Teachers and other employees of the School District of Philadelphia receive their retirement benefits from the Pennsylvania state retirement plan for schools, which includes both a defined-benefit pension plan and a modest retiree health benefit. The cost of the former is expected to rise quite substantially and, as this technical analysis will…

At first glance, the recent teacher-retirement reforms in Ohio seem to bring good fiscal news to school systems in the Buckeye State. With Senate Bills 341 and 342--and a series of cutbacks on retiree healthcare--the Cleveland Metropolitan School District is projected to spend less on retirement costs in 2020 than it does today. But these reforms…

Panama has achieved socio-economic improvements in recent decades thanks to strong economic growth and consequent poverty reduction. Its growth model is characterised by a dual economy in which a small number of activities, including those related to the Canal and Special Economic Zones, have exhibited high productivity growth but limited job…

This report provides an overview of the financial health of the Higher Education Funding Council for England (HEFCE) funded higher education sector in England. The analysis covers the financial results for 2015-16. This does not include further education or sixth-form colleges, or alternative providers of higher education.

This report examines how the two global mega-trends of population ageing and rising inequalities have been developing and interacting, both within and across generations. Taking a life-course perspective the report shows how inequalities in education, health, employment and earnings compound, resulting in large differences in lifetime earnings…

The Great Recession officially ended in June 2009. However, the labor market has made agonizingly slow progress toward a full recovery, and the slack that remains continues to be devastating for workers of all ages. The weak labor market has been, and continues to be, very tough on young workers. Though the labor market is headed in the right…

This report documents differences in the earnings and employment patterns of U.S. adults with different levels of education. It also compares health-related behaviors, reliance on public assistance programs, civic participation, and indicators of the well-being of the next generation. In addition to reporting median earnings by education level,…

This report is part of a series of reports that provides information on the structure, function, finances, taxation, employment, and pension systems of the United States' approximately 90,000 state and local governments. This report presents data on state and local government employment and payroll based on information collected by the 2013 Annual…

This instructional tool draws a linkage between the journal entries required to record the activity of a defined benefit pension plan and the disclosures required under authoritative guidance. The quarterly and year-end adjusting entries are presented and linked to the financial statements and supplemental financial disclosures. These entries…

This report documents differences in the earnings and employment patterns of U.S. adults with different levels of education. It also compares health-related behaviors, reliance on public assistance programs, civic participation, and indicators of the well-being of the next generation. Financial benefits are easier to document than nonpecuniary…

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…

According to the National Bureau of Economic Research, the Great Recession began in December 2007 and ended in June 2009. With a duration of eighteen months, this recession was almost double the length of the average post-World War II economic downturn. Although the worst recession since the Great Depression is now technically over, this analysis…

The tension at the heart of pension politics is the incentive to satisfy today's claimants in the here-and-now at the expense of long-term concerns. Rules and auditing standards are intended to tame this kind of short-sighted behavior in the private sector. In the public sector, the primary safeguard is the hope that public officials will not be…

In response to a journalist inquiry regarding research on funding of Ohio's teacher retirement system and its effect on school district finances, this analysis by the Thomas B. Fordham Institute points to serious questions and profound concerns about the health of Ohio's teacher pension system, and that similar time bombs may be ticking in other…

The most widely used pension plans in the United States are defined-benefit plans under which employers pay workers a fixed pension, usually a percentage of their final salaries. Defined-contribution pension plans, under which employers and employees set aside funds that are invested for the employees, are growing in popularity and are…