Linda Meinelt to STRS Board: Keep our COLA at 3%

From Linda Meinelt, January 19, 2011
Subject: COLA

To Mr. Nehf and Bd. members,

After reading the remarks from Bd member McGreevy and I quote: "the truth is that all of us who receive or have received benefits that were not fully funded at the time of retirement are at least partly to blame for the problem that presents itself today", I am livid. I had taken from my paycheck whatever was deemed necessary by STRS or the Bd. of Education to send to STRS. I had no control over that and felt assured that, when the time came for me to retire, I would have a decent pension and good health benefits.

I also had to contribute to the OEA coffers so they could have a grand old time. Well, now I and thousands of other retirees are being blamed for problems we had no control over. Dyer and the Bd. chose to spend our pension monies on frivolous items and even to say the money was theirs to do with as they pleased. OEA has no concern for retirees.

So, after mulling all of this over, I retract my earlier statement that I want you to hold the line at a 2% COLA. INSTEAD, I want current retirees GRANDFATHERED with a 3% COLA. Figure out a way to do it that entails cuts from STRS staff, rental of building space., etc. Health benefits for STRS staff should be no better than those we retirees receive.

I am convinced that, if STRS employees were covered by STRS and not PERS, they would be a lot more concerned about saving money!! I have had to cut my expenses to cover the increase in health insurance and so should the Bd. find ways to cut expenses and not by taking away from retirees!!

Let's get rid of the smoke screen comments that selling the building and firing everyone employed at STRS would still not solve the financial problem. In my mind, COLA was the item of choice to cut from the start and not much consideration has been given to anything else. Leave my COLA at 3% and let those who still have years to teach and at higher salaries than we retirees made take the lower COLA amount when they retire. GRANDFATHER current retirees at 3%

Linda Meinelt