This curriculum will help you understand how the retirement system in your state works, the advantages it offers, and the challenges it faces.
After completing it, you’ll see the big picture around your retirement, factors that could threaten it, and possible solutions. We don’t advocate for any single solution or suggest a move away from traditional pension systems.
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1. Basics of Retirement
Completion Time:
12 min
Let’s take a look at why it is important to learn about pensions and what it means to be on a path to retirement security.
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2. Basics of Pension Benefits
Completion Time:
15 min
What you need to know about how pension benefits are calculated.
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3. Basics of Pension Funding
Completion Time:
30 min
What you need to know abut how pensions are funded and what different pension terms mean.
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4. Causes of Funding Challenges
Completion Time:
30 min
There is a nearly $700 billion shortfall in teacher pension funds nationally. It is important to understand the causes of this underfunding.
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5. Consequences of Funding Challenges
Completion Time:
25 min
Most pension funds are not in immediate danger of insolvency, but there are consequences from accumulating pension debt in both the short and long term.
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6. Challenges of Pension Designs
Completion Time:
20 min
Pension benefits work well for some teachers, but there are also important risks that every pension plan participant should understand about their benefits.
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7. Basics of Alternative Retirement Plans
Completion Time:
20 min
Retirement benefits should not be one-size-fits-all. There are other retirement plan designs that can also fit teachers’ needs.
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8. Highlighting Solutions
Completion Time:
10 min
Once you understand the nuts and bolts of how pension benefits work as well as the challenges and risks, the solutions start to become really clear.
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9. Conclusion
Completion Time:
3 min
Now, let’s take a look at the benefit designs and current status of the teacher retirement plan in your state.
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