Dennis Leone to June Hughes: Not one board member has suggested a plan that will impact the oldest retirees

Dennis Leone to June Hughes, January 25, 2011
Subject: Re: Thank you

Yes, June, you are correct. It seems as though the Board's top priority now is to stay on good terms with OEA, rather than have a focus to do what's best for retirees.

I am so disappointed in the comments I read from Jim McGreevy and Bob Stein. It also seems that the board is convinced that the best way to fix the current problem is to clobber our COLA instead of having meaningful immediate changes for actives.

You are right, the problem of the 4 charts is already here, and the board is trying to pretend that it is not here. The bottom line is that the board will come up with a solvency plan, then HOPE that the 4 charts will somehow improve on their own so the adopted plan will work. In the meantime, we might get screwed with our COLA.

I think it's embarrassing that not one board member has suggested a plan that will impact the oldest retirees in the least. It's like they think it's more important to protect the future COLA of a 22-year-old teacher who is 30-35 years away from retirement. It's just plain dumb.

Dennis Leone

From June Hughes, January 25, 2011
Subject: Thank you

The trouble is it's already caught up with us - I retired in 1990!!! Why do we in my group have to pay for those who are retiring in the future. We paid for those before us, we now pay in the present (lower COLA, 13th check, higher healthcare payments, etc.) and the board wants us to 'save' the future retirees.

What's wrong with this picture? When do we get to really retire from paying and paying and paying for everyone but ourselves? It's a shame or it should be a shame that 70 and 80 year olds must work somewhere to pay personal bills. As an example, I know of one retiree who works at Costco.

Dennis, keep on keeping on!!!!

June