As Pension costs rise, public colleges pay the price
The Illinois and California pension systems are featured in this Chronicle article,
AS PENSION COSTS RISE, PUBLIC COLLEGES PAY THE PRICE
Josh Keller
Public colleges tend to offer less in salaries than their private counterparts do. But many of them have had a secret weapon to retain faculty and staff members that private colleges cannot match: generous pensions.
Pensions have narrowed the compensation gap between public and private colleges. They can function as “golden handcuffs,” rewarding workers who stay for decades and keeping them from fleeing to competitors during their most productive years.
Read more at the Chronicle…
