impact of an aging population on education

IMPACT OF AN AGING POPULATION ON

EDUCATION

Challenges• Strain on Social Security, Medicare, and

Medicaid will exist.• Promotion of cross-generational

communication is a must. • Replacement of educator retirees, as

there will be an experience drain.• Creation of more industries to serve

older citizens.• Expansion of educational needs for

older citizens who look for later-in-life careers.

Conflict Theorists say:• More elderly populations suggest a

decrease in support for education spending; thus, passing school levies will be more difficult.

• More elderly populations will demand services for older citizens, while younger populations will appeal for funding to support children’s education; therefore, a competition for community services.

• Elderly populations will have more political clout, so the balance of issues will tip in their favor.

Ohio Retirement Changes

• Teachers and administrators pay an additional 1% of their salaries, bringing their contribution to 11% with an increase to 14% in three years. Many teachers who retire won't get annual cost-of-living adjustments until much later than previous retirees.

• Benefits based on the five highest years of earnings instead of three.

• Higher payouts for working 35 years eliminated.

• An increase in the age and years of service required for full benefits changed.