Teacher vacancies have been a long-standing issue in U.S. public schools, only made worse by the COVID-19 pandemic. Vacancies tend to be concentrated in high-poverty, high-minority schools and hard-to-staff subjects like special education and STEM. States have implemented various policies to decrease turnover, including offering teachers bonuses…

How much do teachers value compensation deferred for retirement (CDR)? This question is important because the vast majority of public school teachers are covered by defined benefit pension plans that "backload" a large share of compensation to retirement relative to the compensation structure in the private sector, and there is scant…

Adequately preparing for retirement requires planning and knowledge about available savings and investment options. Teachers participate in a complex set of plan designs, and many do not participate in Social Security. While teachers represent a large part of the public workforce, relatively little is known regarding their knowledge and…

Defined benefit (DB) pension plans incentivize "salary spiking," where sharp increases in pay are leveraged into significantly higher levels of retirement compensation. While egregious instances of salary spiking occasionally make headlines, there is little guidance on the definition of salary-spiking behavior or understanding of its…

The ongoing crisis in teacher pension funding has led states to consider various reforms in plan design to replace the traditional benefit formulas, based on years of service and final average salary (FAS). One such design is a cash balance (CB) plan, long deployed in the private sector, and increasingly considered, but rarely yet adopted, for…

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…

The growing fiscal cost of K-12 teacher pension plans and pension-induced labor market distortions have led to calls for teacher pension reforms. Dynamic structural econometric models are a useful way to analyze the fiscal and staffing consequences of current and alternative retirement plans. This article lays out the benefits of the structural…

Retirement benefits for faculty are an important, but relatively understudied, topic in postsecondary education. To date, there have been very few studies that have used qualitative research methods to examine how workers make financial decisions about retirement, and no qualitative investigations of faculty choice between DB and DC plans. To help…

Retirement incentives are frequently used by school districts facing financial difficulties. They provide a means of either decreasing staff size or replacing retiring senior teachers with less expensive junior teachers. We analyze a one-time retirement incentive in a large school district paid to teachers willing to retire at the end of the…

This study explored the experiences of retired faculty members in higher education through semi-structured interviews. As a qualitative study, researchers conducted interviews with retired faculty members regarding their joyful moments, challenges, and strategies for overcoming obstacles in academia. The study also examined the advice retired…

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…

Aging, an often-neglected aspect of diversity in universities, is an important issue, as the rate of people working who are 75 and older is growing faster than the rate for any other age group. The present sequential explanatory mixed-method study explored 129 older online faculty's attitudes and opinions on work and retirement in an online survey…

Medical education has reported a shortage of anatomy educators since the 1960s. While the faculty pipeline has recently been explored, insights into retirement intentions, a key driver of faculty turnover, have yet to be investigated. With the mean age of anatomists rising, knowledge of retirement intentions among current educators is essential to…

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…

In contemporary society, the problem of population aging and, related to it, the problem of human resources aging is raised more and more frequently. As documented by many researchers, it has been found that the aging changes occur at both physiological and psychosocial levels and affect each employee differently. When it comes to the educational…