Welcome to the latest edition of This Week in Pensions! This is the news you need to know in the fight for a secure retirement. We have gathered the top stories about pensions and retirement security from the previous week.
This week marked the conclusion of National Retirement Security Month. Serving as a reminder that retirement entails substantial financial considerations and demands meticulous planning, we revisited our earlier blog post, “Retirement Is Expensive.”
Throughout this month, NPPC raised awareness about retirement insecurity by sharing a plethora of informative graphics related to retirement facts on our social media pages. We engaged our audience through insightful retirement-themed polls and published blog articles that spanned topics from the attainability of retirement for Americans to addressing the retirement savings gap.
The primary goal of our efforts was to shed light on the issue of retirement insecurity in the United States. More importantly, we aimed to stress the vital importance of individuals taking their retirement planning and savings seriously.
By doing so, we hope to empower individuals to make informed decisions and prepare for a secure and fulfilling retirement.
Alaska Governor’s Office Blocks Teacher Pay Report Publication
Alaska’s Governor Mike Dunleavy’s staff prevented the publication of a Department of Labor and Workforce Development report on teacher pay, potentially tarnishing the nonpartisian reputation of the division responsible for state economic data. The report, originally slated to be the cover article in October’s Alaska Economic Trends, revealed that while Alaska’s teachers were once paid significantly above the national average in the 1980s, they now earn only 111% of the national average, dropping to 10th place in the nation. The decision to withhold the article raised concerns about objectivity and nonpartisanship within the department, “objectivity is kind of fundamental to who we are and is our value to the state. We serve every governor the same as the previous governor, and that’s why I think it matters,” said Dan Robinson, chief of the Alaska state research and analysis section. You’re either nonpartisan or you’re not.”
The article’s title, which suggested a loss of wage advantage, may have contributed to the politically-motivated decision. This development occurs amid severe challenges in hiring teachers in Alaska and debates over education funding. The article was eventually excluded from the October issue due to concerns about neutrality and fairness, according to Department of Labor Commissioner Cathy Muñoz, a partisan political appointee.
This kerfuffle appears to be related to efforts to restore a defined benefit pension in Alaska to help recruit and retain teachers and other government workers. Be sure to check back next Friday for the latest in the fight for a secure retirement! For now, sign up for NPPC News Clips to receive daily pension news from across the country directly to your inbox.