OPERS plan now on ORSC website...what do THEY say about COLA? WELL.....

From John Curry, November 30, 2009
...they (OPERS) recommend GRANDFATHERING the current 3% COLA for current retirees! Here is what OPERS has to say:
"Cost of Living Adjustment (COLA) – Replace the current 3% simple COLA with a simple COLA equal to the change in the Consumer Price Index up to 3%. This change would not apply to current OPERS retirees."
Here is a link to the OPERS recommendations as turned in to the Ohio Retirement Study Council and posted on the ORSC's website.
John
http://www.orsc.org/uploadpdf/OPERS%20board%20approved%20plan.pdf