Dan MacDonald and AFT lOCAL 279-R: Support for Robin Rayfield's request for STRS to lay out a pathway/roadmap to return to a COLA

Dan MacDonald's speech to STRS 
May 17, 2018

Good morning. I am Dan MacDonald, an STRS retiree, Cleveland Heights – University Heights City Schools. I retired in 2006. I am speaking on behalf of AFT’s Local 279-R, 1,000 plus dues paying retiree members strong.

After this morning’s interviews of 4 actuarial firms, our future looks bleak. Thank heavens one of them found us “uniquely appealing.” Last month ORTA Executive Director Dr. Rayfield asked STRS to lay out a pathway/roadmap to return to a COLA. With all the work on past pathways, I thought this was a tremendously accurate approach to which Local 279-R is in agreement. If you remember, last October during the Ad Hoc Committee for the Board’s Education & Planning meeting, then Board member Mr. Brooks requested that the Board add to the January planning meeting agenda a discussion of the Funding Policy geared to what happens if things get better, a discussion of the economy getting better and its positive effect on the Fund versus a Funding Policy geared to the downside. Mr. Steen supported his proposal. Although for some reason it did not ultimately make the January agenda, it still can be requested by Board members for discussion. A roadmap could be developed which all could check off the benchmarks of progress as the goals are met. Local 279-R supports Dr. Rayfield’s position.

Additionally, as was pointed out during last month’s Board meeting, anything over 120-125% doesn’t have much impact on the healthcare fund. Please consider delaying the loss of the last $29.90 of the Medicare Part B subsidy scheduled for January 1, 2019. Since the heath of the healthcare fund will be audited again this July, the Board could act in the fall. Allow retirees to keep their Medicare part B subsidy of $29,90. Let us, the retirees, know it is at least up for a Board agenda item discussion. Actives and retirees want their COLA back. No 5 year delay. No 13th check.

Thank you.