30 year/30K...a message from CORE President Dave Parshall...."once again an STRS representative stated to the board the previous 30 year pension lie."

From Dave Parshall, July 30, 2009

More information about the data from Damon

While You Study ORTA’s Pension Data Consider the Following:

The following chart was given to CORE in November of 07 by then director of STRS Damon Asbury in response to a public records request made by CORE. The request was made after a meeting between STRS, CORE, ORTA, and OEA during which STRS stated to our face that there were no current retirees with 30 years of service credit and a pension benefit of $30.000 or less. We knew that this was a lie and made a Public Records Request. During the now infamous fall of 08 healthcare meeting aimed at selling Medicare Advantage to us to save us less than one year of the Healthcare Stabilization fund, once again an STRS representative stated to the board the previous 30 year pension lie.

After that meeting, I went up to the STRS representative and strongly suggested that either he or Damon lied to us in the public information document which of course would be illegal. He told me then that all of the pensioners with 30 years and pensions of $30,000 or less benefits were surviving spouses whose husbands or wives left them with reduced benefits. Damon also told us that a complete study of what effect the 88 % rule would have on the pension fund was being completed. Damon told us in writing that study would be completed and released by July of 08. The STRS representative told me that the 08 study was done.

After this confrontation with STRS a second public records request was made, this time with Mr. Nehf. CORE met with Mr. Nehf and received the revised data. This time there were numerous sheets with additional information and more complete data. But the bottom line is that the summary information that Damon gave us concerning the pension breakdown was accurate. However, Mr. Nehf admitted to us that there was never an additional study of the 88 % rule beyond the one done in 2004. Bob Slater in 09 announced to the STRS Board that the 88 % rule has cost the pension fund 1 billion dollars so far. This additional pension enhancement needs to end and be grandfathered out. Next week I will be sending out additional information and a plan for grandfathering any changes to our annual allowance CPI (we do not really receive a true COLA).

Dave Parshall, CORE
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