April 8, 2013
Volume 54
NON-CERTIFICATED EMPLOYEES RETIREMENT PLAN
TABLE OF CONTENTS
INVESTMENT REPORT: COLUMBIA MANAGEMENT’S
INVESTMENT PRESENTATION AS OF DEC. 31, 2012
Investment Report:
Columbia Management’s
Investment Presentation as
of Dec. 31, 2012....................1
Jim Wilkinson, Senior Institutional
Relationship Manager, began his
presentation at the NCERP quarterly
committee meeting on Feb. 13 by
sharing that as a representative of
Columbia Management, he will
continue to improve their service to
the Plan. He went on to share with the
committee that he is reviewing the
Plan’s investment guidelines. Wilkinson
wants a discussion concerning his
observations and will provide some
recommendations in the near future.
Wilkinson also informed the
committee that from the macro level,
the pace of economic growth remains
very sluggish, as the Northeast
recovers from the devastating effects
of Hurricane Sandy, which occurred
Oct. 29, 2012, and the Congress has
delayed action to avert the fiscal cliff of
tax increases and spending cuts.
Sequestration may become a reality
and is probably not preventable. The
Report From Actuary:
Towers Watson’s
Quarterly Report as
of Dec. 31, 2012....................1
NCERP’s Accounting
System: NCERP’s
Operational Budget-Ending
Dec. 31, 2012........................3
Actuary Informs Committee
of Upcoming Fiduciary
Training..................................2
NCERP Meeting
Schedule ................................3
Beneficiary Accuracy .............2
The Quarterly Updates...........2
Retirement Interview
Schedule ................................2
Unofficial...............................3
Your NCERP Representatives ..3
presidential elections are now over
but the result has left a split between
the Senate and the House and the
prospect for cooperation across the
aisle is questionable. Also, the GDP
growth came in at a positive 3.1
percent and a positive 2.6 percent for
the year (2012).
He further expressed that the Fed is
anticipated to keep interest rates
accommodative until 2015, and in
September 2012 there were some
discussions concerning third quarter
easing. Wilkinson stated there were
180,000 jobs added to the roles to
decrease the unemployment rate to
below 8 percent, which is lowest it has
been in a quite some time.
The Plan’s beginning market value
was $64,326,940 and the ending
market value was $64,150, 743, a
decrease of 0.001 percent. The sluggish
economy continues to tread water, but
just barely.
REPORT FROM ACTUARY: TOWERS WATSON’S
QUARTERLY REPORT, AS OF DEC. 31, 2012
Don Schisler, Plan’s actuary, stated at the
quarterly committee meeting there was
nothing he had to report on, but he did want
to discuss the Scope of Work (SOW) that has
been provided to each committee member.
He explained the SOW would completely
analyze the plan demographic experience for a
five-year period ending June 30, 2012. The
study is necessary and will provide the basis
for the actuarial assumptions used for the
upcoming 2013 valuation of NCERP. The
auditors are likely to ask about the
assumptions, particularly as the requirements
of the new GASB 67 and 68 statements are
implemented. Schisler wanted to emphasize
that the Plan should have this analysis
performed every three to five years because
this will ensure professional standards are
adhered to and the auditors will be looking for
the completion of such a study to justify the
Plan’s assumptions.
He further detailed that the study will
include the incidence of employment
terminations, retirement and lump-sum
elections, the rate of salary increases and the
level of administrative expenses paid from the
Plan. The committee unanimously agreed and
the results will be presented to the NCERP
committee during the current quarter.
This newsletter is designed to summarize and explain basic changes in the Non-Certificated Employees Retirement Plan and
provides updates on other related matters. Since it is only a summary, this newsletter does not cover the plan's provisions in
detail.Therefore, if there is any conflict between this newsletter and the plan document itself, the plan document will always
govern. An official copy of the plan is available for inspection in the Human Resources department at the Joseph P. Cosand
Community College Center, 300 South Broadway, St. Louis, Mo. and in each campus’ library during regular business hours.
ACTUARY INFORMS COMMITTEE OF
UPCOMING FIDUCIARY TRAINING:
At the quarterly committee meeting Schisler
also asked if the committee would be interested
in a training session on fiduciary responsibility.
Fiduciary training was last conducted some time
in 2005, and the committee is now comprised of
several new members. Schisler is planning to
arrange this training with a Towers Watson
consultant who specializes in fiduciary
obligations. If possible, the session would be
scheduled at a time when the trainer could come
to St. Louis and also conduct sessions for other
clients of Towers Watson. This would allow for
the sharing of the travel expenses among several
clients if the committee has an interest in the
training. The training will be provided at a site to
be determined some time during the next
quarter.
NCERP’S ACCOUNTING SYSTEM:
NCERP’S OPERATIONAL BUDGET –
ENDING DECEMBER 31, 2012
The original budget for the 2012-2013 fiscal year
was $395,722.00. As of, Dec. 31, 2012, with the
deduction of all approved expenditures in this
meeting, the remaining balance is $218,481.61. There is
no reason the Plan shouldn’t complete the fiscal year
under the established budget.
NCERP MEETING SCHEDULE
The quarterly NCERP Committee meetings now are
being rotated from various campus locations. The
tentative schedule is as follows:
May 15, 2013, Forest Park, 9:15 a.m.
Aug. 14, 2013 Meramec, 9:15 a.m.
Nov. 14, 2013, Florissant Valley, 9:15 a.m.
Feb. 13, 2014, Harrison Education Center, 9:15 a.m.
BENEFICIARY ACCURACY
Make sure beneficiary information on file for
NCERP retirement contributions is accurate. Failure
to do so could result in retirement contributions
being paid to the employee’s estate versus having the
contributions going to loved ones. I f there are
questions or concerns, contact James Hayden, plan
coordinator, at ext. 5217.
THE QUARTERLY UPDATES
James Hayden reported that six new participants were added to the
Plan and one separated from the College.The terminated participant has
requested the return of her contributions and interest totaling
$12,836.73.
During the same period, five Plan participants chose to retire. Four
chose the Annuity Payments for Life Option and one chose the Lump
Sum Payment totaling $158,044.00.
Also, there was one retiree who expired during this period who was
receiving a monthly benefit pension and payments have been suspended.
RETIREMENT INTERVIEW SCHEDULE
If employees would like an estimate of their retirement benefits,
attend any of the campus visits made by James Hayden, plan
coordinator, ext. 5217. Please call at least one week before the
scheduled visit to ensure the retirement assessment is complete.
Every participant is encouraged to contact Hayden at any time to
obtain a retirement benefit assessment.
NCERP Coordinator’s Proposed Schedule of Campus Visits
Date:
Location:
Time:
April 11, 2013
Florissant Valley
2 p.m.
April 18, 2013
Meramec
2 p.m.
May 2, 2013
Forest Park
Noon
May 9, 2013
Florissant Valley
2 p.m.
May 16, 2013
Meramec
2 p.m.
May 23, 2013
Cosand Center
2 p.m.
June 6, 2013
Forest Park
Noon
June 13, 213
Florissant Valley
2 p.m.
June 20, 2013
Meramec
2 p.m.
July 11, 2013
Forest Park
Noon
July 18, 2013
Florissant Valley
2 p.m.
July 25, 2013
Meramec
2 p.m.
August 1, 2013
Forest Park
Noon
August 8, 2013
Florissant Valley
2 p.m.
August 15, 2013
Meramec
2 p.m.
August 22, 2013
Cosand Center
2 p.m.
September 5, 2013
Forest Park
Noon
September 12, 2013
Florissant Valley
2 p.m.
September 19, 2013
Meramec
2 p.m.
October 3, 2013
Forest Park
Noon
October 10, 2013
Florissant Valley
2 p.m.
October 17, 2013
Meramec
2 p.m.
November 7, 2013
Forest Park
Noon
November 14, 2013
Florissant Valley
2 p.m.
November 21, 2013
Meramec
2 p.m.
December 5, 2013
Forest Park
Noon
December 12, 2013
Florissant Valley
2 p.m.
December 19, 2013
Meramec
2 p.m.
Locations are: Florissant Valley, Training Center, TC-109;
Forest Park, VP Academic Affairs’ Conference Room;
Meramec, BA-106; Cosand Center, Room 208.
UNOFFICIAL
Plan Now, Save Later: Health Care Decisions Affect
Financial Fitness in Retirement
Simple ways to maintain your health in retirement include eating right, exercising
daily and seeing your doctor regularly. Developing a plan for making health care
decisions in retirement can also ensure you stay financially fit. Follow this simple
checklist to get it started:
First of all, see what your employer has to offer. If you plan to leave work
before age 65 when you will be eligible for Medicare, keeping affordable health care
coverage is critical. Learn the coverage available from your employer when you
retire. Do this regardless of when you’ll be retiring. Many employers require you to
be part of their group plan for a minimum number of years in order to continue the
coverage through retirement. Find out about your spouse’s plan, too, so you can
determine which plan best fits your need – and pocketbook.
Secondly, weigh your Medicare options. As you approach your Medicare eligibility
age of 65, consider the many choices you have for coverage in the Medicare system.
You will need to choose between Original Medicare and the Medicare Advantage
Program. Under the Original Medicare, you can choose either Part A or Part B.
Part A, available at no charge, covers hospital stays, limited care in skilled care
nursing facility, hospice care and some home health care. Part B, available for a
monthly premium, covers doctor visits, outpatient care, medical supplies and
preventive services.You or your supplemental plan will pay any deductible or
coinsurance.
The Medicare Advantage Program is a Medicare plan offered by a private
company, such as a Health Maintenance Organization or Preferred Provider
Organization, to provide similar benefits to Medicare A and Part B coverage.
You also need to decide whether you will opt into the Medicare Part D
prescription drug coverage plan. Finally, you should consider whether you need a
Medigap plan, which fills in some of the gaps in Medicare coverage.Visit the
government website, medicare.gov, for helpful information about choosing your
coverage and the deadlines for obtaining coverage.
Also, consider long-term care. The need for long-term care may arise at any
age, though likelier for older adults. Many people think
that Medicare will pay for long-term care, but it pays for
skilled nursing care only for a short amount of time and
under very limited circumstances. However, if you suffer a
major health crisis, it could quickly become an unplanned
drain on your finances. If you have not already purchased
long-term care coverage, see your financial adviser about
your options.
Finally, execute an advanced health care
directive. While an advanced health care directive does
not serve truly a financial matter affecting health care,
retirees often overlook this necessary item.You should
execute these documents so someone can act on your
behalf if you become disabled. Having these documents
can reduce stress on your family in a difficult time.
Remember, it’s never too early to plan. Even if
retirement is years away, start the planning process for
these important decisions. They are crucial to your
financial fitness and your health in retirement.
ilfbpartners.com
Individuals with speech or hearing impairments may call via Relay Missouri by dialing 711.
YOUR NCERP
REPRESENTATIVES:
Board of Trustees Appointment
Calla White
6688 Chesapeake Drive
Apt. C
Florissant, MO 63033
Phone: 314-355-9112
Term expires: BOT’s pleasure
Board of Trustees Appointment
Ruth Lewis
10455 Litzsinger Road
St. Louis, MO 63131
Telephone: 314-567-7098
Term Expires: BOT’s pleasure
Non-Unit Representative
Vicki Lucido - Chair
FV - VP Academic Affairs office
Telephone: 314-513-4214
Email: vlucido@stlcc.edu
Term expires: June 30, 2014
Unit Representative
Kevin White
FP - Media Services
Phone: 314-644-9213
Email: kwhite@stlcc.edu
Term expires: June 30, 2013
Physical Plant
Mike Wibbenmeyer - Vice Chair
MC – Utilities/HVAC
Phone: 314-984-7749
Email: mwibbenmeyer@stlcc.edu
Term expires: Oct. 30, 2013
Any suggestions for improvements,
questions, comments or other
concerns about the retirement plan
may be directed to any of the NCERP
Committee representatives. Any
proposed agenda items may be sent to
James Hayden or the employee
representative 10 days prior to the
meeting date.
100170 4/2013
NON-DISCRIMINATION STATEMENT
St. Louis Community College is committed
to non-discrimination and equal
opportunities in its admissions, educational
programs, activities and employment
regardless of race, color, creed, religion, sex,
sexual orientation, national origin, ancestry,
age, disability, genetic information or status as
a disabled or Vietnam-era veteran and shall
take action necessary to ensure nondiscrimination.
For information or concerns relating to
discrimination matters, contact the following:
for matters relating to disabilities, contact
Section 504/Title II Coordinator Donna Dare
at 314-539-5285; for matters relating to sex
discrimination, contact Title IX Coordinator
Pam McIntyre at 636-422-2250.