Poorly structured policies implemented over the past few decades by states and cities are threatening retirement security for public school teachers, according to a new report published by Bellwether Education Partners.
In "Friends without Benefits: How States Systematically Shortchange Teachers' Retirement and Threaten Their Retirement Security," authors Chad Aldeman and Andrew J. Rotherham estimate that half of all Americans who teach in public schools won't qualify for even a minimal pension benefit, and less than one in five will remain long enough to earn a normal retirement benefit.
The report found that in Maine, 86.1 percent of teachers will not qualify for a pension, and in the District of Columbia four out of five beginning teachers will not. Only about 25 percent of teachers will qualify in Mississippi, Pennsylvania, New Hampshire, and Hawaii, while fewer than 35 percent of teachers will stay long enough to qualify for a pension in Florida, Nebraska, Indiana, South Carolina, New Mexico, Ohio, Georgia, and North Carolina.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
