- The Path to Retirement Security
- Defining Retirement Security
- Staying on the Road to Retirement Security
- Backloading: Pensions are Designed for Teachers Who Spend Their Entire Career in a Single State
- Most Teachers Will Not Earn a Full Pension
- Pensions Don’t Transfer Across State Lines
- People Do Not Always Earn As Large of Pensions as They Think
- Some States Have Minimized These Challenges
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.