I had to relocate because of my low pension. I actually had to create my own COLA RI was to expensive so moving to a place less expensive was my only option. We need the COLA to be reinstated ASAP.Thank u

Submitted via online webform

As a 28 year employee of a RI Public School System, I contributed a great deal of my earnings to this retirement system.

During my tenure, every $100 I contributed was indeed worth $100. As a retiree, every $100 I now receive is worth far less. Paying 15 to 20 percent more for goods and services is tantamount to receiving 15 to 20 percent less in my retirement check. It's time to revive COLA and preferably retroactively. Show us retirees a little consideration and respect.

To: Members of the Pension Advisory Working Group

My name is David A. Doucet. I began my career in Law Enforcement in 1985, beginning with the Pawtucket Police Department. Several years later, I transitioned to the Smithfield Police Department, before joining the Rhode Island State Police (RISP) in 1992. Upon completing 25 years of service with the State Police, I was statutorily retired from the Division on April 1, 2017, retiring at the rank of Detective Lieutenant.

I realize most of the people in attendance at the Pension Advisory meeting have heard what I am about to tell you before I will try to be brief and to the point.

The town that I taught in was Johnston, Rhode Island they did not pay into social security so I fell under the Windfall Act. I always worked a part time job so I would qualify for Social Security: The windfall act reduced my Social Security benefits by two-thirds of my government pension. When the suspension of the cola was being discussed no one seemed to care how the people under the windfall act would be affected.

Rhode Island political corruption at its worst—this describes the Pension Security Act introduced by the General Assembly in 2011, and enacted on January 21 2012.

Let me list the pertinent facts:

27,000 then retired teachers and state workers were receiving ERSRI contracted pensions which included COLAs of 3% per year. These cost of living increases were ruled to be legally guaranteed in pension rights by Supreme Court Justice Frank Williams in 2007.

The state blatantly violated the contract by withdrawing all COLAs.

Many retirees have died without receiving a promised Cola benefit. Many more will if we have to wait for the fund to reach 80%. Please consider lowering the 80% threshold to 70% and also allow retirees to start collecting a Cola after 5 or 6 years after retirement. It will allow the fund to increase (although slower) while allowing retirees some Cola benefits before we die. Present retirees are taking it on the chin until this arbitrary 80% is reached.

We are bitter and betrayed after making life long decisions based on our employment benefits which were unlawfully taken away.

For thirty years, I went to work everyday to a job I loved that was extremely challenging and time-consuming. It was so rewarding to know that I was positively affecting the lives of thousands of young men and women as a public high school educator. With professional advice I was advised that I should retire and would be grandfathered with the agreement we as public educators had which included an annual cost of living adjustment (COLA). Unfortunately, I never received the promised COLA and was forced to readjust my retirement budget that now barely meets my financial needs.

Mr. Diossa, please lets get this corrected! What was done was wrong for all the people who were employed and did not get what they were told. Thank You

Submitted via online webform

As a public high school teacher who retired in 2009, I understood that the RI pension plan reform bill had to be adjusted. The age requirement to collect the pension, the automatic 3% compounded cost of living adjustment, and the 28 year requirement for retirement needed to be changed. The Raimondo plan was entirely unfair. Because of it, my purchasing power has declined tremendously since I retired in 2009. I believe a fair program would be something like the Federal Social Security cost of living adjustment. It's based on the average CPI rate.

Dear Treasurer Diossa