The escalating costs of teacher retirement

The escalating costs of teacher retirement

The Education Gadfly
July 01, 2015
  • Defined benefit pension packages: Love ‘em if they’re sending you a check each month, hate ‘em if you have to think too hard about their consequences. That’s probably the reason we just don’t give them much consideration (well, part of the reason; they’re also slightly less gripping than you may have been led to believe). Good thing the National Council on Teacher Quality put together an informative, concise fact sheet on the realities of our teacher retirement processes. The short version isn’t pretty—backloaded plans with lengthy vesting periods typically penalize teachers who leave the profession early, enter it late, or move to a different state mid-profession. Their escalating costs are also threatening to overwhelm cash-strapped districts. Painful though it may be, we may have to start dedicating more thought to the subject.

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