Retirement plans can create strong financial incentives that have important labor market implications, and many states have adopted alternative plan designs that significantly change these incentives. The authors use longitudinal data to investigate the impact of Washington State's 1996 introduction of a hybrid retirement plan on late-career…

State and local government decisions about how school funding is raised and allocated have profound impacts on American public education, and in recent years, experts have documented large increases in one type of spending in particular: public pensions. Because most data on school district pension expenditures are at the state level, it has so…

This study examined the association between financial literacy and the decision to withdraw funds from different types of retirement accounts before retirement. Data from the 2012 and 2015 National Financial Capability Study were used to investigate if financial literacy may potentially influence the decision to dissave from funds already set…

Teacher vacancies have been a long-standing issue in U.S. public schools, only made worse by the COVID-19 pandemic. Vacancies tend to be concentrated in high-poverty, high-minority schools and hard-to-staff subjects like special education and STEM. States have implemented various policies to decrease turnover, including offering teachers bonuses…

Adequately preparing for retirement requires planning and knowledge about available savings and investment options. Teachers participate in a complex set of plan designs, and many do not participate in Social Security. While teachers represent a large part of the public workforce, relatively little is known regarding their knowledge and…

Direct support professionals (DSPs) provide a range of supports in a variety of settings to people with intellectual and developmental disabilities (IDD) who count on these supports to live, work, and contribute in their communities. Despite this, high annual DSP turnover rates are problematic. DSP turnover is disruptive to people who receive…

Defined benefit (DB) pension plans incentivize "salary spiking," where sharp increases in pay are leveraged into significantly higher levels of retirement compensation. While egregious instances of salary spiking occasionally make headlines, there is little guidance on the definition of salary-spiking behavior or understanding of its…

Adequately saving for retirement requires both planning and knowledge about available retirement savings options. Teachers participate in a complex set of different plan designs and benefit tiers, and many do not participate in Social Security. While teachers represent a large part of the public workforce, relatively little is known regarding…

The COVID-related financial market decline and economic recession have raised new concerns regarding the financial sustainability of retirement plans for state and local government employees, the largest group of whom is public school teachers. Using data from the Public Plans Database and the National Income and Product Accounts, I analyze…

In this research, we explore responsible investing in Canadian Universities. Interviews were conducted with 31 universities that were identified as having endowments or pension portfolios greater than $50M. We also reviewed publicly available data for these institutions. Universities reported facing numerous barriers but perhaps most noteworthy…

Over the last two decades, twenty-two states have moved away from traditional defined benefit (DB) pension systems and toward pension plan structures like the defined contribution (DC) plans now prevalent in the private sector. Others are considering such a reform as it is seen as a means of limiting future pension funding risk. It is important to…

How much do teachers value compensation that is deferred until retirement? This question is important because the vast majority of public school teachers are covered by defined benefit (DB) pension plans that "backload" a large share of compensation to retirement relative to the compensation structure in the private sector. There is…

The Universities Superannuation Scheme (USS) was founded in 1975, when it replaced an outdated set of pension arrangements for university staff. The USS was stable for nearly four decades but, in recent years, it has undergone considerable turbulence. The causes include tighter pension regulations, growing life expectancy and lower financial…

Background: Despite being an important component of teacher compensation, government-sponsored teacher pensions are only 72 percent funded on average and have total unfunded liabilities exceeding $600 billion nationally (McGee, 2019; Novy-Marx & Rauh, 2011; "Public Plans Data," 2020). Annual per pupil teacher retirement costs account…

The study investigated the influence of retirement counselling on retirement plan among civil servants in Ekiti State. The study specifically examined the level of retirement counselling among civil servants; the level of retirement plan among civil servants; and the relationship between retirement counselling and retirement plan among civil…