Ryan Holderman to STRS Board: All we ask is fairness

From Ryan Holderman, October 12, 2010
Subject: Pending vote on the HPA proposal

To the STRS Board:

I am writing to ask that you vote against adoption of the HPA proposal that is on the agenda for this month's board meeting. The proposal does nothing to address the plight of those teachers who retired prior to the enactment of the enhanced benefit package of 1999 - 2000. Retirees prior to that time not only receive a smaller percentage of their FAS but also worked at a time when salaries were significantly lower. They have seen their health care costs soar, their spousal subsidies vanish and the helpful "13th check" disappear. Under the existing HPA proposal these same career teachers would face an immediate reduction in their COLA once the legislature acted. They have no options. Those least able to afford reductions in income have no one to advocate on their behalf.

I ask that you consider very carefully the impact that the HPA proposal will have on those who retired prior to 1999, those who have no voice speaking on their behalf. Do not support a plan that delays cuts and other changes for those who already enjoy enhanced benefits, higher salaries and still have the opportunity to adjust their retirement plans.

Older retirees realize that changes are needed in order to keep the pension plan solvent and health care affordable. All that they ask is that the changes be administered fairly and that decisions made by the STRS board are made with the welfare of all retirees in mind.

Sincerely,
Ryan L. Holderman