In January 2019, Dr. Nari Rhee and Leon F. Joyner, Jr. from the National Institute on Retirement Security released a new report evaluating teacher pensions over six states. Their research compares the value of a defined benefit plan versus a defined contribution or 401(k) style plan across six different retirement systems. Rhee and Joyner simulate the different types of plans and evaluate how teachers fare by the time they were ready to retire. 

Ultimately, the findings indicate that even the lowest-tier defined benefit plan yielded higher retirement benefits compared to a defined contribution plan. The findings also evaluate the costs of switching from a DB plan to a DC plan and how teacher pensions should be used as a retention tool. Read the full report here.