Robin Rayfield to STRS Board: Where's the plan to restore our COLA?
From Robin Rayfield
STRS Comments February 21, 2019
Since I began my employment at the Ohio Retired Teachers Association in August of 2017, I have had an opportunity to visit over 50 local chapters of ORTA. At each of these meetings I am asked a variety of questions related to life as an STRS beneficiary. Without exception, I am asked about the status of COLA and when retirees might expect to receive the COLA that they were promised when they retired.
After watching the STRS Board of Trustees work for several months and hearing many retirees ask for the restoration of COLA, I began to voice my thoughts on this matter. Nearly 1 year ago, I suggested that the STRS Board of Trustees develop a 'Pathway to COLA' or a 'Roadmap to COLA'.
Now, after three consecutive years without a COLA, something that was a promised benefit when people retired, STRS retirees are not any closer to knowing the conditions that must be present for a return to COLA. In fact, after observing the Board of Trustees work for over 16 months, the only mention of a Pathway to COLA has come from people addressing the Board during the public participation portion of the meetings.
I recognize that multiple objections from ORTA officers and from individual STRS retirees made the STRS decision to suspend COLA a difficult one for the Board of Trustees. What is surprising to me is that there has been little discussion at STRS Board of Trustee meetings about how to restore COLA.
Perhaps it is time for the development of a subcommittee of STRS Trustees to begin the work that is necessary for such a pathway to be developed. The many factors that must be considered, will no doubt, take time to be discussed. I do not expect that this Pathway to COLA will be developed in a matter of days; probably more like a matter of months.
ORTA remains ready to assist with the hard work of developing this Pathway. Certainly, it is appropriate for the retirees to ask, what is the plan to restore my guaranteed income?
Thank you for your time and willingness to listen
STRS Comments February 21, 2019
Since I began my employment at the Ohio Retired Teachers Association in August of 2017, I have had an opportunity to visit over 50 local chapters of ORTA. At each of these meetings I am asked a variety of questions related to life as an STRS beneficiary. Without exception, I am asked about the status of COLA and when retirees might expect to receive the COLA that they were promised when they retired.
After watching the STRS Board of Trustees work for several months and hearing many retirees ask for the restoration of COLA, I began to voice my thoughts on this matter. Nearly 1 year ago, I suggested that the STRS Board of Trustees develop a 'Pathway to COLA' or a 'Roadmap to COLA'.
Now, after three consecutive years without a COLA, something that was a promised benefit when people retired, STRS retirees are not any closer to knowing the conditions that must be present for a return to COLA. In fact, after observing the Board of Trustees work for over 16 months, the only mention of a Pathway to COLA has come from people addressing the Board during the public participation portion of the meetings.
I recognize that multiple objections from ORTA officers and from individual STRS retirees made the STRS decision to suspend COLA a difficult one for the Board of Trustees. What is surprising to me is that there has been little discussion at STRS Board of Trustee meetings about how to restore COLA.
Perhaps it is time for the development of a subcommittee of STRS Trustees to begin the work that is necessary for such a pathway to be developed. The many factors that must be considered, will no doubt, take time to be discussed. I do not expect that this Pathway to COLA will be developed in a matter of days; probably more like a matter of months.
ORTA remains ready to assist with the hard work of developing this Pathway. Certainly, it is appropriate for the retirees to ask, what is the plan to restore my guaranteed income?
Thank you for your time and willingness to listen
posted by Kathie Bracy at 10:15 PM
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