For those who noticed that our governor announced that state employees will
once again receive no salary increase next year, let me bring one more
consequence to your attention. A recent study noted that an average
employee in the private sector who did not receive a 4% raise this year
(!), and who typically contributes 10% of salary to his or her retirement
plan (401K etc.), stands to lose  more than the 4% of current income.
Looking out 25-30 yrs., the employee also stands to lose $30,000 in the
retirement plan. Now, for those years when we have received no raise or an
increase that is less than the cost of living, we know the impact on our
purchasing power. Consider, too, what it is doing to our plans for
retirement. Dare I ask the administration to consider this when budgeting a
tuition increase next year?

Irven M. Resnick, Professor and Chair of Excellence (Judaic Studies)
University of Tennessee at Chattanooga
615 McCallie Ave.
Chattanooga, TN 37403-2598
(423) 425-4446 (Voice); (423) 425-4153 (FAX)