Teachers and Schools Are Well Served by Teacher Pensions

Several studies have argued that teacher pensions are a raw deal for most teachers and should be replaced with account-style plans. This report examines research that most teachers working today are building a secure retirement. According to the author, the myth that most teachers get a raw deal while a lucky few receive generous pensions is based on flawed studies that give equal weight to career teachers and to those who leave after a year or two. A shift to account-style plans would not benefit most teachers and would increase teacher turnover to the detriment of students. While the existing pension system can and should be tweaked to meet changing needs, it successfully serves the goals of attracting and retaining teachers, promoting orderly retirement, and providing retirement security.