A postscript re: Upcoming Board decision

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From Dennis Leone, January 25, 2011

What is sad is this: This board is about ready to make a decision and will be telling everyone that the plan's focus is to bring our unfunded liability under 30 years. No one will really understand, unless they read it my report, that the success of the plan will be based on the HOPE that the 4 charts I presented improve on their own. The board, I believe, will dodge this.

The fact that the 4 charts likely will not get better on their own dictates that serious cuts need to be made now affecting actives.......perhaps even eliminating the COLA for ALL new retirees in the future. The board doesn't have the guts to do it, and they likely will further punish us.