Joe Tanaka on the status of Cost Of Living Allowance for our retirees
Your COLA # 39
Happy holidays! The previous article mentioned need for a study on efficacy of the Post Retirement Allowance (PRA) benefit. I am happy to mention that the ERS Board of Trustees (BOT) at its May 15, 2012, meeting authorized a study on our proposal for a graduated PRA (less up-front, more back-end) applicable to new hires as of July 1, 2012. While not a panacea, the study however will strongly enhance movement and direction toward your Association’s goal of attaining an equitable PRA for all public retirees. Subject to actuaries work schedule, the study per se will take two months time.
We express our gratitude to BOT, especially the Administrator and the Administrative Committee, for their support overall and advocating for the study. It exemplifies our commitment from day one to collaborate with people and agencies to reach the goal above. It’s what a retiree organization should be all about folks! Keep enjoying the holidays. Mahalo.
Y. “Joe” Tanaka, Chair