James Carr on STRS: They work for us. They are not the rightful STRS beneficiaries, we are.

From James Carr

June 10, 2023

STRS is trying to relieve some of the pressure we've been applying by shifting their responsibility for providing our COLA onto an actuarial firm. In other words, we don't get our COLA unless the actuaries decide STRS can "afford" to provide it.

Sorry, that's unacceptable. The problem is, the actuarial firm only gets to decide if there's enough money for our COLA after STRS has finished providing for it's own priorities. After STRS has paid for its raises; paid for its multimillion dollar bonuses; paid for its exorbitant perks, and paid for all of its other sundry (and expensive) needs, if there's anything left over, they will consider giving us an ad hoc COLA.

It needs to be turned around 180°.

If there's anything left over after they've reinstated 30-and-out and provided our COLA, the actuarial firm should consider if STRS can afford raises, afford bonuses and afford perks. It's time for STRS to get its priorities straight. They work for us. They are not the rightful STRS beneficiaries, we are.