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Article: Education Next: Public School Teacher Retirement Costs Significantly Higher than in Private Sector.(Report)
- Article from:
- Education Business Weekly
- Article date:
- March 4, 2009
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Analysis of new data from the U.S. Department of Labor shows that employer contributions to retirement benefits for public school teachers in 2008 were substantially higher than for private professionals, a group that includes lawyers, physicians, financial managers, engineers, computer programmers, and others. According to new research by economists Robert Costrell of the University of Arkansas and Michael Podgursky from the University of Missouri-Columbia, employer contributions to teacher pensions grew from under 12 percent of earnings in 2004 to well over 14 percent in 2008, while pension costs for private sector professionals remained essentially unchanged.
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