Record of Testimony

Good afternoon,

Let me start by saying how much I appreciate this group being formed. I am a retired firefighter with 30 years of service. I took my regular retirement when the stress of my job became to great and started causing health issues.

Any state surplus funding could have gone into the state retirement coffers under the auspice of the state treasurer. Seth Magaziner never submitted any surplus moneys to these coffers.

Subject: 2011 State Pension Law

I retired in June, 2016, at age 66, after working for the state for 31 years. The US Bureau of Labor Statistics figures indicate that for each $1.00 in pension payments I received at that time, I would need $1.27 today, just to break even with the increased costs of living.

THANK YOU FOR TAKING THE TIME TO CORRECT AN INJUSTMENT THAT HAS HURT THE LIVES OF PEOPLE WHO WORKED HONORABLE FOR AT LEAST 28 YEARS. I HAVE BEEN RETIRED FOR 15 YEARS. I AM LIVING ON AND MAKING PURCHASES WITH MONEY THAT IS 15 YEARS OLD.

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.