Nancy Hamant to Senator Schuler re: HB 151

Nice letter, Nancy. You touched on an important fact, the federal govt. has yet to impose this mandate at a federal level. A pound of bologna can be wrapped in the American flag. When you remove the flag..... you still have a pound of bologna left! John [Curry]

From Nancy Hamant, June 3, 2007
Subject: HB 151

Dear Senator Schuler:

HB 151 is a well-intended notion, however, it targets one group of Ohio citizens unfairly -- the members of Ohio's five pension plans.

The bill will cause a major divestiture of STRS's pension fund causing the unfunded liability of the fund to rise to almost 79 years. Such an impact on the fund will trigger federal pension laws to require STRS to make massive changes when the STRS fund is just recovering from the 2000-2003 stock market losses. Probably, the same will happen to the other Ohio pension funds.

The impact will have devastating effects on the pensions of Ohio's most senior retired teachers at a time when they are struggling to pay for increasing monthly health care premiums and diminishing health care benefits. It is unimaginable as to what HB 151 will do to Ohio's economy. It is unfathomable to think that one of Ohio's lowest paid groups -- educators (as well as members of the other four pension plans) are being asked to "sacrifice" for the War on Terror when even the federal government has not asked for such sacrifice from all of its citizens.

Please, please do not vote for HB 151 or any compromise form of the bill. Just go on record and make a public statement about the issue! I look forward to your response on HB 151.

Respectfully,

Nancy B. Hamant
(Address, etc.)