State Rep. Jack Cera (D-Bellaire) today announced he sent a letter to Richard Stensrud, executive director of the School Employees Retirement System of Ohio, asking him to rethink the recent decision to cut cost-of-living pay to SERS Pension holders while giving SERS administrators a three-percent pay increase.
“Any time you are giving raises to six-figure salary employees while cutting benefits to pension holders, questions need to be asked,” said Cera. “These SERS employees served our communities for decades, always trusting that they would be taken care of in retirement. Now they are watching as rent, gas, and other necessities get more expensive while their pensions remain the same. If there is money available to be handing out raises, those dollars should be invested in the people who have worked tirelessly to earn their retirement benefits.”
The letter, sent June 28, says SERS executives making $250,000 to $320,000 are included in the three-percent increase while many retirees barely get by on $1,200 per month. SERS has yet to respond.