RH Jones: A Great Resource for a Compounded COLA

From: RH Jones

Sent: Monday, January 16, 2006

Subject: A Great Resource for a Compounded COLA

To Dr. Damon Asbury, STRS OH Ex. Dir., all Bd. members and OH citizens:

Concerning the Dr. Fluke and my request to the STRS OH Bd. for a Compounded COLA (CCOLA), we have been advised recently by a well intended STRS Bd. member to: "Be careful what you ask for. The school boards are not in the mood." -- Ironically, this morning (01-16- 06 Martin Luther King Day) a Internet report about the latest OH education legislation mentions words to the effect that: The public needs to be informed as to the effect of education on the international scene. In other words, we as teachers need to educate citizens as to the dollar value that public education returns to their pockets. And that: Education is the key that will keep citizens ahead in the keen competition for international business.

A STRS OH retired member CCOLA should be a part of an attraction to teach in the public schools of our beloved state which should be and can be moving forward economically. I would like to direct all of you to a comprehensive publication provided to me by Dr. K. Fluke called: RESEARCH REPORTS published by the American Institute for Economic Research (AIER), Great Barrington, Massachusetts 01230, www.aier.org, Vol. LXXIII, No. 1, January 9, 2006. This AIER cost-of-living guide mentions: "Price inflation accelerated in 2005. The Consumer Price Index (CPI) increased by 3.8 percent in the first 11 months of the year, compared with 3.3 percent in all of 2004 --." And additionally mentioned: "Looking further back, the purchasing power of the dollar has fallen by almost 95 per cent since 1913." This eye-opening publication has a chart graphically showing a consumer price index of all items increasing 100% just since 1967! Clearly therefore, looking forward, one can see the need for a CCOLA for career OH retired educators members in the STRS.

By the way, of interest to some past STRS Bd. Members, the above publication listed a +45.9% change, since 1990, in distilled spirits at home. Therefore, while at restaurants, it is no wonder that some of them may have charged their distilled spirits to our STRS.

This e-mail has been respectfully submitted by Robert Hudson Jones, a Legislative CMTE Member, representing over 1,100 members of the SummitCRTA Branch of ORTA, Dr. K. Fluke Chair. Also, I am a Life Member of ORTA, a proud Life Member of CORE, Life Member of AEA, NEOEA, NEOEA-R, OEA, OEA-R, NEA & NEA-R.