After two meetings with OPERS Executive Director Karen Carraher, it appears OPERS is resolute in its desire to improve its funding status with modifications to the COLA.
The OPERS Board was presented with several options to consider at its meeting last week. They include several combinations of possible caps and/or freezes to future COLA payments. Some of these options were developed as a result of feedback OPERS received from 70,000 retiree surveys.
More details are available on the OPERS website- www.opers.org. Additionally, the PERI website posts OPERS news feeds on our news page.
The PERI board of trustees will meet on October 24th to discuss OPERS plans and take a formal position on their recommendations. We will report our official position and on any action the board suggests PERI members may want to take on October 25th.