Education Commons^™

Teachers’ Knowledge About And Preparedness For Retirement: Results From A Nationally Representative Teacher Survey, Dillon Fuchsman, Josh B. Mcgee, Gema Zamarro

Education Reform Faculty and Graduate Students Publications

Adequately saving for retirement requires both planning and knowledge about available retirement savings options. Teachers participate in a complex set of different plan designs and benefit tiers, and many do not participate in Social Security. While teachers represent a large part of the public workforce, relatively little is known regarding their knowledge about and preparation for retirement. We administered a survey to a nationally representative sample of teachers through RAND’s American Teacher Panel and asked teachers about their retirement planning and their employer-sponsored retirement plans. We find that while most teachers are taking steps to prepare for retirement, many teachers …