RPEA Commemorates 100 Years of the State & Local Retirement System with Comptroller DiNapoli

On November 9, RPEA President Diana Hinchcliff and Executive Director Ed Farrell presented Comptroller Tom DiNapoli with a plaque to celebrate 100 years of the State and Local Retirement System.

Diana noted the strong financial position of the Pension Fund (Fund) with a 99.3% funded rate, one of the strongest in the country. Comptroller DiNapoli renewed his commitment, as sole trustee, to protect the integrity of our defined benefit plan. Also, Comptroller DiNapoli thanked RPEA for our strong opposition to attempts to reduce the Fund’s ability to provide benefits to retirees and beneficiaries.

A portion of the presentation was taped and placed on the Comptroller’s website and social media pages. Those who receive his e-newsletter would have seen it there already as well. For everyone else interested in seeing the presentation, click below to watch:

Cost-Of-Living-Adjustment (COLA)

It is also important to note, Comptroller DiNapoli pledged to assist RPEA in our efforts to work with the legislature to re-examine the current Cost-Of-Living-Adjustment (COLA) formula. This is indeed good news and will be extremely helpful as we renew our efforts when the legislature reconvenes in January 2022. Click the video below to hear more: