Pension Education: 3 facts that have not been brought to your attention

Madams and Sirs,

The three new inputs:

Dear Treasurer James A. Diossa.

I am writing you this letter to address an issue that is long overdue and affects thousands of Rhode Islanders.  The pension reform that was enacted years ago, and is having an increasingly negative impact on the quality of life for those who are forced to live solely on their state pensions.

I am a RI State worker Retiree. The following link is a piece written by an agent from the Economic Policy Institute. The article explains the intentionality of government decisions regarding our pension security... my pension by contract is now around $30,000 less than my defined benefit with the State of Rhode Island.

1. https://www.epi.org/publication/bp363-brief-history-of-cuts-to-the-empl…

I support Major James Rowley's position

Submitted via online webform

Inflation has reduced my standard of living. But more than anything, having no meaningful increases in my pension to counter this gives me little hope  for a future in my own home.

Currently Rhode Island retired teachers  get no cola and no benefits going forward like Social Security recipients. Approximately 67 million people receive an ANNUAL cola  with their Social Security benefits in the United states. Many Rhode Island teachers worked in districts that did not participate in the Social Security system.

I am 48 years old and have worked for the State of Rhode Island for 23 years. According to the pension calculator, if I retire at 67 years old after 42 years of dedicating myself to public service, my pension will be $42,000.00 per year. In 2037, I shutter to imagine how much that will support. When I started state service after graduating from URI with my Bachelors Degree and my eagerness to work for the citizens of this state, that is not was I was promised.

Submitted via online webform

I retired from the State of RI after 30 years of public service as a social worker with the Department of Children Youth and Families. I believe the state has an ethical and legal responsibility to provide the COLA funds that were promised in the contract when we began our employment.

General Treasurer Diossa and members of the Pension Advisory Working Group

My name is Susan L Hartnett LiCSW

I am a retired professional school social worker. I also worked for the state of Rhode Island 5 years ( Dept of Elderly Affairs and DCYF) .In the contract I am seen as a teacher even as my position is different.

I earned my masters in social work from the University of Pennsylvania and completed 23 years working for the North Kingstown Rhode Island school Department.

December 11, 2023

Dear Treasurer Diossa and Members of PAWG,

I am a retired Cranston Public School teacher, having retired in 2001. My service began in 1973. My husband of 47 years has mid-stage Alzheimer’s Disease. I am his caregiver. I deal with difficulties of this new “job” as best I can, but I lose a bit of him each day. I will care for him as long as I can, but I worry about what will happen if I become ill or predecease him. We do not have long term care insurance and long term care can be close to $12,000 per month. This is a source of constant worry.

I retired in 2010. I have never received a COLA. Not only have I never received a COLA, but I was also encouraged to take the added Social Security benefit that would have to be paid back. I was told that I shouldn’t worry about the payback because the COLA would make up for it when the time came. It never did come and I was left having to lose an additional 1500 dollars per month. On top of all of this, the WEP/GPO took 2/3 of my Social Security. It seems, every where I turned, what I was promised, was not what I received. It has made a significant difference in my quality of life.