Many of you shared your “Real Life Pension” story with us last month. Earlier this week, Bella, a paraeducator and Elected SEIU School Representative, brought those stories to our State Senators in Annapolis who will be deciding the fate of our pension in the coming days and weeks.
Call your Senator and Representatives today using this toll-free number:
1-888-216-PROMISE (1-888-216-7766)
Tell our leaders in Annapolis to support a compromise similar to that proposed by the Maryland State Education Association that SAVES the same amount of money, while protecting what we’ve paid for.
Specifically, urge them to reject the Senate version that would:
1- Astronomically increase retiree health care costs.[i]
2- Unnecessarily and severely limit pension COLAs.[ii]
3- Cut benefits for new hires making it even more difficult for our schools to attract the best and brightest.
Call today like your future depends on it! 1-888-216-PROMISE (1-888-216-7766)
http://www.youtube.com/watch?v=nRIZ0XARUcg
If you have any questions or want to get involved in the fight to protect our jobs and the kids we serve, contact SEIU Local 500’s Member Strength Department at (301) 740-7100.
[i] The Senate plan would increase deductibles from $0 currently to $500 a year, and increase out-of-pocket caps from $700 currently to $2,000 for individuals and $3,000 for families.
[ii] The Senate version would cap pension COLAs between 0% and 2%. So even if the pension’s performance is at, say, 7% annually (not unreasonable given the Dow Jones Industrial Average is up more than 12% from this time last year) retirees are held at an unreasonably COLA that would likely not keep up with the annual rate of inflation. The average annual rate of inflation between 2000 and 2010 was 2.7%, in the previous decade it was 3.2%.
