Record of Testimony

The loss of the COLA has a a dramatic effect on our family. I retired in 2004 with the hope that cola’s would add to my income as the cost of living increases. I am hopefully optimistic that it will be reinstated soon. Thank you for all your hard work.

I retired 20 years ago based on the promise in our contract of a COLA which would keep my income up with inflation and the cost of living in the future. Because of the then treasurer's cancelling of our COLA'S in 2011 I no longer can say that I am able to keep up with either !!

The rule of 95 should be changed to 90 as well as any other changes that could be made to offset the pension reform of 2011.

My name is Glen Hebert I am a retired Woonsocket police Detective Sgt. Retiring in April 2005 after 21 years of service At the time of my retirement I was told by the Rhode Island Employee representative that I would get a 3% no compounded COLA. as outlined in my paperwork.

Dear General Treasurer, Members of the Investment Commission, and Governor of Rhode Island,

I am a retired police officer (Sept 2018) who served 30 years from 1988 to 2018. While in a Private Pension Plan System, I became part of a team that moved our pension from that private plan to the MERS Retirement System and this was in 1995.

The Impacts of the Rhode Island Retirement Security Act of 2011 has caused many negative effects on law enforcement in Rhode Island. I am a law enforcement officer who was directly involved and immediately impacted by these changes.

Like many I planned my retirement on the expected money I would receive through my legal and binding contract. Retiring in 2008 after 33 years of teaching, I did not receive the compounded cola as promised. This made it impossible to stop working.

I am hoping a favorable decision to receive our cola back.

Submitted via online email

The change to the Teachers Pension Plan certainly had a negative effect on both my husband, Howard, and myself. After my working for 34 years and my husband 30 working for the Town of Lincoln, we both are struggling with no COLA.