Last week I posted about a letter sent from the Retirement Board to the Mayor and members of City Council regarding employer contribution to the retirement plan. Yesterday at the Retirement Board’s April meeting, Chair (and CMERA member) Bill Moller informed the Trustees that Councilmember Reggie Harris – chair of Council’s Budget and Finance Committee — responded to the Board’s letter with a request for a presentation by the Retirement Board and staff to the B&F Committee on pension funding issues. The date for this presentation has not been set yet, but Mr. Moller expects it to be in early May.
I am very encouraged by this response! Previous communications from the Board to our elected officials and to city administration have been ignored in recent years. To me, their interest in learning more about the funding issues of our retirement plan may indicate a willingness to address the problems rather than just putting them off.
This is a good time for CMERA to come forward and also advocate for increased funding. The city is working on the 2024 budget now. The B&F committee has already held several public hearings in various neighborhoods. The Retirement Board presentation will provide the facts and details of the funded status of the plan right now, and what will happen if no changes are made. So it is a really good time for us retirees to tell them our stories — how we rely on our benefits and will personally be impacted if there were a loss of benefits because of a failure to make changes in employer funding.
I, as CMERA president and as a retiree, spoke to the Budget and Finance committee at their meeting this past Monday, asking them to increase funding. Treasurer Chuck Cullen plans to speak at a meeting later in the month. I’m proud to advocate for myself and my fellow members, and I know Chuck is too. But it would also be very good for Council to hear from other individuals concerned for their own futures. Council hearing many individuals tell their concerns will be so much more impactful than if they only hear from a few representatives.
Will you help? Please email me ([email protected], or use the “Contact Us” tab) so I can give you more information about how and when you can do this, as well as some ideas about what you could say.
Thank you for your continued membership and support for CMERA!