The value of pension benefits varies widely, by a teacher's age of entry and exit. This variation is masked by the uniform rate of annual contributions, as a percent of pay, to fund benefits for all. For the first time, we unmask that variation by calculating annual costs at the individual level. In California, we find that the value of a…

Since 1980, Michigan retirees have been afforded health care benefits for which they were required to pay 10 percent of the premium upon retirement--the remainder was paid for by the state. Recently, the Michigan Legislature reduced the financial obligation of the State for retiree health care benefits, placing it on the individual member. In…

The ongoing global financial crisis is forcing many employers, from General Motors to local general stores, to take a hard look at the costs of the compensation packages they offer employees. For public school systems, this will entail a consideration of fringe benefit costs, which in recent years have become an increasingly important component of…

Most public elementary and high school teachers are covered by health insurance provided by their employer while they are employed. In most cases, these health plans are managed at the state level. At retirement, teachers with sufficient years of service are allowed to remain in the health plan. Retiree health plans for teachers vary widely across…

Some superintendents and school board members tout early retirement plans as a way to reduce school personnel costs and offer attractive employee benefit at the same time. However, such plans are not always a sound idea. Potential benefits depend on a district's financial outlook, its staffing structure, and its goals for students. (MLH)

With health insurance costs soaring for both current employees and retirees, governing boards of institutions of higher education must contain costs. Possible strategies include shifting some expenses from employer to employee, establishing flexible-benefit or cafeteria plans, using managed care to reduce unnecessary medical procedures,…

Long-term disability income coverage is seen as the most rapidly growing staff benefit in recent years. A Teachers Insurance and Annuity Association's survey of existing long-term disability plans, which provide adequate income replacement, is discussed. (MLW)

A preliminary investigation was done of the effect of the elimination of mandatory retirement of tenured faculty in higher education and the estimated costs of providing faculty benefits and inducements in a future without mandatory retirement. The study developed a classification system of possible benefit packages including the following: (1)…

This article explains why college faculty benefit by taking large portions of their compensation in fringe benefits, presents data showing trends in the provision of fringe benefits to college and university employees, and suggests that academic supply and demand conditions during the 1990s may lead to resumption of the upward trend in…

This paper looks at the three employee benefit items that are most costly for employers--retirement programs, Social Security/Medicare contributions, and major medical insurance coverage--to estimate the costs of these benefits in school districts in the 15 states of the Southern Regional Education Board (Alabama, Arkansas, Florida, Georgia,…

Results of the ninth biennial survey of 585 colleges and universities concerning expenditures for employee retirement and insurance benefits for 1993 are reported. Data are presented primarily in tabular form, with some narrative. A summary of survey highlights is included. Sample findings included: weighted average employer expenditure for…