Record of Testimony

Pension Education: 3 facts that have not been brought to your attention

Madams and Sirs,

The three new inputs:

My name is Mary Riley a Chapter 94 retiree, here is my testimony.

I retired in 2010. I have never received a COLA. Not only have I never received a COLA, but I was also encouraged to take the added Social Security benefit that would have to be paid back.

December 11, 2023

Dear Treasurer Diossa and Members of PAWG,

Dear Treasurer James A. Diossa.

I support Major James Rowley's position

Submitted via online webform

General Treasurer Diossa and members of the Pension Advisory Working Group

I retired from the State of RI after 30 years of public service as a social worker with the Department of Children Youth and Families. I believe the state has an ethical and legal responsibility to provide the COLA funds that were promised in the contract when we began our employment.

Inflation has reduced my standard of living. But more than anything, having no meaningful increases in my pension to counter this gives me little hope  for a future in my own home.

I am 48 years old and have worked for the State of Rhode Island for 23 years. According to the pension calculator, if I retire at 67 years old after 42 years of dedicating myself to public service, my pension will be $42,000.00 per year. In 2037, I shutter to imagine how much that will support.