Public school teachers retire much earlier than comparable professionals. Pension rule changes affecting new teachers can be used to close this gap in the long run, but any effects will not be observed for decades and the implications for workforce quality are unclear. This paper considers targeted incentive policies designed to deter retirement…

A vast research literature is devoted to analyzing causes of and potential remedies for early-career teacher attrition. However, much less attention has been paid to late-career attrition among experienced teachers, which is driven primarily by retirement plan incentives. Although there is some variation across states, it is generally the case…

Teacher pension systems concentrate retirements within a narrow range of the career cycle by penalizing individuals who separate too soon or remain employed too long. The penalties result in the retention of some teachers who would otherwise choose to leave, and the premature exit of some teachers who would otherwise choose to stay. We examine the…

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…

Pensions have long been an important part of compensation for teachers in public schools. However, the incentive structures of teacher pension systems are not widely understood, even though they can have powerful effects on the composition of the teaching force and on public finance. In their research, the authors have found that teacher pension…

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…

Salaries and benefits for instruction are the largest component of school operating costs for public schools (U.S. Department of Education 2007). The level and structure of this compensation can play an important role in the recruitment and retention of a high-quality teaching workforce. Thus, detailed and reliable data on teacher pay and benefits…

Many states are struggling to finance under-funded teacher pension systems as well as recruit and retain a high-quality teaching workforce. This paper compares Maryland's former (prior to Spring, 2006) teacher pension system to those in Pennsylvania and several other states. On the basis of simple replacement rates, the former Maryland state plan…

In the flurry of activity surrounding the implementation of No Child Left Behind's (NCLB) student proficiency mandates, the federal requirement to have a "highly qualified" teacher in every classroom by 2005 seemed like an impossible goal. However, 2005 has come and gone and the highly qualified teacher crisis never happened. In this…

In school finance lawsuits plaintiffs often claim that pay levels are not sufficient to recruit teachers who can deliver constitutionally-mandated levels of educational services. In this paper I consider several ways in which one might bring economic theory and data to bear on that question. I conclude that at present, and at least for the near…