A distant view shows a mountainous landscape with sloping peaks, green trees in the foreground, and a cloudy sky above.

Two years into the COVID-19 pandemic, school districts across the country are facing serious shortages of qualified teachers and other staff, and those shortages have led to widespread concern.



In <a href="https://www.nirsonline.org/wp-content/uploads/2022/02/FINAL-2022-Americans-Views-of-Public-School-Teachers-.pdf" target="_blank" rel="noreferrer noopener">a recent survey from the National Institute on Retirement Security</a> (NIRS), 84 percent of people surveyed said they’re worried about shortages of teachers and school staff, and 81 percent said they’re worried about people leaving the profession.



The educator shortage was the topic of a recent forum held by the <a href="https://www.pebc.org/" target="_blank" rel="noreferrer noopener">Public Education and Business Coalition</a> (PEBC), a Denver-based organization that works with school districts, teachers and business leaders across the country to improve public education. Colorado PERA was a sponsor of PEBC’s Colorado Education Workforce Forum.



At the forum, state education officials, district superintendents and business leaders came together to discuss the sobering reality of Colorado’s educator shortage and brainstorm solutions.



In the 2020-2021 school year, there were nearly 7,000 teaching positions to fill in Colorado, but only about 3,000 graduates from teaching programs, according to PEBC. In addition, school districts across the state are dealing with a 16 percent turnover rate and per-student funding that’s well below the national average.



Teacher pay is a major factor in discussions about shortages, and so are benefits — particularly retirement benefits. In the NIRS survey, 90 percent of respondents agreed that teachers and school staff should have access to a pension for retirement security, and 94 percent agreed that elected officials should ensure those pensions are adequately funded.



<h2 class="wp-block-heading">The role of Colorado PERA in attracting and retaining teachers</h2>



Decades ago, it was common for many workers to receive a defined benefit (DB) retirement plan — also known as a pension — from their employer. Today, public employees like teachers and other school employees are among the few who still have access to DB plans. Most other workers have to rely on defined contribution (DC) plans like 401(k)s to save for retirement.



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
Related: <a rel="noreferrer noopener" href="https://peraontheissues.com/states-consider-reviving-closed-pensions-in-effort-to-recruit-retain-public-workers/" target="_blank">States Consider Reviving Closed Pensions in Effort to Recruit, Retain Public Workers</a>
</blockquote>



PERA’s hybrid&nbsp;defined benefit&nbsp;plan is a particularly strong recruitment and retention tool because of the value it offers to employees regardless of the length of their career. PERA’s plan design has evolved to serve both long-service employees as well as those who only work for a short time in public employment. For example, every dollar a PERA member contributes to their account is theirs, and they can take those funds with them when they leave PERA-covered employment. This plan design benefits Colorado’s public employees, their employers and the valuable services delivered to Colorado taxpayers.



In the 2022 legislative session that just wrapped up in May, Colorado lawmakers tackled the issue of educator shortages with <a href="https://co.chalkbeat.org/22899633/colorado-education-school-bill-tracker-2022" target="_blank" rel="noreferrer noopener">a number of bills</a> to increase public school funding. They also <a href="https://peraontheissues.com/2022-proposed-legislation-status/" target="_blank" rel="noreferrer noopener">passed two bills</a> that allow some PERA retirees to return to work in school districts dealing with critical shortages.



Solving the teacher shortage in Colorado and elsewhere will require creativity and commitment, and Colorado PERA remains a valuable tool for school districts looking to hire and keep qualified educators.

Pensions a Valuable Tool in Efforts to Solve Teacher Shortages