H(Thu Mar 18 02:02:28 2004) From ts100.vmfdle, X^*BB$7LJg#*)(+&'op1-,.q!0xx    ?((W2@D E ? W2`DE? >W2/ 3W2  $%,,& 0:(4U1t,;]F&,@ B, E/ $Q}T SJ)k,\ "Eq$d| g@, #$t?#",~`u$QD!,=!',g(>!( F&,% "(<P!,~S$$]E&&,c,KABt? (V1`N,9P+( X7b,V(2,V:2,8,A4($?^M? + . _,<bV2_|,G0\L,M?:? [c&i,d+< ,n{!Gu,wV1,}T0b,mV2,@R/ ,U,IWZ"j(z?"@ ,ai,$+T,S$ 6 `AA? yg$; ,(R xym%(K5(ZxBBW? ,, /ec,9p!e-DJS/0,LBV1*s,ONw TL*1s,[N} `vNY,z e$o @? wJ)$JF),'29o$J),#$I<!j,$>V"O,!$ :@? (%#(p @H? ZR*/5,x '(!&(4Y,d.`g,2.%?C(? 23(7`, P36(+6^,8$0(C3(j,K~h,[$%*l,d$/,m,m$s>(yA#E( NUI(c$@"m=(-]z,="/,[Jt~, G(,,. ,=.c{,$$+ $}$  a$148(%TT0 ,,Kk*,$3Td0$='H(DL*,JL*$UK*8$^CB9$"B ,gYBI$K,p ;,w| z _ _$1( ~ (FH(,: $R/;F HC / AHC@ I $?e? ?l?  Af? < ( u$Ps$L:]? 3? "6St$)Zx$3.JP),; Vv$I;M<(QcXw$\$eU$mA#Z,v:$}$  (uP-@(RP-B(+C( $.<p,/P-D(?O,t, U,p$;@@? $=!r,  J4)L,H'(!0A(.&$5M$;O_$C{$M($TIT0$tIC ig "$p8C%5$z;r $sB$$% 3$(I )$w A? /=!p,=!o,,# m,#n,<=! l,X<(!k,#i,K"j,  (FHe,y$ @4? ?($(h@'#,'Sv$.@K# (8S000,;xV 2,?\ 5f(FJ!y(LI(~$VS80,[| Pc,c a-j P(r? vT0PFVGC Q(F&F ,Z$u$J<)1,oQz.$_H(-V1,?,Tb(F&,US/,R/h,;S,F%'> -G' (S 0,?!^ A? *!(5!(@!(I'"o,Q@"?Wx? ^O fE; ,or"/YJ,w?5i (l,d,3C((/.\,"[[K$*k W(e$W'J)(2O,; r},@4#,#]L,c%m %,4$ _M,g+o 9wU,$N*( $$ (eP, @*gQ, )AH-$ %s0o$. 3-(? 21(H y0d2(U '5(_ &$h$h \&?G-q T0O$x ,_]$ 9*f$ H'k$ >)'cO$ 5L*$ '!  1.( +/( (  ~; x, +"  ]-Kr$ KR"/hR$ ,jZ, -W$ @-( -$ .69( :,) U)1q,4 KUN1$HzD$: 61.n,D 3V1,M CG'-X SB0,c `/h,l [2jy,~ 9a- B8q,( \0?$ )8\X$ V12, 0|$ }1( 1`$ 1 b$ 1:;( 2) $ F2E $ NO2(& lUi1P,* T1(,2 T1+,8 s3sS,> 5uT-F =4aN,M 3 T 4=F-\ e6qR-a 6qWI,f ;7Z,s "B $.,w U, g7V$ 9[$ wUs1, g8Y- 7MW% ST0$ U1$ 927( +:( W: $ v: $ :" $ :L ( :3 $" I+)8:(. E&$8 < ?Yy? 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W2;EPCH%:zD 'Vu2EB @Vd2H@FB T l^- 0` 0,\/ 0tKY  0b!X 0b 0EZ# 0\) 0^' 0Z! 0 b 0va  0r]% 0_ 0Y 0WW 0mX 0_+ 0[1 0> 07` 0x`  0|\|<l\ ,l<,LL|,l\ l | |L|l\L|  l  | \ l L < ,  \LL < l|| \l || ,\<l,\ |l, LlL,l<   \, <,|| , L L l<\|,\,, , \,,<|<  < L \ L<l<,, \|\  |  , L < \     <|,l   <|\ L< \< L   ,<,<l|lL\ L \L | < |l|\\l<LlLL l ,l,<\L|<L <\, L  l< L<<l  | \| \ l <l,<L,| Lll L,\|| ,Ll\l\<\ ,LC7LSUMPRODVMINVMAXTimeINITIAL TIMEFINAL TIMETIME STEP SAVEPER.ts10036teacher worklife fica taxIF THEN ELSEage stepperteacher stop work ageteacher fica tax-$ -Year.Your Worklife Disposable Income Hourly RateZIDZ"Your Worklife Disposable Incomeyour annual hours at work -hour2Teacher Worklife Disposable Income Hourly Rate&Teacher Worklife Disposable Incometeacher annual hours at work"Teacher Worklife Adjusted IncomeJ"Teacher Worklife Total Compensation (less health ins. contribution)"6teacher inflation adjusted health insurance rebate*teacher inflation adjusted total hi cost"teacher contribution to pension*teacher inflation adjusted work expensesimputed pension contribution2Teacher Worklife Disposable Income With Benefits"teacher worklife income taxes*xyour retirement savings annual deposits.delay start of retirement savings depositsagexage stepperxyour retirement counteryour salaryyour pension savings"xyour inflation adjusted salaryadjust for work hours -Dmnl6xyour employer contribution to your private pension*employer private pension contributionaddition to savings6put disposable income above teacher's into savings"xYour Worklife Disposible Income&Teacher Lifetime Disposable Income""delay start-work for teacher"your hours per weekyour weeks per yearteacher hours per weekteacher weeks per yearTeacher Retirement Income&estimated teacher pension benefit&"teacher post-retirement earnings":teacher SS pension estimation based on highest earnings*teacher big picture retirement income6teacher inflation adjusted post retirement earnings"teacher retirement graph dataretirement selectorteacher SS earnings&teacher inflation adjusted salary:teacher highest earnings limited by maximum earnings capXIDZ2teacher SS retirement salary constant dollars"2003 constant dollars"J"At what age will the teacher begin taking Social Security payments?" -years&teacher social security begin age*teacher Social Security pension factorteacher pays social security deathage 65 lookupSocial Security inflatorage 67 lookupage 66 lookup&your lifetime earnings graph datalifetime earnings selector"Your Lifetime Total Compensation&Your Retirement Disposable Income2Your Worklife Disposable Income With Benefits"Your Lifetime Disposable Income&teacher lifetime earnings graph data&Teacher Lifetime Total Compensation&Teacher Retirement Disposable Incometeacher graph data 4graph selectorteacher graph data 2"Teacher Lifetime Hours at Worksalary selectoryour stop work age*"teacher total post-retirement hours"teacher total hours at worknoninflated taxable income"xYour Worklife Adjusted Incomeyour salary multiplier2"xyour inflation adjusted non-taxable benefits"xyour fica tax*xyour inflation adjusted work expenses2"xyour contribution to work-provided pension"*xpension contribution tax deduction 1xyour worklife income taxes>estimated tax deduction on inflated salary going to savings"xyour worklife income taxes 1"xyour worklife income taxes 1 0your graph data 4your graph data 2Your Lifetime Hours at Workyour total hours at workyour retirement graph data2your estimated employer provided pension benefit."your contribution to work-provided pension"6your SS pension estimation based on highest earningsyour fica tax.your retirement income from private savings*your retirement savings annual deposits&initial retirement savings balance6your employer contribution to your private pensionteacher graph data 3teacher graph data 1your graph data 3your graph data 1F"average hourly rate: your lifetime disposable income with benefits">Your Accumulated Lifetime Disposable Income With Benefitsyour retirement plansyour savings exhausted&your ret sav withdrawal start ageYour Retirement Savingsfuture interest rate*your retirement savings contributions"private savings withdrawal rate""teacher post-retirement hours"""teacher post-retirement weeks"Your Retirement Income -hoursJ"average hourly rate: teacher lifetime disposable income with benefits">Teacher Accumulated Lifetime Disposable Income With Benefits"inflated teacher add-ons"general inflation rate&"inflation adjustment for add-ons"N"How much does the teacher earn in \"add-ons\" a year, at the top salary?"J"How fast do you expect \"add-ons\" to increase relative to inflation?":teacher big picture hourly rate for accumulated valuesshow accumulated valuesshow hourly ratebig picture selector"teacher big picture accumulatoryour big picture data"your big picture compensation*"Use inflated or 2003 constant dollars?"your big picture costs&your big picture retirement incomeyour retirement income taxes6your big picture hourly rate for accumulated valuesyour big picture accumulator*your big picture hourly rate selector"teacher big picture compensationteacher big picture costs"teacher retirement income taxesteacher big picture data*teacher big picture hourly rate selector*teacher inflation adjusted summer income"your inflation adjusted bonuses2"your inflation adjusted non-taxable benefits""your inflation adjusted salary"your health insurance benefit.your annual health insurance contribution*your inflation adjusted work expensesyour worklife income taxes.teacher annual health insurance contribution"your health insurance graph datahealth insurance selector.your health insurance net benefit adjustmentcovered by health insurance"self-employed"B"inflation adjusted work-provided health insurance total cost"2your inflation adjusted health insurance rebateyour salary graph datayour tax graph datateacher salary graph data&teacher health insurance graph datateacher tax graph dataR"How much do you currently have in your private retirement savings accounts?"ny teacher pension cola&teacher pension benefit percentageteacher base pension benefit&ny teacher pension cola computation&teacher pension benefit final salary&teacher top salary rate of inflationtax selectorcompute your state tax"compute your pension state taxcompute your federal tax"compute your pension federal taxcompute teacher state tax&compute teacher pension state taxcompute teacher federal tax&compute teacher pension federal tax*inflation adjusted beginning teacher paybeginning teacher pay"your comprehensive graph dataview selectoryour graph data 5"teacher comprehensive graph datateacher graph data 5&"inflation adjusted teacher add-ons"delayed initial salary&inflation adjusted top teacher pay top stepexperienceequal steps computationexperience stepper&teacher annual rate of pay increaseteacher top payballoon salary computationteacher salary lookupdelayed future interest rateDELAY FIXED>"How much is the teacher's base salary on the first step?"experience stepper 1""teacher post-retirement income"percentage work hoursstart teaching agetotal health insurance cost"health insurance inflation rate*health insurance base year cost factor"experience/salary selector"your retirement counterBteacher inflation adjusted post retirement earnings calculation"teacher health insurance rebatesummer incomeclassroom supply expensesteacher hi contribution.teacher percentage hi contribution lookuphi inflated at general rateteacher hi rate of increaseJ"How many years do you want to delay the start of work for the teacher?"*Present Value of Teacher Worklife Salary*Present Value of Your Worklife Salary"delayed 2003 constant dollarsexclude federal income tax2"Do you want to include federal income taxes?"federal income tax lookup"teacher federal taxable pensionxcompute your federal taxxfederal income tax lookupxyour taxable incomex2003 constant dollars.xyour annual health insurance contributionxcompute your federal tax 0xfederal income tax lookup 0xyour taxable income 0x2003 constant dollars 0your taxable incomeyour federal taxable pensionteacher taxable incomexcompute your federal tax 1xfederal income tax lookup 1inflated taxable income"xcompute your federal tax 1 0"xfederal income tax lookup 1 0xgeneral inflation ratex2003 constant dollars 1"Retirement Income 2003 Dollarsxcompute your state tax 1xcompute your state tax 1 0"x2003 constant dollar lookup 1&xYour Worklife Total Compensation 0B"xinflation adjusted work-provided health insurance total cost""xyour inflation adjusted bonuses2xyour inflation adjusted health insurance rebate&xyour inflation adjusted salary 0"xYour Worklife Adjusted Income 0"x2003 constant dollar lookup 0age at highest salary&xyour annual rate of increase in pay&xyour top salary rate of inflation"xyour worklife income taxes 0xcompute your state tax 0"your retirement savings interestxNY income tax lookup 1&xpension contribution tax deduction*xpension contribution tax deduction 0xNY income tax lookup 0exclude NY income taxxNY income tax lookup 1 0&your annual rate of increase in pay(your top salary rate of inflationyour variable salaryyour variable highest salaryTeacher Accumulated SalaryFpercentage difference between your salary and the teacher's salaryYour Accumulated Salary2"stop your work-provided pension contributions"*"contribution to work-provided pension"your highest salary&xYour Worklife Total Compensation"health insurance contribution*your percentage hi contribution lookup*your hi contribution rate of increase"Your Worklife Adjusted IncomeF"Your Worklife Total Compensation (less health ins. contribution)"*xyour percentage hi contribution lookupxhi inflated at general rate&teacher net health insurance benefit"xhealth insurance inflation rateyour health insurance rebate&your net health insurance benefit>Teacher Accumulated Worklife Disposable Income With BenefitsJ"average hourly rate: teacher worklife disposable income with benefits"F"average hourly rate: your worklife disposable income with benefits">Your Accumulated Worklife Disposable Income With BenefitsB"hourly rate: teacher worklife disposable income with benefits">"hourly rate: your worklife disposable income with benefits"&pension contribution tax deductionannual bonus"other non-taxable benefits"other work expensesxFICA tax wage capxFICA tax wage cap lookupxcompute your state taxxNY income tax lookupx2003 constant dollar lookupxFICA tax lookupxcap or wages2"xstop your work-provided pension contributions"pay FICA tax6"stop contributions to your work-provided pension""xgeneral inflation t+1""xtime +1"future inflationxinflation lookup&xhealth insurance inflation lookup*future health insurance inflation rate&inflation adjustment for your salary.Your Accumulated Lifetime Disposable Income2Teacher Accumulated Lifetime Disposable Incomeb"Your Lifetime Total Compensation divided by Teacher Lifetime Total Compensation (percentage)"6"hourly rate: teacher lifetime disposable income"6"hourly rate: teacher worklife disposable income"2Teacher Accumulated Worklife Disposable Income2"hourly rate: your worklife disposable income".Your Accumulated Worklife Disposable Income&ny teacher retirement pension factor2"Do you want to include NY State income taxes?"."your salary for salary-based comparison""use ballooning salary schedule2"Teacher Lifetime After-Tax Total Compensation"6Teacher Lifetime Disposable Income in 2003 DollarsNY income tax lookup"teacher state taxable pensionteacher pension cola.percentage of teacher pension used for colastart teacher pension colayour state taxable pension:"Are you covered by health insurance through your work?"begin ss ret"Social Security pension factor2highest earnings limited by maximum earnings cap2state tax exemption on employer provided pension2Present Value of Your Lifetime Disposable Incomeyour pension COLA"your employer pension start age&percentage of pension used for COLAstart pension COLA"your pension benefit base salary*SS retirement salary constant dollarsSS earnings"teacher add-ons lookup"2"hourly rate: your lifetime disposable income"2"employer-provided pension payout percentage"*teacher state tax exemption on pension6Present Value of Teacher Lifetime Disposable IncomeR"What percentage of the teacher's pension is exempted from state income tax?"2"At what age will teacher pension COLAs begin?">"How many hours a week does the teacher work in retirement?">"How many weeks a year does the teacher work in retirement?" -weeks."Do you pay the FICA (social security) tax?"^"What percentage of the teacher's pension is used to calculate cost of living increases?">"What percentage of top salary is paid in pension benefits?" tier 1tier 1 pension factorarticle 19 service creditABStier 2 pension factor&"tiers 2, 3 & 4 age factor lookup""tier 3/4 pension factor"ny retirement tier"tier 3/4""start pension contribution step"end pension contribution step*teacher percent contribution to pensionFICA tax lookupteacher cap or wagesFICA tax wage capf"How much of a rebate, if any, does the teacher receive for declining health insurance coverage?"B"How much income, if any, will the teacher earn after retiring?""general inflation t+1""time +1"inflation lookup*inflation adjustment for teacher salary"Are you self-employed?"b"What is the total cost (employer + employee share) for health insurance paid by your employer?"."Your Lifetime After-Tax Total Compensation"cap or wages2Your Lifetime Disposable Income in 2003 DollarsFICA tax wage cap lookup""2003 constant dollar lookup"2"At what age will your private savings run out?"R"What rate of increase do you want to use for withdrawals from your savings?"2retirement savings earnings rate above inflationb"At what age do you start receiving cost of living increases on your employer-provided pension?"&health insurance inflation lookup2"How many weeks a year does the teacher work?"2"At what age will you stop working at your job?"^"How much does the teacher spend annually out-of-pocket for classroom supplies, on average?"^"How fast do you expect the teacher's percentage share of health insurance costs to rise?">"At what step does a teacher begin pension contributions?"J"What percentage of income does a teacher pay in pension contributions?"N"Do you want to use a ballooning salary schedule, which is based on S-G's?"2"Does the teacher pay the social security tax?">"How much income does the teacher earn during the summer?">"At what step does a teacher stop pension contributions?"Z"What percentage of the total cost do teachers contribute to their health insurance?"J"How much interest above the rate of inflation do your savings earn?"B"At what age will you begin taking Social Security payments?"V"With the first step equal to 1, what is the highest step on the salary schedule?">"How much is the teacher's base salary on the last step?"^"How fast do you expect your percentage share of health insurance contributions to rise?"R"What percentage of your pension is used to calculate cost of living increases?":"How fast do you expect health insurance costs to rise?"F"At what age will you start withdrawals from your private savings?"J"At what age will you start collecting your employer-provided pension?"6"How would you describe your retirement situation?"2"How many weeks a year do you work, on average?"B"What percentage of the highest salary does the pension pay?"F"How old will you be when you start receiving the highest salary?"Z"What is the annual dollar value of other non-taxable benefits you receive from work?"F"How much do you spend annually for other work related expenses?"^"If you have an employer-provided pension, how much do you currently contribute annually?"2"What is the highest salary you expect to make?"J"How much do you receive in annual bonuses and taxable pay supplements?"6"What future rate of inflation do you want to use?"V"How fast do you expect the top teacher salary to increase relative to inflation?"Z"How old will you be in the first year you don't have to make pension contributions?"V"How old do you want to say the teacher is in the first year of his/her retirement?"N"How fast do you expect the top salary to increase relative to inflation?":"Make comparison based on experience or gross salary?"2"How many hours do you work a week, on average?""What is your age?"R"What percentage of the total cost do you contribute to your health insurance?"&"At what age do you expect to die?"^"What percentage of your employer-provided pension, if any, is free of state income taxes?"b"How much does your employer contribute to your private retirement savings account per year?"F"How many hours do you think a teacher works a week, on average?""# of years work experience"&"What is your gross annual salary?"b"How much do you receive, if any, for declining health insurance coverage through your company?"N"How much do you contribute to your private retirement savings per year?" .Control*#teacher Social Security pension factor#*#ny teacher pension cola computation##teacher salary lookup#*#health insurance base year cost factor#.#teacher percentage hi contribution lookup#"#x2003 constant dollar lookup 1#"#x2003 constant dollar lookup 0#*#your percentage hi contribution lookup#.#xyour percentage hi contribution lookup##xFICA tax wage cap lookup#"#x2003 constant dollar lookup##xFICA tax lookup##xinflation lookup#&#xhealth insurance inflation lookup#"#Social Security pension factor##teacher add-ons lookup#&#tiers 2, 3 & 4 age factor lookup##FICA tax lookup##inflation lookup##FICA tax wage cap lookup#"#2003 constant dollar lookup#&#health insurance inflation lookup#7L 7L%%",| ,|7L7Ldl l,\ \ |l|L <l$ | \ l L < L <\| L  <\<L < |<  ,<< ,|L < \\\\L< E | |l , L ,<<|  | <  ,l   L\< l << l,|L\|,| , < <ll<,,\| | L < \ l  << <  <|  |  | | L <<\   \ ,|l | <  <l\L L | <l   | \,,< \ l \ | L < \<  | \ l    , \ l  l \l\< ,<|l l L | ,LL  \L \   \ , <l |\lL |,   |l L  | \ l L < < | \ <\|l| , L L , <\|\  |  L < \    <,l  |\ L \<  ,<l\\<LlLl,<\L|L <\ L l L<<l  | \  l,,|Ll \|| ,, \,  < ,  <  , L<,LLl,l\|| | L < L  \ | ll\,L| ,\, l \ < \\l<<\  l  \ ,L < \ L < \ \\<LL,<l|Ll  | |, , \\ |  LL < | L | L L L | L  , L, ,  L          , \  ,|      \, L, \||<  |l   L   <|<| L  \<< $L|  , L |  | < ,l   L\ <l| | | L < | L <  ,L<|,, ,,lll \ L|l<LL < <,\ < | \ L L, \| L  L   Ll|\  |\ \\<LLl\l< ,\|Ll< <<<\ \ |,l \\<\ L|, <\<\ |,\\ <\  |,  ,L |,\\ <\ ,<\L|L|, <\\L|,,  ,<\l\ <  , <        ,,\ ,l,< ,|l \ < ,| ,\        <\  l ,l <L l ,L , l ,, <L L,l ,\ < l ,\Ll l<<L | L  | \  l<<L| ,L L<|\| ,l,\|LLLL\,,l\|L ,L <  l  ,\ < < <<L  ,l ,\l<  \\<\ < \  l<T><\><d><t><jp><ml><n><l><o|><p42 ArialdIntroductionK63 ArialInitial ParametersK85 ArialpThe Big PictureK: ArialSalary ComparisonK<9 Arial?dHealth Insurance ComparisonK>; ArialTax ComparisonK@= ArialRetirement ComparisonKB ArialLifetime Earnings ComparisonKDA Arial)dWork Hours ComparisonKFC ArialDetailed Comparison GraphsKHE ArialdNotesKJG ArialVariable RenamingKLI ArialbGraph Data SelectorKNK ArialrYour Salary ComputationsKPM ArialuCountersKRO Arial]dFICA Tax & Pension ContributionsKTQ ArialAdYour WagesKVS ArialbdYour Tax ComputationsKXU ArialYour Pension ComputationsKZW ArialYdAggregate CalculationsK\Y ArialwHourly RatesK^[ ArialgTeacher Salary ComputationsK`] Arial_dTeacher CompensationKb_ ArialHdTeacher Tax ComputationsKda ArialTeacher Pension ComputationsKfc Arial=dTeacher WagesKhe ArialbSavings CalculatorKjg Arial2dSupplemental Graph EquationsKli ArialYdLarge Single GraphsK 5DGZft3w$H7LVQ sGSComparative Lifetime Earnings CalculatorVS h Version 1.00 from myshortpencil.com by Jerry@allthelaw.com:6 |k Copyright 2004 by Jerry Moore %This model may be distributed, AS IS, without any modifications, free of charge. There are NO WARRANTIES. USE AT YOUR OWN RISK. Damages are limited to a refund of the amount you paid, if any, from the person you paid it to. New York law applies and the situs of any law suits shall be in Schenectady County, NY. Before relying on the results produced by the model in a matter of importance to you, independently verify them using other means. This model is distributed for educational purposes, only.>9 xR  LEGAL DISCLAIMER>9 vJ Customer Support  Suggestions for modifications to the model and requests for customized models may be emailed to Jerry@allthelaw.com.:8 lB  Using the Model VThe model has many uses beyond its intended purpose to compare any worker's compensation to that of a teacher. It can be used for:JF  Comparing the career earnings of any two jobs., E Planning retirement61 T Designing a savings planRO  Making decisions on career paths and college educationb` / Learning about the interaction of earnings, benefits, taxes and savingsvq e Seeing the impact on lifetime earnings of various strategies for increasing compensationNI  Judging the economic worth of contract proposalsfb 9 Making choices among increases in salary, health care or pension benefitsZU  Learning about constant dollars, inflation and present value^Y ' Seeing the impact of inflation on earnings, savings and pensionsVR 9 Examining the tax impact of various compensation packages  ]The model comes preset to compare the lifetime earnings of a Scotia-Glenville NY teacher to the earnings of a person with an identical salary who makes the average contribution toward health insurance and whose only pension is social security. o To begin using the model, review the parameters set in "Initial Parameters." Click on "Initial Parameters," below.>; oF @ Initial Parameters 8` To run the model you should use the Vensim Model Reader or Vensim PLE Plus or better from vensim.com.NL  Estimating household worklife and retirement income `5: http://www.myshortpencil.com/schooltalk/messages/2522/2522.html?1077571646|Questions about using the model should be posted in the Lifetime Earnings Calculator Forum.:8 jB  Special Request {e&While running the model in SyntheSim mode, if you click the save icon on the toolbar, you can save the changes you made to the input variables. Give the file any name you'd like. Then, if you would be so kind, please e-mail the file to Jerry@allthelaw.com, along with your location (city & state) and the occupation used for the simulation. That way I can collect salary information. Your name will never be published.} [y http://www.myshortpencil.com/teachersalaries.htm|Model upgrades are located at here.   http://www.myshortpencil.com/schooltalk/messages/2522/2529.html?1077916635|Share your findings and results here. ")07>EL\cjq|\DcRY(ahLSZlew9 @ G N " 4 ; ] d $   S A  HO ]u| #`g`;BKR$} -?Tex!(H7L*( |R6  D5 |H\, S7A w d w [$ ]j" a ZA>; `Initial Parameters d" lSnF S*( T1   \d>T Lp\ <b ,d qTRM  Set the slider for the first year of the simulation. / To begin the simulation, click "Set" and then the "Automatically simulate on change" icon or . You may also want to set to 75%. You will not see any sliders until you are in SyntheSim mode. j6*Set the slider to the number of years work experience you have from 0 to 50. Use the time in service you have for your current job unless you have additional experience with other employers doing essentially the same kind of work. This variable is used to calculate the teacher salary step. It is also used to calculate the teacher's age whe s/he started working. :%Set the slider for your current annual gross salary from $11,000 to $200,000, including overtime. Don't include bonuses, supplements or other benefits. They will be entered in other variables. 9Set to zero if no. Set to one if yes. NOTE: Set the slider to zero if you decline health insurance coverage, even if you receive a rebate for declining coverage. l O.Divide your annual health insurance payroll contributions by the amount you entered above. Set the slider to that amount. If you purchase health insurance privately, set the slider to the percentage of the above amount it costs (perhaps exceeding 100). If you do not have health insurance, or have coverage through your spouse, set the slider to 0. NOTE: All contributions are excluded from income for calculating income taxes EXCEPT the self-employed receive a 60% deduction.^\ ? *Set to zero if no. Set to one if the FICA tax is deducted from your salary. If you pay the FICA tax, the model assumes it is paid on your entire salary up to the wage cap and you will receive Social Security benefits based on your entire salary. The model also assumes you have 35 years of Social Security contributions. l N2Some workers decline health insurance coverage in exchange for an increase in pay, which is a rebate of part of the savings realized by your employer. If you receive a rebate for health insurance, set the slider to indicate the annual amount. Otherwise, leave the slider at zero. NOTE: Not applicable for self-employed workers. Also, if you receive a rebate but then purchase insurance privately, DO NOT enter the rebate here. Rather, deduct it from your total health insurance cost. *The model will increase your annual contributions in proportion to increases in your salary until you retire. Up to $2,500 in 2003 (adjusted for inflation) of contributions to retirement savings pensions are exempted from income tax in the model. a6%Set the slider to the amount your employer contributes annually to your retirement savings, if any. This variable is used to calculate the value of your retirement savings and payouts. Its value is also imputed to teacher salary up to 25% of the salary. The justification is someone is providing the principal that generates teacher pensions and THAT's compensation. r` )Set the slider to the average amount of your annual taxable bonuses and supplements. NOTE: The model will increment the size of your bonus in proportion to the increases in your salary. These are increased at the rate of inflation. e fN "Set the slider to what you think the average rate of inflation will be in the future. 3% is a reasonable guess. For 1970 to 2003, the model uses the actual rate of inflation. U Dzw (5Think about those retiring today who have the same job as you do, or the same job you expect to be promoted to. How much are they making? Don't think about future cost of living increases. This number will be used as your highest and final salary. It will be incremented at the rate of inflation relative to the rate you set in the next variable. qU bSet this variable to your age in the year you used for INITIAL TIME. This will also be used for the teacher's current age. y- l" & %If you don't know, $9,520 is a reasonable guess for a family plan and $3,681 for single coverage in 2003. Use 2003 costs even if the initial time is set before 2003. See, http://www.nchc.org/facts/cost.shtml #"Most people reach the top of their pay scale many years before they retire. The model will increment your annual pay until it reaches your highest inflation-adjusted salary in the year you specify. | ]% E /Don't include eye or dental care, life insurance or training (continuing education), as these are often included in teacher benefits. However, if you have a company car, a week at the company's summer cabin or the like, include the value of those benefits. The amount you enter is NOT included in your taxable income. Include taxable benefits in bonuses, above. These are increased at the rate of inflation. q] U :V 0Most teachers receive free parking, free training and low-cost school lunches. If you pay for parking, training, tools or the like, you may want to include these. These are increased at the rate of inflation. No tax deduction is given for these unless you are self-employed. If you are self-employed, include your cost of doing business here. You could also include college costs amortized over your worklife. |^" xPvt _/*Think about someone who is retiring today with the same job as you and the same time in service as you expect to have when you retire. How much does his/her pension pay annually? Divide this number by the same highest salary you entered, above. Example: If your pension pays $25,000 on a high salary of $50,000, set the slider to 50 (for 50%). Ln P>: E *Set the slider to the annual percentage increase in health insurance costs you expect. For simulations of about 3 years, an 8 to 12% might be reasonable. For longer simulations, 5 to 9% may be more reasonable. You should set this variable even if you privately pay for health insurance.63 t|b YOUR WAGES:7 RL$ TIP: you can click on any slider arrow tip to enter an exact number. If you are running the model for years prior to 2003, enter amounts that were earned or paid in past years EXCEPT for health insurance, for which you should use 2003 or later health insurance costs.JG e YOUR HEALTH INSURANCE BENEFITSNI a  YOUR OTHER BENEFITS AND EXPENSES , k g *'Examples: If you think your employer will pick up all increases in health insurance costs above the rate of inflation, set the slider to 0. If you think you will have to pay for all these increases, set the slider to 100. If you think the increases will be split evenly, set the slider to 50. This variable is ignored if you do not receive health insurance through work.NL  YOUR PENSION AND RETIREMENT SAVINGS |dn F*' x -0=Social Security, only. 1=Social Security plus employer-provided pension. 2=Social Security plus private retirement savings. 3=Social Security plus pension plus savings. 4=Employer-provided pension only. 5=Pension plus savings. 6=Private retirement savings, only.FB z Employer-provided pension Set the slider for the last year of the simulation. If you do not want to make comparisons that include retirement income, select a year before you turn 55 or before you or the teacher retires.nl See the life expectacy tables at http://www.annuityadvantage.com/lifeexpectancy.htm uQW >P 5You may start collecting Social Security when you stop working or at any time thereafter if you are at least 62 years old. Set the slider to an age between 62 and 72. The model estimates your SS pension from your earnings at age 60 or your last year of work, whichever is earlier. For more informaton on Social Security retirement benefits, see http://www.ssa.gov/pubs/10035.html lD` n" <~P_ &New York teachers begin collecting COLAs at age 62 with at least 5 years retirement or age 55 with at least 10 years retirement. http://www.nystrs.org/main/library/hbretd_main.html va<0In some cases, cost of living increases apply to only a portion of one's pension. If you receive no COLAs, set the slider to zero. If COLAs apply to your entire pension, set the slider to 100. If, for example, COLA's apply to the first $20,000 of your $50,000 pension, set the slider to 40. The model calculates your pension COLA by using a fixed percentage of your inflation-adjusted pension at retirement. It does not apply COLAs to your total annual pension. NY teacher pensions are exempt from NY state income taxes. http://www.nystrs.org/main/library/hbretd_main.htmlFC '} Private retirement savings e If you have an IRA or similar retirement account, enter the amount you currently have in your account(s). VG A work-year is 52 weeks minus vacation and holidays. If you get 10 holidays per year plus two weeks vacation, you work 48 weeks a year. Do not make a deduction for sick days or personal days. 6g Do not include lunch time. The model does not include your work hours from prior work years even if you set # of years work experience above zero. ZJE I(NY teacher pensions are guaranteed never to decline by the NY Constitution. An equivalent interest rate for such security would be about 1.1% points above the rate of inflation (based on the US Treasury I Bond). Setting the slider higher than 1.1 implies more risk with a potentially higher return. +M<You can choose to make comparisons based on experience (slider=0) or salary (slider=1). Salary-based comparisons use the same salary for both you and the teacher. They essentially show you how much you'd earn if you had the same benefits as a teacher. Experienced-based comparisons set teacher pay based on experience. The comparison essentially tells you how much you'd make with your experience if you earned what a teacher earns. \{ST bS%The model assumes (somewhat unrealistically) that you will make withdrawals of equal amounts from your retirement savings from the time you start withdrawals to the time of your death. The model excludes 40% of your withdrawals from income taxes.B= L TEACHER COMPENSATION {T {T a B] CA#Many schools give younger teachers smaller step raises than they give to senior teachers. If the steps are evenly spaced, set the slider to zero. If pay increases balloon at the end of the pay schedule, set the slider to one..+ %+Think about the pay increases given to those earning the highest salary in your job. Do they go up faster, slower or at the rate of inflation? Examples: 100=at the rate of inflation. 200=twice the rate of inflation. 50=half the rate. 0=no increases based on inflation. f GTeachers typically contribute less toward health insurance than workers in the private sector. S-G teachers contribute about 13%. [!*Many school districts report salary increases in-line with inflation. However, some have been giving junior teachers increases at half that rate while increasing top salaries at twice that rate. S-G increased the top salary by 12% over 3 years in the last contract, with 6% inflation. Examples: 100=the rate of inflation. 120=20% above the rate of inflation. 200= twice the rate of inflation. 50=half the rate of inflation. \The national average appears to be 44 hours a week, excluding 37 minutes a day for lunch. The model does not include the teacher's work hours from prior work years even if you set # of years work experience above zero. <U J ?Y 36 weeks is 180 days. Many teachers work 185 days and fewer work 190 days a year. If you included summer income, be sure to include the weeks worked in this variable.  S:7 F +About one-third of teachers work during the summer, earning about $3,000 in extra income. If you decide to include summer earnings in the model, don't forget to increase the number of weeks worked, below. See the AFT Teacher Salary Survey at http://www.aft.org/press/2003/071103.html. .zS-G teachers earn $70,194 at the top. The model does not account for longevity pay, which some school districts have . You may either impute it within the salary schedule or within "add-ons," below. l i q0In general, teachers will not likely have to pick up as much of the increases in health insurance as private sector workers. EXAMPLES: If you think schools will pick up all increases in health insurance costs above the rate of inflation, set the slider to 0. If you think teachers will have to pay for all these increases, set the slider to 100. If you think the increases will be split evenly, set the slider to 50. Id\ {In NY, the answer is yes. Set the slider to 0 if the answer is no. |bK H /_ LhIn NY, teachers begin paying pension contributions at step 1. Set the slider to zero if the teacher does not make pension contributions. VIn NY, teachers stop paying pension contributions at step 11. In other words, they contribute to their pensions for 10 years. Set the slider to 55 if teachers make pension contributions during their entire career.^[ 0}In NY, teachers pay 3% of their salaries as pension contributions. \m" z,-Surveys report teachers spend an average of $500/year for classroom supplies. In general, teachers do this to receive higher increases in salary, which ultimately increases their pensions. The model does not give teachers a federal tax credit of up to $250 for classroom expenditures because it is unknown whether the credit will be continued. You could also include the teacher's college costs amortized over his/her worklife.fa |Use your age on your birthday in the year you stop making contributions.  ` p$03Teachers may receive additions to pay based on college and development credits, college degrees, longevity and much more. Typically, these may range from $1,000 to $10,000 a year, with S-G teachers earning $3,200 or more at the top. Teachers can also earn more through coaching and advising clubs. If you include the latter, be sure account for them in the number of hours a teacher works per week. For more about add-ons, see http://www.myshortpencil.com/schooltalk/cgi-bin/show.cgi?tpc=2&post=7487#POST74 Lj E&! D)NY teachers can retire at any age with 30 or more years of service without an age-based reduction in benefits. As a general rule, with 20 years' service, the pension is 50% of the average of the top three consecutive earnings years. 30 years=60%. 40 years=75%. +& " This variable is also used as the teacher's total health insurance cost. You should enter an amount even if you don't receive health insurance through your work. k( $ "Set this variable to your oldest age in the year you expect to stop working at your current job. You will earn no income during this year. EXAMPLE: If you want to earn income through age 66, set the slider to 67. zb V,Withdrawals from retirement savings can be in fixed or variable amounts. By setting the slider to zero, all annual withdrawals will be for the same amount. Setting the slider above zero inflates annual withdrawals by that amout. For example, setting the slider to 3 provides for a 3% increase in annual payments. By providing for increasing withdrawal amounts you provide a hedge against inflation. pF 4Set this to the year you expect to die unless you expect to run out of savings before then. This variable helps you see what happens if you live beyond your expected age of death. |R5&# +Set the slider to 1 if you are self-employed. The model adjusts your FICA tax and gives you a tax deduction for it. Later, you can enter your costs of doing business for a tax deduction. Consequently, you should use your gross income as your gross annual salary. If the salary schedule starts with step zero, add one to the highest step. Otherwise, set the slider to the highest step. <c"FA a;"If the teacher receives health insurance coverage through work, leave the slider set at zero. Otherwise, set the slider to the amount of the health insurance rebate and set the next slider to zero. If the teacher is not covered by health insurance and receives no rebate, set the slider to .01. , YRP z *In some cases, teachers may "retire" and continue teaching. In other cases, they may work at other jobs after retiring. Set the slider to the amount, if any, the teacher earns after retiring using today's dollars. The model adds this amount ONLY if your retirement age is older than that set for the teacher. R~y ^)$Leave the slider set at zero to have the model calculate the teacher's pension based on NY's pension rules. Otherwise, set the slider to the percentage of top salary paid in pension benefits. Don't include Social Security payments in calculating the percentage of top salary paid in pension benefits. The model estimates the Social Security pension. p G:7 kS-G teachers start at $34,000.2/ r  Salary61 qJ-  Expenses>9 T Health Insurance20 q%  Pension i`"NK Ig $Some teacher pensions provide for cost of living increases. NY teachers earn COLAs on the 1st $18,000 of pension. Those with Social Security benefits also receive COLAs. Set the slider to the percentage of pension benefits used to calculate COLAs. If using NY pension rules, you may skip this variable. 7vr ]$#Skip this item if using NY teacher pension rules. New York teachers begin collecting COLAs at age 62 with at least 5 years retirement or age 55 with at least 10 years retirement. If COLAs begin the first year after retirement, set the slider to the same age as used for the teacher's retirement age. Otherwise, set the slider to a later year.63 6  Work HoursFD  Post-retirement Work Income !T _!T Hb" /<NY teacher pensions are exempt from NY state income taxes. Set the slider to 100 to exclude 100% of state pension benefits from state taxes. http://www.nystrs.org/main/library/hbretd_main.html ]Nb^ 8!'Set the slider to 1 if you want the model to estimate NY state income taxes (excluding the NYC income tax and the new "temporary" tax surcharge on the wealthy). If you live outside NY, you may want to use the NY income tax as an estimate for your own state income taxes. Set the slider to zero to ignore state income taxes.  Note: The model requires at least 5 years of work for both you and the teacher to accurately estimate retirement benefits. ldQ "Set the slider to 1 if you want the model to estimate federal income taxes. The calculates taxes based on two dependents taking the standard deduction. Set the slider to zero to ignore federal income taxes. |S IIf you start to work between ages 18 and 21 or 22, you may want to delay the teacher's start-work age to allow for the time it takes to graduate from college.2/ +"AGraphsFC }"p@ Detailed Salary ComparisonRM "@ Detailed Health Insurance ComparisonB@ "a @ Detailed Tax ComparisonJG # @ Detailed Work Hours ComparisonJG "@ Detailed Retirement ComparisonRN 1#@ Detailed Lifetime Earnings ComparisonZV V#  @ Detailed Comparison Graphs with All Variables>; |#F @ Initial Parameters:8 Z"A@ The Big Picture , P  E The average rate of increase relative to "add-ons" may not be the same as the rate of inflation. Set the slider to 100 if "add-ons" increase at the same rate as inflation. Otherwise, set it higher or lower as best reflects your situation. | ^^Y l*The teacher may start collecting Social Security at age 62 or older. Set the slider to an age between 62 and 72. The model estimates the SS pension from earnings at age 60 or the last year of work, whichever is earlier. For more informaton on Social Security retirement benefits, see http://www.ssa.gov/pubs/10035.html )?L_l}.=HSkv%ALWky &4L]m2GXk~5p*R ]r 5 H  J n  + p H7L{ :5 B CompensationB> z- bonuses & supplementsVQ B health insurance or rebate for declining2. F( CostsJF P9 health insurance contribution2/ m  salaryB= D  non-taxable benefits:6 L3  work expenses61 ;  FICA taxB= ]2F  pension contributionfb f employer pension contribution (not included in the model)RN X`A private retirement savings (401k/IRA)^\ >W employer contribution to private retirement savingsB> `Q  teacher summer income*(  >9 S8  state income tax>; XA  federal income tax:8 3GThe Big Picture*(  *(  ^Y 0, Worklife Disposable Income with Health Insurance*( .! *( M>: 2 Retirement IncomeFB @ employer-provided pension:8 3  Social SecurityFC 4 private savings (401k/IRA)*(  2. 9( Costs>9 9* state income tax>; 9* federal income tax*( } *( } JE 3 Retirement Disposable Incomenl 5b Lifetime Disposable Income (with worklife health insurance benefit)*( 5f *( $ NI 4 teacher post-retirement earnings63 '  divided byB? V  lifetime hours at work2/   equals~y X Lifetime disposable income and worklife health insurance benefit earned per hour:8 <0,Comparison_Graphs_Big_Picture:8 <0,Comparison_Tables_Big_Picture*( l c ]  *( zO VR M employer FICA tax (not included in model)*( L -j *( \ ^M :8 NB:  1. Compensation61 3\  2. Costs^\ x}h 3. Worklife Disposable Income with Health InsuranceB= ^H  4. Retirement Income>< ZF  5. Retirement CostsJH m  6. Retirement Disposable IncomeFA kU  7. Lifetime Compensation>: Q9  8. Lifetime Costsje 5x 9. Lifetime Disposable Income with Worklife Health Insurance " Hourly rates are not applicable to retirement graphs 4, 5 & 6. For lifetime graphs 7, 8 & 9, the hourly rate requires the use of accumulated values.64 ZMore GraphsFC p@ Detailed Salary Comparison*( L\ b] c  Move the slider down to see all numbers in the tableRM 6@ Detailed Health Insurance ComparisonB@ [a @ Detailed Tax ComparisonJG  @ Detailed Work Hours ComparisonJG }@ Detailed Retirement ComparisonRN @ Detailed Lifetime Earnings Comparison yEquivalent compensation may be calculated in many ways. Four of these are: a. lifetime compensation; b. lifetime compensation earned per hour; c. lifetime disposable income; and d. lifetime disposable income earned per hour. 1. Set the "big picture selector" to either position 7 (Lifetime Compensation) or position 9 (Lifetime Disposable Income with Worklife Health Insurance). "Use inflated or 2003 constant dollars?" should be set to 0. 2. Set "show accumulated values" to 1. Set "show hourly rate" to 1 if you want to find equivalent hourly rates. 83. Move the "your salary multiplier" slider until the blue and red lines for the last year shown on the graph line up. This should make the red line (teacher compensation) disappear for the last year shown. z,4. Check the numbers in the table for the last year shown. They should be nearly equal. Write down (or remember) the amount for the last year shown in the "Your Data" column. 6. Move the "put disposable income above teacher's into savings" slider to 1. Check the amount shown for the last year in the "Your Data" column. If it is larger than the amount recorded in step 4, leave this slider at 1, otherwise move it back to 0. 07. Click on one of the arrow tips of "your salary multiplier" and, in the "Value used for simulation" box, enter the number that makes the last row of numbers in the table exactly equal. This may take you a few guesses. j8a. With the last row of numbers in the table being exactly equal, set the "Use inflated or 2003 constant dollars?" slider to 1. >: %8b. If the last number in "Your Data" is lower than the last number shown for "Teacher Data," the amount entered in "your salary multiplier" is the minimum percentage by which your base salary must be increased (above 100%) or decreased (below 100%) to result in equivalent compensations.ZV  $Examples: If "your salary multiplier" is set to 125.73, this means your salary has to be 25.73% higher in all worklife years to yield the teacher-equivalent compensation. If "your salary multiplier" is set to 75, this means you need earn only 75% of your current salary to yield the teacher-equivalent compensation. h&28c. If the last number in "Your Data" is higher than the last number shown for "Teacher Data," click on one of the arrow tips of "your salary multiplier" and, in the "Value used for simulation" box, enter the number that makes the last row of numbers in the table exactly equal. When these numbers are exactly equal, the value set for "your salary multiplier" is the minimum amount by which your base salary must be increased (above 100%) or decreased (below 100%) to result in equivalent compensations.63 ;N QUESTIONS:ZV h Why compare compensation and not just salary? Q&Health insurance is salary paid in-kind. Pension is salary that is deferred. The money needed to pay for health insurance benefits and pensions must be earned or raised through taxes, just like the money needed to pay salaries. Comparing just salaries when some workers earn significant portions of their wages in benefits, while others do not, results in apples to oranges comparisons.>< _Also, consider that base salary often does not represent the entire salary picture. For example, teachers may earn 5% to over 10% above base salary in the form of "add-ons" for degrees, development courses, longevity pay and extra duties that may or may not require additional time at work.RM 1 Why use lifetime total compensation? mQ$Use of lifetime total compensation essentially means that compensation fairness between equivalent jobs is obtained when employers make the same amount of payments to workers. It doesn't matter if Worker A receives $30,000 in salary plus $10,000 in health insurance plus $10,000 in pension and Worker B receives $50,000 in salary with no pension or health insurance benefits. VThat different pay structures have different tax and retirement outcomes are considered exogenous factors outside the employer's control. Fairness is obtained when total compensation is equal for equivalent jobs.~y : Why use lifetime disposable compensation with worklife health insurance benefit?.* - 1Use of lifetime disposable compensation essentially adopts a principle of fairness from the worker's perspective rather than the employer's. It recognizes that in competitive markets workers make decisions based on the "value" of their compensation, not just its "amount."JF n bSome workers may contribute more for health insurance and their retirement than other workers. A worker who must earn $10,000 to invest in private retirement savings must pay taxes that another worker doesn't. Some workers pay a 6.2% FICA tax while others pay very little toward their retirements.   u#In New York, teachers pay no state income tax on their pensions. This, in effect, raises the value of the teacher's pension by an amount equal to the tax the teacher would have otherwise had to pay. A person in the private sector desiring an equivalent benefit would have to earn enough to fund the value of the state income tax exclusion benefit plus an additional amount to pay the federal and state taxes owed on that amount. .)  ?The principle of rationality suggests that workers will consider these differences in making decisions about which jobs to take and which careers to pursue. From the worker's perspective, pay for equivalent jobs is not equal unless the net value of compensation is equal.FC F m  Why adjust for work hours?nj v Economists recognize that free time has economic value. Those who have extended time off during the year, and those who can retire in their 50s, have opportunities to supplement their incomes that other workers may not. Moreover, if two jobs are truly equivalent, then fairness suggests the hourly rate of compensation should be equal.  ,If Workers A & B have equivalent jobs and equal compensation, but Worker B works 500 hours more a year, then Worker B is arguably underpaid. The same is true if Worker B must work an additional 10 years to earn the same total compensation before retiring.  n Are there other considerations that may affect fairness calculations in relation to compensation?B? - IYes. Many. Quality of worklife, including having control over one's work and intrinsic job rewards, is one. Others include college costs and lost wages while attending college. The more time it takes to earn degrees to begin a profession, the fewer years workers have to recoup these costs.63 u GSome workers may spend time traveling away from home. They may rarely be home when their children are home after school or during breaks and vacations. This may increase the cost of childcare. It may also adversely affect learning and/or other parent-child relationship concerns.  ^+Many workers, if they could, would take pay cuts to have more time with their children. Recent research has reported that children want to spend more time with their parents. Similarly, many workers would be willing to pay money to have more time at home. Ask yourself what it would be worth to you and your children if you could be at home when they are. You can include the value of lost time with family, college costs and lost income while attending college in appropriate variables within the model.>; F @ Initial Parameters@8 A@ The Big Picture62 %  Your Data:5 :2  Teacher DataZV   @ Detailed Comparison Graphs with All Variables*( R *( |` *( \Y *( 'U *( o?  *( /   5. Set the sliders to the left as follows. Retirement situation = 3. Begin withdrawals at the same age as your stop work age. Exhaust private savings either at your death age or the age when you begin taking Social Security or other pensions.*( og  &3>I[hu )P]ju%0;FQ\gr} '7BMZiy':EXhx,CRex*APcs+:EUfy 1BP_pH7L " >: BSalary Comparison2. *<0,Comparison_Graphs_12. $ <0,Comparison_Tables_1*(  :  *( AI FA k[  Set graph selector to 1.2. 'Q<0,Comparison_Graphs_22. Q<0,Comparison_Tables_2:6 !L  Annual Amount>; ` Accumulated Amount2. &<0,Comparison_Graphs_32. <0,Comparison_Tables_3*(  I B= "`  Hourly Rate by Year*( LQ B> M  (Delayed by one year)2. )`<0,Comparison_Graphs_42.  _<0,Comparison_Tables_4*( nI JE   Worklife Average Hourly Rate*( LN Note: When the average hourly rate is reported for different years, it's best to use constant dollars to make the comparison.2. %<0,Comparison_Graphs_52. <0,Comparison_Tables_5*( LP :6 +D  Present Value*( I| ! To read the present value graph and table, look at the largest number for each of your data and teacher data. That amount, if paid lump-sum today, is equivalent to the future income stream from salary.*(  I *(  F *( l I *( L a *( B e *(  G *(  Z *( H Y" *(  Z *(  H *( q] *( m e *( e T *(  T *( } f *( Q\ *( Oq\ *(  u!] *( \`" *( <sJ *( 'W *( LB H *( <'b *( ,U *( Y *( P%Y *( LE O *( P N *( LW  *( sI >: &h <0,Comparison_Graphs_Comprehensive>:  <0,Comparison_Tables_Comprehensive*(  H *( e G  2. A4   Views:7 WO 2  0. Annual Data>; dk E 1. Cumulative DataB> l H  2. Annual hourly rateNJ  s 3. Average cumulative hourly rate>9 ^ 7  4. Present valueje r { 0. Salary (includes teacher summer income but not "add-ons")JG i" o  1. Taxable bonuses & "add-ons"B@ L9 O  2. Non-taxable benefitsNJ oS p  3. Teacher post-retirement salaryZV rw t 4. Expenses (not health insurance or pension):8 2 0  5. Total salaryJF d b  6. Total salary less expenses*(  I JE   Adjust Your Salary Variables>: ! <0,Comparison_Graphs_Comprehensive>: a<0,Comparison_Tables_Comprehensive2. Yr   Views:7 o 2  0. Annual Data>; | E 1. Cumulative DataB>  H  2. Annual hourly rateNJ  s 3. Average cumulative hourly rate>9 v 7  4. Present valueje A { 0. Salary (includes teacher summer income but not "add-ons")JG ` o  1. Taxable bonuses & "add-ons"B@ dw O  2. Non-taxable benefitsNJ  p  3. Teacher post-retirement salaryZV  t 4. Expenses (not health insurance or pension):8 J 0  5. Total salaryJF | b  6. Total salary less expensesJH   Adjust Teacher Salary Variables*( B ?  *( _B F  *( 9 I zr Teacher post-retirement income is included only for the years between the teacher's retirement and your retirement.*(  @ *(  \ je r{ 0. Salary (includes teacher summer income but not "add-ons")JG o  1. Taxable bonuses & "add-ons"B@ O  2. Non-taxable benefitsNJ p  3. Teacher post-retirement salaryZV  4. Expenses (not health insurance or pension):8 0  5. Total salaryJF b  6. Total salary less expenses>< GM Salary Selector Key>; -CM  Graph Selector KeyZV  @ See factors affecting present value in Notes.64 ZMore GraphsFC p@ Detailed Salary ComparisonRM @ Detailed Health Insurance ComparisonB@ "a @ Detailed Tax ComparisonJG j @ Detailed Work Hours ComparisonJG D@ Detailed Retirement ComparisonRN @ Detailed Lifetime Earnings Comparison>; |F @ Initial Parameters:8 A@ The Big Picture*( y E  >; T M  Graph Selector KeyB> k N  1. Salary ComparisonsJH  o  2. Health Insurance Comparisons>; E  3. Tax ComparisonsFB [  4. Retirement ComparisonsFB ]  6. Work Hours ComparisonsB@ Q  5. Lifetime Comparisons*( w} ?  >; ) M  Graph Selector KeyB> @ N  1. Salary ComparisonsJH T o  2. Health Insurance Comparisons>; i E  3. Tax ComparisonsFB } [  4. Retirement ComparisonsFB ]  6. Work Hours ComparisonsB@ S  5. Lifetime Comparisons62 .%  Your Data:5 .2  Teacher DataB> 1^N  1. Salary ComparisonsJH Swo  2. Health Insurance Comparisons>; (E  3. Tax ComparisonsFB @[  4. Retirement ComparisonsFB E]  6. Work Hours ComparisonsB@ 8Q  5. Lifetime ComparisonsZV   @ Detailed Comparison Graphs with All Variables*( , )$T {" Warning: Delaying the start-work year for the teacher may require you to make a change in the year the teacher stops work as working fewer years will change pension calculations. (5@K]jw"IVcw !,7BMXcn)9HVevH7LFD ?QnHealth Insurance Comparison2.  <0,Comparison_Graphs_12. <0,Comparison_Tables_1*( 9:  *( lI FA :Y  Set graph selector to 2.2. 5<0,Comparison_Graphs_22. 5<0,Comparison_Tables_2*( koI :5 ;  Annual Value>: eb Accumulated Value2. <0,Comparison_Graphs_32. <0,Comparison_Tables_3*( kI :5 9  Hourly Rate ](B> M  (Delayed by one year)2. D<0,Comparison_Graphs_42. C<0,Comparison_Tables_4*( MpI >< fr  Average Hourly Rate Note: When the average hourly rate is reported for different years, it's best to use constant dollars to make the comparison.2. <0,Comparison_Graphs_52. $<0,Comparison_Tables_5NJ  Present Value of Selected Benefit*( (\ i  To read the present value graph and table, look at the largest number. That amount, if paid lump-sum today, is equivalent to the future benefit stream.*( <n *( |"9 NJ _p  0. Gross health insurance benefitd] u  1. Health insurance contribution (deducted from pay)JH h  2. Net health insurance benefit*( je *( x1p" *( kT *( q" *( LV *( ,'e" *( 9f *( lC m *( @h" ZV  @ See factors affecting present value in Notes.JF @v  Health Insurance Selector Key>; ?CM  Graph Selector Key64 ZMore GraphsFC  p@ Detailed Salary ComparisonRM 3 @ Detailed Health Insurance ComparisonB@ X a @ Detailed Tax ComparisonJG  @ Detailed Work Hours ComparisonJG z @ Detailed Retirement ComparisonRN @ Detailed Lifetime Earnings Comparison>; c F @ Initial Parameters:8 g A@ The Big Picture62 k %  Your Data:5 2  Teacher DataB> ?[N  1. Salary ComparisonsJH `oo  2. Health Insurance Comparisons>; 6E  3. Tax ComparisonsFB N[  4. Retirement ComparisonsFB R]  6. Work Hours ComparisonsB@ FQ  5. Lifetime ComparisonsZV  @ Detailed Comparison Graphs with All Variablesd %2=HZgt (O\it$/:EP[fq| +6CRbs 0@S^i /?JU`n1BTew+=Rcv&7BRcv  0 A X c n y H7L  :7 HTax Comparison2. P<0,Comparison_Graphs_12. T<0,Comparison_Tables_1*( :  *( lI FA gY  Set graph selector to 3.2. X"<0,Comparison_Graphs_22. \"<0,Comparison_Tables_2:6 L  Annual Amount>; \` Accumulated Amount2. `<0,Comparison_Graphs_32. d<0,Comparison_Tables_3*( I B= `  Hourly Rate by Year*( L+ B> uM  (Delayed by one year)2. h1<0,Comparison_Graphs_42. l0<0,Comparison_Tables_4*( a]I JE S  Worklife Average Hourly Rate*( LS+ qNote: When the average hourly rate is reported for different years, it's best to use constant dollars to make the comparison.2. p<0,Comparison_Graphs_52. t<0,Comparison_Tables_5*( L+ :6 D  Present Value*( <\ ! To read the present value graph and table, look at the largest number for each of your data and teacher data. That amount, if paid lump-sum today, is equivalent to the future income stream from salary.*(  F *( lz I *( L a *( KL c *( s G *(  Z *(  R U *(  Z *(  H *(  ~W *( > e *( V T *( 8 T *( n f *( B\ *( @~\ *(  f.] *( \+`! *( <J *(  4W *( L3 H *( <4b *( ,U *( Y *( A2Y *( LaS + *( \ N *( LY+ *( f[I >: xu <0,Comparison_Graphs_Comprehensive>: | <0,Comparison_Tables_Comprehensive*(  ?  2. 2A   Views:7 H\ 2  0. Annual Data>; Ux E 1. Cumulative DataB> ] H  2. Annual hourly rateNJ  s 3. Average cumulative hourly rate>9 O 7  4. Present value*(  C *(  I FB  }  Adjust Your Tax Variables>:  <0,Comparison_Graphs_Comprehensive>: a<0,Compar