Tag Archives: reform

I’m pretty smart for a 5-year-old. But sometimes I wander into a topic that’s just over my head. That doesn’t mean it’s not important, but it’s probably just best if I let the big people talk about it themselves. My friends in the Education Policy Center released a new Issue Paper today, called Deferred Retirement Compensation for Career K-12 Employees: Understanding the Need for Reform (PDF). It was researched and written by Dr. Michael Mannino from the University of Colorado Denver. Rather than try to explain the paper myself, here’s the summary from the Independence Institute website: To improve understanding of public K-12 retirement compensation, this Issue Paper provides historical estimates using a substantial sample of retiree characteristics and salary histories. Deferred retirement compensation from a hybrid defined benefit plan is defined as the difference between an employee’s estimated retirement account balance and the greater pension value she expects to receive. When accounting for K-12 employee compensation, large amounts of deferred compensation should be included. For the 846 Denver Public Schools retirees in the sample, average lump sum deferred compensation is $627,570. Wow, it would take a lot of piggy banks to put that much money in. But I think […]

Reforming how teachers are paid to better match the goals that benefit students in our education system is a tricky business. On one hand you have some people who oversimplify the issue of “merit pay” and think that it should be quite easy to implement a new system that has a positive impact on student achievement. (Of course, there is a significant grain of truth in what they advocate, as an analysis of a pilot program in Little Rock has shown.) On the other hand, you have entrenched opposition within elements of the education establishment who find it too hard to overcome the inertia that keeps the lockstep salary schedule in place. Paying teachers strictly for years of service and degrees is inefficient and ineffective, but a variety of obstacles are readily summoned to trip up any momentum toward compensation reform. That’s why it’s great news to read about a Colorado school district like Eagle County that at least has been working outside the box for the past six years to re-design teacher pay. Most noteworthy is that their system not only includes significant rewards for boosting student test scores, but also that it’s showing broader support among district teachers. […]