The State of Washington now has the chance to save money and right a wrong at the same time. Our retired teachers are part of the State’s Teacher Retirement System, which has passed along a few meager cost-of-living increases over the years. This small amount especially over the past two decades is because the state has not fully funded their share over many years.
The teachers contributed their share during their careers, but the state did not. Senate Bill 5085 in the current session would combine the overly funded retirement law enforcement and fire fighter’s retirement plan with the underfunded teacher’s plan. It would not decrease the fire fighter/law enforcement already platinum retirement plan, and would save the state $600 million over the next four years, by not having to continue to make up for the underfunding by the state of the teacher’s retirement plan.
Please let your legislator know that it is time to right a wrong.
Bruce Boyer
Washington State School Retirees’ Association
Stanwood
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