Lt. Governor Casey Cagle Applauds Teacher Retirement System Board of Trustees Vote Against COLA Rule Change

November 19, 2008

Lt. Governor Casey Cagle released the following statement regarding the Teacher Retirement System Board of Trustees Decision vote against a cost of living adjustment rule change.

“I applaud the Teacher Retirement System Board of Trustees for their vote today against a COLA rule change.  It has been my conviction to do all we can to honor our commitment to teachers who made contributions based upon an expectation of certain cost of living adjustments. Therefore, before we consider any changes to the COLA, we should resolve many questions concerning the soundness of the fund and the impact on current contributions.  During these tough economic times, it is imperative that we maintain this fund for our state’s current and future teachers.”