A new report from the National Institute on Retirement Security claims that state, local, federal, and private pensions contribute $555 billion to the American economy's GDP. But pensions don't actually contribute to GDP.
Over the years Missouri legislators have increased pension benefits significantly. But they have not distributed those increases evenly to all teachers.
A new paper looks at pension changes adopted by states during the recent recession and finds that new teachers face significant penalties based solely on the day they were hired.
Few states have adopted pure defined contribution plans, but there has been a recent increase in the number of non-traditional retirement plans, including hybrid plans that give employees more flexibility while reducing state financial burdens.
