Third Way Perspectives

Subscribe via RSS

Archive for September, 2014

Young Teachers Deserve Retirement Protections, Too

September 24th, 2014

by

How does it feel to lose $11,000 and know you’ll never get it back? This past week I discovered that I lost just that amount in retirement savings because like roughly half of America’s young teachers, I taught for fewer than five years.

Randi Weingarten, president of the American Federation of Teachers, made a startling admission on a recent segment of “Morning Joe.” She said fighting teacher tenure laws was pointless because most teachers in American classrooms today have less than two years of teaching experience. While that figure is a slight exaggeration toward the low end, Weingarten is right in recognizing that the teaching profession looks drastically different — and newer — from before.

Despite this, most teachers still find themselves paying into a pension system that is a relic left from a time when educators stayed in the same job in the same place for an entire career. Teachers in most states receive defined benefit pensions that are based on a backloaded formula that factors in salary and years of service: teachers receive minimal benefits in their early years, but are rewarded quickly and heavily as they near retirement age. The rules of these defined benefit plans reward longevity and punish mobility — even mobility within the profession between school districts or states. It works if you stay in one place and keep teaching, but doesn’t if you switch careers or move out of state, which is what I did.

When I left a Los Angeles Unified School District classroom after three years and moved to Washington, D.C., I learned that three years of employer contributions to my retirement became three years of donations to someone else’s. Since California requires five years of teaching to vest in a pension (19 states require 10 years), I was only entitled to recoup the 8 percent annual contribution that was deducted from my paycheck each pay period. I was forced to cede back to the pension program the 8.25 percent of annual contributions that were made — ostensibly on my behalf by my employer — an amount totaling more than $11,000. Invested very conservatively, this money would be worth at least $35,000 when I get ready to retire one day — but realistically several times that based on historical returns or what state pension funds expect to earn.

Read the rest of this entry »

A Promising New Approach on Assault Weapons

September 12th, 2014

by

Just four months after 20 students and six teachers were gunned down at Sandy Hook Elementary School with an AR-15-style Bushmaster semi-automatic rifle, 60 Senators voted down an amendment to ban assault weapons. It was a heartbreaking moment for many of us. For decades, advocates in the gun safety movement have held up the assault weapons ban as a standard, the marker by which they measure any progress. And it was the first piece of legislation most Americans called to mind in the days after Sandy Hook—it seemed unimaginable that in less than 5 minutes, 154 bullets were fired and 26 innocents were left dead. But if in the wake of one of the worst mass shootings in American history, an assault weapon ban was still out of reach, what does that say about its future? After all, no one thinks the Senate is going to get any bluer after the elections in November.

It’s difficult to acknowledge that an assault weapons ban can’t pass anytime soon—in fact, to many it could feel akin to admitting defeat. But today, the Center for American Progress (CAP) courageously released a new report that did just that, and by doing so, they have reframed the debate, turning attention to a whole new set of policies that have an exponentially greater chance of enactment and would greatly reduce gun violence—including violence perpetrated by assault weapons. The report, Assault Weapons Revisited: Policy Options for Regulating Rifles, Shotguns, and Other Firearms 20 Years After the Passage of the Assault Weapons Ban, recognizes the limits of our current politics, but instead of conceding the issue, it offers a smart new framework for regulating some of the most dangerous guns in America. The current political impracticality of a ban does nothing to diminish widespread support for other gun safety policies that can save lives if we approach the problem differently, and they offer 6 specific ways to do so:

Read the rest of this entry »