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…

After years of non-stop increases--national k-12 per-pupil spending is up by "one-third" in inflation-adjusted dollars since 1995--schools now face the near-certainty of repeated annual budget cuts for the first time since the Great Depression. In some states and districts, reductions will be dramatic--well into the double digits. And…

For each of the past 10 years, the Center for the Future of Teaching and Learning has issued a report on the status of California's teaching force based on research conducted by SRI International. The Center provides practical information to help policymakers and education leaders understand the challenges they face is provided. Context, clarity…

The report highlights the differences among California counties and regions in their use of under-prepared teachers and their needs for new teachers in the coming decade as driven by projected student enrollment changes and teacher retirements. The analyses, based on expected teacher retirements and student enrollment growth, suggest that…

This paper examines late career mobility and retirement decisions for a cohort of mid-career Missouri public school teachers. Specifically, the paper follows a cohort of teachers whose combined age and experience totaled 45 or more years in fall 1991 through the 2005-06 school year. Like many public employee pensions, Missouri has a system that…

It is commonly believed that teacher turnover is unusually high and that this is a sign of failure in the education system. Previous studies have tested this idea by comparing teacher turnover with that of similar professions, but have come to contradictory conclusions. We provide additional evidence by comparing teachers with professionals from…

Pensions are an important but comparatively unexamined component of human resource policies in education. In an increasingly competitive world where employees are more mobile than ever, pension policies that were designed in the last century may be out of step with the needs of both individuals and schools. This background paper aims to foster…

Like most other state and local government employees, teachers participate primarily in defined benefit pension plans whose benefits are based on final average salaries and length of service. Such pensions have been replaced in many private sector firms by defined contribution pensions. A number of questions have arisen about the feasibility and…

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 tension at the heart of pension politics is the incentive to address today's claimants and focus on the here-and-now at the expense of long-term concerns and more dispersed constituencies. In the private sector, rules and regulations seek to tame corner-cutting and short-sighted behavior. In the public sector, the primary safeguard is the…

This paper examines the pattern of incentives for work versus retirement in five state teacher pension systems. We do this by examining the annual accrual of pension wealth from an additional year of work over a teacher's career. Accrual of wealth is highly nonlinear and heavily loaded at arbitrary years that would normally be considered…

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…

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…

Educational leaders are often asked how to reduce the alarming percentage of new teachers who leave the profession when their careers have barely started. But an equally important question--and one that is rarely addressed--is, What can be done to keep effective veteran teachers from retiring when schools need their wisdom, insight, and maturity?…

Examines the predictable stages in the career development of a vocational educator. Stage one covers adjustment to new situations; stage two focuses on acquiring continuing employment status; stage three (mid-career) often includes career crisis; stage four includes both security and lack of personal challenge; and stage five is retirement. (CT)