Like Ponzi schemes, teacher pension plans also assume that new members will continue to be added to the system as it grows over time. But what if those assumptions are no longer correct?
Media outlets warned that, if trends continued, teacher retirements could hit “record-breaking heights.” Did the trends hold?
It can be hard to get a handle on teacher retirement costs. Collectively, states and school districts spend about $63 billion a year on employee retirement benefits, but what does that mean for individual school district budgets?