The COVID-related financial market decline and economic recession have raised new concerns regarding the financial sustainability of retirement plans for state and local government employees, the largest group of whom is public school teachers. Using data from the Public Plans Database and the National Income and Product Accounts, I analyze…

Public school teachers retire much earlier than comparable professionals. Pension rule changes affecting new teachers can be used to close this gap in the long run, but any effects will not be observed for decades and the implications for workforce quality are unclear. This paper considers targeted incentive policies designed to deter retirement…

This qualitative study examines the perceptions of current and former instrumental music educators regarding the reasons behind music teachers leaving the profession. The study aims to provide evidence to better understand these issues and their implications for educational leadership. By conducting semi-structured interviews with seven former…

How are teacher pension benefits funded? Under traditional plans, the full cost of career teachers' benefits far exceeds the contributions designated for them. The gap between the two has three pieces, which may (with some license) be mnemonically tagged the three R's of pension funding: "redistribution," "return," and…

In this research, we explore responsible investing in Canadian Universities. Interviews were conducted with 31 universities that were identified as having endowments or pension portfolios greater than $50M. We also reviewed publicly available data for these institutions. Universities reported facing numerous barriers but perhaps most noteworthy…

When policy advocates debate how best to ensure equity in public education funding, the topic of teacher pension reform rarely comes up. But, in fact, pensions represent a very large and fast-growing source of education spending, much of it distributed in ways that are, in a number of states, anything but equitable. When states subsidize teacher…

Understanding how the District of Columbia (DC) funds District of Columbia Public School (DCPS) students and DC public charter school students is essential to ensuring all students receive the support they need as COVID-19 pandemic-era federal funds expire. The recent rise in the Uniform Per Student Funding Formula (UPSFF) and the boost in the…

When pension benefits are not directly tied to contributions, some individuals may earn disproportionate returns on their retirement contributions. For instance, individuals who receive relatively larger late-career raises will receive disproportionately greater returns. For teachers, whose salaries are determined by salary schedules set by…

This is the executive summary for the full report, "Centering Quality, Centering Equity: Lessons Learned in Increasing Early Childhood Educator Credentials." Thriving communities depend on a strong early childhood education (ECE) system--one where both young children and members of the workforce are served and supported. In recent years,…

Many argue that public school systems should stop linking teachers' salaries so closely to their years of experience. However, the effect of deferred retirement compensation on the premium paid to experienced teachers has, to date, been underappreciated. To shed more light on this issue, we calculate the total compensation earned by teachers in…

Illinois' pension plans have sent the state on a downward spiral. One out of every four dollars that state taxpayers send to Springfield goes toward pensions, and the vast majority of these contributions go toward paying down large pension debt, not the actual retirement benefits given to state and local workers like teachers. The teacher pension…

Longitudinal administrative data generated by public education systems in the United States have become increasingly available and have tremendous potential to inform policy research. While it is tempting to take the accuracy of administrative data for granted, there are reasons why researchers should approach these data with a degree of caution.…

The U.S. teacher pension system is in major financial trouble, with almost $390 billion in unfunded liabilities, according to a recent report from the National Council on Teacher Quality (NCTQ). And funding shortfalls grew in all but seven states between 2009 and 2012, the nonprofit research and policy group found. Though the current economic…

We use data from workers in the largest public-sector occupation in the United States -- teaching -- to examine the effect of pension enhancements on employee retention. Specifically, we study a 1999 enhancement to the benefit formula for public school teachers in St. Louis that resulted in an immediate and dramatic increase in their incentives to…

For years, the debate about American education was like a bad marriage. The arguments were about everything but the core issue--instructional quality. The other issues--education finance, school choice, standards--all matter, but are secondary to the importance of effective instruction. In the labor-intensive education field, effective instruction…