Reply to What do you think a MCPS makes a year?

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Reply to "What do you think a MCPS makes a year?"

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[quote=Anonymous]Actually, not getting a COLA is indeed equal to a pay cut.  It's a reduction in the real purchasing power of your paycheck.  If inflation is running at 3%, then $100 today buys $97 in goods next year, and about $94 worth of goods in two years.  Just because "few people got COLAs" (Fed workers didn't get COLAs either), doesn't mean it's not a real pay cut.

And what's with the Heritage link to state teacher unemployment stats -- what does that have to do with the price of beans?  And as for the incomprehensible blurb comparing DBs and 401(k)s, author Biggs doesn't exactly have a stellar reputation in the research world, so I'm willing to bet the estimates of the amounts required for a given payout don't include the cost of managing active investments in a DB or 401(k), which are much higher than the costs of managing index funds in a public pension system, and (b) accounting rules do make for important differences between pension plans, but accounting rules have very little to do with payouts and everything to do with financing, and in any case private DB and 401(k) plans have wonky accounting rules too.[/quote]

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