OKay, as I promised here is my analysis of the annualized value of BPS teacher compensation. This represents the average.
The salaries are based on this URL :
These figures are for 2005-06, so I have assumed a 2.5% raise per year (probably on the low side) to arrive at 2008-09 salaries. (takes a long time to download)
From the BPS calendar for 08-09 school year, there are a total of 187 school days. There are 5 snow holidays, 13 regents exam days, unknown number of half days, 3 personal days and 5 paid sick days (per genoobie). I have subtracted pers and sick days to get 179 days to figure the annualized percentage (179/235)=76%.
I have used my value of $800 per month for the value of medical, dental, optical, and life insurance. This again is probably on the low side.
For retirement pension benefits, I consulted with Fidelity Inc and for a guaranteed pension for a 65 year old (incl wife) with rights of survivorship, a lifetime pension of $1500 per month would cost $ 280,000 (cash). For a $2500per month pension would cost $ 466,666.
Average BPS teacher salary in 05-06 : $ 51,470
08-09 : $ 55,330
Equivalent medical costs (annual) : $ 9,600 ($ 800/mo)
Value of lifetime pension of $30K/yr. : $ 15,555 (assuming 30 years work)
Total value of teacher compensation $ 80,485
Annualized value of teacher compensation $ 105,981 (for 76% work year)
You teachers and public employees have a lot better than you think. And don't forget, there are many other school districts with higher avg pay than BPS. It's no wonder NYS is going down the tubes.