Halting A Runaway Train: Reforming Teacher Pensions for the 21st Century - 0 views
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Jeff Bernstein on 26 Oct 11Can public-sector pensions be reformed, particularly for teachers? Everyone knows that unfunded and underfunded pension systems of the traditional kind ("defined benefit"), plus ancillary health care costs and related benefits for retirees, are burdening state and local education budgets across the land, particularly at a time of broader economic frailty. But few communities and states have yet demonstrated the wisdom, fortitude, capacity, and imagination to devise workable alternatives and put them into place. We're at a point in time where a major public-policy (and public-finance) problem has been defined and measured, debated and deliberated, but not yet solved.