Tag Archives: Social Security

Our own appointed U.S. Senator and former Denver Public Schools superintendent Michael Bennet conducted a recent Q & A on federal education reform with Linda Kulman for Politics Daily. Here’s his answer to one question about incentives not matching objectives in the education system: We have not updated our theory of human capital, which is a fancy word for saying how do we attract and retain people to public education, since the labor market was one where women had two professional choices: being a nurse or being a teacher. We say to people, “We’d like you to come be a teacher, we imagine that you’re going to teach “Julius Caesar” every year for the next 30 years, we’re going to pay you a really terrible wage compared to what you could make doing almost anything else. … The way most school districts and states pay teachers in this country (is) if you leave any time in the first 20 years, you leave with what you’ve contributed to your retirement system … but if you stay for 30 years, you (get) a pension that’s worth three times what your Social Security is worth. No matter what else you want to do, […]

Yesterday morning some of my Education Policy Center friends were down at the State Capitol (now, like me, they can hardly get out of their driveways… snow day!). They joined Dr. Michael Mannino, author of the Independence Institute report Deferred Retirement Compensation for Career K-12 Employees: Understanding the Need for Reform (PDF), for his informational presentation to the joint House and Senate Education Committee. New Ed News Colorado reporter Nancy Mitchell provided some colorful coverage of yesterday’s unusually well-attended proceedings (hey, I don’t even want to get out of bed at 7:30 AM): Rep. Michael Merrifield, D-Manitou Springs, drew applause from a standing-room only crowd when he closely questioned Michael Mannino, a University of Colorado professor who helped write the report. “Is it possible that your phrases like drastic tax increases and meltdowns could be fear-mongering on your part … in support of your political agenda?” Merrifield asked, an apparent reference to the report’s sponsor, the Independence Institute, which bills itself as a “free market” think tank based in Golden. “Could it be that you’re making an assumption to support your personal views that teachers shouldn’t have a defined benefit plan?” Merrifield asked at another point. “I want people to […]