Honorable Judge Rhodes:

Subject: Objection of Creditors Recoupment with Interest

1.The Bankruptcy Documents that I received quote that Your annuity Fund Excess Amount
will be Capped at 20% of your highest ASF account balance during the period July 1, 2003
through June 30, 2013 and the amount will then be converted into monthly annuity amounts
based on your life expectancy and other factors. The monthly Annuity Savings Fund Excess
Amount will be deducted from your pension check end quote. My recoupment was shown as
$89,000 or $600 a month. My calculations showed that I would pay back the $89,000 in 12
years. However the documents indicated that the amount is based on life expectancy. I am age
55 years old so my life expectancy is 25 more years. So my recoupment amount would be
$189,000.

2. I quote: The total estimated amount of your annuity savings plan recoupment is: $89,000
end quote. Again, no mention of interest.

3. I proceeded to contact Dentons LLP lawyers group (which is the Counsel which represents
the retirees) and they said that there is a 6.75% interest rate added to the capped recoupment,
but it was news to them. I then emailed them, I asked where in the documentation is it stated
about the 6.75%. I have documentation, in written form, that the 6.75% interest rate is not
included in any of the bankruptcy documents.

The bankruptcy documents received stated to be in a plain language Summary but yet
never do they mention the 6.75% interest rate would be added to the recoupment.

4. I again Quote,The City believes that the Annuity savings Fund Recoupment Process,
subject to the 20% cap, will permit the City to recover approximately $230 Million of such
excess interest. End quote. With the 6.75% of interest the City will recoup more than $400
Million versus the quoted amount of $230 Million.

5. Once my recoupment allotment has been paid, the same monthly deductions will continue
until the retiree dies and then the recoupment amount will continue in the beneficiarys
allotment. This seems to be excessive, especially if the retiree started with the City at a young
age.

6. In addition, the 6.75% interest is much higher than a typical mortgage or home equity loan.

In summary, Honorable Judge Rhodes. I do not believe this is fair and equitable to have a few
pay for the majority. This was done to have achieve more Yes votes. I believe that it is
unjust and deceptive to impose a 6.75% interest rate on top of the capped recoupment when it is
never stated clearly or in plain language in the bankruptcy documents. Honorable J udge
Rhodes, would you sign a legal document without fully documented accounted costs?

Respectfully,
Steven Wojtowicz
DWSD Retiree