Active teachers, HEADS UP before you head for your STRS retirement conference!

From John Curry, May 4, 2006

Potential retirees of STRS -- try $650 per month (IT'S $501 PER MONTH NOW) to cover JUST your spouse for healthcare insurance if you retire next year!!!!!!!!!!!! If you go for retirement counseling, ask. They will probably JUST tell you that the figure is not finalized yet. They really don't want to tell you what you will read below. Well, check out these figures!

John

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From Molly Janczyk, May 4, 2006

Subject: 2007 Retirement HC costs projected to be 27-32% over 2006

2006 brought HC premiums of $501 for STRS spouses. 2007 is projected to be approx. $650-ish range for spouses. These figures HAVE been discussed and STRS DOES KNOW this is most probable! All attendees at the STRS Board meeting have heard these figures as the projection. Leone, Lazares and Buser were dismayed and shocked! While raises were anticipated and some catch-up over 2006 expected, THIS WAS NOT the expectation by membership. Asbury told me it would be in the 12-15% range. He did not reveal the total picture which includes spouses for many. It may be in his range for beneficiaries but far exceeds that for spouses. I keep forgetting we need to ask specifically for each class as answers are only given for what they wish you to hear at the time.