Not exact matches
Using data on
contributions from NASRA and
pension fund annual reports where necessary, and using weights based on the number of
teachers employed in each state or district as reported in the NCES Common Core of Data, it is possible to compute average employer
contribution rates for
teachers.
In order to pay down the current debt, the state increased
pension contribution rates that are deducted from a
teacher's paycheck.
A career educator can work and pay into the retirement system with lower
teacher or principal
contribution rates for the majority of their working years and still qualify for a
pension for the rest of their life based on their much higher superintendent's salary.
Example A is Pennsylvania, which recently announced they will be increasing the employer
contribution rate for retired
teacher pension and health benefits in 2010 - 11 by 72 percent over current levels.
And with the nationally fixed employer
contribution rate of 16.4 per cent for the
Teacher Pension Scheme also expected to rise, school leaders are warning more cost - cutting measures may be on the cards.
Due to different decisions in state legislatures,
pension rules vary from state - to - state, leading to different vesting periods, variation in
teacher contribution rates, and differences in benefit quality.
Government changes to the discount
rate (a
rate of interest used to value the
Teachers»
Pension Scheme) mean that even though the scheme benefits have been cut and employee
contributions increased, employer
contributions have risen from 14.1 per cent to 16.4 per cent.
In its research report, the Fordham Foundation uses the PSERS system's projections of future
contribution rates to estimate what Philadelphia's school system will need to pay in coming years to adequately cover its obligations within the state's
teacher pension funds.
Last week the New York State
Teachers» Retirement System (NYSTRS), which provides a defined benefit pension plan to public school teachers and administrators outside of New York City, announced it was raising the required employer contribution rate * from 16.25 to 17.53 percent of
Teachers» Retirement System (NYSTRS), which provides a defined benefit
pension plan to public school
teachers and administrators outside of New York City, announced it was raising the required employer contribution rate * from 16.25 to 17.53 percent of
teachers and administrators outside of New York City, announced it was raising the required employer
contribution rate * from 16.25 to 17.53 percent of payroll.
That is, higher
contribution rates offset any gains a new
teacher might make from the
pension enhancements.
The authors found that a new
teacher would actually have been better off without the
pension enhancements because of the
contribution rate increases.