Wednesday, May 09, 2012

John Curry: Just talked to Col.(Ret) Tom Rice of the Ohio Highway Patrol Retirement System and obtained some interesting facts.
From John Curry, May 9, 2012
Col. Rice related that there are approximately 1,500 retired OHP Retirement System trooper benefits recipients. Of that 1,500 retired troopers 203 of them are receiving a pension that is below the "poverty line" of $27,990.50 (see letter below). He said of those 203 that 170 of them are age 65 or over.
I thanked him for his system's COMPASSION for these retirees and also advised him that STRS has thousands of retirees in this same situation AND THAT STRS (UNLIKE THE OHP) DID NOT EXEMPT THEM FROM THE 1% COLA cut. Believe me...he was aware of that also! NOW IS THE TIME TO CONTACT YOUR REPRESENTATIVE AND LET HIM/HER KNOW ABOUT THIS INEQUITY. Remember....THEY WON'T MAKE A DECISION UNTIL AFTER THE ELECTION IN NOVEMBER.
Tom Rice to John Curry, April 23, 2012 
Subject: RE: COLA cut
Good morning. I saw your question regarding the qualifiers for older retirees and wanted to get back to you with an answer. Below is the proposed language contained in HB 69. The 2012, Federal Poverty rate for a family of two is $15,130.00. One hundred and eighty-five percent of: ($15,130.00 X 1.85) = $27,990.50. As it is proposed right now, OSP [Ohio State Patrol] retirees (age 65 years or older - see below) earning less than $ 27,990.50 per year will continue to receive a 3% COLA. We feel pretty comfortable that this provision will remain in the proposed legislation. I hope this answers your question. If not, please call me. 614-430-3553 or cell phone [xxx].
(a) For each person sixty-five years of age or older who is receiving a pension not greater than one hundred eighty-five per cent of the federal poverty level for a family of two persons, as revised annually by the United States department of health and human services in accordance with section 673(2) of the "Omnibus Reconciliation Act of 1981," 95 Stat. 511, 42 U.S.C. 9902, as amended, the board shall increase the pension by three per cent.
(b) For persons other than those described in division (B) (1) (a) of this section, the board shall increase the pension by two per cent, except that for any calendar year in which the actuarial valuation required by section 5505.12 of the Revised Code demonstrates that a period of thirty years or less is required to amortize the state highway patrol retirement system's unfunded actuarial accrued pension liabilities, the board may increase the pension to not more than three per cent.
Take care,
Col. (ret.) Thomas W. Rice, Consultant 
Highway Patrol Retirement System
Larry KehresMount Union Collge
Division III
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