Jamie Reilly

I worked at the pharmacy at MHRH until I retired in 2008. I took the SRA option, knowing I would receive my pension plus the compounded interest until age 62. Back when I retired, taking the SRA made sense to me. I knew that once I reached age 62, the annual COLA would cover any SRA offset. I would be financially comfortable.



That scenario didn't play out, for the pension rules changed when the "pension reform" legislation passed. COLAs were put on hold until the pension system became 80% funded. Looking back, that number seems so arbitrary.



Of course, how can I not be upset, for after making the carefully thought-out decision to retire, my financial security and retirement life would radically change? Pension reform, hah! Retirees, like me, and the current actives took the hit. Not the State!



Just go to the grocery store. Or the gas station. Or the pharmacy to see how the costs of drugs, even over the counter, have skyrocketed since 2008. Making ends meet has become increasingly difficult when my pension benefit, without COLAs, is static while prices for family necessities have increased. I see this when I shop for food. Today's dollar buys about 70% of what it could have bought in 2008.



Restoring annual COLAs would help me and the 300 retirees who opted for the SRA. I know the Pension Advisory Group has been tasked with making recommendations. I am here to remind you that the lives of many, including me, have been turned upside down. I urge you to make it right; restoring annual COLAs is a good start.



Thank you.



Jamie Reilly

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