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Teacher pension plans plagued by debt

Most public school teachers are enrolled in defined benefit (DB) pension plans, in which retirement income is determined by a complicated formula. Currently, states across the country are facing significant shortfalls in DB plans due to unfunded liabilities—effectively debt. Cory Koedel, associate professor of economics and public policy in the College of Arts and Science and the Truman School of Public Affairs at the University of Missouri, found that, on average, nearly 11 percent of current teacher earnings is required to pay for pension debt rather than benefits for current workers.
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(University of Missouri-Columbia) Cory Koedel, associate professor of economics and public policy in the College of Arts and Science and the Truman School of Public Affairs at the University of Missouri, found that, on average, near...

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