While it is generally understood that defined benefit pension systems concentrate benefits on career teachers and impose costs on mobile teachers, there has been very little analysis of the magnitude of these effects. The authors develop a measure of implicit redistribution of pension wealth among teachers at varying ages of separation. Compared…

This policy brief summarizes findings presented at a February 2009 research conference on teacher retirement systems hosted by the National Center on Performance Incentives (NCPI) at Vanderbilt University's Peabody College. The 2009 conference was the second in a series of NCPI events focusing on findings from recent research on issues related to…