• Even if pension plans hit their investment and contribution goals, they won't be fully funded by 2042.
  • State and local pension contributions equal 3.8 percent of total budgets, but those rates will need to rise for states to get on a path toward full funding.
  • This study examines the long-term effects of pension reforms on employer costs and on state budgets for a sample of 32 plans in 15 states and finds that, for most plans, the reforms fully offset or more than offset the impact of the financial crisis on the sponsors’ costs.
  • As a facet of compensation, teacher pension policy should be subject to the outcome- and equity-oriented workforce goals of broader teacher reform programs. Teacher pension policy should help attract to teaching especially promising college graduates and career-changers.
  • How well do teachers understand their current pension plans? And, what do they think about alternative plan structures?