Ralph Lloyd to STRS Board re: COLA
From Ralph Lloyd, August 21, 2009
It has come to my attention that the STRS Board is considering doing away with all COLA's for retirees. I feel that this is going to be damaging to alot of retirees, myself included, because the COLA helps greatly to pay the increase in Health Care reductions that come around every year. If you want to decrease the payouts you have, then decrease the salaries of the employees that you control. Of course they will tell you that you can't find a replacement for their talents. There are a heck of a lot of accounting people out in the hinterlands that need a job after the Investment Banks that went into the tank.
It has come to my attention that the STRS Board is considering doing away with all COLA's for retirees. I feel that this is going to be damaging to alot of retirees, myself included, because the COLA helps greatly to pay the increase in Health Care reductions that come around every year. If you want to decrease the payouts you have, then decrease the salaries of the employees that you control. Of course they will tell you that you can't find a replacement for their talents. There are a heck of a lot of accounting people out in the hinterlands that need a job after the Investment Banks that went into the tank.
posted by Kathie Bracy at 11:34 AM
<< Home