History of IDEA
Jeannie Oakes, Founder and Former Director
Youth Voice in School Finance
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Past Educational Opportunity Reports
In California, study says, teachers’ pensions fall short of other public workers’
- 05-06-2011
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By Mary Williams Walsh/New York Times
As states and cities debate whether benefits can or should be cut back for public workers, a new study suggests some of those workers have a lot more to fight for than others. The study found that public school teachers’ retirement benefits — at least the part taxpayers pay for — are smaller than those of virtually any other type of public employee, despite frequent claims that teachers’ pensions are excessive and diverting precious dollars from education and other essential government services. It appears, in fact, that the teachers in the study would be better off if their current pension plan were scrapped entirely, and replaced by one cutting the defined benefit portion and adding a defined contribution feature. Public employees, and the unions that represent them, have generally resisted any such shift, arguing that a traditional defined-benefit pension provides the best security in retirement. (more...)
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