[Vision2020] Fwd: Fw: Retiree COLA
Tom Trail
ttrail@moscow.com
Wed, 19 Nov 2003 09:56:06 -0800
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>Visionaries: The following information will be of interest to those
who are retirees under the PERSI retirement program. I also talked with
PERSI Director, Alan Winkle, last week. He told me that the PERSI portfolio
has increased by 22% in value since January 1, 2003.
>
>This morning the PERSI Board voted to grant a 2.2% cost of living
>increase in retirees' monthly checks. Unless this decision is
>overridden by the 2004 Legislature, the increase will become
>effective March 1, 2004.
>
>This decision should be viewed in the following context:
>
> * a minimum annual 1% COLA is required by law
> * the PERSI Board has the authority to grant additional COLA
>increases, based on actual increases in the cost of living index, to
>a maximum of 6%; the Board was informed that the actual COLA
>increase for the past year was 2.2%
>
> * last year (2002), due to the concern with investment
>performance, the Board voted to grant the minimum 1% increase, even
>though the cost of living had actually increased 1.8%
>
> * this year the Board had three choices:
> 1. grant the minimum 1%
> 2. grant something between 1% and 2.2%
> 3. grant the full 2.2%, plus a "retro-COLA" of .8%
>(to catch up from last year).
>
>Three members of the five member PERSI Board voted for a 2.2%
>increase. Those members were Board Chair Jody Olson, Dennis
>Johnson, and Pam Ahrens. The other two Board members abstained
>(Susan Simmons and Kirk Sullivan).
>
>Rep. Tom Trail
--
Dr. Tom Trail
International Trails
1375 Mt. View Rd.
Moscow, Id. 83843
Tel: (208) 882-6077
Fax: (208) 882-0896
e mail ttrail@moscow.com
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<blockquote type="cite" cite>Visionaries: The following
information will be of interest to those</blockquote>
<div><br></div>
<div>who are retirees under the PERSI retirement program. I also
talked with</div>
<div>PERSI Director, Alan Winkle, last week. He told me that the
PERSI portfolio</div>
<div>has increased by 22% in value since January 1, 2003.</div>
<div><br></div>
<blockquote type="cite" cite><br>
<font face="Arial" size="-1">This morning the PERSI Board voted to
grant a 2.2% cost of living increase in retirees' monthly checks.
Unless this decision is overridden by the 2004 Legislature, the
increase will become effective March 1, 2004.</font><br>
<br>
<font face="Arial" size="-1">This decision should be viewed in the
following context:</font><br>
<br>
<font face="Arial"
size="-1">* a minimum annual 1% COLA is required by
law</font><br>
<font face="Arial"
size="-1">* the PERSI Board has the authority to grant
additional COLA increases, based on actual increases in the cost of
living index, to a maximum of 6%; the Board was informed that the
actual COLA increase for the past year was 2.2%</font><br>
<br>
<font face="Arial"
size="-1">* last year (2002), due to the concern with investment
performance, the Board voted to grant the minimum 1% increase, even
though the cost of living had actually increased 1.8%</font><br>
<br>
<font face="Arial"
size="-1">* this year the Board had three choices:</font><br>
<span
></span> <font face="Arial" size="-1">1.
grant the minimum 1%</font><br>
<span
></span> <font face="Arial" size="-1">2.
grant something between 1% and 2.2%</font><br>
<span
></span> <font face="Arial" size="-1">3.
grant the full 2.2%, plus a "retro-COLA" of .8% (to
catch up from last year).</font><br>
</blockquote>
<blockquote type="cite" cite><font face="Arial" size="-1">Three
members of the five member PERSI Board voted for a 2.2% increase.
Those members were Board Chair Jody Olson, Dennis Johnson, and
Pam Ahrens. The other two Board members abstained (Susan Simmons
and Kirk Sullivan). </font><br>
<font face="Arial" size="-1"></font></blockquote>
<blockquote type="cite" cite><font face="Arial" size="-1">Rep. Tom
Trail</font></blockquote>
<div><br></div>
<div>-- <br>
Dr. Tom Trail<br>
International Trails<br>
1375 Mt. View Rd.<br>
Moscow, Id. 83843<br>
Tel: (208) 882-6077<br>
Fax: (208) 882-0896<br>
e mail ttrail@moscow.com</div>
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