STRS – COLA -- ORSC

From Mario Iacone, July 26, 2009

RHETORIC: ORSC is forcing STRS to CUT COLA.

ACTUALITY: There is nothing to suggest the above is true except for various statements and implications by some at STRS.

To the best of my knowledge, ORSC is not telling STRS to cut COLA. That is a copout!

ORSC has listed many items that can be used to help restore the 30 Year Funding Period and COLA is just one of them.

Retirees need to contact members of ORSC to find out the truth.

I have read the ORSC reports. Nowhere have I found ORSC stating to the retirement systems that COLA must be cut.

If I am wrong, I would appreciate substantiating documentation from ORSC to prove that I am wrong.