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Re: STRS Savings

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  • SarahCreeley@aol.com
    Dave, You are wonderful! Thank you for answering my questions so quickly! Take Care, LOVE, Sarah PS. Do you know where I can get a paper copy of the Draft
    Message 1 of 3 , Jul 25, 2005
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      Dave,
      You are wonderful!
      Thank you for answering my questions so quickly!
      Take Care,
      LOVE,
      Sarah

      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 Dave!


      Sarah,
       
      Thanks for writing back...and asking such good questions. Here are a few
      quick answers:
       
      (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.
       
      take care,
      db 
       ----- Original Message -----

      > From: SarahCreeley@...
      > To: dbrown247@... ; wccusdtalk@yahoogroups.com ;
      > March4Education@yahoogroups.com
      > 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!
      > LOVE,
      > Sarah


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