A QUARTERLY PUBLICATION Kentucky Retired Teachers Association Serving Retired Teachers Since 1957 VOLUME XXXXII, NUMBER 1 LOUISVILLE, KENTUCKY SEPTEMBER 2007 Color KRTA Active Who will support the best interests Patsy Young of Kentucky’s Retired Teachers? KRTA President Welcome to a new year! Oh, it is not January, but for most of us from Kindergarten though retirement, September marks the beginning of a new year; our schedules still revolve around the“school year.” With a new year of KRTA come new officers, meetings and workshops, but the same mission as always: to improve the welfare of retired educators in Kentucky. In an effort to accomplish the mission, I challenge us to COLOR KRTA ACTIVE. When asked the inevitable question, “What are you doing now that you are retired?” most retirees are saying, with a smile, “I am so busy.” What are we doing? For some, physical activity is the priority. Golfing, tennis, softball, walking or visits to the gym are among favorite ways to keep the body functioning well. Commendable! What about our minds? Are we reading, doing the crossword puzzles, learning new skills? Of course we are. We are also working real jobs with real demands. Staying Sharp, a collaborative effort between NRTA and the Dana Alliance to promote healthy living, supports the premise that physical and mental activity insures a sharper retiree (even helps Mr. Steve Beshear Governor Ernie Fletcher that memory problem). Democratic Candidate Republican Candidate KRTA members shine brightly in the area of community service. No other group contributes more hours in more areas than retired educators. In How Do Candidates for Governor Stand hospitals, nursing homes and jails, retirees offer compassion and are making on Issues Important to Retired Teachers? difference. Religious leaders are thrilled when a teacher retires; that simply In order to better inform the membership, KRTA asked the candidates means more time for teaching, driving the church van, answering the phone or for the race for the Governor of Kentucky to express their views on directing the choir. Community leaders ask retirees to help with blood drives, certain issues important to retired educators. The questions and their charitable causes from Relay for Life to Big Brothers Big Sisters to CASA. responses are on pages 4-5. Volunteer coordinators at schools still have the phone numbers and often call continued on page 2 PRSRT STD U.S. POSTAGE IN THIS ISSUE . AROUND THE STATE P A I D PERMIT 879 PRESIDENT’S MESSAGE . 1 Campbell County . 12 LOUISVILLE, KY GUBERNATORIAL RACE . 1 Calloway County . 12 A QUARTERLY PUBLICATION PERSONALLY SPEAKING Metcalfe County . 12 Kentucky Retired Teachers Association From the Executive Director . 2 Northern Kentucky District . 12 7505 Bardstown Road “Retirement Insecurity” Third District . 12 Louisville, Kentucky 40291-3234 “Social Security Update” Mrs. Shaw Moves to Alabama . 12 KRTA PARTNERS FOR YOUR HEALTH & SAFETY Finance & Investment Line . 3 “Hearing Loss Checklist . .” . 13 Legaline . 3 EMPLOYMENT OPPORTUNITIES 13 CANDIDATES SOUND OFF . 4 MISCELLANEOUS INFO MORE UPDATES “ . .Reducing Unwanted Mail ” 14 N. O. Kimbler Contributions . 11 “New Membership Co-Chairs” .14 KRTA DIRECTORY 2007-08 . 8 QUIPS, QUOTES & PUZZLES . 15 DECEASED RETIRED TEACHERS . 16 Social Security Update PAGE 2 KRTA NEWS SEPTEMBER 2007 Color KRTA. continued from page 1 to ask for help, knowing that the PERSONALLY SPEAKING . answer will be yes. So many are caregivers of parents and nurturing FROM THE LEADERSHIP babysitters for those precious grandchildren. Busy? No doubt RETIREMENT about it. Is it time for an extra-credit A c t i v e Bob Wagoner INSECURITY project? No other organization can A T R K possibly be as well-educated as There is a new catch phrase KRTA members. If totaled, the Executive showing up in discussions about retiree number of degrees and years Patsy Young Director pension plans: Retirement KRTA President experience would absolutely boggle Insecurity. These two (2) words are the mind. With the collective wisdom Volunteer to be on a committee. “code” for private sector employers from lessons learned, we must share Support a project. If the local does who are shifting pension management our knowledge with new teachers. not have a project, suggest one and from the employer to the individual. At the recent National Association of Mentoring is a role that we should ask others to help. Recruit new Securities Professionals’ Annual Pension and Financial Services Conference, accept with eagerness. What a members. Everyone knows someone Lori Crosely, principal at Greenwich Associates research firm stated, “The difference we can make if we connect who needs to join. Support the major industrialized countries of the world where pension assets are the largest with new teachers and encourage, officers; volunteer to become an no longer view defined benefit plans as a social responsibility for corporations.” counsel, explain, listen, share officer. Support the district As the number of private sector employers moving from defined benefit to knowledge and offer friendship. Do organization. Attend a meeting. Plan defined contribution plans continues to grow, more and more retirees are finding we remember that someone helped us to attend the state meeting. that it pays to have worked for the government instead of the private sector. in those early years? So many leave What is this all about? Good news! This assignment is the profession within the first three There is a crisis looming for all pension funds. In the last few years, we not difficult. There is so much help. years. Our reward for this activity: have become aware of the destruction and elimination of private sector pension KTRS publications are few but successful, effective teachers and plans. We have watched while plans have been cut, while people worry about contain valuable information. They improved instruction. Consider outliving their 401(k) type investments, and while many who had hoped to should be filed. The KRTA News is a “adopting” a teacher this year. retire now scramble to rebuild their “golden years.” must-read. For example, this issue has But it is not just private sector plans that are in trouble. We know public Now then, it is time to discuss the a wealth of information and should pensions are under attack as well. It seems that rather than work to restore required assignment for COLOR also be filed for future reference. As pensions for those who have lost them, it is more popular to destroy ours KRTA ACTIVE. Really, the close as the computer, the web page instead. assignment is quite simple. Each www.krta.org links members to As many taxpayers are losing their pensions or finding they will probably member of KRTA must accept the important sources. Questions can be outlive their savings, they begin to envy the public pensioners who have a responsibility to assure the continued answered by calling KRTA or emailing guaranteed lifetime pension benefit. Their misconception that they are paying success of this now golden [email protected]. The KRTA staff is for you to enjoy “the good life” creates an environment of public hostility and organization. superb! anger. How grateful we are for those Becoming active necessitates In Kentucky, taxpayers do not pay your pension. The monies in the pension leaders who saw the need for a keeping informed about the issues fund belong to you. The employee and employer contributions were paid in retirement plan for teachers and affecting retirees. Members must during your working years. You were willing to take less in salary to build your brought about the Kentucky Teachers’ know their legislators and their views pension, and it is those monies and the investment earnings on them that provide Retirement System in 1938. And how and communicate with them frequently. your pension today. Once you retire, NO TAX DOLLARS support your appreciative we are for those leaders Those phone numbers and e-mail Kentucky pension. who formed the Kentucky Retired addresses are essential. The 2008 Because of their Kentucky public pensions, many retired teachers are living Teachers Association in 1957 for the KRTA legislative program has been better in retirement than they ever expected. We are fortunate the Kentucky purpose of protecting our interests. adopted. ALL members should be Teachers’ Retirement System (KTRS) is fiscally sound. With over $15 billion For fifty years, retired educators have familiar with it. in assets, our system is in good shape to pay retired teacher pensions now and volunteered their time and energy to in the future. With a positive attitude and a serve this organization in its pursuit of desire to succeed, let’s begin this new So what is the problem? KTRS’ ability to continue paying for retired improved benefits for retirees. Council teacher health care is the immediate crisis facing KTRS. As The Kentucky year. Get excited! Move from the members, district officers and local sidelines onto the playing field. Gazette reported in its April 2007 issue, “Health care key to pension fix.” leaders have shown concern and The Blue Ribbon Commission on Public Employee Retirement Systems Together we will COLOR KRTA dedication. Who are they? Members ACTIVE. appointed by Governor Fletcher is expected to discuss the Commonwealth’s who pondered the question, “If not health insurance costs during the next several months. Officials from several you, then who?” and said, “I will A personal note: I am honored to state organizations have stated that health care costs are the biggest “cost serve.” That is the same question serve as your president in 2007-2008. driver” to Kentucky’s public pension plans. A full report from the Blue Ribbon asked of each member today. Your council, the officers and the Commission is expected by December 1, 2007. KRTA staff need your support as we The Blue Ribbon Commission has several “work groups.” At a recent What is the first step to service? serve this extraordinary organization.