Tag: benefit levels

NJ Actuarial Reports – The Believable Numbers 6/30/22

Mary Pat Campbell

Link: https://burypensions.wordpress.com/2023/04/03/nj-actuarial-reports-the-believable-numbers-6-30-22/

Graphic:

Excerpt:

The June 30, 2022 actuarial reports for the New Jersey Retirement System are now all out and there are a few numbers therein that can be taken seriously (none involving liabilities or even the market value of assets considering all those self-valued alternative investments). The main purpose of these official actuarial reports is to determine the ‘required’ contributions which practically all parties have a vested interest in understating so we get a bunch of fanciful numbers where possible. However, these numbers you can’t pretty up:

Author(s): John Bury

Publication Date: 3 April 2023

Publication Site: burypensions

Teacher Retirement Systems: A Ranking of the States

Mary Pat Campbell

Link: https://bellwethereducation.org/publication/retirement-systems-ranking

Graphic:

Excerpt:

Teacher retirement plans are called “gold plated” by their proponents and critics alike, when in fact half of teachers will never see a pension at all. Only about one in five teachers gets a full pension. And in many cases retirement benefits shortchange teachers and make it harder for them to save for their retirement. 

In Teacher Retirement Systems: A Ranking of the States, Bellwether Education Partners ranks how state retirement systems serve U.S. teachers and taxpayers:

….

Retirement programs don’t serve all teachers equitably. For teachers who work in the classroom for fewer than 10 years, 34 states receive an “F” for how well retirement plans prepare them for retirement. For teachers who work in the classroom for more than 10 years, but do not stay until retirement age, 23 states receive an “F” ranking.

Link to full report: https://bellwethereducation.org/sites/default/files/Teacher%20Retirement%20Systems%20-%20A%20Ranking%20of%20the%20States%20-%20Bellwether%20Education%20Partners%20-%20FINAL.pdf

Author(s):

MAX MARCHITELLO
ANDREW J. ROTHERHAM
JULIET SQUIRE

Publication Date: 31 August 2021

Publication Site: Bellwether Education Partners