What Do New Teachers Think About Their Pension?

• In Event: 21.060 - Fairmont Royal York Roundtable Session Two
  In Roundtable Session: 21.060-3 - Literacy, Attendance, Teacher Pension Perceptions, and Postsecondary Supports

Abstract

Recent teacher strikes have protested low teacher pay, underfunded schools, and, in two states, proposed pension plan changes. Stagnant pay reflects recession era cuts and increased pension contributions. With demands to raise teacher compensation, the increased money needed for pension liabilities, and the limited benefit to many teachers, an adjustment to the pension system could partially address these problems. However, pensions seem sacrosanct to teachers. But are they? Newer teachers were surveyed about their knowledge and attitudes toward pensions. Most strongly valued a pension and felt it kept them in teaching. However, they preferred a different system than the traditional fixed benefit plan.

Author

• Joseph M. O'Reilly, Arizona State University