Nancy Hamant re: That 88 percent study

From: Nancy Hamant
Sent: Monday, November 21, 2005
Subject: Re: That 88 percent study

Ryan, and all,

I agree a comprehensive study is needed ASAP.

Unfortunately, this is data that should have been collected each year since 1999 by STRS staff. For the growing numbers of those retiring on the increased calculation, the amounts must be seriously impacting the STRS Pension Fund and the amounts will be increasing. Whereas for those brought up to "80% of buying power" (or whatever term STRS used). These folks are STRS's oldest members, and the cost of providing them this increase keeps going down each year as unfortunately each year since 1999 some of them have died.

It really upsets me that the STRS staff want bonuses on top of their better than average salaries and yet they continuously seek "studies" from paid consultants. As I stated before, I do believe any consultant fees should be deducted from STRS staff bonus money and salary increases should be given cautiously.

Nancy (Hamant)