In "Market-Based Pay Reform for Public School Teachers"--a paper presented at the National Center on Performance Incentives research to policy conference in February--Michael Podgursky, professor of economics at the University of Missouri, examines the effects and unintended consequences of the current compensation system for teachers in the U.S. public education system. He concludes the existing pay structure contributes to several inefficiencies, and in doing so, addresses three key questions, which are summarized in this research brief: (1) What are the consequences of the single-salary pay schedule? (2) What are the consequences of tenure and district-level wage setting policies? and (3) What are the consequences of the current teacher retirement system? [This research brief describes work performed by the National Center on Performance Incentives and documented in "Market-Based Pay Reform for Public School Teachers," by Michael Podgursky, Working Paper 2008-07, available at ED510523.]