Myers reports on state laws affecting the pensions of Chicago Public School teachers. He discusses the politics behind unions involved in the decision making process and their important role in determining a balanced budget. According to Myers, the Caucus of Rank and File Educators (CORE) is a recent contender "whose members say the Pension Board needs better...
Teacher Pensions: A Background Paper
From the Abstract:
"This background paper aims to foster understanding and informed discussion of public education pensions. It describes the current system; examines concerns about funding, sustainability, equity, and effectiveness; and discusses pension plan structures and some options for pension plan redesign. ... This paper raises some questions about objectives for teacher pension plans that merit re-examination, offers an initial look at some of the options available for rethinking teacher pension design, and describes one option, the defined benefit cash balance plan, that to date has received little attention in the public sector."