Barbara Armitage to STRS Board: Don't touch our COLA

From Barbara Armitage, January 16, 2011
Subject: retirees need our fixed income to remain fixed

Dear STRS Board members:

I am a retired teacher who is worried and dismayed by the reduction of our COLA from 3% fixed to 2% fixed. That change already hurts, as there is no way to augment or improve that income, nor even a way to prepare for the change.

Retirees can ill afford a diminished income. However, active OEA members can choose to put more of their pay aside, work longer or invest differently. Why are retirees the only ones being asked to make a sacrifice?

I am also upset that employers won't be asked to contribute more, but retirees are, in the form of reduced COLAs! Once again I wonder why we are taking the hit? Is it because we are perceived as unable to fight back? Employers can afford a 1% increase far better than retirees can afford a 1% decrease! Do you realize how small pensions are to begin with? Of course you do not have to live within the restrictions of the STRS as you are not covered under STRS. Imagine your income reduced by 1%, 2%...

It's a sad day when the public employees cannot rely on their state to follow through on promises made. Contracts can be broken, but only by the large, powerful organizations, like STRS. If I were to refuse to comply with a contract I would be sued for breach.

There are other ways to save money, and again I do not understand why they are not being investigated. Perhaps you are afraid of making political enemies. You could look at salaries and benefits of STRS employees, renting space in the palace of a building you occupy, parking fees... you know how to look for budget savings. Why are you fixed on hurting the most vulnerable group?

I do not support any erosion to the COLA. I request that you represent me, an STRS member, equally in the budgeting process.

Sincerely,
Barbara Armitage