Linda Meinelt to ORSC: Protective provision needed if COLA is cut and market rebounds

From Linda Meinelt, January 24, 2010
Subject: Fw: STRS

Please share with all members of the ORSC:

As the time draws closer for you to decide the future of the retirement systems, please keep in mind that current retirees have really taken the "hit" and, under the proposed plan, will be again "hit'' the hardest by changes.

If the non-compounded COLA is cut to 2%, a clause should be included that if/when the market recovers, the COLA for current retirees return to 3%.

Linda Meinelt
STRS Retiree