Background: Despite being an important component of teacher compensation, government-sponsored teacher pensions are only 72 percent funded on average and have total unfunded liabilities exceeding $600 billion nationally (McGee, 2019; Novy-Marx & Rauh, 2011; "Public Plans Data," 2020). Annual per pupil teacher retirement costs account…

In "Are Texas Teacher Retirement Benefits Adequate?," authors Chad Aldeman and Anthony Randazzo analyze the Teachers' Retirement System (TRS) of Texas and find it is not serving all of its members well. Most members will leave their teaching service in Texas with inadequate retirement benefits, and the unfunded liabilities the system has…

School districts and state education systems across the country are in the midst of an increasingly challenging fiscal environment. In many states, funding for K-12 education remains below pre-recession levels in what has been called a "punishing decade for school funding" (Leachman et al., 2017), despite efforts in recent years to…

Pensions have been at the forefront of recent debates over teacher pay, but the issues are complicated and political. As such, this document is an attempt to inform readers about how pension plans work for the 90 percent of public school teachers enrolled in them. Using objective data and analysis, we explain how teachers earn benefits in those…

In laying out policy priorities in their 2020 State of the State addresses, governors recognized the role the public education system plays in supporting strong economies. Often citing the need to align education with the 21st century's knowledge economy, governors agreed that a high-quality education is the key to both an individual's and the…

In 2013 California adopted a new watershed state finance policy, the Local Control Funding Formula (LCFF) to drive more resources to students with higher needs, create more spending flexibility, and let districts decide how to spend substantial new dollars. Our analysis examines financial data from nearly all California school systems to clarify…

Challenging the claims of pension boards and other groups about the cost-effectiveness, fairness and flexibility of the traditional defined benefit pension plans still in place in 38 states, this report includes a report card on each of the 50 states and the District of Columbia, with a detailed analysis of state teacher pension policies, and…

This report, which has been developed through a partnership between the African Union Commission (AUC) and UNICEF, aims to: (1) track the progress that African nations have made in education, especially in relation to Sustainable Development Goal 4 (SDG4) and the Continental Education Strategy for Africa (CESA) goals; (2) identify the challenges…

Experts know that effective teachers are central to quality early care and education. It is no surprise, then, that many quality improvement efforts have focused on increasing education requirements for teachers and bolstering access to professional development and training. However the United States continues to pay most early childhood educators…

The dynamics of state funding for public higher education in the United States are changing. Per-student state appropriations to higher education have decreased over the past few decades and have become increasingly volatile from year to year. As public higher education institutions seek ways to educate more students with fewer and less…

Community and technical colleges (collectively referred to as associate's institutions throughout this brief) serve an important role in the U.S. higher education system. They are often an option for students who: (1) need skills development, an associate's degree, or training for specific jobs in their community; (2) need a more affordable…

As public budgets have grown tighter over the past decade, states and school districts have sought ways to control the growth of spending. One increasingly common strategy employed to rein in costs is to offer experienced teachers with high salaries financial incentives to retire early. Although early retirement incentive (ERI) programs have been…

A year ago at ASBO International's Annual Meeting and Expo in Seattle, Washington, school business officials from four states presented a powerful double-session panel on the status of changes in teacher contracts and educational funding in their regions of the country. The presenters have since updated their comments with new information and…

President Barack Obama is putting new money to save educators' jobs and help states refurbish aging school facilities at the center of a nearly $450 billion plan to jump-start the sluggish economy. The author talks about the president's plan which is sure to face hurdles in a politically polarized Washington where one house of Congress is…

This policy brief offers informed advice to school districts seeking to provide a well-rounded, quality education to all children in a time of strained budgets. The author recommends three strategies: (1) Prioritize both achievement and cost-efficiency: Allocating scarce resources effectively means funding what works and obtaining ample…