www.wcers.org Winter 2018 Directors Report The Grand Park Centre Building 28 West Adams I hope you enjoyed your holiday with family and friends. As we Suite 1900 move into 2018, I want to take time to acknowledge all of the investment Detroit, MI 48226 growth in the portfolio that we have seen this past year. Our staff has experi- enced some changes due to retirements and resignations; however, we continue Phone: 313-224-5890 Fax: 313-224-1917 to answer phone inquiries and diligently provide services to our retirees. E-mail: In 2017, we experienced a great year for investments— the DOW Jones [email protected] Industrial Average returned 25 %. This translates into great returns for those invested in the stock market. WCERS is pleased to report the Defined Benefit We’re on the Web! Plan earned over 12% for fiscal year ending September 30, 2017. Our diversi- WCERS.org fied investment portfolio is comprised of stocks, bonds, real estate and other assets and exceeded our benchmarks for the year. Each year we aim to earn more than the assumed rate of return required by our Actuarial Funding Policy, which is currently 7.25%. When the fund performs better than the assumed rate of return, the fund’s assets will grow, which may increase the funding lev- el of the defined benefit plan. Assets in the defined benefit plan as of October @WCERS 1, 2016, were $ 883,861,879.00, and as of September 30, 2017, the assets grew to $923,073,290.00. Accomplishing this goal is no easy feat as we also have to pay retiree payroll, which is in excess of $130 million annually. We will Inside this issue: know the funded ratio of the plan once the Actuary completes the calculations required for the plan this spring. This information will be relayed in a future Check Dates 2 newsletter. ATM Safety 3 Retiree Statistics At last year’s holiday party I was asked about some retiree statistics. Direct Deposit Form 4 Here are a few statistics I provided the retirees that were in attendance: The New Retirees 7 oldest person collecting a pension from the Wayne County Employees Retire- ment System is 105 years old. There are 23 retirees over the age of 100. There Deaths 8 are 464 retirees over the age of 90. There are 5,123 retirees collecting a pen- sion. The average yearly pension amount is $26,178.56. The five states in Retiree Spotlight 10 which retirees live, other than Michigan, are Florida (265), Arizona (65), Georgia (51), Tennessee (48), and California (40). Content : Sharron Sanders Editor: Terrilla Gee 1 The Messenger, Winter 2018 www.wcers.org Check Dates 2018 Office Closures The following are the dates of your retire- MLK Day 01/15/2018 ment checks for the 2018 year: Memorial Day 05/28/2018 Independence Day 07/04/2018 February 02/01/18 Labor Day 09/03/2018 March 03/01/2018 Columbus Day 10/08/2018 April 03/30/2018 Election Day 11/06/2018 May 05/01/2018 Thanksgiving 11/22/2018-11/23/2018 June 06/01/2018 Christmas/(Eve) 12/24/2018-12/25/2018 July 06/29/2018 Swing Holidays 12/26/2018-12/28/2018 August 08/01/2018 New Years/(Eve) 12/31/2018-01/01/2019 September 08/31/2018 October 10/01/2018 November 11/01/2018 December 11/30/2018 Health, Dental, Optical, and January 01/02/2019 Life Insurance Health, optical, and life insurance questions should be directed to Wayne County Benefits at: Deferred Compensation Plan Email: [email protected] (AXA, MassMutual, VOYA) Phone: (313) 224-5157 DON’T WAIT TOO LATE!!! If you will be 70 1/2 by the end of 2018 and you Messenger Articles have not begun to draw your required minimum If you have any information you would like to in- distribution, you MUST do so before the end of clude in “The Messenger,” it must be submitted the year as required by the IRS. in writing and received in our office. All writings Unless, you are still working after age 70 1/2. In are limited to 300 characters and are subject to this case, you may still be able to begin drawing review and may be denied or edited for any rea- benefits after this time. son deemed necessary by WCERS editors. More Information WCERS works hard to make sure that all helpful information is readily available to you, whenever you need it. Please feel free to visit our website for access to all of our forms, answers to Fre- quently Asked Questions, latest news of the Retirement System and MORE! Visit: www.wcers.org 2 The Messenger, Winter 2018 www.wcers.org Visit Us at WCERS.org COUNTY OF Be Safe and WAYNE Secure at the Sign Up Today! Wayne County Re- ATM tirement encour- ages the use of di- YOUR CARD YOUR SURROUNDINGS rect deposit to re- Protect your card as if it were cash. When you are at the ATM, be ceive your monthly If lost or stolen, report it immedi- aware of your surroundings. Make pension. It’s Fast, ately. Your bank can put a hold on sure no one is watching you key in it’s Safe, and it’s your card to prevent use by an un- your PIN number. Use your body Reliable. If you authorized person. If found, your to shield the keypad from onlook- wish to sign-up, bank can remove the hold. ers and move quickly. please complete the form on pg. 6 or at: YOUR PIN YOUR ACCOUNT www.wcers.org Do not write down your PIN num- Check your account frequently. and submit it to our ber on your card or give it to any- Doing this allows you to report any office. If you have one. Avoid using numbers that oth- irregularities in your statements ers could easily guess—like your early. If you don't catch it early questions or would birthday, your address, or your enough, you could be held liable for like a form mailed to you, please con- phone number. unauthorized use of your card. tact our office at 313-224-5890. YOUR RECEIPT YOUR CASH Always take your receipt with When you are you when leaving the ATM. You getting cash out may think that there is no use- of the ATM, ful information on the ATM re- don't count it Did you know that ceipt, but discarded receipts right away. The WCERS is on from the ATM can lead to iden- safest practice is Facebook AND tity theft and account hijacking. to put your mon- Twitter? Don’t leave it behind. ey away immedi- ately after you complete your Follow us: YOUR ENVIRONMENT transaction and @WCERS Be aware of the conditions sur- rounding the ATM. Ask your- leave the premis- self: Is there proper lighting? Is es of the ATM. the view blocked by bushes/ Count your mon- trees? Is security present? If the ey after reaching conditions of the environment a safe location to don't look safe, choose another prevent theft or ATM and bring a friend along. robbery. 3 The Messenger, Winter 2018 www.wcers.org 28 West Adams, Suite 1900, Detroit MI 48226 Toll Free (888) 600.6033 Local (313) 224-5890 Fax (313) 224-1917 Direct Deposit Authorization I authorize the Wayne County Employees’ Retirement System/Wayne County Treasurer and/or its paying agent to deposit my net pay, by direct deposit (electronic funds transfer) into the designated financial institution(s) and Account Number(s). I understand this authorization remains in effect until cancelled by: (a) me, (b) my death or legal incapacity, or (c) Wayne County Employees’ Retirement System. I authorize Wayne County Employees’ Retirement System/Wayne County Treasurer and/or its paying agent to recover money electronically deposited in my account(s) in error, by either adjusting or debiting the account(s), or withholding future payments. I consent to and agree to comply with the National Automated Clearing House Association Rules and Regulations, and the State of Michigan's rules about electronic funds transfers, as they exist on this date or as subsequently adopted, amended or repealed. Michigan law governs electronic funds transactions authorized by this agreement in all respects except as otherwise superseded by federal law. PERSONAL INFORMATION (Please print clearly) Name (last, first, middle) Retirement ID # (required) Social Security # (last 4 digits) Email Address ( I understand I will receive all correspondence electronically in the future by including my email address above) DISTRIBUTION 1 Select Option Account Information Distribution Type Add Checking Savings Default Change Financial Institution: ______________________________________________________ Fixed Amount Cancel Routing Number: _________________________________________________________ $ ________________ Account Number: _________________________________________________________ DISTRIBUTION 2 Select Option Account Information Distribution Type Add Checking Savings Default Change Financial Institution: ______________________________________________________ Fixed Amount Cancel Routing Number: _________________________________________________________ $ _______________ Account Number: ________________________________________________________ AUTHORIZATION (Signature Required): Retiree Signature Date Home Phone # Cell Phone # Second Signature Date Home Phone # Cell Phone # If more than one signature is required to authorize withdrawals of funds, all must sign this form before you submit it. 4 The Messenger, Winter 2018 FRM_Direct_Deposit_6 08 2016 www.wcers.org Tips for Protecting Your Online Accounts 1. Keep any documents that may contain personal infor- mation (i.e. passwords, PINs, and account numbers) in a safe place. If you dispose of information, shred the doc- uments first. 2. When accessing online accounts with sensitive information, do not use unsecured, public net- works to log in. Also, be sure to use strong pass- words and use different passwords for different accounts.