Hess, Frederick M.; Squire, Juliet P. - In: Education Finance and Policy 5 (2010) October, pp. 587-616
The tension at the heart of pension politics is the incentive to satisfy today's claimants in the here and now at the expense of long-term concerns. Teacher pensions, in particular, pose two challenges. The first is that political incentives invite irresponsible fiscal stewardship, as public...