[Congressional Record Volume 145, Number 131 (Friday, October 1, 1999)]
[Extensions of Remarks]
[Pages E2014-E2015]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                 REGARDING THE RETIREMENT OF JOE REORDA

                                 ______
                                 

                           HON. BOB SCHAFFER

                              of colorado

                    in the house of representatives

                        Friday, October 1, 1999

  Mr. SCHAFFER. Mr. Speaker, today, because Republicans in the House of 
Representatives are working to ensure 100% of the Social Security Trust 
Fund is devoted to preserving Social Security instead of being used to 
pay for new big government spending, a friend and constituent came to 
my mind, Mr. Joe Reorda, Principal of Trinidad Catholic Schools, in 
Trinidad, Colorado.
  Mr. Reorda, who plans to retire in 2000, served as a school principal 
for 31 years in Trinidad's public school system and for the last eight 
years, as principal of Trinidad Catholic Schools. During his tenure in 
the public schools, he contributed to Colorado's public retirement plan 
which provides solid, secure benefits at a reasonable cost. 
Unfortunately, when he went to work for the private school, he had no 
choice but to make payments to the Social Security system.
  Upon retirement from Trinidad Catholic Schools, he will start 
receiving his pension from the state of Colorado but his benefit from 
Social Security will be greatly reduced because of the Windfall 
Elimination Provision. Mr. Reorda knows this is not fair. First of all, 
he was required to invest in the government's program instead of being 
able to choose his own individual retirement plan. An Individual 
Retirement Account, for example, would earn for him more than what the 
government can. In fact, all Americans could be earning a higher rate 
of return on retirement funds if they were allowed to invest in 
individually directed and professionally managed accounts.
  Secondly, and more importantly, after a lifetime of hard work and 
paying taxes, Mr. Reorda should be able to trust he will receive full 
benefits when he retires. He made the required payments to the system 
in good faith so he should be able to expect the full measure of his 
Social Security benefits to be waiting for him when he retires.
  This is a very challenging time for Members of Congress. For 32 
years, Congress raided the Social Security Trust Fund to pay for 
Washington programs that had nothing to do with Social Security. It is 
time to put an end to this practice. It is time my colleagues on both 
sides of the aisle pledge not to pass any legislation that spends one 
penny of the Social Security Trust Fund.
  Mr. Speaker, it is for this reason I rise today to tell you about my 
friend, Mr. Reorda. I would like to soon be able to report to him the 
funds he's been sending to Washington are secure and will be returned 
to him in full.

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