Inflation hits elderly harder

From RH Jones, May 27, 2009

To all:

Especially insidious for OH STRS retired members 62 and older, the U.S. Labor Dept. Bureau of Labor Statistics indicates that over a 25-yrs. period from Dec. 1982 to Dec. 2007 inflation for the elderly rose 3.3% -- This 3.3%, of course, compounds. Our 3% COLA does not.

For all the American elderly, our HC/rx, housing, and transportation costs are the main cause of these rapid increases. Insurance in homeowner, and long-term-care, has also skyrocketed. One can, therefore, conclude that cutting the retired educator COLA should not be an option to be considered by the STRS board.

RHJones, a retired teacher STRS member