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The Path to Retirement Security

There are a lot of positives associated with pension plans:

  • The promise of guaranteed income in retirement is probably the most important.
  • Some experts also think that pension benefits help retain quality teachers (though there is mixed empirical evidence for this).
  • And a few advocates think that guaranteed pension benefits are an appropriate counterweight to the lower public sector salaries teachers receive during their working years.

Unfortunately, there is no one-size-fits-all retirement plan design. This module takes a look at some of the trade-offs necessary for pension plans to provide the benefits they do and discusses some of the challenges that come with various designs.