From: Owen, Janet D Sent: Thu 5/1/2008 3:47 PM To: Courtwright, David; Klostermeyer, William Subject: RE: question

I do not believe there is reason to be worried about this. If there was an impact to the state, it would be more expensive to the state, although it's actually revenue neutral. Those in the regular state employee ORP have had the right to make this switch. It was felt that those in the CC & SUS ORP should be afforded the same opportunity - to not be shut out. If you have 20+ years in and have invested well, you can probably buy in to the FRS and still have some $$ left over in your annuity.


-----Original Message-----
From: Courtwright, David <dcourtwr@unf.edu>
Sent: Thursday, May 01, 2008 2:24 PM
To: Klostermeyer, William <wkloster@unf.edu>; Owen, Janet D <jowen@unf.edu>
Subject: RE: question

Janet,

More specifically, is there reason to worry about the offer--is there any indication that they're looking for new money to address solvency issues? Why, after so much time (twenty years in my case), did they say, OK, y'all, it's not too late to come on in?

David T. Courtwright
John A. Delaney Presidential Professor
Dept. of History
________________________________

From: Klostermeyer, William
Sent: Thu 5/1/2008 1:48 PM

Janet,
David Courtwright asked a question at today's FA meeting. What was the motivation behind allowing folks from switch from ORP to the State Retirement System?