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Date: Wed, 09 Jul 1997 14:55:26 -0700
From: "Eric L. N. Jensen" <jensen@gila.la.asu.edu>
Subject: Threat to TIAA-CREF
To: faculty@groucho.la.asu.edu, vfaculty@groucho.la.asu.edu,
staff@groucho.la.asu.edu
Cc: mathieu@madraf.astro.wisc.edu
If you have any part of your retirement money in the TIAA
(annuity) part of TIAA-CREF, you may be interested in this. I took a
look at the TIAA-CREF web page, and the proposal mentioned below was
approved in the House budget but not the Senate budget. The two
budget bills will be reconciled by a committee soon, and it's not
clear which way the decision will go.
------- Forwarded Message
Has anyone heard how the current congressional budget bill (House version)
threatens TIAA-CREF? If you have a retirement account with them, as most of us
academics do (not only teachers, but lab assistants, slide librarians, etc.),
you ought to take a second to speak out for it. The plan is to remove TIAA-
CREF's tax exempt status, which would have the effect of reducing benefits and
accumulations immediately for everyone. The plan was hatched abruptly and with
out discussion, as is the preferred manner for nasty tricks like these. In
dollar amounts, and in targeting a group of individuals for major damage, the
NEH/NEA/IMS attacks are small potatoes by comparison.
We need to fight back very quickly. Feel free to copy and send this message
out promiscuously. More information about this whole imbroglio, the proposal
and how to contact your congressperson, can be found at:
http://www.tiaa-cref.org/ending.html
This is very important, and inaction could spell defeat. Since academics have
nothing of a lobby compared even to, say, the organization of air conditioning
contractors, we need to go the extra mile ourselves. I urge you to contact
the powers that be. And soon.
Fred Bohrer
Associate Prof. of Art
Hood College
fbohrer@american.edu
------- End of Forwarded Message