The Census Bureau’s Annual Survey of School System Finances compiles total K-12 education spending and revenue across the entire country. The latest data shows employee benefits continue to eat away at school budgets.
For most teachers, vesting periods are largely symbolic. Merely vesting in a pension plan is not sufficient to guarantee a decent benefit, and many teachers would be better off withdrawing their contributions than waiting to collect a pension.
As teachers in Los Angeles prepare to strike, the district is spending a rapidly rise share of its budget on employee benefits, rather than hiring more teachers or paying existing teachers teacher salaries.