Molly Janczyk re: 13th check and COLA

From Molly Janczyk, March 10, 2007
Subject: 13th cks and COLAS: Ohio STRS to get 66.5 mil for AOL "cooking the books"

Actually, I believe 13th cks and COLAS are from discretionary money as well when STRS had such and were at 30 yrs unfunded liability or below. While it is questionable that we HAVE to by law be at 30 yrs or below for other perks, it is recommended at the least by the state. It is like a mortgage: We are now at 47.7 yrs to pay off all liabilities vs. 30 yrs or less to pay off liabilities. Just not a good place.