President’s Message
Working for you! Join us.
Retired teachers’ health insurance continues to be an area of great concern to the SFCRTA. The original intent of the TRB Health Insurance Premium Account (HIP A) was to defray the cost of health insurance premiums for retired teachers. The State promised to contribute an estimated one-third of this cost. The remainder was to be paid by educators, active and-retired.
- 53,000 active teachers contribute 1.25 of their salary into HIPA.
- 33,000 retired teachers contribute their premium share (this year approximately $125.00 per month.)
The State’s budget for fiscal year 2014 and FY 2015 reduces their share from one-third to one-fourth. This is a reduction of 21.6 million dollars. In addition, the State made a statute change which enables them to use the federal reimbursements received by the TRB (under the retiree drug subsidy provisions) to offset the amount they contribute. These federal funds would normally go directly into HIPA, but now the State is using these monies as part of their one-fourth contribution. This is an additional reduction of 28.1 million dollars; in total a two year reduction of 49.7 million dollars from the state.
The State is not contributing its promised share into HIPA and the fund is projected to be in jeopardy in the future. When the time is appropriate, we will be asking you to contact your State legislators to rectify this situation. Stay tuned and please try to recruit new members to the SFCRTA. There is strength in numbers.
Respectfully,
Frank Cooper, President
Save the dates
• April 10, 10:30 a.m., General Membership Meeting, Guest Speaker Darlene Perez, Administrator of the Teachers’ Retirement Board
• June 11, Luncheon at the Continental Manor in Norwalk, Guest Speaker James Stirling, CEO Stirling Benefits
Help us to help you!
Here’s how:
| ISSUE | SFCRTA | YOU |
| Safeguarding your pension | Communicating with Denise Nappier, State Treasurer, Darlene Perez, TRB Director and State legislators. | Join SFCRTA.
Come to the April 10 meeting to hear from Darlene Perez. |
| Protecting health insurance and HIPA health |
Communicating with TRB and State legislators. |
Join SFCRTA. Be prepared to contact TRB to promote quality insurance Coverage for retirees . |
| Federal benefits WEP/GPO repeal |
Collaborating with national efforts to repeal policies which limit Social Security benefits. |
Join SFCRTA. Contact your Senators and Representatives in Washington. |
| Staying informed about issues impacting retirees |
Communicating with State legislators and the TRB. Disseminating information to the members of SFCRTA. |
Join SFCRTA Go to www. SFCRTA.com. |
If there is an envelope in this mailing, according to our records, you have not joined for the 2014 calendar year. Your payment of $15 dues allows SFCRTA to continue to address the issues facing retirees and to keep you informed. Please join us!