Rich DeColibus to STRS Board: everyone deserves to be treated fairly and equally
From Rich DeColibus, October 7, 2010
Dear STRS Board Members,
Everyone understands the necessity for STRS to regain a more solid financial foundation. Everyone understands what we have now in the way of benefits cannot continue because, at this point in time at least, we are paying out more (a lot more) than we are taking in. Therefore, adjustments must be made.
The two fundamental factors which make up the mainstream of the revenue outstream are time and money ("When can someone retire, and what do they get at that point in terms of a pension and benefits?"). It seems to me, on a fairness basis, that all members should be treated equally, in this case in terms of what they have to give up so STRS can reach fiscal solvency. It is my understanding we have about 100,000 retirees and 400,000 actives and, from my point of view, all half million members need to contribute something, and they need to contribute it at the same time and in roughly equal proportions.
I'm not much familiar with the details of the plans being proposed; I'm retired and I figure I have a Board and an Executive Director to deal with the details. However, some things are universal in the pantheon of Man: everyone deserves to be treated fairly and equally. If, whatever you finally decide upon, it doesn't meet that simple standard, then it's a lousy plan no matter what it says, or how vociferously it is justified.
Rich DeColibus
Rich is former president of the Cleveland Teachers Union.
Dear STRS Board Members,
Everyone understands the necessity for STRS to regain a more solid financial foundation. Everyone understands what we have now in the way of benefits cannot continue because, at this point in time at least, we are paying out more (a lot more) than we are taking in. Therefore, adjustments must be made.
The two fundamental factors which make up the mainstream of the revenue outstream are time and money ("When can someone retire, and what do they get at that point in terms of a pension and benefits?"). It seems to me, on a fairness basis, that all members should be treated equally, in this case in terms of what they have to give up so STRS can reach fiscal solvency. It is my understanding we have about 100,000 retirees and 400,000 actives and, from my point of view, all half million members need to contribute something, and they need to contribute it at the same time and in roughly equal proportions.
I'm not much familiar with the details of the plans being proposed; I'm retired and I figure I have a Board and an Executive Director to deal with the details. However, some things are universal in the pantheon of Man: everyone deserves to be treated fairly and equally. If, whatever you finally decide upon, it doesn't meet that simple standard, then it's a lousy plan no matter what it says, or how vociferously it is justified.
Rich DeColibus
Rich is former president of the Cleveland Teachers Union.
posted by Kathie Bracy at 6:59 PM
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