COLA CUTS - $$$$$

From Mario Iacone, March 5, 2010 The Colorado pensioners have filed a class action lawsuit because,

COLA CUTS are a

SIGNIFICANT REDUCTION IN PENSION BENEFITS

$300 COLA CUT

10 yr loss of income would be $16,500

20 yr loss of income would be $63,000

$600 COLA CUT

10 yr loss of income would be $33,000

20 yr loss of income would be $126,000

$900 COLA CUT

10 yr loss of income would be $49,500

20 yr loss of income would be $189,000

PLEASE REVIEW THE CHART (Click to enlarge)

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A STRS retiree receiving a $900 COLA benefit would be cut $300 yearly if COLA is reduced to 2%.

$450 yearly if COLA is reduced to 1.5%

$600 yearly if COLA is reduced to 1.0%

$900 yearly if COLA is eliminated

Lifetime income is substantially reduced with any yearly reduction in COLA.

To obtain, contact information for your State Representative or your State Senator, click on the following link: http://www.legislature.state.oh.us/