John Curry to Mike Nehf: Which is it, Mike?

From John Curry, September 11, 2009

Mr. Nehf,

In the Dispatch article(below) you state, "If no changes are made we will eventually be unable to pay benefits," Michael Nehf, executive director of the State Teachers Retirement System, told the retirement council.

Please look at the attachment (in your November 8, 2008 letter to me) and see what you said about the certainty of pension payments. You said to me, and I quote, "In simple language, once an STRS member begins receiving a pension, STRS Ohio cannot reduce that pension."

Which is it, Mike?

John

"If no changes are made we will eventually be unable to pay benefits," Michael Nehf, executive director of the State Teachers Retirement System, told the retirement council.
(Click image to enlarge.)

http://www.columbusdispatch.com/live/content/local_news/stories/2009/09/09/pension.html?sid=101

[Interesting......I heard Mr. Nehf tell one or two Columbus retiree groups in the past year basically that our pensions are safe (but those of future retirees are not). Questioned further, he indicated that the state of Ohio would fund our pensions if our pension fund dried up. Where would the state get the money? He said possibly by raising taxes. After attending the 9/9/09 ORSC meeting, it doesn't look to me as if that's very likely to happen! KBB]