Trina Kay Prufer and The Lie: Neville and his staff are LYING when they tell us the defined-benefit in the pre-2012 retirement plan did NOT include the cola.

From Trina Kay Prufer

October 8, 2023

The LIE… no confidence in the Neville administration. The attempt to re-write history.

There are parts of the current ORC that contradict the 2012 reform legislation. They are in the definitions of the various funds such as the annuity and reserve fund, the guarantee fund etc. and in the statute that vests in retirees the benefits granted at the time of retirement. The 2012 reform legislation essentially takes away the 3% annual cola adjustment we earned as deferred compensation. THAT is the underlying issue that will be decided in the upcoming court case.

Neville and his staff are LYING when they tell us the defined-benefit in the pre-2012 retirement plan did NOT include the cola. I have no idea why they are perpetuating this. It is plainly in the STRS Summary Plan Document. There is nothing to gain… so why not just speak the truth, as the result is the same.

Neville is an attorney, so he should be held to a higher standard. Personally, I believe he should be FIRED for this. He is the PUBLIC FACE of STRS, an institution that MUST be based on integrity.

This issue needs to be cleared up. We deserve an apology and the truth. At this point, Neville is telling public audiences and STRS staff something he knows to be false. The lie also leaves STRS vulnerable to criticism (and possible litigation) that it was negligent in not telling membership to prepare for a possible future with a diminishing monthly benefit.