> Counterpoint: teachers' pay is great, it's just backloaded in pension plans.
25% of teachers in Minnesota leave the profession within three years [1] so they see no pension. This sort of weed out is common in a lot of professions and it's probably for the best, but weed out careers often combine high starting pay to attract a large pool of candidates. Public sector jobs exchange low pay for a pension and stability. Teaching doesn't offer the latter.
I expect attrition is priced into the pension at some level, or worse, it needs these contributions to function at all. This is perhaps best for the profession, but it is systematic theft from another point of view.
Even if you don’t contribute to the pension with cash, capital is still allocated on your behalf into the fund that could have been paid to you directly.
>capital is still allocated on your behalf into the fund that could have been paid to you directly.
For taxpayer funded pensions, it is more like future taxpayers’ capital is allocated on your behalf.
Meaning, the actuary will calculate the government needs to set aside $2 today, the government leaders will say change that to $1 so the taxes are low today, and will end up actually contributing $0.50 because some of the funds were needed to make up for yesterday’s shortfall.
25% of teachers in Minnesota leave the profession within three years [1] so they see no pension. This sort of weed out is common in a lot of professions and it's probably for the best, but weed out careers often combine high starting pay to attract a large pool of candidates. Public sector jobs exchange low pay for a pension and stability. Teaching doesn't offer the latter.
1. https://www.educationworld.com/a_news/state-report-reveals-o...