Harry Thistlewaite: A Call from STRS

From Harry Thistlewaite, December 8, 2009
Subject: PENSION CHECKS

I GOT A CALL FROM AN STRS REPRESENTATIVE TODAY. No, our retirement checks are not guaranteed for life. The hope is that we will never have another drop in the market that we had last yr. The other hope is that the new revisions that STRS is trying to implement will eventually pass the legislature. You will always have a retirement check but if the funds are not there, and are reduced again, you can probably expect a reduction in your retirement check. I talked with this guy for over a half-hour and in his estimate, we should not have any worries. Easy for him to say. I brought up 2 of the emails I sent to STRS in the past and getting a reply from them at STRS that indeed our retirement check cannot be reduced and he said that is incorrect information.

Merry Christmas and Happy New Year

Harry

Dec. 9 comment: The representative also told me that current teacher organizations are fighting many of the changes that may affect them.