Not all teachers can receive a full refund plus interest on their contribution. And for many, participating in the state system comes with other trade-offs.
A pension law that would have reduced benefits for city workers was ruled unconstitutional. The ruling is a tough blow for the city’s finances and could worsen the situation for new and future workers.
For all the media attention over the pension cash crunch in Chicago, there been no mention about the benefits themselves, despite their severe inadequacy.
New Jersey public school teachers are protesting Christie's skipped pension payments, but should also consider how the system itself shortchanges their benefits.