Connecticut Legislature Report
ARTC 50% Income Tax Exclusion Success!
Thanks to members of the Southern Fairfield County Retired Teachers Association (SFCRTA) and Association of Retired Teachers (ARTC), the advocacy of our lobbyists, and CT Legislators, all CT retired teachers will finally realize in this biennium budget the promised 50% State Income Tax exclusion. ARTC was the only retired teacher organization that submitted testimony petitioning for the 50% exclusion in this budget along with the many member messages of support to the Finance, Revenue and Bonding Committee. When it takes effect, this 50% tax exclusion will make the teaching profession in our State more equitable and attractive.
Please share with all your teacher friends the good news and be sure to tell them that joining ARTC gets results that benefit all retired teachers. Retired teachers working together can make a difference.
A second piece of our “unfinished business” was also addressed this session when the standard for receiving cost of living adjustments was tied to the expected rate of return on the pension investments of 6.9%.
What is the ARTC?
SFCRTA is an affiliate of the Association of Retired Teachers of Connecticut. Did you realize that educators in some Connecticut school districts are represented by NEA affiliates and others by AFT affiliates? The ARTC was formed to represent the interests of all retired Connecticut teachers and they have actively represented our interests to the Connecticut Legislature. If you have not already, please consider supporting them as they support us by joining the ARTC. Information can be found on their website (note the additional t) at www.artct.org
Past Legislative Decisions That Have Impacted the TRB
Are you interested in knowing about previous decisions that have impacted retired teachers? Click here to read about any changes made during the years 2003-2019.
Supporting Future Educators
Each year, our organization awards grant money to outstanding high school seniors from schools in our towns who intend to pursue a career in education. We owe a debt of gratitude to Gerry Petrizzi, the SFCRTA Leadership Team member who coordinates the process, including publicizing the award to Guidance Counselors in 13 high schools and overseeing the selection of award winners.
Here are This Year’s Recipients of the SFCRTA Book Awards:
Caroline Blum – Westhill H.S. 4.58 GPA. Skidmore College, Art Education
Robert Glander – Stamford H.S. 3.5 GPA. Coastal Carolina Univ., Elementary Education
Daria Maya – Staples H.S. 3.82 GPA. Univ. Of Texas at Austin, Special Education
Marissa Walsh – Norwalk H.S. 4.08 GPA. Marist College, Elem. and Special Education
We are pleased to announce the 2021 Glenn Moon Scholarship recipients. The Glenn Moon Scholarship is awarded by the Association of Retired Teachers of Connecticut and the $8000 scholarship provides $2000 per year for four years to an outstanding student who intends to have a career in education. This year’s recipients were selected from 84 applicants.
Alexandra Podgorsha will receive the $8,000 scholarship. She will graduate from Rocky Hill H.S. with a 3.945 GPA. Alexandra has been accepted to UCONN where she will study to become an English teacher.
Marissa Walsh is the recipient of the $1,500 scholarship. She is graduating from Norwalk H.S. with a 4.084 GPA. Marissa will attend Marist College where she will study Elementary and Special Education.
Part-time Employment Opportunity
Enthusiastic Part-Time Educators Wanted- Seriously, this opportunity sounds like it comprises the most fun parts of teaching at New Pond Farm Education Center in West Redding, CT. Here is a brief description of the work.
As an environmental education center with a small working farm, our staff members and part-time educators have the opportunity to bring exciting hands-on programs to classrooms in local schools, to teach on our 102-acre property in West Redding, and to offer virtual programming to interested classrooms. Our programs coordinate with the current NGSS standards and help to bring classroom lessons to life.
Our Focus:
- Environment & Science (Animal Adaptations; Habitat Hunts; Fresh Water Ecology; Erosion)
- Agriculture (From Fleece to Fiber; Farm and Honeybees)
- Local History (Native American Programs)
A more complete description, including information about training, hours & compensation, and interviews, has been posted on our website under Resources.
You can learn more about the organization by clicking here
Connecticut Income Tax Information
We still do not give tax advice, but we can call your attention to some developments that may impact you. Are you aware that you may be able to take two different types of deductions on your Connecticut State Income tax? The first applies to everyone who lives in Connecticut and receives income from the TRB. Currently we are allowed to deduct 25% of the income we receive from the TRB. There is a line on the Form CT 1040 for doing so. It appears that the amount of this deduction will change to 50% of our income from the TRB as was originally planned. Stay tuned about when this takes effect.
The second type of deduction for retirement income has an income ceiling that means this deduction can only be used by Connecticut residents whose total adjusted gross income- including the total of what is received from the TRB, any additional retirement income such as required minimum distributions from retirement accounts, earned income, investment income, any income- is less than $75,000 for an individual or $100,000 for a married couple filing jointly. Residents whose total adjusted gross income falls below those amounts are eligible to take a second deduction on other retirement income such as required minimum distributions. Taking the second deduction requires separating out retirement income that qualifies and applying the relevant deduction to that amount. This deduction is completed on a different line on the 1040 form. Here is an example from the 2020 Form CT-1040 materials. The specific deductions may change for 2021 income.
Example: Anna’s filing status on her Connecticut resident return is single. She receives $30,000 from the Teachers’ Retirement System and $38,000 in pension payments from XYZ Corporation for the taxable year. Both amounts are includible in Anna’s federal gross income, and her federal AGI is less than $75,000. On the Connecticut return for the taxable year, Anna may subtract $7,500 ($30,000 x 25%) on Line 45, Schedule 1, Form CT‐1040, and $10,640 ($38,000 x 28%) as a pension and annuity income subtraction modification on Line 48b, Schedule 1, Form CT-1040.
Financial Assistance for Retired Teachers who are receiving benefits from the Connecticut State Teachers’ Retirement System.
You have likely heard of the Henry Barnard Fund as SFCRTA has long contributed to this fund through solicited donations at our events and through a direct donation made during 2020, but here is some additional information that may be of use to you or someone you know.
The purpose of The Henry Barnard Memorial Fund (HBMF) is to help needy teachers who have served but are no longer active in the teaching profession. This private fund is exclusively charitable. Its main goal is to help teachers stay independent—with an adequate standard of living—and maintain pride in themselves and in their profession. The Fund preserves the dignity of teachers as human beings by offering financial and other assistance in a private, professional manner.
This description comes from the website for the Henry Barnard Memorial Fund, which also provides information on how you can apply for assistance. Please see www.henrybarnardfund.org for more information on the organization and please spread the word to someone you know who might need such assistance.
Need Help With Medicare Costs?
If your monthly income is less than $2641 single or $3572 couple, you may qualify for help from the State of CT to pay your Medicare premiums and other Medicare costs. To find out if you are eligible for the Medicare Savings Program call CHOICES at 1-800-994-9422 or click here.
This important information was sent to us by Stephanie Allard Aston at the Center for Medicare Advocacy.
TRB Health Insurance Information
By Connecticut Statute, our health insurance programs are reviewed every three years. The TRB is currently accepting proposals for our plans and the selected programs will go into effect on January 1, 2022. Usually there are in-person sessions to answer questions on the selected plans. Typically, the open enrollment period has run between October 15 and November 7. We hope to be able provide you with information in our fall Newsletter.
Recently, members who have participated in the Blue Cross/Blue Shield Anthem Medicare Supplement plan received postcards about a settlement with the insurance company. Further information can be found by clicking here. The filing deadline to participate is November 5, 2021. If we are able to learn more about this process, we will include it in our fall Newsletter.
Save the Date – Wednesday, September 30
We are making plans for a SFCRTA membership breakfast meeting at beautiful Rolling Hills Country Club in Wilton. A flyer with details will be sent to our current local members in August.