Re: STRS Savings
You are wonderful!
Thank you for answering my questions so quickly!
PS. Do you know where I can get a paper copy of the
Draft report denying the transfer of territory to John
Swett? I am not able to download it on my computer.
Thanks for writing back...and asking such good questions. Here are a few
(1) The 2% state portion toward the annual STRS contribution will continue to
be paid by the state, thus saving our Distirct $2.6 million ($2.0 million in
unrestricted monies and $0.6 million in restricted)
(2) This year, the state is paying for their 2% portion out of 2 pots of
monies (1/2 from next year's general fund and 1/2 from one-time monies, hence why
the paper stated correctly that only 1/2 was in next year's budget...although
the 2% amount will be fully funded).
(3) School districts and teachers have been continually assured that the
retirement system is fiscally sound and will continue to be so for many years to
come. In fact, the state's 2% contribution was added a number of years back to
ensure a fully-funded system, and a recent auditor's report has confirmed that
STRS is on-target to deliver on its commitments.
Hope that helps answer your questions.
----- Original Message -----
> From: SarahCreeley@...[Non-text portions of this message have been removed]
> To: dbrown247@... ; firstname.lastname@example.org ;
> Sent: Monday, July 25, 2005 1:11 PM
> Subject: STRS Savings
> Hi Dave,
> Thank you for all of your good work as a School Board member.
> I am grateful for your activism for our District including your desire
> to share information and include the community. As a teacher,
> I've been understandably concerned about what is going on
> with our pensions, known as STRS. The Governor had wanted to
> transfer that financial cost to Districts. Did half get transferred,
> as I read in the paper? Is the savings from not having to pay the
> whole pension plan when you thought you would have to? Are our
> pensions that have been paid into for , in my case 16 years, still
> secure? Please explain. Thanks Dave!