1/29/2015 – Gold-Plated Public-School Pension Plans? Most Teachers Never See the Cash (Forbes)

Jan 29, 2015 Comments Off by

 In 15 states, teachers have to work 10 years before they vest in their retirement plans. Many are long gone before they are eligible to collect one dollar in benefits, even as they are obligated to contribute a substantial portion to their plans each payday. Yet even though only half of teachers will collect their benefits, teacher-pension debt has climbed up to half a trillion dollars.“An average of 70 cents of every dollar contributed to state teacher pension systems is paying off the ever-increasing pension debt,” according to a new study by the National Council on Teacher Quality, a research and policy group focused on restructuring the teaching profession. Last year, state teacher pension systems had $499 billion in unfunded liabilities. That figure is up $100 billion in the two years since the group’s last report. On average, that’s about $10,000 in pension debt for each school-age child in the country.

Read the full article at Forbes.

Financial Landing 2015

About the author

The author didnt add any Information to his profile yet