Sentences with phrase «teacher retirement security»

This translates to cheaper costs for the state, but at the price of teacher retirement security.

Not exact matches

However, unlike the typical teacher pension, your Social Security retirement check is based on 35 years of earnings, not the highest two or three years.

Some of the higher cost of employer retirement plans for teachers is offset by lower employer contributions for Social Security benefits.

In contrast, most teacher pension plans have more rigid retirement rules than Social Security and also push out teachers at younger ages.

Pushing workers out at the normal retirement age is a defining feature of all defined - benefit plans (including Social Security), and the ones states offer to teachers are no exception.

Worse, the story they tell about the retirement security offered to our nation's public school teachers is dangerously wrong.

We think that's an unacceptable approach to retirement policy for a field as populous and important as teaching, and it's disappointing that people who claim to be advocates for teachers don't also recognize what a retirement security problem this is for millions of American teachers.

Teachers can benefit by diversifying their streams of retirement income, one of which should include Social Security.

In particular, Social Security could provide a floor of retirement security for early career teachers who often leave the system with Security could provide a floor of retirement security for early career teachers who often leave the system with security for early career teachers who often leave the system with nothing.

The National Education Association describes Social Security as the «cornerstone of economic security,» and Randi Weingarten, President of the American Federation of Teachers, describes it as «the healthiest part of our retirement system, keep [ing] tens of millions of seniors out of poverty [which] could help even more if it were expandedSecurity as the «cornerstone of economic security,» and Randi Weingarten, President of the American Federation of Teachers, describes it as «the healthiest part of our retirement system, keep [ing] tens of millions of seniors out of poverty [which] could help even more if it were expandedsecurity,» and Randi Weingarten, President of the American Federation of Teachers, describes it as «the healthiest part of our retirement system, keep [ing] tens of millions of seniors out of poverty [which] could help even more if it were expanded.»

States can and should improve their own retirement benefit offerings to teachers, but this still won't replace Social Security.

So it's disappointing that Weingarten did not use this opportunity to call for retirement security for all public school teachers, our largest group of college - educated, middle - class workers.

Social Security can't replace teacher pensions but it should be one leg of a successful — and portable — retirement stool for teachers.

Rather than cast aspersions and demagogue the issue, teachers need leaders willing to have courageous conversations about how to modernize and improve retirement security for all of our nation's teachers.

Further, the CB plan does not redistribute retirement compensation away from teachers who leave after, say, five, ten, or 15 years to teachers who work under the same plan their entire careers, an effect that in many systems would likely help more people reach retirement security.

If retiring teachers spend their last day on the job in a position covered by Social Security, such as janitorial or clerical work, they can get around limitations on federal retirement aid earned through their spouses and really clean up.

Cross, president of the Council for Basic Education and a former assistant U.S. secretary of education in the Bush administration, added that waiving the cap on retirement earnings for teachers would allow retirees to get back into the classroom and still collect Social Security.

That policy will disadvantage huge numbers of DCPS teachers and endangers their retirement security.

Add in the greater differential in job security for US teachers vs US private industry, earlier retirement, less working hours and I doubt there is much if any real discrepancy.

For a state that opts out of Social Security, at the very least, one would expect that they offered teachers sufficient retirement benefits for each year of work.

According to the most recent national estimates, 30 percent of state and local government employees, many of whom are teachers, are not covered by Medicare because they do not belong to the Social Security program and rely on an independent retirement health - care plan.

Teacher pension plans are already in bed with Wall Street; the «retirement security crisis» narrative ignores data showing that elderly Americans are doing better and better; today's defined benefit pension plans just don't work that well for most teachers; and the costs of today's pension plans are enormous and are affecting schools and other public services.

As much as we here at Teacherpensions.org would like to shift the conversation to whether or not those pension plans are providing adequate retirement security to all teachers — they generally are not — the reality is that state legislators are much more focused on these large budgetary pressures than they are on retirement benefits for individual teachers.

And unlike a system like Social Security, which awards lower - paid workers with proportionately higher retirement benefits, teacher pension systems lack these kinds of protections.

Given that some financial experts usually recommend savings rates of about 15 percent to 20 percent for retirement security, teachers who take a refund may be under - saving.

We think all teachers should be given the retirement income protection that Social Security offers.

Two, Louisiana teachers are not enrolled in Social Security, meaning they're particularly vulnerable to a poor retirement system.

Further, in another paper from Goldhaber and Grout, they found that Washington's hybrid plan did not harm teacher quality or retirement security.

The following report analyzes the changes states have made over time, and how those changes impact the retirement security for our nation's public school teachers.

Placing all teachers in Social Security, while also providing teachers with adequate state - sponsored retirement plans, would enable more teachers to be prepared for retirement.

While teachers pay only 5 percent of their salaries into the PSRS — far lower than the 14 percent paid by teachers in the statewide plan — they also pay Social Security payroll taxes, unlike peers in the state retirement system, who do not participate in Social Security.

Lincove added that charter leaders worried about teachers not viewing it as a long term career should «think systematically about what kinds of long term retirement benefits and long - term job security might need to be offered to avoid this.»

Unlike the old plan, the hybrid plan provides greater retirement security for teachers who teach for twenty years or less, while still providing comfortable retirements for teachers with more service time.

Yet, for teachers who earned full Social Security benefits while working at another career, their teacher retirement benefits will be reduced if we collect our earned Social Security benefits.

Because teachers in Nevada do not participate in Social Security, they have no fully portable retirement benefits that would move with them in the event they leave the system.

Vested teachers will receive their benefit payments later, but non-vested teachers who leave are not entitled to any funds and will have accumulated no mandated retirement savings at all because they do not participate in Social Security.

Back in September I put a piece up at This Week in Ed about teacher pension reform: In other words McGee and Winters are proposing sacrificing educators» retirement security to achieve a system that is in some respects more fair and — perhaps — educationally more efficient.

Philly teachers also receive Social Security (about a third of state and local government workers don't), so the total contribution by the Philly schools system to retirement costs is actually 29 percent of salary.

Eighty - five percent of Colorado teachers and other school employees will leave public employment with insufficient retirement savings and no Social Security benefit for that work.

The subsequent reality: many teachers not covered by Social Security are left with inadequate retirement savings from their time in the classroom.

The benefits of that approach, the authors argue, is that SA - DB plans wouldn't necessitate higher taxes and could mean greater retirement security for more teachers.

Social Security is not sufficient as a stand - alone retirement program, but case studies from three hypothetical teachers of varying experience levels show that teachers of all experience levels would benefit from Social Security coverage as one component of a comprehensive retirement plan.

Teachers without Social Security coverage face substantial uncertainty and must rely more heavily on their employer retirement plans (state pensions) and personal savings.

Not only are teachers being paid benefits by the state well before Social Security's retirement age, but these provisions, along with the state's early retirement with reduced benefits based on years of service, may also encourage effective teachers to retire early.

Hawaii's pension system is based on a benefit formula that is not neutral, meaning that each year of work does not accrue pension wealth in a uniform way until teachers reach conventional retirement age, such as that associated with Social Security.

However, vested teachers who entered the system prior to this date may retire with unreduced benefits at age 60 or 62, depending on their date of entry, which means that teachers are receiving unreduced retirement benefits well before Social Security retirement age.

Vested teachers who became members of the system on or after June 28, 2011, may retire at age 65, which is almost aligned with Social Security retirement age.

And the reality of comparatively low salaries and minimal retirement benefits in many school districts coupled with the fact that most teachers are not covered under Social Security has implications for stability and longevity in the teacher workforce overall.

Even among Iowa teachers who make it to age 55, the state assumes only about 3 percent will make it all the way to age 65 (the normal retirement age for Social Security).

That's a fundamentally flawed way to look at retirement security, because it discards large numbers of former teachers and ignores the basic facts about how individual teachers accrue benefits over time.