Trina Kay Prufer: Bill Neville's explanation does not add up or make sense

From Trina Kay Prufer

September 30, 2023

The explanation does not make sense - I have been thinking about my discussion with Mr. Neville over the last few days, and one aspect that bothers me is his conviction that the cola was never assured because it had changed over the years.

But, that is diametrically opposed to the guidance I received during ANNUAL regional conferences. As it happens, I have a treasure trove of STRS documents, booklets and assurances, as I retired in 2003 and my husband worked through most of 2008. In those days STRS held regional conferences where STRS counselors conducted individual sessions with actives and produced print-outs with numbers, plan booklets, options, and ORC law as it pertained to the retirement benefit. It was always stressed that the 3% cola was guaranteed and a part of the benefit, as it was written into the law. So, why should I have doubted any of it?

Neville needs to provide a better explanation as to WHY we should not have believed the information STRS employees provided to us, especially as it was presented in official looking print-outs and plan booklets handed to us YEAR after YEAR. ”Actual benefits will be paid in accordance with STRS Law in effect at the time of RETIREMENT” It is a HUMAN RIGHT to know what our retirement benefit provided… after all we had to plan for our futures. Knowing what a retirement benefit provides might seem like common sense, but it is also one of the most ESSENTIAL obligations of a retirement system.

The explanation just does not add up or make sense.