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 features and patterns of variation between states. The authors develop a measure of implicit redistribution of pension wealth among…

Policy discussions about teacher quality and teacher "shortages" often focus on recruitment and retention of young teachers. However, attention has begun to focus on the incentive effects of teacher retirement benefit systems, particularly given their rising costs and the large unfunded liabilities. In this paper we analyze accrual of…