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Attention ARSCE Members

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President's Message:

John Masterjohn

 

Okay, I’m going into my “back to the future” mode—writing on the day before Thanksgiving—to be read in the next year. I hope that you all had a great holiday season, so now let’s settle in for what could be a hard winter.

I did get down to Arizona for 2 weeks of sun and golf. It was in the 80s every day and I want to thank Tim Douglas for sharing his house with me and for playing some great golf.

Now that the elections are over, no matter who you voted for (I know you all voted because of the importance of our issues), we need to stay active and involved and to communicate with our elected officials and keep them on task. When I hear about privatizing Social Security—taking health care away from millions of people—I get nervous.

Speaking of health care, I heard that Group Health Cooperative has a private plan they offer that is almost the same as the City’s plan, but much cheaper. So if you are on the City of Seattle’s Group Health plan, hopefully you looked into it. It’s my understanding that if you drop your City plan you can’t come back to it, if for some reason you change your mind; so be sure to always do your homework on that. I know that some of us just stay on our City plan because it’s easier, but if there’s a way to save some money it may be worth looking into a similar product during the next open enrollment period.

The new Seattle City Employees’ Retirement System (SCERS) Plan 2 will start on Jan 1st, 2017, so we will be watching how, or if, it affects us. I met with Ken (Nakatsu) for our monthly get-together and we discussed the October 2016 Board meeting. The Board made some small revisions to the investment policy to reflect changes in fixed income classes; reduced Broad Fixed Income (bonds) from 18% to 16%, and increased Credit from 5% to 7%. They defunded two investment management companies and split the funds between Pimco and Pugh.

Regarding Ken’s position, the application period closed on 10/10/16. They received more than 60 applications. The recruiting company met with the SCERS Board to review the most promising prospects. The final interviews with the Board were held on December 15th and 16th.

Well this is the first newsletter of the year, so let’s all look forward to a great year in 2017!

Your President,

John

Contact Mr. Masterjohn at president@arsce.org

This message also appears in the ARSCE News, November - December, 2016, page 1.

Events

Please check this space for future events.

 

Seattle City Council Approves Changes to Retirement System

The Seattle City Council has approved a plan to change the retirement benefits offered to new hires beginning in 2017.  To read the Seattle Times article reporting this change click here.

To read the report of these changes by ARSCE member and SCERS Board Member Lou Walter on page one of the January - February, 2016 issue of the ARSCE News, click here.

Council staff had earlier prepared a report on possible directions the City might elect to take in revising the current system.  Click here to view the council page and read the report.

 

Benefits Questions?

 

Do you have a question about your benefits from the City of Seattle?  You can email Renee Freiboth of the Personnel Department directly at benefits@arsce.org.  Renee will select some queries for her article in the ARSCE News; others she will answer directly.

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© 2013 The Association of Retired Seattle City Employees

This page updated December 12, 2016.