This Week in Pensions: March 6, 2026

Posted by

on

Celebrating Women Who Shaped Public Service

In honor of Women’s History Month, we highlighted four women who broke barriers in the public sector and helped shape stronger communities for future generations.

From education and public health to civil rights and social reform, these leaders demonstrated how public service can transform lives.

As we celebrate Women’s History Month, we also recognize the importance of protecting the retirement benefits that millions of public employees rely on after dedicating their careers to serving their communities.

Read more in our latest blog.


Podcast: Alaska Teachers of the Year Leave State After Two Decades in the Classroom

Last week, we discussed the op-ed, which reported that two award-winning Alaska educators—Catherine Walker, Alaska’s 2024 Teacher of the Year, and Ben Walker, the state’s 2018 Teacher of the Year—say they are leaving the state after 20 years in the classroom, citing worsening conditions in public education and uncertainty about the future.

This week, on a compelling episode of the East Anchorage Book Club podcast with Andrew Gray, the couple spoke about the challenges they have faced as educators in Alaska—challenges that ultimately led them to relocate to Washington State with their family after spending their careers teaching in the Anchorage School District.

The couple began teaching in 2006, just as Alaska eliminated its defined benefit pension for new public employees.

“We actually were offered our positions during Tier 2,” one teacher said. “And then right before we started teaching, they switched it to Tier 3. We’re the very first group that has no defined benefit.”

While they say they love their profession, the teachers described growing uncertainty about their long-term future in the state.

“I absolutely love my job,” Cat said. “But I just need to be planning for my future.”

They also pointed to ongoing budget cuts and declining school resources.

“We’re in the educational Hunger Games at this point,” Ben said, describing how districts are increasingly forced to pit programs against each other for limited funding.

The educators said their decision ultimately came down to their children’s future.

“We’re adults—we could tough it out,” Ben said. “But our youngest is entering high school. We want her to have a robust high school experience.”

Their departure comes as Alaska lawmakers debate HB 78–legislation that could restore a defined benefit pension system for public employees, a policy that supporters say could help address recruitment and retention challenges across the state’s public workforce.

Listen to the full podcast.

Two Alaska Teachers’ Departures Signal Broader Concerns

The decision by Alaska Teachers of the Year Ben and Catherine Walker to leave the state has also sparked strong reactions from educators and community members.

In a letter to the editor published in the Anchorage Daily News, retired Alaska teacher and counselor Thomas R. Schmidt said the news of the couple’s departure reflects deeper challenges facing the state’s education system.

“Two married, homegrown, dedicated teachers, both recipients of Alaska Teacher of the Year… are leaving our state for greener pastures,” Schmidt wrote.

Schmidt warned that the loss of experienced educators should serve as a warning sign for policymakers, noting that many public employees are reconsidering their future in Alaska.

“With factors such as increased class sizes, school closures, program elimination, disrespect toward the profession, inadequate compensation and retirement benefits, who can blame them?” Schmidt wrote.

Legislation Addressing Pension Spiking Advances in Kentucky

House Lawmakers in Kentucky have passed legislation aimed at addressing pension spiking, a practice in which an employee’s final salary is increased near retirement, potentially resulting in higher pension benefits.

According to reports from local media outlets, the bill seeks to limit the circumstances under which last-minute pay increases can be used in calculating pension benefits. Supporters of the measure say it is intended to ensure fairness in the system and prevent manipulation of retirement benefit formulas.

Pension spiking policies have been debated in several states, with lawmakers and pension administrators weighing how to balance benefit integrity with existing compensation practices.

The legislation now moves forward as part of Kentucky’s ongoing efforts to monitor and adjust policies related to the state’s public retirement systems.

Be sure to check back next Friday for the latest news in the fight for a secure retirement! For now, sign up for NPPC News Clips to receive daily pension news from across the country directly to your inbox.