What's more, there is no evidence that
teacher pensions raise teacher quality overall.
Not exact matches
Teachers are already paying more, the normal
pension age has been
raised to 65 for new entrants and employer contributions have been capped.
But School districts face rising costs for employee health care,
pensions and annual longevity, or «step»
raises for
teachers that are built into most union contracts.
Compounding the rising generosity of
pension benefit formulas is the decline of interest rates on low - risk investments, which
raises the cost of providing
teachers with a fixed, guaranteed
pension benefit.
MichaelPetrilli That's because Joel and Randi agreed to unaffordable
raises and
pension deals for
teachers.
Legislators
raised teacher contributions to the
pension plan from 8 percent of salary to 14.5 percent today.
It also
raises the question of why
teacher pension plans are invested in hedge funds at all.
In this paper, authors Marguerite Roza and Jessica Jonovski model the impacts of late - term
raises on
teacher pension obligations showing that on average each dollar
raise triggers $ 10 to...
Teachers» Pensions and the Overgrazed Commons On March 26, 2015 Governing published this commentary by Marguerite Roza and Michael Podgursky on how big raises to teachers nearing retirement is a recipe for letting pension debt get out of
Teachers»
Pensions and the Overgrazed Commons On March 26, 2015 Governing published this commentary by Marguerite Roza and Michael Podgursky on how big
raises to
teachers nearing retirement is a recipe for letting pension debt get out of
teachers nearing retirement is a recipe for letting
pension debt get out of control.
On the whole,
teachers across the nation have strung together an impressive series of victories, including salary
raises,
pension reforms, and school funding increases.
The city agreed in the 1980s to indefinitely pick up most of the
teachers»
pension costs in exchange for lower pay
raises.
These required
pension contributions will likely constrain the district from spending money on anything else, including field trips, classroom supplies, extra services for high - need students, technology, and
raises, which is unfortunate because our
teachers remain underpaid compared to the average across Alameda County school districts.
The authors examine the link between
teachers»
pension incentives and workforce quality and find no evidence to suggest that the incentives
raise quality.
Following a 13 - day statewide strike among West Virginia
teachers last month which culminated in an across - the - board 5 percent
raise,
teachers in Arizona have conducted a series demonstrations demanding higher pay, while Kentucky
teachers have rallied to protest proposed cuts to their
pensions.
The
pension contribution offset some past pay
raises for Madison
teachers.
Claypool, however, noted that
teachers would get
raises under the rejected contract proposal, and contended that even with the
pension pickup phaseout, they would come out ahead.
This finding reinforces what officials with the Milwaukee
teachers union had long argued, that the prospect of future «step»
raises and
pension plans helped the school district to retain younger
teachers.
With an average salary of $ 76,000 (not including employee benefits or
pensions), Chicago
teachers were already among the highest paid in the nation and the new deal included a 7 percent
raise over three years, with additional
raises for experience and education.
Meanwhile year - long exposes by newspapers such as the Sacramento Bee into the high cost of so - called
pension spiking, or the practice of allowing
teachers and bureaucrats nearing retirement to get double - digit pay
raises in their final years of work in order to gain even fatter
pensions, has also led to a state investigation, once again reminding families that they pay the price for 3,090
teachers (as of 2010) getting more than $ 100,000 annually in
pension annuities.
In Kentucky, a battle over educators»
pension benefits has
raised the possibility of a
teachers» strike there, too.
That includes $ 10 million from
raising the bottle tax from 2 cents to 5 cents, $ 12 million in savings from a recalculation of the
teacher pension plan, and $ 1.6 million in revenue from a planned slots casino.
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.
For example, a
teacher in Iowa, a state with strong fiscal health and a substantial surplus, recently discovered that her
pension contributions were recently
raised to cover a multi-billion dollar shortfall in the state's
teacher pension fund.
Late - career
teacher salary
raises can dramatically affect state unfunded
pension liabilities
These numbers are rising and moving to the right of the graph; during the recent recession, 12 states made it more difficult for
teachers to qualify for a
pension by
raising their vesting requirement.
The unions want
teacher raises and no changes to
pensions, but the city is broke and facing massive budget shortfalls.
Without
pension debts, states could
raise salaries enough that
teachers wouldn't need to spend their free hours waitressing or driving for Uber.
Here is a late entry for consideration: a study out of Georgetown examining the impact on
pension obligations of substantial, late - career
raises for
teachers.
This fight over
teacher pension funding
raises an important philosophical question: Does money spent on
teacher retirement count as education funding?
Our sober policy analyses have attemped to
raise the alarm about how rising
pension costs are affecting
teachers and students, but perhaps nothing presents it in starker fashion than seeing the potential cuts to school district services.
Later this week the board of the California State
Teachers Retirement System, or CalSTRS, will forward to the Legislature a report laying out options for
raising higher contributions into the
pension system to ensure its long - term viability.
It's a double whammy for classroom
teachers because
teachers will be required to increase their
pension contributions, eroding whatever
raise the union negotiates with the district, and the additional dollars districts spend on
pension debt are dollars that can't be spent elsewhere.
Another word regarding Edison Learning (pg 13 of your report): Jeb Bush used the Florida
teacher pension money to bail out Edison, a company that never succeeded in what it said it could do:
raise student scores for less money: