Re(1): enhanced cola IP: 71.243.241.98 Posted on November 25, 2008 at 00:58:01 AM by Larry Vincent
SARAH AND ALL,
ATTY. KLAUSNER HAS REVISED THE ENHANCED COLA PROPOSAL AND SENT IT BACK TO THE PBA. I HAVEN'T SEEN A COPY OF IT. I DID CHECK ON THIS MATTER TODAY. WENT TO THE PBA OFFICE AND ASKED ABOUT THE PROPOSAL. LEARNED THAT THE PROPOSAL IS PRETTY MUCH READY TO GO BUT THAT DUE TO THE FINANCIAL SITUATION, IT WOULD BE RIDICULOUS TO EVEN TRY TO GET IT PAST. THE WORD IS THAT WE NEED TO SEE WHERE THE ECONOMIC MELTDOWN IS NEXT SUMMER, WE MAY BE ABLE TO PUSH FOR IT THEN. SO, THE LONG AND SHORT OF IT ALL IS THAT WE ARE IN LIMBO DUE TO THE ECONOMIC DOWNTURN. I WILL CHECK WITH THE PBA FROM TIME TO TIME AND SEE WHAT THE MOOD IS. IF THE FINANCIAL MELTDOWN TURNS AROUND, WE MAY HAVE A SHOT AT GETTING IT NEXT SUMMER. IF WE PUT THIS PROPOSAL THROUGH AT THIS TIME, THE CITY WOULD LAUGH AT US AND JUST SAY NO. WE WANT THE CITY TO LOOK AT THE PROPOSAL SERIOUSLY AND SIGN OFF ON IT. NOW IS NOT THE TIME. THIS IS NOT GOOD NEWS BUT IT IS THE GROUND FLOOR SCOOP ON WHERE WE ARE. I CAN ASSURE ALL THAT I WILL NOT LET THE ENHANCED COLA DIE AN UNTIMELY DEATH. RETIREES NEED THIS BENEFIT, WE SHOULD HAVE THIS BENEFIT AND WE DESERVE IT AS WELL. THIS BENEFIT WOULD OFFSET THE MULTIPLIER. I'LL KEEP EVERYONE IN THE KNOW AS I GET UPDATES. THANKS FOR THE EMAIL SARAH. KNOW MANY RETIREES ARE INTERESTED IN THIS BENEFIT.
LARRY VINCENT Replies: