NEA strongly supports protecting public defined benefit plans. Such plans provide a defined, predictable, guaranteed benefit, usually based on factors such as age, earnings, and years of service. In contrast, defined contribution plans offer no guaranteed, predictable retirement benefit and place retirement security at the risk of stock or bond markets.
Educators do not retire into a life of luxury. They have spent their lives dedicated to public service, often forgoing higher salaries offered in the private sector. They have earned and deserve the modest pensions they were promised.
Useful Information on State Pension Battles
Key Organizations Supporting Retirement Security for All Educators:
- National Council on Teacher Retirement (NCTR)
- National Public Pension Coalition (NPPC)
- National Institute for Retirement Security (NIRS)
- National Association of State Retirement Administrators (NASRA)
- National Conference on Public Employee Retirement Systems (NCPERS)
Important Resources Relating to Retirement Security for All Educators:
- Characteristics of Large Public Education Pension Plans ( PDF, 4.79 MB, 222 pgs.)
- Still a Better Bang for the Buck: Update on the Economic Efficiencies of Pensions
- Decisions, Decisions: Retirement Plan Choices for Public Employees and Employers
- Are California Teachers Better off with a Pension or a 401(k)?
- Teacher Retirement Plans: Case Studies Indicate Value of Pensions
- Pensionomics 2014
- The Continuing Retirement Savings Crisis
- 401(K) Plans’ Inefficiency Struggles will Grow
- Shortchanged in Retirement: Continuing Challenges to Women's Financial Future
- Women In Education: A Retirement Bright Spot
- Race and Retirement Insecurity in the United States
- The Inefficiencies of Existing Retirement Savings Incentives ( PDF, 1.2 MB, 8 pgs.)