EdStat: States’ Teacher Pension Plans Are Now Underfunded by $500 Billion – by Education Next

States’ teacher pension plans have been managed so poorly that they’re now underfunded by $500 billion. Rising costs have led states and districts to scale back their spending on instructional costs, including on teacher salaries, and cut retirement benefits for new workers. Because charter schools have more autonomy when it comes to choosing retirement options for their teachers, they’re poised to innovate and lead by example, especially when it comes to teachers’ retirement benefits.

—Education Next

Source: EducationNext