THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Sunday, December 17, 1995 TAG: 9512150021
SECTION: COMMENTARY PAGE: J4 EDITION: FINAL
TYPE: Letter
LENGTH: Short : 33 lines
Your Sunday editorial, ``An Offer Federal Retires Could Refuse'' warns federal retirees to carefully consider an offer by Singer Asset Finance Co. of New Jersey. Singer will pay them 70 percent of the back tax refund money owed them by the state of Virginia. However, there is a price. Singer will keep the other 30 percent of the money. You carefully point out, caveat emptor, Let the Buyer Beware.
Where were you when the state of Virginia was offering the federal retirees only 76 percent (the state's calculation) on the money the state owed them in back taxes? Actually, most retirees settled for 40 to 45 percent of what they really were owed. I don't remember any editorials warning the retirees of the paltry offer made to them by the state of Virginia. I don't remember you pointing out to the retirees how the Supreme Court decision in Georgia directed the state to pay full amount, plus interest. An editorial then might have changed many of the federal retirees' minds.
It is comforting to me and I'm sure many more federal retirees to know your editorial writers and the state of Virginia are protecting us from any out-of-state predators. Lord knows, we don't have to go out of state to find predators that prey on poor fixed-income federal retirees.
D.T. SNYDER
Chesapeake, Dec.3, 1995 by CNB