NCPI researcher Michael Podgursky (University of Missouri) and Robert Costrell (University of Arkansas) have posted a response to a critique of their article on teacher pensions (Peaks, Cliffs, and Valleys: The Peculiar Incentives of Teacher Pensions). Monique Morrisey of the Economic Policy Institute critiqued Podgursky and Costrell’s article by arguing, in part, that their use of the “peculiar” metaphor is inappropriate. To illustrate her point, she argues that changes in pension wealth are not characterized by peaks and valleys, and draws from a figure from the original article.

In their response, Podgursky and Costrell point out the figure Morrisey critiques is not in fact representative of the change in pension wealth, as she claims, but instead shows the level of pension wealth at any point in a representative teacher’s career as a percent of cumulative earnings up to that year. They then continue to defend their use of the word peculiar in describing teacher pensions, pulling examples and graphics from their original article.

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