Senator Kirk Schuring responds to Linda Meinelt re: COLA

From Senator Kirk Schuring, September 15, 2009
Subject: RE: STRS Concerns

Dear Ms. Meinelt,

Thank you for your letter regarding the Cost Of Living Adjustment (COLA) provided by the State Teachers Retirement System.

Please be assured that at this time there hasn’t been a bill introduced in the legislature on the subject. The STRS board however, is considering a number of recommendations to make to the legislature regarding retirement benefits. Some of those recommendations might include a COLA reduction. STRS will make there recommendations official at a meeting of the Ohio Retirement Study Council scheduled for September 9th. After that is done, it will be up to an individual legislator to sponsor a bill and it will then have to pass in the house and the Senate and also be signed by the Governor before it can become law. As you can see, this issue is in its very early stages, and far from becoming law.

Also, it is very important for you to know that I was the sponsor of the law creating the 3% COLA during my last term in the Ohio House and therefore I am very sensitive to this issue.

Thanks again for writing and always feel free to call or write whenever there is an issue that concerns you.

Sincerely,

Charles Willoughby

Administrative Aide
Senator Kirk Schuring
Call: 614.466.0626
Fax: 614.466.4250
Charles.Willoughby@senate.state.oh.us

From Linda Meinelt, September 3, 2009
Subject: STRS Concerns

The STRS Board has made its recommendations for "shoring" up the system for retirees, current and future.

As a retiree, I feel they have erred in recommending the COLA be cut to 2% for current retirees.

Retirees have seen their health premium costs rise and their out-of-pocket medical expenses increase. They have little, if any, opportunity to find jobs in the current economy and many would be unable physically to return to work.

Currently employed teachers have time to plan for the changes and were, in fact, under the recommended plan, given years to plan for the changes affecting them.

I hope you, the ORSC, will recommend that current retirees be "grandfathered" at 3%.

Thank you for your consideration.

Sincerely,
Linda Meinelt
Columbus, OH