Thursday, May 24, 2012

COLA cut comparison (or guess which retirement system is throwing ITS retirees under the bus!)

From John Curry, May 24, 2012
The attachment comes from the Ohio Retirement Study Council and was dated April 24, 2012. Only the COLA cut comparison page (page 2 of 6) is attached. If you want to see the other comparison pages click on this link:
Notice how the Ohio Highway Patrol Retirement System (unlike STRS) states, with relation to the COLA cut, "Board authority to increase COLA up to 3% when funds are available." Why didn't the STRS board have this same compassion for their retirees?
Please note that a correction has been made to the OHP Retirement System's
185% of poverty rate (for a family of 2) as it is now $27,990.50 instead of the stated $26,000. Yes, STRS has many retirees who are recipients of an annual pension of less than $27,990.50 and they, of all retirees, will be hurt the most with a COLA cut.
(Click image to enlarge.)
Larry KehresMount Union Collge
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