In this brief, we examine an important but obscure form of state spending on K-12 education-state subsidies of school district pension costs. In 2018, this exceeded $19 billion across 23 states. To put that amount into perspective, 2018 federal spending on Title I programs was $15.8 billion. This revenue stream is often ignored in analyses of…

Today, nine out of 10 Americans age 65 and older depend on Social Security benefits to lead a comfortable and secure retirement. Among all Americans over age 65, Social Security makes up more than half of their household income. This brief outlines the history of Social Security benefits in the public sector, describes the safe harbor rule and how…

On February 24, 2017, all of the authors of the state-of-the-state manuscripts published in the "Journal of Education Finance" met in Cincinnati, Ohio, to participate in a roundtable discussion focused on recent legislative actions in 38 states. A majority of those papers were revised to reflect a final report on legislative actions…

A recent survey of 41 different state boards of education revealed that officials from 28 states indicate that they are experiencing teacher shortages. The shortages in some states are significant. While the teacher shortage in many states is tied to different factors, one frequently cited reason for leaving the teaching profession is low pay.…

Teacher pensions consume a substantial portion of school budgets. If relatively generous pensions help attract effective teachers, the expense might be justified. But new evidence suggests that current pension systems, by concentrating benefits on teachers who spend their entire careers in a single state and penalizing mobile teachers, may…

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…

Defined Benefit pension plans often generate odd time patterns of benefits. One typical pattern exhibits low accrual in early years, accelerating in mid-late years, followed by dramatic decline, or even negative returns in years that are relatively young for retirement. We consider four states for specific analysis: Arkansas, Missouri, California…

This paper is about the funding status of teachers' retirement pension schemes. Its goal is to relate the accounting for the funding of these pension obligations to the endemic, systematic, and fundamentally fraudulent system of accounting our country uses to assess the financial positions of federal, state, and local government as well as many…

Defined Benefit pension plans often generate odd time patterns of benefits. One typical pattern exhibits low accrual in early years, accelerating in mid-late years, followed by dramatic decline, or even negative returns in years that are relatively young for retirement. We consider four states for specific analysis: Arkansas, Missouri, California…

This proceedings document discusses academic leadership in uncertain times, the need for a cooperative model of collective bargaining to provide administration and faculty the flexibility required to respond to changing times, who should bargain for whom and for what, readiness of the next generation to lead, and retirement issues for college…

Asset development is an emerging approach to promoting self-sufficiency for low-income workers. By promoting and rewarding savings, asset development strategies encourage individuals to set long-term economic goals. Asset development strategies can accomplish the following objectives: (1) give low-income workers the knowledge required to navigate…