NON-CERTIFICATED EMPLOYEES RETIREMENT PLAN
March 5, 2010 Volume 42
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COLUMBIA MANAGEMENT’S INVESTMENT PRESENTATION AS
OF DEC. 31, 2009:
James Wilkinson, director, Columbia Management, opened the
NCERP quarterly committee meeting by stating that 2009 started out dismal but ended on a better note. Since the recession began in
December 2007, a total of 8.4 million jobs have been lost and the unemployment rate rose from 4.9 percent to 10 percent. He said the recession conditions are reversing and a modest recovery has begun, yet consumer spending is weak and job losses continue. Employers are reluctant to hire/re-hire; therefore, the unemployment rate may remain elevated and take years to adjust. In January 2010, an additional 20,000 jobs were lost.
In an effort to deleverage, Wilkinson said the government is shifting some of the private debt to the public. He noted that the actions of the
Federal Government and the U.S. Treasury Department have removed the risks of depression and of a deflationary cycle. Wilkinson added that we are not the only market that is volatile. There is much global uncertainty as Europe, Greece, Ireland, Portugal and Spain also are searching for ways to secure their country’s debt.
On a positive note, Wilkinson said the economy did increase 5.7
percent in the fourth quarter of 2009. Inflation pressures still are absent and interest rate should remain low until the second half of this year.
The gold and oil markets continue to do well. Oil currently is selling at
$74 a barrel. He was encouraged that, although 2009 started out with a lot of uncertainty, since the bottom on March 6, 2009, the market has rebounded over 50 percent and a rally in the fourth quarter sent the
S&P up 6 percent. Wilkinson believes that the federal financial stimulus packages will support growth for some time and feed back into the economic activity for coming quarters. This, together with low inflation, should help consumers repair their balance sheets and rebuild savings.
Wilkinson said the college plan has fared well due to its diversification. The market value of the plan was up 3.47 percent and increased from just under $54K to $56K during the quarter ending
Dec. 31, 2009.
Wilkinson added that Columbia Management and Ameriprise
Financial are merging and is scheduled to be completed by the end of the first quarter. He also said he will continue with the organization and continue to represent the college. Wilkinson said he is excited about the merger and feels that a broader base will be offered with the new company. Kevin White, the NCERP Committee chair, said the information was valuable and believes the merger is a good thing. He looks forward to continuing to work with Wilkinson in the future.
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The quarterly NCERP committee meetings are now being rotated from various campus locations. The tentative time and dates are listed below:
May 12, 2010
Aug. 11, 2010
Nov. 10, 2010
Feb. 9, 2011
Florissant Valley
Meramec
Forest Park
Cosand Center
9:15 a.m.
9:15 a.m.
9:15 a.m.
9:15 a.m.
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If employees would like an estimate of their retirement benefits, please attend any of the campus visits by James Hayden, plan coordinator.
Please call ext. 5217 at least one week before the scheduled visit to ensure the retirement assessment is complete. Every participant is encouraged to contact the plan coordinator at any time to obtain a retirement benefit assessment.
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Please 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. If there are questions or concerns, contact James Hayden, plan coordinator, ext. 5217.
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James Hayden, NCERP plan coordinator, has provided an update to the NCERP Committee that no cost of living increases were provided
Jan. 1, 2010, due to the negative impact of the Consumer Price Index
(-1.4 percent). A letter of explanation has been provided to each plan participant.
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During the period of Oct. 1 through Dec. 31, 2009, five new participants were added to the plan and four employees separated from the college. The returned contributions and credited interest for those individuals terminated from the plan totaled $32,204.03.
During the same period, one plan participant chose to retire, and chose the Life-Time Annuity option. One retiree passed away during this period. Hildegard Schutze, a former Meramec employee, passed away
Dec. 16, 2009.
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Fiscal year budget report as of Dec. 31, 2009, includes the following:
• Total budget for FY 2010: $387,950
• Total invoices paid: $163,962.99
• Balance as of Dec. 31, 2009, after all bills paid: $223,987.01
[AFFIX LABEL HERE]

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Date:
March 11, 2010
March 18, 2010
March 25, 2010
April 1, 2010
April 8, 2010
April 15, 2010
May 6, 2010
May 13, 2010
May 20, 2010
May 27, 2010
June 3, 2010
June 10, 2010
June 17, 2010
July 1, 2010
July 8, 2010
July 15, 2010
July 22, 2010
Aug. 5, 2010
Aug. 12, 2010
Aug. 19, 2010
Sept. 2, 2010
Sept. 9, 2010
Sept. 16, 2010
Sept. 23, 2010
Location:
Florissant Valley
Meramec
Cosand Center
Forest Park
Florissant Valley
Meramec
Forest Park
Florissant Valley
Meramec
Cosand Center
Forest Park
Florissant Valley
Meramec
Forest Park
Florissant Valley
Meramec
Cosand Center
Forest Park
Florissant Valley
Meramec
Forest Park
Florissant Valley
Mearmec
Cosand Center
Time:
2 p.m.
2 p.m.
2 p.m.
Noon
2 p.m.
2 p.m.
Noon
2 p.m.
2 p.m.
2 p.m.
Noon
2 p.m.
2 p.m.
Noon
2 p.m.
2 p.m.
2 p.m.
Noon
2 p.m.
2 p.m.
Noon
2 p.m.
2 p.m.
2 p.m.
Oct. 7, 2010
Oct. 14, 2010
Oct. 21, 2010
Forest Park
Florissant Valley
Meramec
12 p.m.
2 p.m.
2 p.m.
Nov. 4, 2010
Nov. 11, 2010
Nov. 18, 2010
Forest Park
Florissant Valley
Meramec
12 p.m.
2 p.m.
2 p.m.
Locations are: Meramec , BA-105; Florissant Valley , Training Center,
TC-109; Forest Park , VP Academic Affairs’ Conference Room; Cosand
Center , Room 208.
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How to be Happy in Retirement
The March 2010 issue of Consumer Reports Money Adviser has an interesting article on how to avoid regret during retirement. The article, which draws on a survey of nearly 25,000 subscribers, is simultaneously comforting and cautionary. While only about 20 percent of those who haven’t yet retired are highly satisfied with their current retirement planning, 70 percent of actual retirees report they’re highly satisfied.
According to the author, the lesson is:
While many of us tend to fret about whether we’re properly prepared for retirement, once we’re actually there we tend to adjust our situation and even thrive.
In fact, the author argues that the survey reveals money isn’t everything. Sure, it plays a large role in contentment during retirement, but other factors matter, too. To be satisfied in retirement, you need to:
• Save early. Forty percent of retired respondents wish they’d started saving earlier. You should save as much as you can as soon as you can. Even starting with $10 a month is better than nothing.
• Save often. As important as it is to save early, it’s also important to save often. In other words, save as much as you can afford to. You don’t want to live like a pauper now so that you can live like a king in retirement, but don’t sacrifice your future for unnecessary spending today. Do what you can to boost your savings rate.
• Stay healthy. Your health is your most important asset.
Without it, you have nothing. And health is so easy to take for granted when you’re younger. Adopt healthy habits and they’ll repay you in the long term.
• Build friendships. Social capital – those connections you build when you spend time with neighbors, friends and family – is almost more important than financial capital. Your relationships play a larger role in your happiness than your wealth. Be positive, outgoing and an active member of your community.
• Have hobbies. Actively pursue hobbies and interests that keep you engaged with life. Share your hobbies with others. And if you don’t have hobbies, get involved with volunteer and community organizations.
• Do things you enjoy. To be happy at 60, do the same things that make you happy at 40.
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Board of Trustees Appointment
Calla White
6688 Chesapeake Drive Apartment C
Florissant, Missouri 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
FV - VP Academic Affairs' Office
Telephone: 314-513-4214 e-mail: vlucido@stlcc.edu
Term expires: June 30, 2011
Individuals with speech or hearing impairments may call via Relay Missouri by dialing 711.
Unit Representative
Kevin White
FP - Media Services
Phone: 314-644-9213
E-mail: kwhite@stlcc.edu
Term expires: June 30, 2010
Physical Plant
Mike Wibbenmeyer
MC – Utilities/HVAC
Phone: 314-984-7749
E-mail: mwibbenmeyer@stlcc.edu
Term expires: Oct. 30, 2010
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.
ACCOMMODATIONS STATEMENT
St. Louis Community College makes every reasonable effort to accommodate individuals with disabilities. If you have accommodation needs, please contact the Access office at the campus where you are registering at least six weeks before the beginning of the class. Event or other public service accommodation requests should be made with the event coordinator or applicable location non-discrimination officer at least two working days prior to the event or public service.
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 non-discrimination.
In furtherance of the college’s commitment, grievance procedures for the prompt and equitable resolution of complaints are set forth in the college’s designated Administrative Procedures.
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.
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