A harebrained idea.....

From John Curry, January 22, 2011

Please read what Nancy says below. Tim M. was championing this idea at the board meeting yesterday. This is a harebrained idea. And then....they wonder why retirees get irate!

John

From Nancy Hamant, January 22, 2011

Subject: Fwd: [News] January Board News Details Retirement Board Actions and Discussions

Please read the third paragraph regarding components of possible changes to Pension.

[The components contained in these scenarios include member contributions, age and service requirements for retirement eligibility, benefit formula, final average salary (FAS) period, and the cost-of-living adjustment (COLA), as well as the impact of moving the 1% employer contribution currently going toward the STRS Ohio Health Care Program to the pension fund.]

One change on the list includes consideration of moving of the 1% Health Care funding to the Pension Fund. This disaster continues to become more devastating each day.

Nancy