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 Not All Changes are Equal written by David Knapp and published by . This book was released on 2016 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: RAND researchers developed a dynamic retention model to estimate and analyze the relationship between different retirement benefit policies and retention over the career of Chicago public school teachers.

Download or read book The Effects of Public Sector Retirement Plan Reform on Workforce Retention written by Beth J. Asch and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Faced with unfunded pension liabilities, many states have redesigned their pension plans for public sector workers. The focus of these pension reforms in recent years has been on changing the design of traditional defined benefit (DB) retirement plans as well as changing the plan type to a defined contribution (DC) plan or a hybrid plan that includes both DB and DC components. But these changes will also affect workers' incentives to stay or leave the workforce, thereby affecting the size of the workforce and its experience mix. In this working paper, the authors assess the impact of pension reform on retention using data on public sector teachers. They estimate a common stochastic dynamic programming model using administrative personnel data on public school teachers for three states, Pennsylvania, South Carolina, and Tennessee, and use the estimated model parameters to simulate how alternative pension reforms would affect teacher retention over a career. Despite differences in preferences, teacher pay, external job markets, and policy across states, model simulations show that common policy reforms lead to qualitatively similar findings. Changes to retirement plan design have substantive effects on the retention of new hires over their entire career. Lower benefits and higher employee contributions result in lower retention over the early to mid-career, leading to greater turnover during those parts of the career. This working paper should be of interest to the research community concerned with pension reform and the workforce effects of these reforms.

Download or read book Teacher Turnover and Teacher Retirement written by Dillon Fuchsman and published by . This book was released on 2020 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Teachers have an important impact on students in the short- and long-term, but only teachers' experience consistently predicts high teacher quality. This dissertation, divided into three chapters, investigates two topics that are related to teachers' experience levels: turnover and retirement. The first chapter studies the relationship between voluntary beginning teacher turnover and teachers' levels of conscientiousness. It uses the data from the Beginning Teacher Longitudinal Study and the effort that teachers put on a survey taken during their first year in the profession as a proxy for teachers' levels of conscientiousness. The results of this chapter indicate that teachers putting less effort on their surveys (i.e. the less conscientious teachers) are more likely to be retained. While higher quality principals can reduce the likelihood of teacher turnover, these principals more effective at retaining less conscientious teachers. The second chapter conceptually evaluates policies that try to induce teacher turnover in an attempt to reduce mounting pension costs. Using data from Massachusetts, this chapter calculates the required deviations from actuarially assumed teacher exit rates that would hold the uniform normal cost rate (the average cost of prefunding all currently accruing benefits for teachers as a percent of salary) constant when the lowering the discount rate from the expected investment return rate to a less risky rate. It finds that the probability that each teacher exits would have to increase substantially. This chapter also evaluates two targeted policies that would only increase teacher exit rates among the teachers that earn individual normal cost rates above the uniform normal cost rate and among the teachers that are eligible to retire. Even when all teachers in the targeted populations exit the Massachusetts Teachers' Retirement System, savings to the fund are not enough to prevent a rise in the uniform normal cost rate. The final chapter of this dissertation calculates teachers' willingness-to-pay for several job conditions using a nationally representative sample of teachers from RAND's American Teacher Panel. Results indicate that respondents value their final average salary defined benefit plans at under 3 percent of salary relative to switching to an alternative retirement plan, but experience and cognitive ability, used to proxy for teacher quality, mediate this preference. Early-career and lower quality teachers, measuring through lower levels of cognitive ability, are indifferent to the type of retirement plan they are enrolled in. Respondents also valued their retirement plans less than they valued their replacement rates, retirement ages, salary growth, health insurance, and whether they are enrolled in Social Security.

Download or read book Exploring Voluntary Retirement Incentives for Teachers written by David Knapp and published by . This book was released on 2018 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many school districts have used or are considering the use of voluntary retirement incentives. The intent of these incentives is to decrease the payroll cost of their workforce, decrease retirement fund liability, decrease workforce size without layoffs, or a combination of these outcomes. At the end of the 2017 school year, Chicago Public Schools offered a one-time, unanticipated retirement incentive for the purpose of reducing its cost by shifting from the employment of retirement-eligible to new teachers; the latter group is paid 70 percent of the senior teacher's salary. It offered $1,500 per year of service of non-pensionable income for teachers who agreed to retire immediately. We use a dynamic model of teacher retention behavior to predict the number of teachers willing to accept this voluntary retirement incentive and retire. The model is estimated using individual-level data on entry cohorts of Chicago teachers from 1979-2000, which are the cohorts affected by the retirement incentive. Our model predicts that only 588 of the 2,700 teachers eligible for the benefit will retire. Our research reveals two important dimensions to consider in retirement incentive design. First, a voluntary retirement incentive results in substantial economic rents: payments to individuals who would have retired without the incentive. For Chicago's incentive, this would amount to 73% of payments. Second, if the incentive appeals to individuals closest to indifference between continuing to teach and retiring, those who are incentivized to retire would have likely retired within a few years without the incentive. In the case of Chicago, if they replace all teachers that are incentivized to retire, we find negative cost savings over the next six years. If not all retiring teachers are replaced, the cost savings could be positive.

Download or read book Pension Enhancements and the Retention of Public Employees written by Cory Koedel and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Teacher Retention written by David Waltz Grissmer and published by . This book was released on 1994 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: Being in a profession that receives much criticism--much of it undeserved--can significantly affect the morale of teachers and their desire to stay in the profession. Much of the conventional wisdom regarding schools and families is inaccurate. National test scores have increased, not declined, over the past few years, and minorities have made significant gains. Researchers can contribute to teacher retention by "getting the message right" about what has happened in education over the past 20 years and the important contributions teachers have made to the goal of reducing inequality in educational outcomes among poor and lower-achieving youth.

Download or read book A Survey of Teacher Retirement Plans in the United States with Recommendations for a Retirement Plan for Georgia written by Marvin Thomas Shields and published by . This book was released on 1940 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Pension Strategies in Europe and the United States written by Robert Fenge and published by MIT Press. This book was released on 2008 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: Demographic realities will soon force developed countries to find ways to pay for longer retirements for more people. In Pension Strategies in Europe and the United States, leading economists analyze topical issues in pension policy, with a focus on raising the retirement age, increasing retirement savings, and the political sustainability of reforms that will accomplish these goals. After a substantive and wide-ranging introduction by the editors that weaves together the demographic and economic strands of the story, the chapters present cutting-edge research, offering both theoretical and empirical analyses. Contributors examine such topics as the reform of key structural features of existing pay-as-you-go (PAYG) pension systems, analyzing how benefits should vary with the age of retirement, labor supply elasticity after France's 1993 pension reform, and fiscal response to a demographic shock; the feasibility of PAYG reforms in the United States and the competition among state pension systems that results from labor mobility in Europe; and private, funded systems (increasingly perceived as necessary adjuncts to PAYG systems) in the UK, the US, and the Netherlands, and in terms of individual portfolio management. The editors conclude the volume with a study of recent German and UK reforms and their effects on personal savings.ContributorsTheodore C. Bergstrom, A. Lans Bovenberg, Antoine Bozio, Woojen Chung, Juan C. Conesa, Gabrielle Demange, Richard Disney, Carl Emmerson, Robert Fenge, Luisa Fuster, Carlos Garriga, Christian Gollier, John L. Hartman, Ayse Imrohoroglu, Selahattin Imrohoroglu, Thijs Knaap, Georges de Ménil, Pierre Pestieau, Eytan Sheshinski, Matthew WakefieldRobert Fenge is Senior Research Fellow at the Ifo Institute for Economic Research and Assistant Professor of Economics at the University of Munich. Georges de Ménil is Professor of Economics at École des Hautes Études en Sciences Sociales (EHESS), Paris. Pierre Pestieau is Professor of Economics at the University of Liège. Fenge and Pestieau are coauthors of Social Security and Early Retirement (MIT Press, 2005).

Download or read book Pensions for Public School Teachers written by Clyde Bowman Furst and published by . This book was released on 1918 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Teaching for God s Glory written by Tyler Harms and published by Elm Hill. This book was released on 2020-02-18 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: Congratulations! You may have just finished up your student-teaching and landed your first teaching position. You begin to think about your first year with your new students. Student teaching was a great experience, but now you may be searching for answers of how to get started running your own classroom. This practical and inspirational daily guide for teachers was comprised over many years and through interviews of teachers at all grade levels. The collective years of teaching experience interviewed was over 500 years of experience from K-12 educators both in private and public schools across the country! Teaching for God’s Glory is a daily walk with the new teacher to help the new educator plan for their first years of teaching. The first section, Before the School Year Begins, gives practical advice on ways to set up your classroom, communication with parents and students, as well as orienting yourself with your new surroundings. The rest of the year is divided into quarters of the year with applicable and inspiring advice and wisdom that new teachers can use right away in their classrooms. At the end of each school week, there is a place for reflection on what worked well that week, areas for growth, and prayer requests for you or your students. This book makes the perfect gift for those starting their own career in education. Years later, they will be able to look back and reflect on how much they have grown in their craft! Tyler Harms has over a decade of experience serving students and families at the elementary and secondary levels. He graduated from Calvin College with a BA in Education and went on to get two Master’s Degrees in Special Education and Mathematics. Tyler spent many hours interviewing master teachers across the country and reflecting on his own journey as an educator. Teaching for God’s Glory is the book we all wish we had read in college before becoming a teacher. The book gives practical advice and inspiration to those who are in the trenches each day educating our future leaders.

Download or read book Allowances to Teachers in Overseas Dependents Schools written by United States. Congress. House. Committee on Post Office and Civil Service. Subcommittee on Retirement and Employee Benefits and published by . This book was released on 1976 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Overseas Teachers written by United States. Congress. House. Committee on Post Office and Civil Service. Subcommittee on Retirement and Employee Benefits and published by . This book was released on 1976 with total page 100 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 Potential Impact of Teacher Early Retirement Legislation on Education Quality written by and published by . This book was released on 1999 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: ... Analyzes early retirement legislation's effect on teacher recruitment and retention, classroom education, the MA pension system, and drastic measures taken by other states to combat teacher shortages ...

Download or read book Teacher Pension Systems the Composition of the Teaching Workforce and Teacher Quality Working Paper 72 written by Cory Koedel and published by . This book was released on 2012 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: Teacher pension systems target retirements within a narrow range of the career cycle by penalizing individuals who separate too soon or remain employed too long. The penalties result in the retention of some teachers who would otherwise choose to leave, and the premature exit of some teachers who would otherwise choose to stay. We examine how the effects of teachers' pension incentives on workforce composition influence teacher quality. Teachers who are held in by the "pull" incentives in the pension systems are not more effective, on average, than the typical teacher. Teachers who are encouraged to exit by the "push" incentives are more effective on average. We conclude that the net effect of teachers' pension incentives on workforce quality is small, but negative. Given the substantial and growing costs of current systems, and the lack of evidence regarding their efficacy, experimentation by traditional and charter schools with alternative retirement benefit structures would be useful. Appended are: (1) Pension-Wealth Calculations; and (2) Supplementary Tables. (Contains 10 tables, 1 figure and 28 footnotes.) [Additional funding for this paper was provided by the DC State Office of the Superintendent.].

Download or read book Retiring Allowances for Officers and Teachers in Virginia Public Schools written by Clyde Bowman Furst and published by . This book was released on 1926 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: