Update on retirement issue
I offer a sincere thank you to Missouri U.S. Representatives and Senators for their help in addressing a proposed change in retirement regulations. On behalf of Missouri’s teachers, our Congressional delegation moved swiftly in response to a proposal by the Social Security Administration and Internal Revenue Service to change current practices, drastically affecting the retirement benefits for some certificated staff effective July 1, 2009.
This week the SSA and IRS agreed upon prospective enforcement and said that the July 1, 2009, implementation date would be delayed. In a letter to Sen. Claire McCaskill, the agencies said it is their intention to resolve the issue by July 1, 2010. Following a 60-day evaluation period, they expect to have a better sense of future implementation plans and deadlines.
Our Congressional delegation believes that given the current positive and collaborative spirit among all groups involved, including the IRS, SSA, Missouri Office of Administration and the Public School Retirement System as well as various stakeholders in the education community, a fair and reasonable resolution will result.
We are grateful to everyone involved in these discussions for their efforts to protect the best interests of our educators.
This week the SSA and IRS agreed upon prospective enforcement and said that the July 1, 2009, implementation date would be delayed. In a letter to Sen. Claire McCaskill, the agencies said it is their intention to resolve the issue by July 1, 2010. Following a 60-day evaluation period, they expect to have a better sense of future implementation plans and deadlines.
Our Congressional delegation believes that given the current positive and collaborative spirit among all groups involved, including the IRS, SSA, Missouri Office of Administration and the Public School Retirement System as well as various stakeholders in the education community, a fair and reasonable resolution will result.
We are grateful to everyone involved in these discussions for their efforts to protect the best interests of our educators.