BREAKING

Letter to the Editor | Showboating Won't Save G.E.R.S., Funding Will

Opinion Published On March 10, 2020 06:36 AM
Staff Consortium | March 10, 2020 06:36:02 AM

Now that the showboating, the Monday-morning quarterbacking, and the accusations against the trustees are over, the investment experts on the Senate Operations Committee are still faced with fulfilling the promises they made to the members of the GERS during their latest senatorial campaigns.

The Governor, on more than one occasion, has stated that it is not the responsibility of the Administration to fund the GERS; therefore, the wizards on the committee, whose investment suggestions would have been reckless and detrimental to the system, will be left with three options:

  1. Adequately fund the system in order that present members can receive the benefits they were promised.
  2. Partially fund the system and reduce member benefits.
  3. Do nothing and allow the system to become insolvent.

I can assure you that placing new members on the board without funding the system, and castigating present trustees for the actions of former trustees, will not improve the status of the system.

 

Submitted on Monday by Wilbur K. Callender, G.E.R.S. board chair 

 

1 Comments