ENHANCED COLA PROPOSAL IP: 205.188.117.196 Posted on June 25, 2008 at 11:19:24 PM by Larry Vincent
TO ALL RETIREES,
PENSION CHAIRMAN PATRICK LYNCH MET WITH ATTY. ROBERT KLAUSNER RE THE ENHANCED COLA PLAN. WHEN HE CALLED ME HE SIAD THAT HE WILL BE WRITING A REPORT OF THE MEETING AND WILL MAKE SURE I GET A COPY TO GET OUT TO THE RETIREES. THE PLAN IS TO TRY TO GET THE PLAN ROLLING THIS YEAR. THAT MEANS THAT THE PLAN HAS TO GO TO THE HILLSBOROUGH LEGISLATIVE DELEGATION BY MID DECEMBER OF 2008. ATTY KLAUSNER SAID HE WILL GIVE PATRICK INFO WITHIN THE NEXT 2 WEEKS. ONCE I GET THE INFO, I'LL BE SHARING WITH YOU ALL. I CAN SEE THAT THERE ARE AREAS THAT WILL NEED TO BE REWORKED BUT ALL IN ALL, THE PLAN SEEMS TO HAVE THE NECESSARY MERIT TO GET PASSED. ATTY KLAUSNER WAS IMPRESSED BY THE WORK DONE ON THIS BENEFIT AND HE SAID, WITH A FEW CHANGES, IT IS DOABLE. WILL AWAIT FURTHER INFO BEFORE I EXPAND. JUST WANTED ALL TO KNOW THAT THE PLAN IS IN THE WORKS, WORK HAS BEEN DONE ON IT, AND THE ATTORNEY SEES IT AS DOABLE. NEXT, THE PLAN HAS TO GO TO THE ACTUARY FOR REVIEW AND CALCULATION. PATRICK THINKS THE TRUSTEES WILL APPROVE THE EXPENSE OF THE ACTUARY REVIEW. AT THIS TIME, THERE IS ENOUGH LEAD TIME TO GET THIS BEFORE THE DELEGATION BY DECEMBER. WE DO HAVE SUPPORT ON THE DELEGATION AND CAN GET APPROVAL. WILL UPDATE ALL AS WE GET MORE INFO. UNTIL THEN.
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