Changes in government accounting standards mean many of the nation’s public employee pension funds will have to show they owe more money on their books than they’re currently reporting. The changes likely will have only a small impact on Georgia’s retirement fund, however.
Georgia allows retired teachers to return to work to so that classrooms are never short of educators. But allowing retirees to teach doesn’t cost extra, because the state still has to pay someone to do the job, according to a state audit. Although demand for teachers is down because of the recession, the state still has shortages in math, science, special education and foreign languages teachers.