Teacher Salary Information

Loss in Retirement if QEO had Been
in Effect of Ten Years

Retirement annuity = (average of 3 highest salaries) X .016 X years of service.

  With 10 yrs
of QEO		 Without
QEO*		 Monthly
Difference		 Annual
Difference		 20 yr
Difference
Ma Max 93-'94 32739 43284      
94-'95 33240 45371
95-'96 33748 47558
Three year salary avg:   33242 45404
Twenty years of service monthly annuity:   886 1211 325 3900 78000
Thirty years of service monthly annuity:   1330 1816 486 5832 116640
 
  With 10 yrs
of QEO		 Without
QEO*		 Monthly
Difference		 Annual
Difference		 20 yr
Difference
Schedule Max 93-'94 35221 47167      
94-'95 35760 49440
95-'96 36307 51823
Three year salary avg:   35763 49477
Twenty years of service monthly annuity:   954 1319 365 4380 87600
Thirty years of service monthly annuity:   1431 1979 548 6576 131520

* "Without QEO" salaries were calculated by taking the average increase in benchmarks for the three years prior to the implementation of the QEO (4.82% increase) and applying this to the 1992-1993 salaries forward. This is the most accurateway to calculate the difference between QEO and non-QEO scenarios since using actual benchmarks since 1994 would be using benchmarks settled under the QEO limitations.

WEAC Collective Bargaining/Research Division, JWL updated 8/20/97.

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Posted April 3, 1998