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.

Good afternoon. I am a Charlestown Police Officer and have been employed by the Town of Charlestown since July 1st, 1999. The new pension laws added 7 years to my minimum retirement obligations because of my age when I was hired.

I can't imagine what I will need to do to survive on 32000 per year in retirement I started paying into the system when a lower wage was offset by the promise of a livable percent of that salary in retirement.

I have been working in the school system for 20 years, and as I approach retirement age I am concerned about the lack of benefits I am going to receive. The first 10 years of my career I was promised a much greater percentage, and earlier retirement.

Honorable James Diossa, State Treasurer

And the Pension Advisory working Group

State House, Room 102

Providence, RI 02903

I started working with the city of East providence in 1997 with the plan of retiring in 30 years . I would ask the board to respectively implement that again for people that were already invested in pension system when changes were made . Thank you .