![]() ![]() ![]() The only question is how much more in annual state – which means taxpayer – appropriations to reinstate these retiree benefits.įrom the retiree's point of view, these annual adjustments compounded each year, piling on each other and raising a retired teacher’s "average pension" from $40,151 in 2006 to $43,053 by 2011.īut the COLAs’ price tag jumped from $62.9 million to $104 million over those same five years for retired teachers. There is no question that the restoration of full annual COLAs to all retirees would cost more. ![]() More: RI state retirees again beg legislators to restore pension COLAs wiped out in 2011 reformīy Jacquard's estimates, the potential cost to the state would be between $18 million and $21 million out of the state's general fund, as opposed to the retirement fund.īut more than one retiree asked: why bother? Retired teacher Lorraine Savard even labeled as "utterly insulting" the one-time $500 stipend that current Treasurer James Diossa himself proposed. Robert Jacquard to make a case to the House Finance Committee for a one-time stipend of 3% of a retiree's first $30,000 in benefits, meaning up to $900. Older retirees told lawmakers they may not live long enough to see that happen.Īnother pocket of retirees hired former state Rep. ![]()
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