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[quote=Anonymous]http://www.heritage.org/research/reports/2011/10/assessing-the-compensation-of-public-school-teachers

Pensions vs 401k:
The Teachers Pension and Annuity Fund of New Jersey illustrates the scale of the issue. The fund reports that the average new retiree in 2009 claimed benefits at age 61 and received an annual benefit of around $46,500. To finance the accrual of these benefits, the fund required total annual contributions equal to approximately 8 percent of worker wages.[37] From this, one might infer that the implicit value of “pension compensation” is 8 percent of wages. However, a private-sector DB pension plan promising exactly the same benefits would need to set aside a much larger amount, equal to almost 19 percent of worker pay. A DC plan that sought to guarantee the same level of retirement benefits would need to set aside an even greater amount, about 27 percent of salaries. These disparate contribution rates are driven not by the generosity of the plans’ benefits themselves, but simply by different accounting rules.

[img]http://www.heritage.org/research/reports/2011/10/~/media/Images/Reports/2011/10/CDA%2011%2003/CDAteachercompensationchart1.ashx?w=500&h=553&as=1[/img][/quote]

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