Tax Credits / Flickr The University of Illinois history professor Steve Hansen didn’t need an academic analysis to tell him his retirement income was at risk in a state struggling to narrow an estimated $111 billion shortfall in its public-employee pension fund. So, in 2012, at 63, Hansen quit his university job to lock in his benefits before they could be watered down.
Topics: tax credits flickr the university steve hansen democrats while jane wellman college futures foundation california-based of pew center states california retirement plan ohio university texas center for studies higher education s james hyatt uc berkeley s according robert clark north carolina state university john barnshaw american association professors california board regents lawrence mcquillan dreaming resolve america s public pension nathan brostrom employee benefit research institute tiaa-cref state budget task force many michigan state harvard meanwhile nebraska david lechner now this the hechinger report university illinois hansen hansen california if in moody s a mcquillan public crisis but public universities health pensions costs money retiree tuition care percent billion colleges benefits students pay retirees cost obligations funding years fund institutions increase left vice annual trillion promises accounting problem faculty debt senior health-care effect increasing people higher-education schools instance estimates system private covered president eliminating obvious state-pension plans estimate adding year issues income shortfall place lose employees massive public-employee quality impact revenue balance services needed means huge separate increases liabilities rules put nationwide premiums faster don obligation finance full paid unfunded
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