When funded correctly defined benefit pensions are
Posted on: July 5, 2019 at 20:37:44 CT
DHighlander NWMSU
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self sustaining. The Missouri and KC systems are in good shape because they have been properly funded from both ends. Defined benefits run into problems when the government side defers payments.
The other thing that makes these systems stable is that teaching has a high early turnover rate, especially in districts like KC, and it takes five years to be vested. All of those failed teachers help pay the retirements of those who stick it out.