Linda Meinelt to STRS Board: Hold the line on COLA cuts

From Linda Meinelt, January 14, 2011

From: Linda Meinelt
Subject: COLA
To: contactus@strsoh.org
Date: Friday, January 14, 2011

To STRS Board Members: Governor Kasich has taken a hard line on funding for STRS and the other pension funds.

We, the stakeholders, need to take a hard line with STRS. It is past time for STRS to cut expenses (yes, more than you have!)

I urge Board members to find ways to make that huge building add some income to the STRS budget by renting out some of the space and the parking garage. Look again at staffing, bonuses, benefit packages. Leave no stone unturned in figuring ways to cut the expenses at STRS so that the stakeholders are not continuing to take the "hit."

Also, administrators need to respond to questions from STRS members the first time they are asked, not after multiple requests or not at all! Board members HOLD THE LINE and do not cut COLA below 2%. Retirees have suffered enough and have no way to recoup the losses of the COLA cut, the enormous increase in health care costs or the loss of the 13th check.

Let me reiterate, I DO NOT SUPPORT any further reductions from the 2% COLA.

Linda Meinelt
Retiree