While we were glad to see that legislators on the Pension Oversight Committee signed a resolution protecting your current benefits, AERA is still concerned about the outside sources that are advising this Committee.
Please read full story below. One area I would like to point out is that funding for retirement is like having a mortgage. When you purchase the home, you know you will not or cannot pay the entire amount at one time. This same principle can be applied to your retirement benefits. RSA plans over the long term not short term. RSA stands in better shape than most retirement systems across the country.
Finally I want to bring to your attention that the “professional advisors to the legislators” do not see pensions and health care in the same manner that actives and retiree do. We must be ready to defend PEEHIP funding.
Please share this information with other retirees who do not have email.
Happy Thanksgiving to you and your family. Be safe.
By Brandon Moseley
Alabama Political Reporter
On Thursday, November 19, State Representative Lynn Greer (R-Rogersville) said that the Committee that is looking at reforming the retirement system intends to guarantee the benefits that state employees were promised.
Representative Greer said in a statement, “During our November meeting, the Pension Committee unanimously passed a resolution that was signed by Senator Orr and me stating that the intent of the committee was to guarantee every retiree on the state pension plan and everyone still paying into the plan today would receive what they have been promised. No one has ever mentioned taking money from the pension plan and funding the two state budgets. We have been doing just the opposite, taking money from the two budgets that could be used for other purposes, including pay raises, and trying to help the pension plan become more financially sound.”