James McMonigle

I am recently retired. I really feel for those who retired 15 - 20 years ago and have had minimal COLA increases. Constantly losing purchasing power. Having been hired in 2000, the group I'm in really got screwed in the maximum percent of last years wages that would be paid when we retired. I took a job in 2000 with the pension being a strong consideration. So when 11 years in, at age 56, the rug was pulled out from me. It's a little late at that point to change careers. And while I had the TIAA option, the lack of years to save and some personal financial issues at home, did not create the nest egg I would prefer to have. And then to find out I have to wait 3 years for a COLA during a time of above average inflation is egregious. The state has had surpluses that could be used for COLA. There must also be other creative ways to reinstate the COLA for people who took a job with certain guarantees regarding retirement and then lost those guarantees due to no fault of their own. Kindly address these issues.

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