Connecticut Losing Billions of Potential Revenue
The Yankee Institute for Public Policy (Mark E. Fitch) reports “Connecticut lost $1.1 billion to other states in 2018 and ranked sixth in the nation for loss of income and wealth to other states.” Retirees make up a significant portion of the income and wealth loss. The Yankee Institute reported loss of income and wealth dating back to 2015 totaling many billions of dollars. Retired teachers are leaving Connecticut in large numbers. When last we checked two years ago, 36% of retired teachers from our 8 school districts (Greenwich, Stamford, Darien, New Canaan, Norwalk, Westport, Weston, Wilton) were living outside of Connecticut. We need to keep reminding our legislators to keep their promise to enact the 50% reduction in our state income taxes as an incentive to keep retirees in Connecticut.
Survey From SFCRTA
Are you considering moving from Connecticut because of the heavy tax burden placed on retirees, especially teachers? SFCRTA would like to start compiling data on this issue. If you are considering a move, even if you haven’t made a final decision, please take moment to email us at: firstname.lastname@example.org.
Please be aware that, currently, 25% of a Connecticut teacher’s retirement pay is deducted from the Federal Adjusted Gross Income before calculating CT State Taxes. This is entered on Line 45 of page 3 on FORM CT-1040. Your tax preparer may not be aware of this.
TRB Health Insurance
Do you have the correct card for the TRB health insurance plans that you chose? Anthem Medicare Advantage Card (Anthem PPO) and the
Anthem Supplement Plan (which replaced Stirling Supplement Plan) are pictured on the reverse side. Please check your cards to make sure you received the correct card for the plan you wanted.
Please remember that the Anthem Supplemental Plan covers 100% of the cost of hearing aids, audiological exams and wigs. The Advantage Plan only covers up to $1500.00 for hearing aids every 36 months.
No matter which plan you have chosen, everyone receiving health insurance from the TRB is still covered by Express Scripps for prescription drugs.
Vacancies on the Teacher Retirement Board
There are currently three vacancies on the TRB that have not been filled by Governor Lamont. The ARTC is asking Governor Lamont to fill one of these vacancies with a retired teacher. SFCRTA also endorses this position.
Our membership goes from – January to December. If you have not yet joined, enclosed you will find our membership renewal information for 2020. If a membership envelope is not enclosed, you are already a member for 2020. Remember: Numbers matter and we still face many important issues regarding our pension and health insurance.
SAVE THE DATE
Our spring continental breakfast buffet will be on May 6 at the Rolling Hills Country Club in Wilton. Our guest speaker will be Kathleen Holt, MBA, JD the Associate Director of the Center for Medicare Advocacy. She will be speaking about the changes to our insurance under the new Anthem Plans. Look for a mailing to sign up for the luncheon in late March.
NEW EMAIL ADDRESS? Send it to Roger Stenz at email@example.com
Frank Cooper, President