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…

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…

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. Teacher pensions, in particular, pose two challenges. The first is that political incentives invite irresponsible fiscal stewardship, as public officials make outsized short-term commitments to…

The financial state of the nation's public pension funds--which provide the retirement incomes for all state employees but in most states are dominated by teachers, administrators, and other school employees--has gone from bad to worse, and is projected to continue to worsen in coming decades. A perfect storm of factors has combined in the past…

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…