Robert Hudson Jones: Time for a Compounded Cost of Living Adjustment (CCOLA)

The time has come for a Compounded Cost of Living Adjustment (CCOLA). The Sunday Wall Street Journal reports: "Inflation Surges: U.S. consumer prices rose last month at the fastest pace in more than 25 years, buoyed by surging energy prices. But, it's good news for retirees: They'll get 4.1% in their monthly Social Security checks next year, the largest rise in more than a decade. For the average retiree, it will mean an extra $39 a month." (End Quote)

While this retired teacher does not wish to be in Social Security (SS), what is good for the SS, Congressmen, Senators and federal employees, ought to be good for STRS OH annuitants. It is noted that Nancy Hamant of CORE states that: "42 States provide compounded COLA's for retirees. Ohio is not one of them..."

Funding for the OH retired teacher's HC/Rx and a CCOLA must be found in an increase in the 14% employee contribution. This is the very least that should be expected from those who, by law, expect their teachers to meet stringent OH State certification, 5-yr. college degrees and beyond.

RHJones,
Retired STRS OH teacher, SummitCRTA Leg. CMTE. Mem, CORE Legal CMTE Mem.. Life Mem. of OEA, OEA-R

10/17/05