Danielle Zanzalari, Ph.D. and E.J. McMahon: A Smarter Retirement Plan for New Jersey Teachers (and Taxpayers)

Welcome to the GSI Briefing podcast – hosted by Audrey Lane, president of the Garden State Initiative. In this episode, we dive deep into the pressing issue of New Jersey’s underfunded teacher pension system. Joining us are Danielle Zanzalari, an Assistant Professor of Economics at Seton Hall University, and E.J. McMahon, Adjunct Fellow at the Manhattan Institute for Policy Research. Together, they present a groundbreaking report, “ABP: A Smarter Retirement Plan for New Jersey Teachers (and Taxpayers),” which proposes a radical solution: introducing a Defined Benefit Model (DBM) as an alternative to the existing Defined Contribution Model (DCM). Zanzalari and McMahon argue that the current system is failing teachers and taxpayers alike. By offering teachers more choice in their retirement planning, the DBM can address the teacher shortage, improve pension fund solvency, and alleviate New Jersey’s fiscal woes. Learn more about the benefits of the DBM, the challenges of the current system, and the potential impact on both teachers and taxpayers. Tune in to this insightful discussion and discover how New Jersey can create a more sustainable and equitable retirement future for its educators.