If you were a teacher starting your career in 2020 with a Master’s Degree and you planned on obtaining national certification after your third year of teaching, this is the salary schedule that was in effect.
A 30-year career based on this salary schedule alone would net you 1,543,840 dollars.
30 years would be required for retirement now at full pension.
If you were a teacher starting your career in 2008 with a Master’s Degree and you planned on obtaining national certification after your third year of teaching, this is the salary schedule that was in effect.
A 30-year career based on this salary schedule alone would net you a tad over 1,500,000 dollars.
The buying power of that $1.5 million in 2008 terms as opposed to 2020 would be:
All veteran teachers would have received longevity pay twelve years ago above and beyond what the salary schedule said. Not any more.
Oh, and now new teachers are not able to have retiree health benefits.
caffeinated rage 
While the article does a good job of illuminating the effects of inflation on insignificant salary increases over a workspan, the effects on a 30 year pension are worse because veteran pay has remained stagnant. I am eligible for full retirement benefits and have calculated that my pension is extremely close to the same as a teacher retiring in 2008 (including the loss of longevity pay) This is a difference of over 32% when adjusted for inflation. My actuarial data has me receiving a pension for 30 years @ a loss of 15K per year (vs 2008 retirees). This totals 450K over my retirement lifetime
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