january - february 2016 - reavc · 2016. 1. 2. · our sailboat have not adjusted to the heat but...
TRANSCRIPT
REAVC PRESIDENT’S LETTER By Nancy Settle on the 2018 ballot. This is good news but DeMaio-Reed are predicting or hoping the political sentiment in the next couple of years may be more in line with their thinking of eradicating defined benefit pensions. I find this hard to believe. On the contrary, more corporations and big business should be offering pensions to their employees. Many corporations can certainly afford to do this. Thanks to our REAVC Board and Executive Assistant for attending to REAVC business while I am away. Read on for other important news and events and please join us at the next REAVC Luncheon. Warm Regards.
CRCEA By Jim Crow
At our December board meeting one of the members wanted to know what CRCEA is. I thought a general explanation would be of interest to the members of our association’s newsletter. CRCEA stands for the CALIFORNIA RETIRED EMPLOYEES ASSOCIATION. This organization represents 150,000 retired county employees from twenty counties in California. All the major population centers, including Ventura County, are represented in the association. This organization takes an active part in monitoring legislation that could change the retirement system or change retiree benefits. Each year the association holds two conferences, one at a Northern County and one in a Southern County. On a rotating schedule each County hosts the conference. The next conference will be in
Bakersfield in April 2016. Ventura is scheduled to be the host County in 2017. At the conference delegates are apprised of State and local retirement issues, and through the association committees, delegates are advised of strategies to oppose proposed legislation that would, and could, impact our retirement system. At the conferences there are always speakers that cover a variety of topics that are interesting and informative and are of general interest. For example, at a recent conference a speaker discussed the history of earthquakes in California. All retirees are welcome and urged to attend these conferences. For more information CRCEA has a website at www.crcea.org
Editor Linda Wyatt Jorgenson
Email [email protected]
Retired Employees Association of Ventura County, Inc. P O Box 7231, Ventura CA 93006 Telephone: 805/644-‐7814
“DEDICATED TO THOSE WHO HAVE ALREADY SERVED” January/February 2016
R E A V C
My letter will be brief. The New Year has found my husband and I onboard our sailboat headed to Panama City. Since leaving El Salvador and finding some refuge in the small town of Boca Chica, Panama, we have managed to gain occasional internet connection with a flash drive, a contract with Claro and proximity to a cell tower. I send you a warm New Year’s Greetings from afar. It’s a warm 93-94 degrees Fahrenheit every day. My swollen ankles have not adjusted to the heat but we have survived so far without a mutiny or keel haul. The news on the Pension Reform front is that both DeMaio-Reed Ballot measures have been withdrawn from the 2016 ballot and instead may appear
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LUNCHEON
By Ray Holzer VERY IMPORTANT: IF YOU PLAN TO ATTEND OUR NEXT LUNCHEON MAY 3, 2016, YOU MUST MAKE YOUR RESERVATION PRIOR TO NOON APRIL 26, 2016. IF YOU WERE AT THE LAST LUNCHEON YOU WILL RECALL I MADE A LITTLE SPEECH REGARDING CALLING AFTER THE DEADLINE AND JUST AS BAD, NOT MAKING A RESERVATION AND SHOWING UP FOR LUNCH. TIMELY RESERVATIONS ARE IMPORTANT. PRIOR TO THE LUNCHEON I MUST ADVISE THE PAVILION, AND THE CATERER HOW MANY WILL BE SERVED. WE ALSO DO NAME TAGS. IT REQUIRES QUITE A BIT OF EFFORT ON YOUR BOARD’S PART TO PUT ON THESE EVENTS, AS I SAID IT IS LIKE DOING FOUR WEDDINGS A YEAR! YOUR COOPERATION IS APPRECIATED. Sorry about my rant, but for the last few luncheons we have been having problems and you needed to know. And, thank you to the great majority of our members who do the right thing. At our last luncheon, our speaker, Marcy Snider, Program Coordinator for the Adult Protective Services, Human Services Agency, County of Ventura gave a lively talk about the many issues facing seniors. If you have any questions or feel someone needs assistance you can call them 24 hours a day at 805-‐644-‐3200. Or to discuss your non-‐emergency issue call 805-‐904-‐9362. Great program! Marcy also indicated she would be happy to give her talk to your group, church, club, etc. Our next luncheon will feature a speaker from Gray Law. It should also prove enlightening. To make a reservation for the next luncheon please call or email:
Ray or Linda Holzer, 644-‐3702, [email protected] Judy Sewell, 654-‐8304, [email protected] Carol "Mike Aalbers, 207-‐1768, [email protected]
Carpool if you can, remember to leave the spaces at check in for handicapped folks, and, do not forget the Food Share Barrels. For you new members the luncheons are held at the Poinsettia Pavilion, 3451 Foothill Road, Ventura. Lunch is at noon, check in begins at 11:00 AM. That’s all for now folks. “Green is the prime colo r of the wor ld , and that f rom which its love l iness arises .”
Pedro Calderon de la Blanca
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David Aguilera HCA Anthony Aguirre Sheriff Debra L. Aldrich Sheriff Marla Armas HCA Carolina Ayala HCA George E. Barrett Fire Protection Juan Benavidas Sheriff Nancy Bevans HCA Pedro Borges Retirement Kathy M. Cameron Fire Steven M. Capuano Sheriff Rebecca S. Carter Animal Regulations Christopher T. Cruse HSA James M. Deen Assessor Deborah A. Downey Retirement Annette Dulin-Edwards CSS Sylvia Y. Estrada HCA James S. Franks CEO Dennis V. Good HSA Kelly S. Jameson Probation Paula N. Kamiya Library Linda J. Kelley District Attorney James S. Kenney Sheriff John C. Krause HCA Olivia C. Lopez County Clerk Recorder Allan S. Mandell Fire Keith S. Mineau Sheriff Denise M. Mouwen Public Works Deborah D. Neihold HSA Lyle G. Olson APCD James P. Otteson HCA Michael L. Panek Sheriff Joseph T. Pannell HSA Cynthia A. Parrish CSS Cristobal O. Ramos HCA Peter Remijio HCA Clarissa A. Sanchez HCA Catherine L. Schureman Fire Protection Scott A. Sedgwick Sheriff Jamie L. Stewart Sheriff Michael B. Humberto F.
Smith Tello
RMA Library
Gail I. Temple Sheriff Yolanda Curtis J.
Tibbet White
Animal Services Probation
Ginger A. White Superior Court Glenys Wilbur HCA
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“The best
intelligence test
is what we do
with our
leisure.”
Dr. L. J. P
eter
SEE’s CANDY CERTIFICATES We sell SEE’s Candy Certificates to members solely as a benefit to our membership. They are redeemable for one pound of candy or a standard See’s candy box at any SEE’s store or outlet. The cost of each certificate is $15. This is below the market cost at most locations. The certificates make excellent gifts for holidays; no hassle with crowds, wrapping or shipping; they are easy to mail, and the certificates do not expire. You can acquire certificates one of three ways:
1. Purchasing at our luncheons – we will have a table set up to sell the certificates – cash or checks only please.
2. Via the postal service @ REAVC, PO Box 7231, Ventura CA 93006 3. Placing your order over the phone @ 805/644-‐7814
Remember if you order by mail or over the phone, include the cost for extra postage if you are requesting that we mail you a large order.
REAVC BOARD OFFICERS President – Nancy Settle 805/658-‐1507 [email protected] 1st VP – Roberta Griego 805/889-‐7674 [email protected] 2nd VP – Cindi Mathieu 805/525-‐2885 [email protected] Secretary – Will Hoag 805/644-‐3491 [email protected] Treasurer – Ray Holzer 805/644-‐3702 [email protected] Past Pres – Art Goulet 805/482-‐9418 [email protected] Butch Britt 805/987-‐3312 [email protected] Paul E. Callaway 805/658-‐1340 [email protected] John Coushay 805/231-‐1808 [email protected] Jim Crow 805/701-‐8262 [email protected] Art Goulet 805/482-‐9418 [email protected] Don Greenberg 805/642-‐2915 [email protected] Luisa Haskell 805/644-‐3737 [email protected] Betty McCollum 805/642-‐5234 [email protected] Tom McEachern 805/630-‐8284 [email protected] Maryellen Benedetto 805/647-‐0292 [email protected] Associate Member Representative
Linda Wyatt Jorgenson 805/642-‐4676 [email protected] Executive Assistant
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RETIREMENT BOARD NEWS By
ART GOULET
The name of the game continues to be volatility, but for November and December the movement was clearly down. As a result, the system’s assets fell to $4.36 billion at the end of November, and $4.28 billion at the end of December, and the current prognostications for the duration of the fiscal year are not terribly positive. As I mentioned in my last report with regard to pensionable compensation, the unions did not get all pay codes they wanted included. Nonetheless, VCERA has still received no notice of litigation on the matter. At its meeting of January 25, the Retirement Board received and approved the actuarial valuation (AV) for the fiscal year ended June 30, 2015. The process requires that VCERA provide a copy of the draft AV to all interested parties/stakeholders at least 30 days prior to consideration of it, to allow time for comments. No comments were received, although SEIU had some questions, which were answered prior to the meeting. The AV indicated that the system’s unfunded accrued actuarial liability (UAAL) increased from $820 million in the previous fiscal year to $876 million. Notwithstanding this, the funded ratio of the plan increased from 82.7% to 83.1%. This is due in part to the deferral of gains and losses over a 5-year period as a result of a practice known as asset smoothing, the purpose of which is to reduce the variation and volatility of employer contributions from year to year. This is a very common practice that retirement systems employ. On February 1, The Retirement Board received and approved the Comprehensive Annual Financial Report (CAFR) for the year ending June 30, 2015, along with the outside audit for the same year. The audit was “clean”.
At the same meeting, a presentation was made on the status of the new pension administration system. The staff is involved in an intensive three-month process known as user acceptance testing (UAT). Thus far, about three weeks into the process, reports from our Project Manager and Retirement Administrator are that it is going well, and VCERA should be able to approve “going live” with the new system sometime in April. Though it is not yet official, it appears that the COLA for Tier 1 and Safety employees will be 2% effective April 1. Those retirees who still have a COLA bank will receive a 3% increase. When the COLA is officially approved, I will report which retirees (by date of retirement) will receive the additional 1%, and identify the remaining COLA banks. Tier 2 retirees represented by SEIU, and who did not withdraw their contributions for the adjustment upon retirement, will have the portion of their retirement benefit for the years they made their contributions increased by 2%. The Retirement Board is in midst of considering whether to change the methodology used in calculating the COLA for Tier 1 and Safety retirees. Currently, VCERA uses the change in the consumer price index from the previous December to December of the year preceding April 1 of the year in which any COLA would become effective. The method being considered is to use the change in the annual average annual COLA between the two years of the measurement period. If a change were adopted, it would be prospective, and would not affect this year’s COLA. Before the Retirement Board makes any decision, VCERA will be seeking input from the various stakeholders.
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In Memoriam We acknowledge the passing of the following. Our deepest sympathy is extended to their families and friends.
Frank L. Gyrion Thomas B. Iversen Anita Requenez-Moses Thomas Ribble Sharon Rosenthal Robert R. Williamson
The tears in my eyes I can wipe away, The ache in my heart will always stay.
WELCOME NEW MEMBERS
Joanna Davalos-Shinavar Christine S. Heckerman
Olivia C. Lopez Curtis White
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JANUARY 4 Brd of Retire Disability Mtg 5 REAVC Board Mtg 25 Brd of Retire Bus Mtg 27 Resv cutoff date for luncheon
FEBRUARY 1 Brd of Retire Disability Mtg 2 Gen Membership Luncheon 5 Articles Due 22 Brd of Retire Bus Mtg REAVC BOARD-‐NO MEETING
MARCH 7 Brd of Retire Disability Mtg 1 REAVC Board Mtg 21 Brd of Retire Bus Mtg
APRIL 1 Articles due 4 Brd of Retire Disability Mtg 18 Brd of Retire Bus Mtg 27 Resv cut off for luncheon REAVC BOARD – NO MEETING
MAY 2 Brd of Retire Disability Mtg 3 General Membership Luncheon 16 Brd of Retire Bus Mtg REAVC BOARD – NO MEETING
JUNE 6 Brd of Retire Disability Mtg 7 REAVC Board Meeting 10 Articles Due 20 Brd of Retire Bus Mtg
JULY 1 Scholarship apps due for Sept Luncheon 11 Brd of Retire Disability Mtg 18 Brd of Retire Bus Mtg REAVC BOARD – NO MEETING
AUGUST 2 REAVC Board Meeting 5 Articles due 31 Resv cut off for luncheon
SEPTEMBER 6 General Membership Luncheon (scholarships awarded) 12 Brd of Retire Disability Mtg 19 Brd of Retire Bus Mtg REAVC BOARD – NO MEETING
OCTOBER 3 Brd of Retirement Disability Mtg 4 REAVC Board Meeting 7 Articles Due 8 Scholarship apps due for December Luncheon 17 Brd of Retire Bus Mtg
NOVEMBER 7 Brd of Retire Disability Mtg 21 Brd of Retire Bus Mtg 30 Resv cut off for luncheon REAVC BOARD – NO MEETING
DECEMBER 5 Brd of Retire Disability Mtg 6 General Membership Luncheon (scholarships awarded) 13 REAVC Board Meeting 16 Articles Due 19 Brd of Retire Bus Mtg
2016 REAVC CALENDAR
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My wild oats have turned into prunes
and All Bran.