AAFES Retired Employees Association Newsletter JULY 2018 Supporting the Interests of AAFES, Its Retirees and the People It Serves
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AAFES Retired Employees Association Newsletter JULY 2018 Supporting the Interests of AAFES, Its Retirees and the People it Serves Thanks to some generous donations (see details on page 12), AREA has been able to increase our 2018-2019 program to 12 scholarships for a total of $40,000. Last year AREA awarded 9 scholarships for $29,000. Congratulations to this year’s award recipients! Abram Qui, the son of Haibo Hannah Lei, the daughter of Qui and Lihua Ju, received I-Chen Chen and Michael Lei, the top AREA scholarship of received one of two $5,000 scholar- $5000 for outstanding ships awarded. She plans to major academic achievement and in computer science at one of the community involvement. He four prestigious universities where will enter Rice University this she has been accepted. Hannah fall seeking an Engineering maintained a 4.0 GPA throughout high school. She received the degree. While attending Marin Presidential Volunteer Service High School, Abram achieved Award for three years, participated the “Student of the Month” in city government through the award, volunteered at a Arlington Youth Council and Hospital and non-profit health care clinic and was a violinist played in the All Region Symphony in the All Region Symphony Orchestra. Abram is a national and All State Orchestra. finalist in the 2018 National Merit Scholarship Program and achieved a perfect ACT score. AREA scholarships award story continues on page 8. The Votes for AREA Officers are In! The slate of officers for the new 4-year term of 2018 through 2022 include: President—Chuck Poffenbarger Vice-President—Tom Gallagher Secretary—Don Smith Treasurer—Terry Corley Pag e 2 July 2018 AREA NEWSLETTER Chuck Poffenbarger, President Bit O’ This Bit O” That Welcome to the July 2018 summer edition of AREA’s Newsletter. Our Web Site: www.aafes.com/about-exchange/retired-employees-association/ The Officers of the Association – Chuck Poffenbarger (P), Tom Gallagher (VP), Terry Corley (T) and Don Smith (S) were re-elected in the April election. The 4-year term began June 1, 2018 and ends May 31, 2022. Thanks for your support! SCHOLARSHIP DONOR RECOGNITION PROGRAM: Ten British animal idioms and expressions (and what they AREA has a program to recognize the generous donations mean)* from retirees and other sponsors when awarding scholarships. 1. Make a pig’s ear of something (means: If you make a pig’s ear of For large donations of $1,000 or more, we’ll name one of our something, you make a mess of it.) ten $3,000 scholarships after the donor, or someone else if 2. Have kittens (means: If you’re having kittens, you’re panicking.) designated, and provide the sponsor with the student’s name 3. All dressed up like a dog’s dinner (means: You’re wearing and address should they want to send a congratulatory note. ridiculously smart or ostentatious clothes.) Likewise, sponsor donations of $2,000 or more are available 4. A cold fish (means: You’re unemotional, and perhaps even un- for each of our two $5,000 scholarships. Send an email to friendly. To sound even more British, add a bit of) Chuck Poffenbarger, [email protected] for further details. 5. Like a bear with a sore head (means: You’re in a very bad mood. To make a donation of any amount, complete the donation Interestingly, this phrase is more often used to describe men than form in this Newsletter or go to our web site link women.) YouCaring Donations to use a credit card. 6. Not give a monkey’s (means: be completely indifferent or unconcerned.) (Note: Scholarships were awarded in late March so donors 7. Like a rat up a drainpipe (means: If you move like a rat up a desiring to participate in our Donor Recognition Program drainpipe, you move extremely fast.) during the 12-month period beginning April 1 will be 8. Be up with the lark (means: If you’re up with the lark, you’re recognized in our 2019 program.) awake and up and about very early.) 9. The lion’s share (means: if you get the lion’s share of something, Mixed-Up Idioms* you get most of it (rather than all of it.) • Don’t judge a book before it’s hatched! 10. Stag night or party and hen night or party (means: If you’re invited to a stag night or a hen night, be prepared for some pretty wild • Every cloud has a silver spoon in its mouth partying.) • It’s not rocket surgery! • You can’t teach a leopard new spots *Oxford Dictionaries: https://en.oxforddictionaries.com/ • That train has left the frying pan • Until the cows come home to roost • Until the pigs freeze over! • We’ll burn that bridge when we come to it • You’ve opened your can of worms – now lie in it! AREA...JUST FOR YOU AREA NEWSLETTER July 2018 Pag e 3 YOUR EXCHANGE BENEFITS… Benefits Q&A—Questions you ask; answers from Exchange Benefits Q: Can you give us an update on the funding status of the Exchange Basic Retirement Plan and the Post-Retirement Medical (PRM) Plan? A: Even though the stock markets have been somewhat volatile recently, 2017 was a year of strong investment returns. B: The assets in the pension trusts increased from $5.8 billion to over $6.2 billion during 2017. These trust assets are used for the exclusive purpose of providing benefits to our current and future retirees. The retirement plans remain well funded and the Exchange continues to take the necessary steps to ensure the plans’ assets provide strong returns while minimizing risk. AAFES Retired The Trustees, with the help of professional investment managers and investment Employees Association advisors, have developed a well-diversified portfolio across a wide range of investment asset classes. In comparison to 557 other pension plans in Wilshire The AREA Newsletter is published Consulting’s fund universe, the Exchange’s Basic Retirement Plan’s ranked in January, April, number 17 over the last 10 years. July and October Funding Status Mailing Address: AREA 2016 2017 P. O Box 380614 Basic Plan 93.4% 98.2% Duncanville, TX 75138-0614 Post-Retirement Medical (PRM) Plan* 67.2% 75.8% President: Chuck Poffenbarger (*The goal for the Post-Retirement Medical Plan is to maintain funding at approximately 70 percent. Most companies do not pre-fund their retiree [email protected] medical costs.) Tel: (972) 296-0388 Note: The PRM plan is also used to pay post-retirement dental and life Membership & Address insurance claims for retirees who qualify for continued benefits—see your Changes: plan document for details. Send your newsletter address, membership changes, and mem- Your pension benefits are a promise the Exchange has made to you and bership dues to the AREA intends to keep! Our Trustees know the importance of your financial Membership Director Pat Weaver. future and are committed to ensuring a secure plan for your retirement. Note new e-mail address for Pat: [email protected] PLAN TRUSTEES Tel: (972) 780-9810 PHILIP R. STEVENS - Chief Administrative Officer/CIO Newsletter input: JAMES A. JORDAN - Executive Vice President & Submit articles to the editor by Chief Financial Officer e-mail to: Marcia Kane at [email protected] LEIGH A. ROOP - Executive Vice President & Chief Human Resources Officer AREA Web address: https://www.aafes.com/about- KAREN Y. STACK - Executive Vice President & Chief exchange/retired-employees- Logistics Officer association/ TERRY CORLEY - AREA Representative (PRM Trust) Pag e 4 July 2018 AREA NEWSLETTER YOUR EXCHANGE BENEFITS… Benefits Q&A—Questions you ask; answers from Exchange Benefits Q: HOW DO I …change the bank account for my pension direct-deposit? Or my tax withholding on my pension? Or my mailing address for my pension check stub (and everything else related to my retiree benefits)? A: IT’S EASY! You can make all these changes on the website called “MYPENPAY”. The name is an abbreviation for My Pension Payment: MY PENsion PAYment Your changes will go through much faster if you make them online on the “MyPenPay” website, as opposed to the older way of sending in a change form. Here’s the full internet address for MyPenPay: https://aafesretirement.mypenpay.com First Time using the MyPenPay Website Go to https://aafesretirement.mypenpay.com. • Select SSN as login preference. Enter SSN (no dashes). • Enter temporary password provided. • Select Login. • Answer three security questions. • Enter a personal password. Forgot Your Password? Log onto the website. • Select “Forgot Password?” • Select SSN as login reference. • Enter SSN (no dashes). • Enter last name as it appears on Check/Advice. (Be sure to enter any extension, such as “Jr” with a space between that and your last name.) • Select “Submit.” If you had previously logged in, the website will ask the security questions. If you don’t remember the answers, select “My Password via US Mail,” and the password will be sent within two business days to your address on record. How many AAFES retirees used MyPenPay in 2017? AREA NEWSLETTER April 2018 Pag e 5 YOUR EXCHANGE BENEFITS… Year 2034—Not That Far Away Editor’s note: For some of us, even thinking about 2034 may seem impossible. But for active and newly retired associates, this date may come around sooner than they think. We share the following information not to alarm you, or to make you lose sleep at night, but to encourage everyone to tell lawmakers and those running for Congress your opinion on how best to solve this problem. *See AARP’s recommended questions for those running for office in the 2018 midterm election.