SustiNet
No question that health care is vital to all of us but the cost of our programs are intolerable. Your SFCRT Association is deeply concerned with this fact. We have created two programs designed to be a positive influence upon our members.
- One - a 40% cost coverage of the group rate by our state, a 40% cost coverage by our local communities, and a 20% cost to our retirees. Our community group rates run as high as S10,860 for one person. We have removed this consideration because of the financial impact this would have on our local communities at this dire economic time.
- Two - We requested the infusion of twenty million dollars from our Health Insurance Premium Account to reduce the insurance costs of our most seriously impacted colleagues. We have distributed over two thousand of this plan throughout the state. This will cost our tax payers no additional monies. These funds are already held by our Treasurer Denise Nappier from the monies collected from the 1.25% lien placed against our teachers gross incomes. We are actively supporting this plan as a temporary help to our retirees.
Let us examine our States' activities to help reduce insurance costs while expanding health insurance coverage.
CT PA 09-148 SustiNet Health
Partnership can be downloaded from your computer. The final report of the Committee was submitted to the Legislature and Governor this January 2011. We encourage you to do so because SustiNet, HB 6600 has already been forwarded to our legislature inquiry this Spring 2011. Implementation funding by the state will begin in 2012 and full implementation will take hold in 2014. We attempt to provide a guest speaker on this topic in the near future.
Our plan of infusing additional funds from our Health Insurance Premium
Account would hopefully carry us to a SustiNet solution by 2014.
MEMBERSHIP
Our numbers keep growing and we thank all of you for your trust in protecting your benefits. A brunch is scheduled at the Continental Manor in Norwalk to meet with the retirement class of 2010. This is a new endeavor to help acquaint out most recent retirees with the challenges that confront us.
THE TEACHER RETIREMENT BOARD
The State requested that the T.R. provide $29 million and $31 million to cover their required funding obligation to the Health Insurance Premium Account for the 2009-2010-2011 years. The monies were provided to lower the funds by over $60,000,000 in H.I.P.A. It appears to us that an agreement was reached by firmer Governor Jodi Rell and the T.R.B. to not require a method of pay back of that loan or an interest rate. Last year our State treasurer Denise Nappier, through her investment strategies obtained a 12.87% return on our funds. Although the state Legislature agreed to pay back the loan with interest, no plan was provided by our TAX. and we therefore lost a $3,714,000 return on our investment.
What is very disturbing to us in that with tens of millions in our H.I.P.A. fund, no plan came forth to reduce the staggering increased rates of the group insurance for our retirees throughout the state.
SCHOLARSHIP
Dr. G. White and her committee are processing our local entries for our book awards for our high school senior.
NEEDED
1. A time for me to rest. After eleven eventful years and an open heart operation it is time to retire. We need a new president.
2. A new Treasurer. The contribution made by Barbara Driscoll has been outstanding. Now a new member must come forward.
Please contact us about your availability.
GENERAL MEETING
AMERICAN LEGION HALL, COUNTY STREET, NORWALK, CT
AT 10:00 a.m.
WEDNESDAY MARCH 23, 2011
John Kane