9/3/10 On 9/15/10, TBC/RTA teachers will assemble for the third 2010 meeting at The Trails,
Registration - 9:00, Meeting - 9:50. The luncheon cost is $13.50. Our guest speaker is Sharon
Versup, the women's basketball coach at Purdue. She will discuss the academic side of eligibility,
the concerns of recruiting good students and good people. It is important that each of us takes the responsibility for inviting new retirees.
9/1/10 CAREFULLY EXAMINE YOUR SEPTEMBER RETIREMENT CHECK. THE 13TH CHECK WILL BE INCLUDED IN YOUR SEPTEMBER RETIREMENT. THERE WILL BE AN EXPLANATORY LETTER. THE AMOUNT OF YOUR 13TH CHECK IS DETERMINED BY YOUR YEARS OF SERVICE AND SALARY. SEE THE FEBRUARY WEB ACCOUNT.
8/28/10 Your webmaster has received a note from Bob Kraft, Chair of the IRTA Legislative Committee emphasizing the importance of attendance at the IRTA Fall Workshop, 9/22/10. The topic for the Workshop is ISTRF Defined Benefits., Bob stressed the importance of well-informed retired teachers. CONTACT LARRY WEISE FOR TRANSPORTATION. IF WE DON'T UNDERSTAND DB., FIGHT FOR IT, WE MAY LOSE OUR DEFINED BENEFIT RETIREMENT PLAN. WITH DEFINED CONTRIBUTIONS, WE CAN LOSE HALF OUR RETIREMENT BENEFITS.
ALL WORKSHOP -- 9/22/10
I am including all items, respective of catagory, in the Legislative site for easier copying and distribution of web informatiion at TBC/RTA meetings,
8/25/10 TBC/RTA TEACHERS DONATED TO VINTON SCHOOL $445 FOR SCHOOL SUPPLIES PLUS ADDITIONAL NECESSARIES. THE TOTAL CONTRIBUTION WAS VALUED AT $650. TBC/RTA TEACHERS PURCHASED, DELIVERED, ORGANIZED, AND DISTRIBUTED THESE IMPORTANT PROVISIONS TO GRATEFUL PARENTS AND STUDENTS. 75% of Vinton's 450 students are on free or reduced-price lunch. We searched for the best buys in town. On Friday, 8/13/10, at Vinton, we manned the tables from 8:00 AM.to 4:00 PM.and on Monday, 8/16/10, we continued with this important project from 12:00 PM. until 7:00 PM.. The Principal and many parents thanked us for our help. Appreciated retired teachers who contributed their time and assistance were Amy Sparks, Carolyn Mohr, Joan Banning, Jane Nichols, Judy Wright, Jim Sovern, Glenda Rund, Sharon Leavell, Linda Hawkins, and the Service Committee, Joyce Gourko, Janet Partlow, and Chair Doris Thompson.
On 8/13/10 TBC/RTA teachers assisted at the Salvation Army 'Tools for Schools'. We registered parents who had been in a line around the school since 6:00 AM.. We helped with distribution of supplies and clothing. As always, this is a very rewarding, although difficult, project. Our hearts go out to these 600 or so people needing help. We trust we are helping students be prepared for the coming school year. Appreciated volunteers were Katy Winkelpleck, Amy Sparks, Jo Battleday, Joan Banning, Kay Kleine-Ahlbrandt, Doris and David Thompson.
THE APPRECIATION OF IRTA FOR OUR TERRIFIC TRIO, DORIS, JANET, JOYCE, IS SO LARGE IT IS DIFFICULT TO DESCRIBE ADEQUATELY. OUR COMMUNITY SCHOOL SOCIAL SERVICE PROJECTS ARE ONE OF THE IMPORTANT REASONS WE EXIST AS AN ORGANIZATION. THEY ADD TO THE OVER 1,000,000 HOURS PER YEAR IRTA MEMBERS CONTRIBUTE TO INDIANA COMMUNITY SERVICE, AN IMPORTANT REASON RETIRED TEACHERS HAVE THE RESPECT AND APPRECIATION OF THE GOVERNOR AND PEOPLE OF INDIANA. THANK YOU DORIS, JOYCE, AND JANET. THANK YOU, ALL RETIRED TEACHERS WHO WERE INVOLVED IN THESE VERY IMPORTANT COMMUNITY PROJECTS.
7/15/10 The speaker at our 7/15 TBC/RTA meeting was Dr. Ed. Langston, Carol Weise's brother-in- law. His presentation concerned the Patient Protection and Affordable Care Act, signed into law
3/23/10 by President Obama, including a time-line description of the major provisions of the health system reform. Several aspects of the legislation include a high-risk pool for those with pre-existing problems, provision of health insurance to retirees over 55 who are not eligible for Medicare, , prohibition of rescission of coverage in all plans, except in cases of fraud, and other information.. Ed's was an excellent presentation, timely and informative.
7/14/10 Your webmaster attended the IRTA All Committee Workshop. B, and because of State Legislative Committee membership, it was important and enlightening to attend this meeting, chaired by Vice President Bob Kraft. Our topic of interest was, and continues to be ISTRF DEFINED BENEFITS.
Defined Benefit Pensions provide guaranteed monthly income for life.
In. teachers, active and retired, are fortunate to have defined benefit plans, both a part of the ISTRF.
Active teachers have Teacher Retirement Fund 2, a Defined Benefits Plan. a traditional plan, funded by school corporations. Retired teachers have Teacher Retirement Fund 1 (pre-1996), a Defined Benefits Pay-as-You-Go fund.
ISTRF pensions have many positive characteristics. ISTRF Defined Benefits plans makes it possible for borth the state and teachers to place money in the fund. In IN. teachers contribute annuity to the ISTRF. Plans into which the employee can place his own monies are called "contributory". The ISTRF is a "contributory plan". The annuity money is matched by the state budget or school corporations. We can access our annuity money at retirement or later as we choose. Annuity money is added to pension to increase the value of our monthly checks.
In IN. teachers have the opportunity for three legs of a successful retirement stool (analogy). Those three legs are pension, social security, and personal savings. In IL., where I taught for two years,
teachers have only teacher pension and personal savings for retirement. IL. teachers who pay into the teacher retirement fund cannot apply for Social Security.
(I am working on this for the next few days.)
The ISTRF provides income for life based on income at retirement and years of service.
The ISTRF provides supplemental important services which many funds do not, such as
spousal protection and COLAS. Our ISTRF COLAS are not automatic. We get COLAs, because we work hard for them. As a supplement to ISTRF pension, they are indispensable, as they increase the value of our retirement checks over a lifetime.
We discussed the advantages of Defined Benefits to the retiree, the community, and the fund. Many retirement funds, public and private, are becoming Defined Contribution funds. It is important that we evaluate both types of funds.
Defined Benefits save money for governments in reducing citizens' need to rely on public assistance.
The cost to deliver the same retirement income to a group of employees is 46% lower in the DB. plan than in the DC. plan.
Defined Benefit contributions are pooled and economically and efficiently managed and invested by professionals. A Fiduciary is the person responsible for the management, investment, distribution of a fund.
Defined Benefit Plans have longer time horizens than Defined Contribution Plans. providing greater stability in asset allocations. .
In Defined Contribution Plans, the employees make their own contributions to their plan at whatever rate they choose. Sometimes employers make a match, possibly $.50 to the dollar up to 6% of pay. There is no requirement that employees must make any contribution at all.
Employees make all the investment decisions themselves, from options offered by the plan.
At retirement, the amount available is the accumulation through contributtions and investment earnings.
DC plans are not required to provide a lifetime income payout. Payout may be a one-time lump sum payout.
The DC plans do not have spousal protections, disability benefits, and COLAs.
6/29/10 Thirteen members attended the TRB/RTA Board Meeting, and invitations to our 7/15 meeting were mailed to paid state members. We welcomed Jan Hinkle and Barb Davies who worked with us for the first time. Thank you all for the help. We had a discussion about future regular meeting places. On 7/15, TBC/RTA members will assemble at Westminster Village to hear Dr. Ed Langston discuss the federal health insurance program -- 9:00 Registration; 9:30 Brunch followed by the Business Meeting. 11:00 Dr. Ed Langston. If you wish to attend and did not receive a newsletter, please call Betty Wade, 463-5443 or Larry and Carol Weise at 447-5300. Cost is $9.00. Our project for this meeting is to provide school supplies for Miller School. Monetary contributions can be sent to Betty Wade, P.O. Box, 2064, W. Lafayette,IN., 47906-2064, before the July 15th meeting, or can be given at the meeting, an important opportunity for retired teacher community service. Miller School has 93% of children on free or low cost school lunches. Carol Weise, Co-President.
6/29/10 On this date, Tuesday, the TBC/RTA Board will adjourn, 1:30 PM., at the Lafayette Church of the Brethren. The meeting was called by Co-Presidents, Larry and Carol Weise, for News Letter preparation.
5/19/18 Today, Larry and Carol Weise. Co-Presidents, TBC/RTA; Donna Kenney, Legislative Chair;and Jim Sovern, Legislative Committee, attended the IRTA Representative Assembly.
This is the yearly business meeting for the IRTA One of the presentations was scholarships
to eight students (one from each area of the state). These students are in their junior or senior
year of a major in Education. Due to the generosity of the retired teachers in Indiana, they were able to increase the scholarship from $2,000 to $3,000. We elected a new Area 1V Director, Don Metzger, who is retired from Covington High School. TBC/RTA was recognized for our website.
Make sure you are keeping track of your volunteer hours. Our chapter was down 2,000 hours from
'08 to '09. Area 1V was also down. However, the state was up from 1,098,237 to 1,119, 459. These hours are figured at $20.85 an hour contributed to the state. They are used in negotiations with the Legislature. Co-President, Carol Weise.
5/20/10 The 5/20 TBC/RTA meeting was held at the Shrine Club, Lafayette, IN.. Co-
Presidents, Larry and Carol Weise, opened the meeting at 10:00 AM..During the business meeting the following reports were given: President- Carol Weise; Secretary - Yvonne Blankman, Paulette Schwartzel; Treasurer - Betty Wade; Membership - Joyce Bentley; Legislative - Donna Kenney; Community Service - Doris Thompson. The program was presented by the Tippecanoe County
Sheriff, Tracy Brown, about the multi-dimensional functions of the Sheriff's Department.
Information was given about a new program
www.nixle.com, where county residents can go to receive alerts/information affecting their community by e-mail and text message..Following the program, devotions were given by Jane Nichols. We were honored to have a presentation by Representative Sheila Klinker, (District 27). Representative Klinker discussed '10 legislation which directly impacts retired teachers -- the important HB 1205 and Amendment 9 to SB. 309. A delicious lunch was enjoyed by members and guests.. Paulette Schwartzel and Yvonne Blankman.
4/12/10 WHAT DOES IT MEAN FOR IN. RETIRED TEACHERS? As a member of the State
Legislative Committee, your webmaster, Donna Kenney, April 4, attended the IRTA All-Committee Workshop. ISTRF Executive-Director, Steve Russo, was the guest speaker.
The final version of HB.1205, signed by the Governor, joins the administrative boards of TRF
and PERF, provides a 13th check for IN. retired teachers, and drops the 1% COLA, The 1%
COLA was in the original HB. 1205 which passed the House. The Senate made changes..
Pros and Cons of joining administrative boards of TRF and PERF. PROS -- Monies of two funds are not joined. They are pooled for one reason only -- that is for investment purposes. We will be sharing investment specialists, a savings. Governor Mitch Daniels states that joining the two boards will save $50 million dollars. per year. The decision about the use of profits is made by the Legislature. If that $50 million dollars. were placed in the ISTRF, it would lower the uinfunded liability, now up to 11bd.. Steve Russo said that a larger pool of money will increase investment profits by 2% which is $50 million dollars a year. CONS -- The administrative boards members are appointed by the Governor, as is the Executive-Director, and when the administrations change, all board members may be gone, at the discretion of the new Governor.. These are political jobs. There are no guarantees that the funds savings will be used to decrease the unfunded liability of the ISTRF. That is a legislative decision.
4/06/10 TBC/RTA members are anticipating the return of our excellent co-presidents, Larry and
Carol Weise. They have provided many superb meetings with great programs during the last years,
and we have delightful group trips to interesting Indiana destinations. WE WELCOME YOU BACK!!
4/06/10 LEGISLATI VE QUESTIONNAIRES PRESENTED!! In the past two weeks, meetings with
four of six candidates and incumbents for three legislative positions have provided information to assist in completion of legislative questionnaires. Meetings with Sheila Klinker, House Incumbent (District 27); Donn Brown, House Candidate (District 27); Michael Oxenrider, Senate Candidate (District 22); Randy Truitt, House Incumbent (District 26) have provided opportunity to present information about IRTA legislative issues. Senator Ron Alting has been on a family cruise, returning soon. Hyram, Senator Alting's legislative assistant, called your legislative representative to state that Senator Alting has sent the legislative questionnaire to the IRTA office. If anyone knows how to contact Paul Roels, House Candidate (District 26) please contact Donna Kenney, webmaster, via e-mail.
3/25/10 Governor Daniels signed into law HB.1205 today at 7:45 AM. IT'S A GREAT DAY!
THE 13TH CHECK IS A MIRACLE!
3/13/10 IT''S OVER. THE LEGISLATIVE SESSION ENDED YESTERDAY. MUCH INTENSE COMMITMENT, HARD WORK FOR ANDY, NANCY, AND BOB. THANK YOU, ALL THREE. YOU ARE APPRECIATED!!! As a member of the State Legislative Committee, your webmaster was able to keep you all informed about the step-by-step processes of retired teacher legislation.
HB. 1205 passed. It joined administrative boards of PERF AND TRF, and included 13th checks for many Indiana retired teacher and members of Public Employees Retirement Fund.
In September. 2010, retired teachers who retired on or before 12/09 will receive a 13th check, as follows:
At least 30 years of creditable service -- $400;
At least 20 years, but less that 30 years of creditable service -- $325;
At least 10 years, but less than 20 years of creditable service -- $235;
Between 5 and10 years (with disability retirement benefits only) --$125.
WE MUST THANK OUR STATE LEGISLATORS FOR PASSINGG THE ABOVE LEGISLATION. CONTACT INFORMATION IS ON THE LAST PAGE OF THIS REPORT. IMPORTANT!!
WE MUST THANK THE GOVERNOR!
!
Representative Sheila Klinker, Donna Kenney, TBC/RTA Legislative Chair -- 2/5/09,
Senate E-mail address --
S_@IN.gov The Senator's district number follows the "S". .
House E-mail address --
H_@IN.gov The House Member's district number follows the "H".
Senate -- 1-800-382--9467 House -- 1-800-382-9842
District Numbers: TBC REPRESENTATIVES: Klinker - 27; Truitt - 26; Brown - 41;
Lehe - 15; McClain - 24
TBC SENATORS: Alting - 22; Landske - 6; Hershman - 7.