To my knowledge, no one has mentioned former Gov. Gina Raimondo steering our pension monies to an PEF (Private Equity Fund) in which, I believe, she had a vested interest.

Private Equity Funds are not a safe option for investing pension funds, and the results have been devastating to hardworking R.I. State employees such as myself.

I am Russ Marsocci and I'm the Municipal Vice President of AFSCME RI Chapter 94 Retirees.

Many members of Chapter 94 worked for State and local municipalities some of them 30 years and above. They eagerly awaited retirement knowing they could count on a cost of living adjustement (COLA) every year to help cope with inflation and maintain a steady pension income that would allow each of them to live comfartably.

I retired 20 years ago based on the promise in our contract of a COLA which would keep my income up with inflation and the cost of living in the future. Because of the then treasurer's cancelling of our COLA'S in 2011 I no longer can say that I am able to keep up with either !! As I have gotten older, my medical bills and drug cost have skyrocketed and I am not able to keep up. After sending three children to college, I still have a mortgage on my 45 year old home, which was the only way we could afford tuition along with them each taking out maximum student loans at the time.

As a retired firefighter in the RI state pension system, I submit that the method for determining annual COLA's is far too modest and continues to erode our ability to keep pace with inflation. Especially since my jurisdiction did not allow us to participate in social security. Thank you.

Submitted via online webform

I would like to remind the PAWC that the General Assembly charged them with determining the “unintended consequences of the 2011 Pension Reform Act.

I started teaching at age of 37 in February 2000. At that time I was told I could retire between 60 and 62 with an approximate pension income of 50% of my salary. The pension reform of 2011 changed my retirement to the following: Can’t retire until I’m 66.1 which will give me 29 years of service and an annual pension income of $38,000 with no proposed increases. Rhode Island is not going to be able to recruit new teachers when our neighboring states have much better pension plans.

When the COLA was taken away I felt that I might, in some way assist the State in balancing the budget. After over ten years of doing without my C0LA I have come to the realization that the State of Rhode Island will never become fiscally responsible. When my wife passed away I immediately lost half of my income. If I had my COLA the impact of this terrible event would have been somewhat mitigated. Our COLA was negotiated by our union and how it could be taken away is beyond my comprehension.

The loss of the COLA has a a dramatic effect on our family. I retired in 2004 with the hope that cola’s would add to my income as the cost of living increases. I am hopefully optimistic that it will be reinstated soon. Thank you for all your hard work.

Submitted via online webform

I should have been able to retire 4 years ago. Now I must go another 3 years. When I first started, my goal was to retire early and watch my grandchildren, that opportunity is passing me by. After 34 years of teaching, I should be allowed to enjoy the retirement I was promised. I paid into the system and should be allowed to take what I was promised.

Submitted via online webform

The change to the Teachers Pension Plan certainly had a negative effect on both my husband, Howard, and myself. After my working for 34 years and my husband 30 working for the Town of Lincoln, we both are struggling with no COLA. Unfortunately Lincoln is one of the few towns that did not join up with Social Security when it first opened. Therefore neither of us gets Social Security. We receive a small amount from other work done over the years, but because of RI law we only get 40% of that. It doesn’t even cover my Medicare bill.