Teacher pension plans are inarguably complicated, so it's really no surprise that the most high traffic pieces published in 2018 were ones that shed light on a complex issue. Check them out below, plus one extra post highlighting our most asked question of all time.
There’s a common misconception that teachers’ retirement plans are gold-plated, extremely generous options. And for a very small pool, they do provide a secure retirement. But that’s not the case for the majority of teachers. To illustrate this, we dug into a sampling of states to see how they measure up, and ran the numbers to see if an alternative plan design might serve more of their workforce.
One of the most common teacher salary questions is whether or not teachers get paid over the summer months. So, do they? It depends. Teacher payroll schedules vary district-to-district: some allow workers to spread their 10-month salary over 12 months, while others don’t give any paycheck during the summer months, requiring teachers to budget, or in some cases, get a second job.
While traditional, back-loaded pension plans fall short of providing adequate retirement benefits to all members, there are better options. And, contrary to a public debate that often pits pensions against 401ks, there are other alternatives that would better balance the needs of employers and employees.