August beach reading for you: In a new paper from ES Chad Aldeman and I take a look at the teacher pension issue (pdf). Punchlines: Big fiscal problems with a few culprits (and you can’t just lay this one at the feet of the unions), the current system out of alignment with the emerging workforce and efforts to improve human capital in education, but all the reform options have trade-offs as well. Complicated. Political. Interesting.
But this is a looming fiscal crisis in more than a few states, some are basically already there, and it’s an issue that demands attention.