Record of Testimony

I should have been able to retire 4 years ago. Now I must go another 3 years. When I first started, my goal was to retire early and watch my grandchildren, that opportunity is passing me by. After 34 years of teaching, I should be allowed to enjoy the retirement I was promised.

As a retired firefighter in the RI state pension system, I submit that the method for determining annual COLA's is far too modest and continues to erode our ability to keep pace with inflation. Especially since my jurisdiction did not allow us to participate in social security. Thank you.

Greetings. I am approaching the end of my first year of retirement from state service. Prior to retiring, I understood that I would be receiving a pension, and assumed it would be in the form of fixed income.

Pension Testimony

My name is Mark Sullivan I did not work the state of R.I. I worked for the City of East Providence for thirty years.

I have been negatively by the pension reform. I originally taught for 4 1/2 years in a private school. I stayed home with my children for 11 years. Then I subbed in public schools for several years. Soon after being hired in a public school in 2000, I purchased five years in the pension system.

December 14, 2023

The Honorable James A Diossa, General Treasurer

82 Smith Street Room 102

Providence RI 02903

Dear Committee Members:

I retired from URI in September of 2021. However, for financial reasons due to an unexpected divorce, I returned to work at URI in December of 2022 .

I have been a teacher in RI since 1995 when I became a teacher and thought I signed up for a 28-33 year commitment with a pension between 60-80% depending on the number of years I worked. BUT, the pension reform of 2011 changed all of that!!!

I started teaching at age of 37 in February 2000. At that time I was told I could retire between 60 and 62 with an approximate pension income of 50% of my salary.