next year just to
keep up with rising costs like health insurance premiums and
pensions.
The research field of
teacher pensions has been a relative backwater, but lately it just
keeps getting more interesting.
Pension plans do appear to exert a limited «pull» effect that
keeps some late - career
teachers on the job as they near retirement.
Regardless of why
teachers join the profession or how long they intend to stay, it's clear that qualifying for a
pension is not enough to
keep them in it.
Will they
keep defending
pension plans where a few
teachers get solid retirement benefits at the expense of the majority?
In
keeping the existing defined benefit
pension plans, policymakers are choosing to preserve a system where
teachers and their employers are contributing more than
teachers will ever receive back in benefits.
At the very least, we'll see a transition to cash - balance plans, which
keep the government on the hook for a guaranteed payout but allow
teachers to «cash out» at any time without losing their
pension wealth.
Keeping public - school
teachers»
pensions plans flush is expensive, and it accounts for a growing share of education spending.
This would be better for
teachers and help
keep states from continuing to add to their burgeoning unfunded
pension liabilities.
Ideally,
teachers would
keep their low salaries (and low
pension contributions) for almost all of their career.
To maximize the net return on their
pensions,
teachers should want to
keep those contributions as low as possible.
In fact, the opposite is true, they argue: States depend on the constant turnover to
keep pension costs down, and
pension rules are often to blame for pushing out the most veteran
teachers as soon as they reach retirement age.
After all, the concerns that handed former governor Arnold Schwarzeneggar's first major defeat — the slew of propositions that would have addressed
pension reform, budget reform,
teacher tenure rules and other issues that would have
kept our state on an even economic keel — were thrown asunder by the public sector unions who now OWN this state.
I believe the one comment that districts seem to be okay with the revolving door of young
teachers who only stay 1 - 5 years max, to
keep costs down and avoid the skyrocketing retirement
pension costs that we are now experiencing, that may jeopardize the six figure administrative salaries.
Atlanta Public Schools Chief Financial Officer Lisa Bracken said the school district has higher costs for several reasons: The expense of city living drives up
teacher pay; the district has «low population» schools that lack economies of scale but are
kept open «due to urban traffic constraints and community needs;» many students need extra services because they have learning problems or disabilities, don't speak English fluently or come from poverty; and the district has a large unfunded
pension liability with growing obligations.
If you've read this far, we hope you
keep coming back for more information on
teacher pensions as we continue to write and blog about the issue.
Moreover, if we care about
keeping veteran
teachers, then we should be concerned about the much larger «push - out» effect that
pensions have on
teachers who reach the normal retirement age.
Further, even those early childhood
teachers who are eligible to enroll in a traditional
teacher pension plan are still unlikely to benefit from the rewards promised — their tendency to be lower - paid and more mobile
keeps them from reaping the back - end rewards of a state plan.
It's understandable that as a trade group representing large
pension plans, the NPPC doesn't want to have a conversation about why public - sector retirement plans like those offered to
teachers are getting worse over time, while those offered in the private sector
keep getting better.
A year ago, we released The
Pension Pac - Man: How
Pension Debt Eats Away at
Teacher Salaries, which showed that, over the last 20 + years, teacher salaries have not kept up with inflation, but total teacher compensati
Teacher Salaries, which showed that, over the last 20 + years,
teacher salaries have not kept up with inflation, but total teacher compensati
teacher salaries have not
kept up with inflation, but total
teacher compensati
teacher compensation has.
In brief,
pension plans do appear to exert a limited «pull» effect that
keeps some late - career
teachers on the job (remember, most
teachers have left before then).
Moreover, extremely high (and rising)
pension costs have played a role in
keeping teacher salaries flat in recent years, and those costs have also contributed to large cuts in
pension benefits for new
teachers.