NCERP Committee Approves New
Budget (FY 2008/2009):
NON-CERTIFICATED EMPLOYEES RETIREMENT PLAN
July 1, 2008 Volume 35
Columbia Management’s
Investment Presentation as
of March 31, 2008:
The Plan’s Senior Portfolio Strategist,
Mr. Wilkinson of Columbia
Management, began his quarterly
presentation on May 14, 2008 by stating that the subprime crisis has
impacted every financial sector in a
negative way. He anticipates that
this will pass, however, the Federal government is
aggressively lowering rates. Mr. Wilkinson informed
the NCERP Committees that the housing market continues to be weak, although the economy has grown at a
rate of 6.10 percent over the last two quarters, he predicts a deep recession is not anticipated, he feels the
economy is headed for a moderate recession.
At the beginning of the reporting period (January 1,
2008), the market value of the Plan was $64,332,136, and
the ending value as of March 31, 2008 was $58,663,229,
a decrease of 6.8 percent. However, the Plan value has
increased 10.85 percent over the past five years. The
Plan portfolio recouped 3.25 percent in April alone. Fixed
incomes have started the healing process, and the equities market will perform well. Growth should be in the
mid-single digits for the remainder of the year.
Mr. Wilkinson began to discuss fixed incomes and stated
that during the reporting period, BACAP Core Fixed
Income Fund grew by .42 percent, and the Lehman
Aggregate Bond Index increased by 2.17 percent. He
informed the committee that treasuries are the best performing asset class, and that yield wins over a substantial amount of time.
He also speculated that due to the China earthquake,
there would be greater demand for building supplies
which could increase global inflation. From an economic
perspective, this could actually be beneficial for
investors.
At the NCERP quarterly committee meeting on May 14, 2008,
the retirement committee approved the Plan’s next fiscal year
budget. The previous year’s budget was approved for
$371,531, and with a 4 percent increase (CPU-I for 2008)
added for inflation, the new approved budget for $385,893 has
been approved by the NCERP committee.
Expiration of Term of Service for
the Non-Unit Representative on
the NCERP Committee::
Mr. Tim O’Neill’s, the Non-Unit NCERP Representative, term
expires June 30, 2008. Director of Human Resources, Mr. Ron
Nicoletti, put together a non-unit election committee that handled the nomination and election of a new non-unit committee
representative. The election committee consisted of the following non-unit Plan participants; Sue Moore, Cosand Center, Vice
Chancellor, Education Office, Chairperson; Janet M. Woodworth,
Forest Park, VP Academic Affairs Office; Kathryn M. Maganza,
Meramec, VP Academic Affairs Office; Renee Peeples, Forest
Park, Dean Enrollment Services. They collected all nomination
ballots and determined the following candidates were the two
nominees. Candidates for the non-unit representative position
were Vicki Lucido, VP Academic Affairs Office, Florissant Valley
and Tim O’Neill, Auxillary Services, Meramec.
Vicki Lucido won the election and is the new NCERP, Non-Unit
Representative and her term of expiration is June 30, 2011.
The Quarterly Updates
The Plan’s coordinator, Mr. Hayden, has reported that during the
period of January 1, 2008 – March 31, 2008, 13 new participants were added to the Plan. During that same period, 2 Plan
participants chose to retire, both effective February 1, 2008.
Both retirees chose to receive the lump sum payment option.
Additionally, there were three plan participants who passed
away during this quarter;
Mr. Glen Stephenson, Meramec, February 4, 2008
Mr. Herman Keller, Forest Park, March 10, 2008
Mr. Robert C. Edwards, Forest Park, March 27, 2008
[AFFIX LABEL HERE]
Also, during this period, seven employees separated from the
College. Their refunded contributions and credited interest
totaled $103,073.57.
NCERP’S Accounting System
Fiscal year budget report as of March 31, 2008, includes the following:
• The total budget for 2007-2008 fiscal year: $371,531.00
• Total charges paid: $236,335.65
• Quarterly Encumbered charges: $17,598.50
• Balance as of December 31, 2007: $117,596.85
Administrative expenses for the retirement plan are currently
budgeted at $371,531.00. Total expenses for the year totaled
$253,934.15, with $117,598.85 remaining in the budget.
Retirement Interview Schedule
If employees would like an estimate of their retirement benefits, please 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 the Plan Coordinator at any time to obtain a retirement benefit assessment.
NCERP Coordinator’s Proposed
Schedule of Campus Visits
Date
August 7, 2008
August 14, 2008
August 17, 2008
August 21, 2008
Location
Forest Park
Florissant Valley
Meramec
Cosand Center
Time
12 p.m.
2 p.m.
2 p.m.
2 p.m.
September 4, 2008
September 11, 2008
September 18, 2008
Forest Park
Florissant Valley
Meramec
12 p.m.
2 p.m.
2 p.m.
October 2, 2008
October 9, 2008
October 16, 2008
October 23, 2008
Forest Park
Florissant Valley
Meramec
Cosand Center
12 p.m.
2 p.m.
2 p.m.
2 p.m.
November 6, 2008
November 13, 2008
November 20, 2008
Forest Park
Florissant Valley
Meramec
12 p.m.
2 p.m.
2 p.m.
December 4, 2008
December 11, 2008
December 18, 2008
Forest Park
Florissant Valley
Meramec
12 p.m.
2 p.m.
2 p.m.
January 8, 2009
January 15, 2009
January 22, 2009
January 29, 2009
Forest Park
Florissant Valley
Meramec
Cosand Center
12 p.m.
2 p.m.
2 p.m.
2 p.m.
February 5, 2009
February 12, 2009
February 19, 2009
Forest Park
Florissant Valley
Meramec
12 p.m.
2 p.m.
2 p.m.
March 5, 2009
March 12, 2009
March 19, 2009
March 26, 2009
Forest Park
Florissant Valley
Meramec
Cosand Center
12 p.m.
2 p.m.
2 p.m.
2 p.m.
Locations are: Meramec, BA-105; Florissant Valley, Training
Center, TC-109; Forest Park, Executive Dean’s Conference
Room; Cosand Center, Room 208.
NCERP Committee
Meeting Schedule
S
M
T
W
T
F
S
Plan participants are encouraged to attend the next NCERP
quarterly committee meeting, which will be held at the
Meramec campus, Room SC-123, August 13, 2008, 9:15 a.m.
The quarterly NCERP committee meetings are now being rotated from various campus locations. Please take notice that a
quarterly committee meeting will be coming soon to a location
near you. The tentative time and dates are listed below:
August 13, 2008, MC
9:15 a.m.
November 12, 2008, FP
9:15 a.m.
February 11, 2009, CC
9:15 a.m.
May 13, 2009, FV
9:15 a.m.
Beneficiary Accuracy
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.
Unofficial.…
NCERP IS A DEFINED BENEFIT PLAN
Recent stock market volatility has many of thinking about the
safety of our retirement savings. Good news is you needn’t
worry about your future NCERP retirement benefit. Your
retirement benefit is safe, in large part because NCERP is
what is known as a Defined Benefit Plan. In a Defined
Benefit Plan or DB Plan, your benefit at retirement is not at
risk, even when investment returns are down.
NCERP Membership has its Benefits:
• Predictable, guaranteed benefits for life
•
Disability, survivor and death benefits
•
Early retirement, Lump and Partial Lump Sum Options for
all Participants
•
Professionally invested – you don’t have to try to do it
yourself.
Points of Contact:
A Formula for a Lifetime:
Your benefit amount is determined by a preset formula. The
formula takes into account your years of service credit at
retirement, and your final average monthly salary.
You and your employer, St. Louis Community College, make
contributions to the Retirement Plan, paid directly to the
Plan’s Trust Agency, State Street Corporation, Specialized
Trust Service. These funds are invested by professionals,
Columbia Management, and used to pay retirement and survivor benefits to NCERP retirees.
Your account balance (the contributions you have paid and
the interest on those) has no impact on your benefit amount.
The monthly benefit amount is guaranteed for our lifetime so
you cannot outlive your retirement benefits.
How a Defined Contribution Plan Differs:
Consider this in contrast to the Defined Contribution or DC
Plans offered by many employers (Examples include: 457,
401(k), 403(b) accounts). In this type of plan, retirement benefits are determined by the amount in your personal retirement account at the time of retirement. Typically, both you
and your employer contribute to the personal account while
you are working, but you have responsibility for determining
how the funds will be invested. Lack of investment expertise, along with volatile markets, can lead to situations in
which you may outlive your retirement funds or have to delay
your retirement for a few more years while rebuilding your
assets.
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, 2008
Unit Representative
KEVIN WHITE
CC – TESS Systems Operations Office
Phone: 314-539-5058
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
St. Louis
Term expires: Community
June 30, 2009
EXPANDING
College
Any suggestions
for improvements, questions, comments or other
concerns about the retirement plan
may be directedSt.
to any
of the NCERP
Louis
committee representatives.
Community
Any proposed agenda items may
College
be sent to James
Hayden or the
Expanding Minds Changing Lives
employee
representative 10 days
prior to the meeting date.
Individuals with speech or hearing impairments
may call via Relay Missouri by dialing 711.
•
St. Louis
Community
College
FLORISSANT VALLEY FOREST PARK MERAMEC WILDWOOD
EXPANDING MINDS
•
CHANGIN
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 or status as a disabled or Vietnam-era veteran and shall take action necessary to ensure non-discrimination.
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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