Currently, higher education is being roiled by class-action lawsuits filed against high-profile institutions, including MIT, Yale and New York University, over management of their retirement plans. As the lawyers are deployed and the billable hours accrue, it is timely to examine how those who have responsibility for retirement plan…

"Budget of the United States Government, Fiscal Year 2013" contains the Budget Message of the President, information on the President's priorities, budget overviews organized by agency, and summary tables. The 2013 Budget contains a number of steps to put the country on a fiscally sustainable path. First, this Budget implements the tight…

This article examines the trend of faculty retirement in the United States. Much of the concern about aging faculty has centered on the twin concerns of lifetime employment in the form of tenure and the lack of a mandatory retirement age. However, as analysis shows, more attention should be paid to what will happen when older faculty…

There is significant interest in reforming retirement plans for public school employees, particularly in light of current market conditions. This paper presents an overview of the various types of state regulation of public pension plans that affect possibilities for reform. Several states have legal protections that effectively prevent a state…

Going directly from high school to college is not possible for everyone. Many who go to college will not do so straight out of high school, and many more need to work to pay for college. Good jobs for people without college degrees certainly still exist, although they are on a steady decline as computers and related technology take over routine…

For the last 25 years, American education has been trying to reform itself. This effort has been noble but only partially successful, and too often defined by an "either-or" dichotomy that has led to publicly defined "wars" over reading and math instruction, and even the very existence of the U.S. Department of Education. All…

As conceived by the Council for Adult and Experiential Learning (CAEL), Lifelong Learning Accounts (LiLAs[SM]) are employer-matched, portable individual accounts used to finance employee education and training. They provide employees with an affordable means of upgrading their skills and knowledge, while helping to meet the needs of employers and…

The teaching force in the United States is facing an impending crisis, one that Scherff (2008) describes as a "perfect storm," due to massive retirements, increasing impractical mandates related to the No Child Left Behind Act, and an alarmingly high teacher attrition rate. This unprecedented crisis in both the supply and retention of…

This year's "Quality Counts" report, the 15th edition of this annual report produced through the joint efforts of the "Education Week" newsroom and the Editorial Projects in Education Research Center, arrives at a time of continued fiscal anxiety and education policy ferment in the wake of what has been widely described as the…

Two proposals before Congress threaten to offset the delicate balance in pension plan design. The significance of the normal retirement feature in plan design, some possible program design changes, and how the pension arrangements of higher education institutions would be affected are discussed. (MLW)

Changes in retirement patterns at colleges and universities can be expected because of demographic reasons and because of federal and state legislation uncapping mandatory retirement. Institutional policies that will encourage reluctant older faculty to retire need to address the three fundamental components of successful employee retirement: (1)…

Almost thirty years ago, Justice William Brennan saw clearly that American higher education was coming under the same pressures to "cut costs and increase efficiencies" to which market forces were subjecting businesses. Since Justice Brennan's observation, employers generally have sought to maximize their "flexibility' by creating a…

"Straight A's: Public Education Policy and Progress" is a biweekly newsletter that focuses on education news and events both in Washington, DC and around the country. The following articles are included in this issue: (1) Duncan Makes $44 Billion in Education Funding Available to States: Education Secretary Says Stimulus Money Must Go…

There is in the United States an increasing interest in pensions for teachers. In several cities and States some form of pension system has been adopted. Public opinion on this subject is, however by no means unanimous. Many doubt the wisdom or justice extending to one class of public servants a consideration and help withheld from another class.…

The American Association of University Professors' Committee A on Academic Freedom and Tenure reports on possible results on faculty salary structure, the tenure system, and retirement options of legislation uncapping the mandatory retirement age of college faculty. Considerations for institutions to make in adjusting personnel policies are…