{"id":646,"date":"2011-12-01T19:52:24","date_gmt":"2011-12-01T23:52:24","guid":{"rendered":"http:\/\/coreeducationllc.com\/blog2\/?p=646"},"modified":"2012-04-25T20:50:59","modified_gmt":"2012-04-26T00:50:59","slug":"pension-reform-may-attract-better-teachers","status":"publish","type":"post","link":"https:\/\/www.coreeducationllc.com\/blog2\/pension-reform-may-attract-better-teachers\/","title":{"rendered":"Pension Reform May Attract Better Teachers"},"content":{"rendered":"

The Center for American Progress has released two new reports that attempt to predict the outcomes of traditional defined-benefit pensions for teachers vs. cash-balance plans.\u00a0 Redefining Teacher Pensions: Strategically Defined Benefits for New Teachers and Fiscal Sustainability for All<\/em>, by Raegan Miller, argues that since teachers are the single most important school-based resource affecting student achievement, all areas of compensation, evaluation, and tenure should be \u201cfair game\u201d for policy reform.\u00a0 Specifically, teacher pensions \u201cshould be subject to the outcome- and equity-oriented workforce goals of broader teacher reform programs,\u201d which should attract more top graduates and career-changers to the profession, particularly those in STEM.<\/p>\n

The second paper, Buyer Beware: The Risks to Teacher Effectiveness from Changing Retirement Benefits<\/em> by Christian Weller, argues that it is not that simple.\u00a0 Changing teacher pension plans from defined benefit to cash-balance plans may have the reverse effect than that predicted by Miller.\u00a0 \u201cHigher turnover and larger initial pay [the usual effects of cash-balance plans] work against each other with respect to average teacher effectiveness\u2026more experienced and presumably more effective teachers will become more likely to leave their jobs in search of higher paying or more rewarding work.\u201d\u00a0 They would be replaced by less experienced teachers, which would lower average teacher effectiveness.\u00a0 On the other hand, this effect could be offset by the \u201cquality\u201d of the new hires, like those mentioned by Miller.<\/p>\n

Weller believes that changing pensions from defined-benefit to defined-contribution or cash-balance plans will depend on the size of the effects of the amount of turnover, the extent of the learning curve, and the reaction to initial compensation changes.\u00a0 He ran a simulation on the change, with the following outcomes\/conclusions:<\/p>\n

Average teacher effectiveness could decrease.<\/p>\n

The risks for teacher effectiveness could be much greater than demonstrated in the simulation, since most simulations do not take into account the costs associated with higher turnover and transition costs.<\/p>\n

Lowering teacher turnover could lower the risk of declining effectiveness.<\/p>\n

Higher initial compensation has a limited impact on the risk of decreasing effectiveness.<\/p>\n

There are substantial transition costs in switching retirement benefits.<\/p>\n

For Miller, the pertinent point is that defined-benefit plans do not serve the overarching goal of education reform.\u00a0 She recognizes that pension policy \u201cis not a potent lever, on its own,\u201d but that it needs to be studied carefully to identify policies that \u201cenable, catalyze, reinforce, or complement other policies sharing the goals of improving the overall quality of the teacher labor force and creating greater equity in the distribution of teaching talent.\u201d Traditional plans, she argues, do not serve these goals.\u00a0 Therefore, she offers the following recommendations:<\/p>\n

    \n
  1. Amend state constitutions subjecting any benefit-enhancing legislation to protracted, rigorous scrutiny.<\/li>\n
  2. Amend ESEA so that district Title I, Part A funds are penalized in proportion to failure to make actuarially required contributions to defined-benefit pension plans.<\/li>\n
  3. Redefine pension benefits for new teachers using a cash-balance approach that will leave existing defined-benefit plans alone, while also \u201cloosen[ing] the grip that the traditional salary schedule has on teacher compensation in the broadest sense.\u201d<\/li>\n<\/ol>\n

    To read Miller\u2019s full report, please visit http:\/\/www.americanprogress.org\/issues\/2011\/09\/redefining_teacher_pensions.html<\/a><\/p>\n

    To read Weller\u2019s full report, please visit http:\/\/www.americanprogress.org\/issues\/2011\/09\/buyer_beware.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

    The Center for American Progress has released two new reports that attempt to predict the outcomes of traditional defined-benefit pensions for teachers vs. cash-balance plans.\u00a0 Redefining Teacher Pensions: Strategically Defined Benefits for New Teachers and Fiscal Sustainability for All, by Raegan Miller, argues that since teachers are the single most important school-based resource affecting student Read more about Pension Reform May Attract Better Teachers<\/span>[…]<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5],"tags":[54,119,42,63],"class_list":["post-646","post","type-post","status-publish","format-standard","hentry","category-politics-policy","tag-policy","tag-teacher-compensation","tag-teacher-effectiveness","tag-teacher-retention"],"yoast_head":"\nPension Reform May Attract Better Teachers - 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