Charter schools got lots of coverage in 2012. The cost of teachers’ pensions did not. That’s according to the Koret Task Force on K-12 Education’s five hits and five misses for education coverage in 2012, which was based on analyzing 43 newspapers, magazines, television networks, websites, and more.
In addition to charters, hits included teachers’ unions, special education, pre-kindergarten education and No Child Left Behind.
Pension costs, Common Core academic standards, international comparisons of student achievement, online or digital learning and Louisiana’s education reforms made the “misses” list.
“Unfunded teacher pension costs are education’s own ‘fiscal cliff,’” according to task force chairman Chester E. Finn Jr. “The Common Core may well lead to enormous changes in curriculum, instruction, and testing. What Governor Jindal has accomplished in Louisiana should be a model for the nation. Shame on the press for not giving such issues their due.”
I feel I’ve seen a lot on Common Core, but I’m not a typical news consumers.
In No One Benefits, the National Council on Teacher Quality argues that teacher pension systems are failing both teachers and taxpayers. Pension systems have $390 billion in unfunded liabilities, according to NCTQ. Only 10 states can keep the pension promises already made.
In addition, retirement eligibility rules are “burdensome and unfair.”
In 38 states retirement eligibility rules for teachers are based on years of service, rather than age, which is costly to states and taxpayers as it allows teachers to retire relatively young with full lifetime benefits. The 10 states that no longer allow teachers to begin collecting a defined benefit pension well before traditional retirement age save about $450,000 per teacher, on average.
Since 2008, 40 states have raised employer contribution rates, at an average cost of $1,200 more per teacher each year. Over the same time period, 27 states have raised teacher contributions, costing the average teacher almost $500 more per year. ”Small adjustments are no replacement for systemic reform,” concludes the report.