Record of Testimony

I retired with the promise of receiving cost of living increases. Shortly after I retired, they were taken away. I’m finding that as years go by it is getting more difficult to keep up!

When the COLA was taken away I felt that I might, in some way assist the State in balancing the budget. After over ten years of doing without my C0LA I have come to the realization that the State of Rhode Island will never become fiscally responsible.

I am Russ Marsocci and I'm the Municipal Vice President of AFSCME RI Chapter 94 Retirees.

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 .

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.