Teachers have paid a heavy price. Robert Costrell of the University of Arkansas has calculated that the nation’s school districts spent an average of $1,312 per student for teacher retirement benefits in 2018, up from $530 in 2004, an increase of some $39 billion or nearly $12,000 per teacher. If that money went into teacher salaries, the average U.S. teacher’s pay would increase by nearly 20 percent.
Your pension is part of your pay. That is, teachers’ pay is already higher by that 20% that is the pension.