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| L to R: Jim Foster, Don Parks, Washington State Treasurer James McIntire, Elaine Banks, Jim Bumgarner
On October 24, 2011, Washington State Treasurer, James McIntire spoke to the Benton/Franklin School Retirees Association at the Red Lion in Kennewick, WA. In his opening remarks Treasurer McIntire told members this was, for him, a "teachable moment." He went on to explain that the modifications made by the state to state pension plans, "after the closing of PERSI and TERSI in 1977, Washington has ranked fourth in the nation in terms of combined and effective funding of its 13 pension programs."
McIntire commented further that, "Washington's 10 ongoing pension plans - the plans that are open and accepting new employees - are funded at 118 percent of future liabilities . . . the Washington State Investment Board has averaged over 8 percent annual return on pension funds for the past 20 years . . . our long term performance is very good and our investiment portfolios are positioned well for the future." Unfortunately, however, those employed prior to 1977, are looking directly into the mouth of huge underfunded liabilities. Liabilities to the tune of $3.8 billion. McIntire said, it is "a problem that grows worse as the bills come due . . . because these two plans were underfunded numerous times since 1977 they are now currently funded at only 72 percent of future liabilities . . . they cannot be avoided or reduced by initiative or actions of the Legislature." Treasurer McIntire concluded, "If the Legislature is unable to take the dramatic steps necessary to consistently fund these liabilites over the next 20 years through the regular budget process, then it may be necessary to lock a payment schedule into the State Constitution so that it can't be easily changed by the Legislature." ********** "Pension Funding Reform for Washington State," Washington State Treasurer James L. McIntire.KNDU interviewed Elaine Banks, and Treasurer McIntire submitted by Jim Bumgarner |
Tuesday, October 25, 2011
"Washington State Treasurer James L McIntire Speaks at Luncheon"
Wednesday, October 12, 2011
"Why Should I Contact My Legislators?"
Check out these Four Articles in the most recent issue of the "WSSRA Journal" then think about what you would want to say to your legislators. Maureen Walsh, District 16 Representative, told the BFSRA Executive Board that legislators much prefer emails to letters or phone calls, "They all have smart-phones now and the emails go directly into their pockets."
*Click the page number, then scroll to the page.
1. "Have you had enough?" *Page 3.
WSSRA Executive President, Ed Gonion, "This year, legislators in Washington chose to balance the state budget on the backs of pensioners by eliminating the Uniform Plan 1 COLA." Read what Ed has to say regarding what we can do.
2. "Action required; no more 'passive voices.'" *Page 4.
Scott Nelson, The Nexus Group, on behalf of and representing WSSRA, "...
in January’s short (60-day) supplement budget legislative session, the state will face a fiscal shortfall of $1.5 to $2 billion." Will there be more cuts for our pensions?
Scott and Fred Yancey both serve as lobbyists for WSSRA. Fred spoke at our September luncheon.
3. "What’s changing with PEBB health coverage in 2012?" *Page 6.
Victor Andino, PEBB Communications Public Employees Benefits Board, Washington State Health Care Authority. Open enrollment is coming up, have you checked out the increased costs?
4. "Resolution to legislature: Meet your pension obligations" *Page 18:
Dan Peterson, historian (retired), "......pension funds were never intended for the political
use of the governor or any other state official."
"How do I Contact My Legislators?"
*Click the page number, then scroll to the page.
1. "Have you had enough?" *Page 3.
WSSRA Executive President, Ed Gonion, "This year, legislators in Washington chose to balance the state budget on the backs of pensioners by eliminating the Uniform Plan 1 COLA." Read what Ed has to say regarding what we can do.
2. "Action required; no more 'passive voices.'" *Page 4.
Scott Nelson, The Nexus Group, on behalf of and representing WSSRA, "...
in January’s short (60-day) supplement budget legislative session, the state will face a fiscal shortfall of $1.5 to $2 billion." Will there be more cuts for our pensions?
Scott and Fred Yancey both serve as lobbyists for WSSRA. Fred spoke at our September luncheon.
3. "What’s changing with PEBB health coverage in 2012?" *Page 6.
Victor Andino, PEBB Communications Public Employees Benefits Board, Washington State Health Care Authority. Open enrollment is coming up, have you checked out the increased costs?
4. "Resolution to legislature: Meet your pension obligations" *Page 18:
Dan Peterson, historian (retired), "......pension funds were never intended for the political
use of the governor or any other state official."
"How do I Contact My Legislators?"
Simply click the link you want below, however it may link, in your machine, to an emailer you no longer use (it does in mine). Therefore, simply put their name as the username (first separated by a period from last), and add @leg.wa.gov - compose your message and hit send - that person will have your message instantly!
8th District Legislators:
Rep. Larry Haller (larry.haler@leg.wa.gov)
16th District Legislators:
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