According to a report released today by the
National Council on Teacher Quality, 41 states have state educator pension systems that are underfunded to the tune of about $390 billion.
Check out the report to see what they have to say about your state.
Among the key findings:
- Pension system underfunding is worse than meets the eye because of unrealistic assumptions about returns on investment
- It takes too long for teachers to get vested in most systems and most of the defined benefit plans are inflexible and unfair to teachers--not in sync with the needs of a modern workforce.
- Teachers and school districts are being squeezed to make up for poorly funded state systems.
They also make a few recommendations. It's a long report at 72 pages, but the 4-page executive summary is a quick and informative read.