Trina Kay Prufer: An almost imperceptible difference between the wording of the pre-2012 cola and the current wording - The Betrayal

From Trina Kay Prufer

September 8, 2023

The almost imperceptible difference between the wording of the pre-2012 cola and the current wording - The Betrayal

STRS would have us believe that the cola was never guaranteed because it was always variable, dependent on current law. But is that true? Lets look at the wording..

Today

“…cost of living increase is payable in accordance with the law at that time.”

(presumably this means current law )

The pre-2012 wording

“Actual benefits will be paid in accordance with STRS law in Effect at the time of Your Retirement ”

(a plain reading means the law in effect at the time of retirement)

The betrayal is STRS trying to convince us they mean the same thing. They know its a lie… so do we. STRS has a complete document library of all the literature it produced as well as the training manuals used with counselors. They are fully aware the cola was an integral part of the benefit, as they told it to us repeatedly over the course of two two decades, through the plan booklets, retirement agreements, in-person counseling sessions and workshops.

STRS is the only teacher retirement system in the nation, without social security, EVER, to manipulate a change in the law leaving its aging retirees without a financial safety net. Additionally, never has a public retirement system put forth so much time, money and effort into changing the narrative, hiding the truth and exacerbating the misery.