The Southern Fairfield County Retired Teachers’ Association
Provides:
- opportunities for retired teachers from Darien, Greenwich, Norwalk, New Canaan, Stamford, Wilton, Weston and Westport to meet together.
- contributions to scholarships given to Connecticut students for college.
- information regarding issues concerning retirees.
- a voice addressing those issues
We need your support to strengthen that voice regarding the following issues:
Our Pension:
- Thanks to the work of immediate past president John Kane, along with others, our pension is fully funded and is protected through bonding and State statute. We need to continue to be vigilant to any changes suggested in the funding and/or distribution of our pension.
- Our COLA is dependent upon 1) the performance of the investments of our pension accounts and 2)whether those receiving Social Security receive a COLA. This year, after three years, we will receive a 3.6% increase in our pension.
- Connecticut is one of five states that tax public pensions. Double taxing occurs. We paid taxes on our salary when working and we pay taxes on our pension as income when retired, no matter where we live.
Our health insurance:
- Some retirees pay 25% of their pension to cover the costs of their health care insurance premium.
- For three years, the State has not contributed their monthly share ($36.70) of the $110 per month paid to districts to offset the premiums that teachers not receiving Medicare pay. That money (upwards of $60,000,000) has been taken from the HIPA, the Health Insurance Premium Account monies that come from the 1.25% active teachers contribute.
- The amount paid to offset insurance premiums has not changed in 20 years. We all know how health care premiums continue to skyrocket.
- The amount that the State will contribute for those who do receive Medicare has tried to have been reduced from one-third to one-quarter. Again the difference will come from the H1PA.
Who is who in this?
- 1)Retired teachers_who worked in other jobs before, during or after retirement and have accrued the right amount of “points” of Social Security, can apply for Medicare three months prior to age 65.
- 2)Retired teachers who are/were spouses for at least ten years of a person who paid into Social Security can apply for Medicare three months prior to age 65.
- 3)Retired teachers who started teaching in their last employing district after 1986 have paid 1.49% of their salary into Medicare. They can apply for Medicare three months prior to age 65.
- 4)Retired teachers who do not fit into any of the above categories either
- a) pay the full premium (minus the $110 or $220 per month per person) to their last employing district-for coverage under the district’s insurance coverage or
- b) pay an increased amount to Medicare for coverage.
- 5) A few districts provide retiree insurance coverage.
Districts’ costs for insurance range from $5000 to $12000 per person annually. Medicare coverage for those without enough Social Security “points” can cost close to the same amount as that of the district policies.
Money that was sent to CT from the Federal government to cover medication costs did not go to covering 0 per month for their coverage.
Social Security
Due to Federal Laws,
1) those who had earned Social Security through other work see an offset of as much as two-thirds because they have a public CT pension.
2) those whose spouses received social security see a significant reduction in the amount
they receive of their spouse’s pension upon the death of the spouse.
The Southern Fairfield Country Retired Teachers’ Association has
offered solutions.
For $15 you can help be a voice to address these issues through your membership.
We also need your help beyond just writing a check and joining. Come to meetings to learn of the issues and share your concerns. Contact legislators to help them learn what the situation really is. Join a committee: executive committee, legislative, insurance, political action, membership. Contact Janess Coffina at 203-3484613 or mkooka4@aol.com.
We need you! !