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Special Announcement:
Paul Ryan Medicare Budget Proposal
We, CSPERA, ask that all members receiving Medicare contact their
congress members to urge them not to support Rep. Paul Ryan’s
budget cut proposal to change Medicare by giving seniors vouchers to be
used to pay for treatment. We can see that insurance companies will not
cover older Americans. Please study his proposal and respond to your
national representative or senator.
Don't Be Scammed Concerning the $250 Prescription Drug Rebate
If you reach the Part D prescription drug coverage gap - also known as
the donut hole - and are not eligible for Medicare Extra Help, you will
receive a one-time, tax-free check for $ 250. This rebate is one of the
benefits of the recently passed Health Care Reform law. The first checks
are being mailed in mid-June and checks will be mailed monthly after
people have entered the coverage gap.
To help fight fraud and protect beneficiaries from potential scams,
Medicare is reminding seniors there are no forms to fill out to receive
this benefit. Medicare will automatically send a check. The envelope
will have the US Department of Health and Human Services symbol on it
and will say "Medicare Part D." Beneficiaries don't need to provide any
personal information. They don't need to provide any personal
information like Medicare, Social Security, or bank account numbers to
get the rebate check. They are reminded not to give any personal
information to anyone who calls about the $250 rebate check.
People with Medicare should call 1-800-MEDICARE (1-800-633-4227) to
report any suspected fraud or scams or with any questions.
Top
The Public Employees Retirement Associations
files response to lawsuit
Lawyers representing PERA on Monday filed a motion to dismiss six claims
that are based on state constitutional provisions about modification of
state obligations, takings law, due process and federal civil rights
law.
The filing argues the only claims that should remain are two alleging
that SB 10-001 violates the contracts clauses of the state and federal
constitutions.
At issue is the law’s provision that reduces retirees’ annual benefit
increases from 3.5 percent to 2 percent starting in 2011. There’s no
increase for this year, and future increases could drop below 2 percent
under certain conditions.
The PERA filing says, “In fact, plaintiffs have no vested right to a
particular COLA formula and to claim that a cost of living adjustment
can never be adjusted defies law and logic.”
The document provides a detailed history of past legislative changes in
annual increases for retirees and notes, “The COLA level from 2000 to
2009 was consistently higher than inflation. … In particular, in 2008
and 2009, despite deflation of 1.2 percent due to the recession,
retirees’ pensions rose by over 7 percent because of COLA.”
It continued that since the annual increase was set at 3.5 percent in
2000, it “contributed to PERA’s liabilities increasing by 115 percent
since 1999 while its assets only increased by 45 percent.”
Its investments hollowed out by the recession, PERA’s net assets
available for benefits dropped from $43.1 billion at the end of 2007 to
$30.8 billion at the end of 2008, a loss of more than 25 percent. The
system pays about $3.1 billion in benefits a year and receives about
$1.7 billion in contributions from covered employees and their
employers. PERA overall was about 70 percent funded at the end of 2008.
The new law is intended to restore it to solvency in 30 years.
PERA’s condition made passage of a solvency plan the first order of
business for the 2010 legislature. Ritter and the bipartisan group of
legislative leaders behind the bill wanted it passed and signed before
March 1 to head off the scheduled annual 3.5 percent increase for
retirees. SB 10-001 passed the Senate 25-10 and the House 36-29.
The issue is of vital interest to Colorado educators, because PERA
membership is dominated by employees and retirees of schools and
colleges.
Justus and Hancock are represented by Stember Feinstein Doyle & Payne, a
Pennsylvania firm that has brought employee-benefit suits in other
states, and Greenwood Village lawyer Richard Rosenblatt.
Among those representing PERA are two well-known Denver governmental
affairs lawyers, Mark Grueskin and Edward Ramey of the Isaacson
Rosenbaum firm.
Top
CSPERA Makes Changes in Membership Eligibility
The new requirements for membership states:
Eligibility for membership in the association shall include all retired
and active school, state and public employees and their spouses who
fulfill their financial obligations, all PERA annuitants, as well as
other individuals interested in education and public welfare.
As voted by members of the Board of Directors, the financial obligation
of all active school, state and public employees shall be one-half of
the dues payed by retirees. The dues amount for retirees is $24.00 and
for active employees the amount is $12.00.
CSPERA encourages membership and urges all to become part of the
association. We must be informed about the challenges we face and
numbers mean a lot when facing those challenges.
Please contact the CSPERA office for further information. We can be
reached at cspera@aps.k12.co.us or at 800.748.2846.
Volunteer Opportunities
Keeping Active -
www.activeminds.com
Care and Concerns
We
have been notified of the passing of the following long time CSPERA
members:
-
Faye Bennett
-
Richard Covault
-
Billye Spaar
-
Rose Mary Civis
-
Lena Archuleta
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News Quick Links
Don't Be Scammed
Concerning the $250
Prescription Drug Rebate
The Public Employees
Retirement Association Files
Response to Lawsuit
CSPERA Makes Changes in
Membership Eligibility
Volunteer Opportunities
Care & Concerns |
