Volume 5, Issue 3

April 30, 2014

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DEAR PARA MEMBERS,

In the most recent edition of PA News there is an article about the current efforts of the PA Board to consider actions to "reform" the Port Authority. In that article there is a solicitation for public comment. The home page of the Port Authority's Web site also mentions this outreach to the public for comments. Your PARA Board is preparing a statement to submit to the Special Oversight Committee of the Port Authority Board. It will be posted on PARA's Web site within the next few days.

PARA continues to update its Current Issues news posts, and we hope you will use this resource to keep yourselves up to date about the public discussion regarding the Port Authority's governance and its future.

As a community, Port Authority retirees possess a treasure trove of experience, professionalism, history and perspective. If you are considering submitting a comment in response to the PA Board's request, we strongly recommend that your comments be informed, professional, supportive, encouraging and constructive. You may send your comments to: reform@panynj.gov .

This solicitation for comments follows the April 21st open meeting of the Special Oversight Committee of the PA Board* . At that meeting an outside panel of independent experts offered their comments and engaged in a candid and direct discussion with the Board members covering a wide range of recommendations on this topic. A small group of PARA Board members and retirees were present at this meeting to observe the discussion firsthand.

This is clearly a pivotal moment in the history of the Port Authority. It is in everyone's interest that the Board, in concert with the two governors, will find a way to redirect and re-energize the organization. We trust that any such action will be consistent with the basic principles which served as the foundation for success in this region, ever since the Port Compact was ratified in 1921.

These efforts by the PA Board are encouraging and we are all hopeful that they will lead to an effective resolution of the underlying root causes of the problems which have adversely impacted the entire organization and have been the subject of substantial media coverage in recent months.

Sincerely,

YOUR PARA BOARD

*Background on Special Oversight Committee of the PA's Board of Commissioners

DISCLAIMER:

The Port Authority Retirees Association, Inc. does not provide, and this notice does not constitute, legal or other professional advice. We recommend you contact your own professional advisor for such matters as neither The Port Authority Retirees Association, Inc., nor anyone associated with this notice, assumes responsibility for your relying on the information provided, even though we have attempted to ensure that it reflects our understanding of what is presented.

WHAT IS PARA?

The Port Authority Retirees Association (PARA), a not-for-profit corporation, was formed in 1989 to promote the welfare of retirees of the Port Authority (and PATH). That is accomplished by PARA's acting as spokesperson for Port Authority retirees. We foster and encourage legislation that maintains or improves our circumstances primarily as it affects the pensions of the New York State Retirement System. Our more than 4,000 members are strengthened by PARA's affiliation with the Alliance of Public Retiree Organizations (APRO) representing more than 350,000 members.