LATEST NEWS... 05/01/2012
Meeting 266 - 4/25/12.. Nothing to report regarding old news. As for new issues President Marcely commented about a recent e-mail sent to many retirees. See below. On other matter he reminded everyone that on May 16th numerous Retiree groups around the State are going to Albany for "Lobby Day". That is where we will seek out state legislators and inform them of our desires and positions about bills before them or in committee. A free Caz Limo will be transporting those who wish to go from Pensabene's at 0900hrs. It will be returning at approx 1700hrs.
For those in need of reviewing the bill in question, here is a direct link to Senator DeFrancisco's Web site and the bill ... http://open.nysenate.gov/legislation/bill/S6925-2011
Notes from Mike Marcely...
"Please let me clarify the previous email regarding the inaction of the Retirees Association Officers, in particular my inaction... Bill Mulroy was gracious and appreciative of my forwarding his email regarding the earnings cap increase (S6925-2011). The opinions expressed in the email are those of the sender only (as far as I know). At tonight's meeting, I addressed each of the concerns of the writer. I'll recap for those who weren't there: We are NOT a collective bargaining unit. We have no legal standing at City Hall and if push comes to shove, well we have a legal fund. As to the issue of 211 waivers, we brought this to the attention of the State Association four years ago when it first arrived. The only way around the waiver is to change the law. As to the lack of "aggressive" action on the City's health insurance, I plead guilty. The PBA has not settled their contract yet (only the firefighters have done so and agreed to an increase in their premiums) and I have taken no action that may upset the PBAs apple cart. They are on our side and asked the city to leave current retirees alone. As to no action on pensions, this association, as well as the state assoc. was VERY vocal in support of COLA in 2000 and 2001. I wish I could improve the present COLA program, but in light of current fiscal situation, I realistically don't see any change coming. AGAIN, the state assoc., each year, lobbies for improvement, which falls on deaf ears in Albany. I wish that I could fix all our problems with a wave of my magic wand, but I seem to have misplaced it. This happens more and more the older I get."
MAY 2012 NEWSLETTER...
SYRACUSE POLICE & CENTRAL NEW YORK RETIREES ASSOC
by Peter Ruszczak
LEGAL BATTLE FOR PUBLIC ACCESS HEAT UP (FOIL) - The Empire Center for NY Policy announced that is appealing a recent court ruling that would block public release of names of police retirees collecting from NY Pension Fund. The names of public employees and retirees have always been regarded as public information under NY Freedom of Information Act. Director Tim Hoefer of the Albany Empire Center stated "because taxpayers foot the bill for salaries of government workers and retirees, they have a right to know who they are and how much they are paid." State Supreme Court Justice Carol Huff sided with the Police Fund in its refusal to comply with the FOIL request. Names and pension benefits of more than 300,000 retired public employees in New York have been posted at SeeThroughNY.net. The Empire Center initial notice of appeal says Justice Huff "committed errors of fact and law" and that the pension fund had "failed to meet its burden of establishing any basis of fact or law to withhold from the public the names and other requested information about those receiving retirement benefits." The Empire Center is a project of the Manhattan Institute for Policy Research and is one of the nation's leading non-profit think tanks.
PENSION FUND REMAINS STRONG - The New York State Common Retirement Fund was valued at $133.8 billion after Fund investments posted an estimated -7.48% rate of return through September 30, 2011, according to NYS Comptroller Thomas P. DiNapoli. "Like all investors, the Fund has been affected by the sluggish economy and increased volatility in the markets." DiNapoli said "The Fund remains one of the strongest in the U.S. and our diversified portfolio will keep it secure and poised for strong returns in the coming months." The Fund has 36.1% of its assets invested in publicly traded domestic equities and 15.1% in international equities. The remaining Fund assets by allocation are invested in cash, bonds and mortgages 28.6%, private equity 10.8%, real estate 6.5%, absolute return 2.5% and opportunistic strategies 0.4%. DiNapoli initiated quarterly performance reporting by the Fund as part of his on going efforts to increase accountability and transparency. The Fund, which exists to provide benefits to more than one million retirees, beneficiaries and active employees, will close it's current fiscal year on March 31, 2012.
PENSION REFORM LEGISLATION - Governor Cuomo has introduced raising the retirement age from 62 to 65, ending early retirement, requiring employees to contribute 6% or their salary for the duration of their career, providing a 1.67% annual pension multiplier vesting after 12 years instead of 10 years, excluding overtime from final average salary, using a five year final average salary calculation with an 8% anti-spiking cap, excluding wages above the Governor's $179,000 salary from the final average salary calculation, eliminating lump sum payouts for unused vacation leave from the final average salary calculation and prohibiting the use of unused sick leave for additional service credit at retirement.
MEDCO REMAINS PRIMARY PRESCRIPTION DRUG PROVIDER - Governor Cuomo signed controversial legislation that would prohibit insurers to get prescriptions through the mail. According to City Hall Health Director Jim Michaels, since the city is self-insured it is exempt. MEDCO will still be the supplier for retirees.
PENSABENE's - A special retirees lunch menu is available from 1100-1400hrs Monday thru Friday at Pensabene's. Please support him.
INFORMATION...
POMCO/MEDCO:TAX DEDUCTION: If your health insurance premium is automatically taken from your NYS pension, you may deduct the premiums from the taxable portion of your tax return. You must remember to write "PSO" (Public Safety Officer) on the line where you report the taxable amount of your pension. This does NOT apply to Medicare Premiums because they do not come out of your state pension nor does it apply to your state tax form because state pensions are not taxable.
SURVIVOR HEALTH INSURANCE: SPD retiree survivors may continue your health insurance POMCO plan for a monthly payment of $88 (or $248 family plan). Contact Jim Michaels at 315-448-8788.
MEDICARE (Part A & B): SPD retirees are reminded that they MUST sign up for Medicare Part A & B when they become eligible (when they reach 65 or are declared disabled by Social Security). At that point, Medicare becomes your primary insurance and the City's health plan becomes secondary and pays whatever Medicare doesn't.
MEDICARE-DRUG PRESCRIPTION PLAN (Part D): Our advice (both the local and state organizations) is DO NOT SIGN UP for Part D-prescription coverage at this time. If your former employer has prescription coverage, there is NO PENALTY to sign up later. Plus, employers are encouraged by the federal government to keep their prescription coverage. They can receive up to 28% reimbursement for their expenses.
PROJECT LIFESAVER: Unique transmitter from the Onondaga County Sheriff's Office for Alzheimer's patients. Contact the OCSD at 407 S State St - Syracuse - (315)435-3044.
AIR1 FOUNDATION: Tax deductible membership levels from as low as $10, to keep Air1 flying. Contact the group at their website - www.air1foundation.org
GUN PERMIT: Federal Law HR#218 allows retired police officers to carry firearms across state line IF you have your retired ID with you AND proof that you have qualified with that type weapon within the last 12 months. Any state firearms instructor may qualify you and the following are friends that hold qualification classes:
VETERANS: If you served 90 consecutive days (or one day wartime) in the US Army, Navy, Air Force or Marines you may be entitled to receive up to $6000 per month for a husband and wife towards nursing home expense or $1344 for assisted living. Contact the Veterans Administration for details.