More K-12 teachers in SC can earn bonuses in $5M pilot program
COLUMBIA — Teachers in dozens of public schools across South Carolina are newly eligible for bonuses if their students show enough academic progress.
The state Department of Education recently announced choosing 37 schools from among 118 that applied to participate in its pilot program. They will cumulatively receive $5 million.
The size of teachers' potential bonus is unclear. District officials will distribute their allotment to teachers based on their students' test scores.
The department hopes the program becomes a statewide model for rewarding excellent teachers and keeping them in the classroom.
'This initiative is about more than just pay — it's about rewarding the educators who are moving the needle on student growth in the foundational skills of reading and math,' state Superintendent Ellen Weaver said in a news release. 'When we recognize and support the very best teaching, we set a new horizon for what's possible for students in every corner of our state.'
The latest experiment may accomplish through bonuses what legislators and state superintendents of both parties have attempted unsuccessfully for two decades: paying teachers statewide based on their effectiveness in the classroom.
Teachers in South Carolina are paid by their academic degree and years of experience. Teacher advocacy groups have long argued it's impossible to fairly construct a pay-for-performance model recognizing that every class is different, and some students enter their classrooms years behind.
Weaver first called for a statewide, voluntary incentive program in 2023. The Legislature provided $5 million for a pilot this school year.
The state budget plan approved by the House earlier this month would fund another $5 million for the coming school year. The bonuses would be in addition to the House's $1,500 boost in state-paid minimums for teachers. A final spending plan is still months away.
Weaver sees the number of applications as showing widespread support. In selecting which schools to include in the program, the agency gave priority to high-poverty schools with the highest teacher turnover, according to the education department.
Participating schools could choose different ways for determining teachers' bouses. All involve measuring how much progress their students make in meeting grade-level expectations for math and reading.
Roughly half of the 37 schools opted to use results on state-standardized math and reading tests taken by third- through eighth-grade students in the spring. Other schools created their own model for determining academic growth, which include scores on end-of-course tests taken by high schoolers.
Eleven schools adopted the Excellence in Teaching Awards model, which has been funded in high-poverty schools with private donations since 2021. It involves comparing students' scores on district-level tests they take at the beginning and end of the school year.
SC House budget plan raises teacher pay by $1,500 instead of $3,000
The awards were inspired by the four Meeting Street Schools, an innovative approach to neighborhood schools launched in Charleston by billionaire philanthropist Ben Navarro to prove all students can succeed. The donor-funded awards expanded to high-poverty public schools throughout Charleston County.
Last school year, the state Department of Education expanded it with federal aid to schools in Allendale and Williamsburg counties, which remain under the agency's control. Those schools are becoming part of the state pilot.
The money helps both teachers and students, said Josh Bell, president of Beemok Education, which manages the various education initiatives of Ben and Kelly Navarro. In the 28 schools that have given teachers bonuses using private funding since 2021, student test scores have improved and teachers have said they are more likely to stay in the classroom, he said.
'We deeply believe that teachers who work really hard and get these outcomes ought to be compensated for them,' Bell said.
Last school year, rewarded teachers in Charleston County received, on average, a $5,000 bonus, while the largest single bonus was $31,000, according to Beemok Education.
Sherry East, president of the South Carolina Education Association, reiterated teachers' concerns that paying teachers for students' performance puts too much focus on a few tests rather than students' overall improvement.
'Do I think there needs to be a way of recognizing high-performing teachers? Absolutely,' East said. 'Do I think it should be based on test scores? Absolutely not.'
An alternative to the test-based bonuses could be to offer incentives for teachers in hard-to-hire positions, said Patrick Kelly with the Palmetto State Teachers Association. Hawaii did something similar by offering $10,000 bonuses to special education teachers beginning in 2019, which helped the state put teachers in commonly hard-to-fill roles, he said.
If education officials want to continue doing performance-based bonuses, Kelly suggested the state instead encourage districts to look at teachers' end-of-year evaluation, which grades their teaching abilities as a whole instead of simply how well their students perform on tests.
Looking solely at whether a student is meeting or exceeding grade level can discount the work teachers do to help students who enter their classes while falling behind catch up, even if the students still don't get to where they should be for their grade level, Kelly said.
'If you're going to do (a bonus) on the basis of student performance, it cannot be done on test scores alone,' Kelly said.
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CNN
2 hours ago
- CNN
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2 hours ago
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Yahoo
2 days ago
- Yahoo
The rich already know how private equity mints money — and it's not from a 401(k)
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Should you be excited about this widening menu of investment choices? It depends on whom you ask. Some investment professionals like the idea of making private assets more available to more people. 'Historically, a number of private-market strategies have produced higher performance and additional diversification in defined-benefit pensions,' says Peter von Lehe, head of investment solutions and strategy at Neuberger Berman. 'It's appropriate that a broader range of investors have access to private assets in their defined-contribution plans because of the potential for return and diversification that these long-term investments can provide.' However, von Lehe cautions that these investments are illiquid and 'have a higher degree of complexity.' He says his 'most appropriate use case' for private-market investments is through professionally managed target-date funds or other funds that allocate a percentage of defined-contribution money to these complex but potentially more lucrative alternatives. Read: Here's something the rich know about managing investment risk that can help you, too Financial advisers have differing views on the role of private assets in client portfolios. Steven Roge, a certified financial planner in Bohemia, N.Y., says private markets are not for everyone. 'It's for people in the wealth-accumulation phase, say 40 to 50 years old, who have a long time horizon and a high risk tolerance,' Roge says. 'And they have to be sophisticated enough to understand it. We know if they don't understand it, they may not stick with it.' Of the firm's 300 clients, he says that 'only about a dozen' fit the bill for adding private-market assets to their retirement accounts. Even with the expanded investment options that may result from the White House's action, Roge remains a fan of passive strategies for most investors. 'Indexing is how they will win over the long run,' he says. 'But some clients want something that's special and different' as they seek market-beating returns. Given the illiquidity of private assets, Roge anticipates setting expectations for those clients who tend to monitor their portfolio daily — and who engage in frequent trading. 'These private investments may only price four times a year,' Roge says. 'That's not enough action for certain clients who track their portfolio like a hawk.' In his personal portfolio, Roge uses private markets — especially private equity — to diversify his holdings. He says he allocates about 25% to alternative assets. 'It helps me sleep at night knowing my portfolio isn't being pushed around by the volatility of public markets,' he says. Roge adds that he is not concerned about the current high valuations of private-equity funds. 'The valuations [of private-equity funds] are more realistic than the erratic valuations we see in public markets on a daily basis,' he says. Other advisers are more skeptical of the White House executive order. 'It's less being done out of interest for the general public and more for private industry lobbying the [Trump] administration,' says Alex Ruda, an adviser in Silver Spring, Md. The executive order undoubtedly pleases asset managers and private-equity firms. For years, they've wanted to attract retirement savers' money. These savers bear primary responsibility for managing their 401(k) compared with today's older retirees, many of whom receive employer-funded defined-benefit pensions. While some younger savers enjoy picking their investments, others dread it. 'The average American worker isn't equipped to navigate these complex [private-market] investments,' Ruda says. 'And they may fall prey to a little performance chasing given where we are in the market cycle' — as private markets have outperformed publicly traded stocks since 2000. Ruda feels so strongly about not incorporating private assets into client portfolios that he's willing to forgo newcomers who express such interest. 'If I wanted to broaden my client base, I'd have to play to what they want,' he says. 'But I don't have to do that. So I'd say to them, 'I'm not the best fit.'' Read next: Here's what it's like to invest in private equity — and why you don't want it in your 401(k) More: As private equity enters retirement plans, is it too dangerous for average investors to jump in? I'm a senior who barely survives on $1,300 a month. No way could I live on $1,000. 'I am a senior citizen': My car needs $3,500 for repairs, but only has a trade-in value of $6,000. Do I bother fixing it?