Download or read book State and Local Pensions written by Alicia Haydock Munnell and published by Brookings Institution Press. This book was released on 2012 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the financial crisis and Great Recession, the health of state and local pension plans has emerged as a front burner policy issue. Elected officials, academic experts, and the media alike have pointed to funding shortfalls with alarm, expressing concern that pension promises are unsustainable or will squeeze out other pressing government priorities. A few local governments have even filed for bankruptcy, with pensions cited as a major cause. Alicia H. Munnell draws on both her practical experience and her research to provide abroad perspective on the challenge of state and local pensions. She shows that the storyis big and complicated and cannot be viewed through a narrow prism such as accountingmethods or the role of unions. By examining the diversity of the public plan universe, Munnell debunks the notion that all plans are in trouble. In fact, she finds that while a few plans are basket cases, many are functioning reasonably well. Munnell's analysis concludes that the plans in serious trouble need a major overhaul. Buteven the relatively healthy plans face three challenges ahead: an excessive concentration of plan assets in equities; the risk that steep benefit cuts for new hires will harm workforce quality; and the constraints plans face in adjusting future benefits for current employees. Here, Munnell proposes solutions that preserve the main strengths of state and local pensions while promoting needed reforms.
Download or read book Proposed Retirement Plan for New York City School Teachers written by New York (N.Y.). Commission on Pensions and published by . This book was released on 1916 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Graying Teachers written by Frank V. Auriemma and published by University of Oregon ERIC Clearinghouse on Educational Management. This book was released on 1992 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nearly a million teachers will reach retirement age in the next 9 to 11 years. This report presents a complete state-by-state overview of the retirement programs available to America's teachers. Chapter 1 presents the issues of teacher aging, retirement, and early retirement and asks how school districts might effectively manage the retirement and replacement of teachers. Chapter 2 surveys retirement plans in the 50 states and provides information on how to calculate a teacher's pension, with relevant data by state. Chapter 3 looks at local and state programs to entice teachers to retire early. Empirical methods are used to assess the effectiveness of various plans. Case studies of early retirement incentive plans in six districts show how these plans work. Based on conclusions drawn from these data, school officials are advised on how to create, implement, and evaluate an early retirement program. Chapter 4 calls for a national task force on teacher retirement and argues that the future of the teacher retirement system depends on resolving six related issues: (1) threatened financial viability; (2) lack of consistency between local and state policies; (3) lack of portability of plans; (4) lack of system flexibility in investment and withdrawal of funds for teachers; (5) lack of control by teachers as individuals and as a group; and (6) lack of equity among teachers in various districts. (21 tables, 48 references) (MLF)
Download or read book Teacher Retirement Comparisons written by Judith S. Lohman and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides retirement benefit formulas and average teacher salaries for Connecticut, Maine, New Jersey, New York and Rhode Island.
Download or read book Teacher Pensions written by Janet S. Hansen and published by . This book was released on 2008 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pensions are an important but comparatively unexamined component of human resource policies in education. In an increasingly competitive world where employees are more mobile than ever, pension policies that were designed in the last century may be out of step with the needs of both individuals and schools. This background paper aims to foster understanding and informed discussion of public education pensions. It describes the current system; examines concerns about funding, sustainability, equity, and effectiveness; and discusses pension plan structures and some options for pension plan redesign. Like most state and local government employees, teachers are still covered largely by defined benefit pensions based on their final salaries and length of service. Such pensions have been replaced in many private sector firms by defined contribution plans. The legal and economic context is, however, substantially different for public and private sector pensions. Notably, a sizable minority of public sector employees are not covered by Social Security retirement benefits. State and local government pensions are "prefunded" to varying degrees. While most plans currently have some unfunded liabilities, analysts do not foresee a broad financial crisis in the public pension arena. Public pensions do, however, face some threats to their financial sustainability caused, for example, by employers' failure to make actuarial required contributions and by the future stresses that other unfunded commitments such as retiree health care will place on state and local governments. Distinct from the question of whether teacher pension plans are financially sustainable is the question of how fairly they treat all teachers they serve and what if any effect they have on schools' ability to find qualified staff. While traditional defined benefit plans with their back-loaded benefits treat long-serving teachers well, they tend to short-change individuals who do not work a full career in teaching or who move from state to state. The structure of teacher pensions may not only be inequitable for individual teachers but can contribute to teacher shortages by discouraging people from moving to schools where their skills and knowledge are most needed. The debate over whether public pensions need to be redesigned has frequently taken the form of an argument over whether defined benefit pensions should be replaced by defined contribution plans. Framing the question in this way obscures the fact that the boundaries between various types of pensions are porous, and plans can be designed to include a variety of features depending on the objectives being sought. Once these objectives are defined, various plan types and features can be examined to determine whether existing arrangements or some new combination would best meet those objectives. This paper raises some questions about objectives for teacher pension plans that merit re-examination, offers an initial look at some of the options available for rethinking teacher pension design, and describes one option, the defined benefit cash balance plan, that to date has received little attention in the public sector. Appendix tables report specific features of teacher pension plans. (Contains 57 endnotes, 2 figures, and 9 tables.) [This paper was prepared with financial support from the Donnell-Kay and Piton Foundations.].
Download or read book Analysis of Local Provisions for Teacher Retirement written by National Education Association of the United States. National Council on Teacher Retirement and published by . This book was released on 1947 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Financial Condition of Teacher Retirement Systems written by Richard A. Victor and published by . This book was released on 1980 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Final Report to the General Assembly written by Rhode Island. General Assembly. Special Legislative Commission to Study the Employees Retirement System and published by . This book was released on 1970 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pensions Investments written by and published by . This book was released on 1995 with total page 654 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Retirement Benefits and Teacher Retention written by David M. Knapp and published by Rand Corporation. This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Recently, many state governments have legislated reductions in teachers' retirement benefits for new and future employees as a means of addressing the large unfunded liabilities of their pension plans. However, there is little existing capacity to predict how these unprecedented pension reforms — and, more broadly, changes to teacher compensation — will affect teacher turnover and teacher experience mix, which, in turn, could affect the cost and efficacy of the public education system. This research develops a modeling capability to begin filling that gap. The authors develop and estimate a stochastic dynamic programming model to analyze the relationship between compensation, including retirement benefits, and retention over the career of Chicago public school teachers. The structural modeling approach used was first developed at RAND for the purpose of studying the relationship between military compensation and the retention of military personnel and is called the dynamic retention model, or DRM. Although the peer-reviewed literature on teachers includes research on retirement benefits and the timing of retirement, the research does not model compensation and retention over the length of the career from entry to exit (into retirement or an alternative career), and it has limited capability to predict the effect of compensation and retirement benefit changes on retention. By comparison, the DRM is well suited to these tasks, and the DRM specification developed here for Chicago teachers fits their career retention profile well"--Back cover.
Download or read book State and Local Pensions written by Alicia H. Munnell and published by Rowman & Littlefield. This book was released on 2012-08-27 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the financial crisis and Great Recession, the health of state and local pension plans has emerged as a front burner policy issue. Elected officials, academic experts, and the media alike have pointed to funding shortfalls with alarm, expressing concern that pension promises are unsustainable or will squeeze out other pressing government priorities. A few local governments have even filed for bankruptcy, with pensions cited as a major cause. Alicia H. Munnell draws on both her practical experience and her research to provide a broad perspective on the challenge of state and local pensions. She shows that the story is big and complicated and cannot be viewed through a narrow prism such as accounting methods or the role of unions. By examining the diversity of the public plan universe, Munnell debunks the notion that all plans are in trouble. In fact, she finds that while a few plans are basket cases, many are functioning reasonably well. Munnell's analysis concludes that the plans in serious trouble need a major overhaul. But even the relatively healthy plans face three challenges ahead: an excessive concentration of plan assets in equities; the risk that steep benefit cuts for new hires will harm workforce quality; and the constraints plans face in adjusting future benefits for current employees. Here, Munnell proposes solutions that preserve the main strengths of state and local pensions while promoting needed reforms.
Download or read book Do Pension Cuts for Current Employees Increase Separation written by Laura Quinby and published by . This book was released on 2019 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines whether pension cuts affecting current public employees encourage mid-career teachers and civil servants to separate from their employers. The analysis takes advantage of a 2005 reform to the Employees' Retirement System of Rhode Island (ERSRI) that dramatically reduced the generosity of benefits for current workers. Importantly, the cuts applied only to ERSRI members who had not vested by June 30, 2005. Vested ERSRI members and municipal government employees in Rhode Island were unaffected. This sharp difference in benefit generosity permits a triple-differences research design in which non-vested ERSRI members are compared, before and after the reform, to vested members and to all members of the Municipal Employees' Retirement System of Rhode Island. The results show that the pension cut caused a 2.4-percentage-point increase in the rate of separation, implying an elasticity of labor supply with respect to pension benefits of around 0.25. Rhode Island teachers were significantly less responsive to the benefit cut than other occupations, in line with an existing literature on teacher labor supply, suggesting that the results from that literature may not generalize to the broader workforce.
Download or read book Life Tables for the United States Social Security Area 1900 2100 written by Felicitie C. Bell and published by . This book was released on 2002 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Strengthening Forensic Science in the United States written by National Research Council and published by National Academies Press. This book was released on 2009-07-29 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: Scores of talented and dedicated people serve the forensic science community, performing vitally important work. However, they are often constrained by lack of adequate resources, sound policies, and national support. It is clear that change and advancements, both systematic and scientific, are needed in a number of forensic science disciplines to ensure the reliability of work, establish enforceable standards, and promote best practices with consistent application. Strengthening Forensic Science in the United States: A Path Forward provides a detailed plan for addressing these needs and suggests the creation of a new government entity, the National Institute of Forensic Science, to establish and enforce standards within the forensic science community. The benefits of improving and regulating the forensic science disciplines are clear: assisting law enforcement officials, enhancing homeland security, and reducing the risk of wrongful conviction and exoneration. Strengthening Forensic Science in the United States gives a full account of what is needed to advance the forensic science disciplines, including upgrading of systems and organizational structures, better training, widespread adoption of uniform and enforceable best practices, and mandatory certification and accreditation programs. While this book provides an essential call-to-action for congress and policy makers, it also serves as a vital tool for law enforcement agencies, criminal prosecutors and attorneys, and forensic science educators.
Download or read book Educators Negotiating Service written by and published by . This book was released on 1970 with total page 590 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Economist written by and published by . This book was released on 2006 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Retail services Labor Report written by and published by . This book was released on 1984-07 with total page 1426 pages. Available in PDF, EPUB and Kindle. Book excerpt:
