Michael J. Benedetto

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.

The following states are affected by the Windfall act: Alaska, California, Colorado, Connecticut, Georgia, Illinois, Kentucky, Louisiana, Maine, Massachusetts, Missouri, Nevada, Ohio, Rhode Island, and Texas.

When I signed my retirement papers I was told to expect a 3% cola every year for the rest of my life. If I was informed that the cola could be suspended at any time I would not have retired when I did, at 60%.

I truly believe that the legislators that voted to suspend the cola and the legislators that are reviewing the current system really do not understand how this has changed our lives.

Please understand that the people affected by the suspension of the cola and are under the windfall act going forward our financial position is just going to get worst.

By the way I am 75 years of age and I am forced to work part time as a substitute teacher to make a little extra money for my wife and I to live on.

This was not my plan when I signed my retirement agreement. Just a reminder, I signed agreement with the state of Rhode Island which included a 3% cola.

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