A newsletter for Wyoming AARP members that discusses relevant and current topics impacting the 50+ population in the state. Volume 3 Issue 1
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e AARP Wyoming NEWS In is Issue... Legislative wrap-up - Wyoming Retirement System - Close the loophole - And much more... May 2015 A ARP Wyoming welcomed Amy Goyer, AARP’s expert on family and caregiving, at the Wyoming Conference on Aging in Cheyenne in April. In addition, she took the time to participate in a tele-town hall with over 5,000 members to discuss caregiving in Wyoming. Goyer has spent more than 30 years advocating for and serving older adults, children and families. Since 2009 she has been primary caregiver for her parents; Robert, who is 91 and has Alzheimer’s disease, and Patricia, who passed in October of 2013 at the age of 87, as well as her sister, Karen, who passed in December of 2014. Amy is the author of numerous publications, including the book, AARP’s Juggling Work and Caregiving. With more than 106,000 caregivers in Wyoming providing an estimated 680 million dollars in unpaid care a year, caregiving is an important issue for Wyoming. And with 9 out of ten people preferring to age at home, that number is not likely to decrease anytime soon. “I know being a caregiver can be the most important unpaid job you ever have,” Goyer said. “We also know it can be incredibly stressful.” at is why she emphasized the importance of planning even if you aren’t a caregiver yet. Goyer recommends that people review the free “Prepare to Care” checklist offered through aarp. org. “Have a plan in place if you are becoming a caregiver,” she said. “Assess the needs and challenges of your loved ones.” Goyer also emphasized that people shouldn’t go it alone. “Look at resources in your loved one’s life,” she said. “Who can help you with caregiving -- Family, friends, neighbors? And also look at what paid resources are available.” “Consider the finances, both theirs and yours, because, for some caregiving becomes a full- time job,” Goyer added. Another consideration as you look at becoming or continue as a caregiver is taking care of yourself. Goyer said that Caregivers often don’t consider their own health, both mentally and physically. But, she said, it is critical to think about your health because if it fails so can the care you are providing. “at’s why it’s important to explore what resources are available for you as the caregiver,” She said. “Whether it is a caregiver support group, seeing a mental health professional, coordinating some alone time occasionally or just having a friend that you can talk to.” National caregiving expert comes to Wyoming -CONINUED ON PG. 3
Legislative wrap-up - Wyoming Retirement System - Close the loophole - And much more...
May 2015
AARP Wyoming welcomed Amy Goyer, AARP’s expert on family and caregiving, at
the Wyoming Conference on Aging in Cheyenne in April. In addition, she took the time to participate in a tele-town hall with over 5,000 members to discuss caregiving in Wyoming.
Goyer has spent more than 30 years advocating for and serving older adults, children and families. Since 2009 she has been primary caregiver for her parents; Robert, who is 91 and has Alzheimer’s disease, and Patricia, who passed in October of 2013 at the age of 87, as well as her sister, Karen, who passed in December of 2014.
Amy is the author of numerous publications, including the book, AARP’s Juggling Work and Caregiving.
With more than 106,000 caregivers in Wyoming providing an estimated 680 million dollars in unpaid care a year, caregiving is an important issue for Wyoming.
And with 9 out of ten people preferring to age at home, that
number is not likely to decrease anytime soon.
“I know being a caregiver can be the most important unpaid job you ever have,” Goyer said. “We also know it can be incredibly stressful.”
That is why she emphasized the importance of planning even if you aren’t a caregiver yet.Goyer recommends that people review the free “Prepare to Care” checklist offered through aarp.org.
“Have a plan in place if you are becoming a caregiver,” she said. “Assess the needs and challenges of your loved ones.”
Goyer also emphasized that people shouldn’t go it alone.
“Look at resources in your loved one’s life,” she said. “Who can help you with caregiving -- Family, friends, neighbors? And also look at what paid resources are
available.” “Consider the finances, both
theirs and yours, because, for some caregiving becomes a full-time job,” Goyer added.
Another consideration as you look at becoming or continue as
a caregiver is taking care of yourself. Goyer said that Caregivers often don’t consider their own health, both mentally and physically. But, she said, it is critical to think about your health because if it fails so can the care you are providing.
“That’s why it’s important to explore what resources are available for you as the caregiver,” She said. “Whether it is a caregiver support group, seeing a mental health professional, coordinating some alone time occasionally or just having a friend that you can talk to.”
National caregiving expert comes to Wyoming
-Coninued on Pg. 3
Wyoming’s state legislators have returned home, and
the State Capitol in Cheyenne is now a pretty quiet place, frequented mostly by tourists and sightseers. That wasn’t the case in January through March; the Capitol was bustling and full of action on many different issues.
Much of the legislation passed in March will be taking effect and impacting Wyoming citizens on July 1. Some of these new laws and issues will have major impacts on Wyoming’s age 50-plus population.
AARP worked hard this session on the following priority issues on behalf of our Wyoming members and Wyoming’s 50 plus population:
Rewriting the Wyoming Telecommunications Act
AARP’s longstanding telecommunications policy goals have always been to ensure that Wyoming consumers have access to affordable, high quality telecommunications services with reasonable consumer protections in place. The ten year old Wyoming Telecommunications Act accomplished these goals. However, a lot has happened in the telecommunications industry in those ten years and it was time to update the law, while still protecting Wyoming’s
telecommunications consumers. Some legislators, interest groups and telecommunications providers initially advocated for various degrees of deregulating the industry.
AARP believed that, while in need of updating, key consumer protections contained in the Wyoming Telecommunications Act needed to be preserved to protect the interests of Wyoming’s residential and small business consumers.
AARP worked with key legislators, the Wyoming Telecommunications Association, and the Wyoming Farm Bureau to come up with an updated rewrite of the telecommunications act that struck a balance between industry interests and consumer interests.
The revised act reauthorizes the Wyoming Telecommunications Act for another four years with the following changes.
1) Continued a cost-based, state Universal Service Fund (USF) option for companies who provide local exchange service;
2) adopted a stable USF benchmark of $30 for essential telecommunications service;
3) allowed providers who are currently regulated to achieve “parity” with non-regulated providers in areas deemed competitive by the Wyoming Public Service Commission and
4) Carrier of Last Resort (COLR) protections were preserved.
Essentially, COLR ensures
the availability of basic phone service at a reasonable price, and with reasonable quality. All other consumer protections stayed in place.
AARP wishes to thank Senators Charlie Scott, Curt Meier; Representatives Rosie Berger, Dan Zwonitzer; and others legislators who worked tirelessly on this issue and the various groups who sought compromise and reasonable solutions that protected Wyoming consumers. We also want to recognize the Governor’s leadership in helping to make this rewrite possible.
Wyoming State Retirement System
AARP and the Coalition for a Healthy Retirement System strongly opposed pre-legislative session proposals brought forward by out-of-state interests/think tanks that would have changed Wyoming’s defined benefit system into a defined contribution model (similar to a private accounts based 401K system).
We were successful in preventing these proposals from being introduced during the 2015 session.
We feel that the Wyoming Retirement System is NOT in crisis.
Currently, the largest state retirement plan is funded at about 79 percent and rising, which means that if each and every retiree and current employee, collected their full pension amounts, the state would be able to pay out only 79
Copyright 2015:Please contact AARP Wyoming for permission to reproduce content contained herein.Volume 3: Issue 1 Editor: Tim Lockwood
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percent. This situation is completely
hypothetical and would never happen because it assumes no other contributions would be made to the fund and that all payments are made immediately.
The Wyoming Retirement System Board, the Joint Appropriations Committee and the Legislature have been making adjustments and changes to the retirement system since 2012, implementing common sense, incremental changes to shore-up the system for decades to come.
These changes and adjustments will take time to fully impact the system and should be allowed adequate time to work before extreme and costly fixes are proposed.
Medicaid ExpansionWyoming will have to wait at
least another year for Medicaid Expansion.
The legislature soundly defeated several proposals that would have allowed for the optional expansion of Medicaid, which would have extended health insurance coverage to an additional 17,600 people, a portion of whom are ages 50 to 64 who live without any coverage.
It could have saved Wyoming a total of $47 million over seven years in reductions to safety-net programs within the Wyoming Department of Health.
Expanding Medicaid would have also helped Wyoming’s hospitals deal with the $200 million a year in uncompensated care costs that are currently shifted to all health care consumers.
AARP feels that delaying expansion only deprives the state from millions that could have been used to strengthen Wyoming’s economy and workforce.
We urge AARP Wyoming
members and the 50-plus to call their legislators over the summer and fall to tell them that Medicaid Expansion is the fiscally right decision and to bring back federal tax dollars to Wyoming in the next legislative session.
Wyoming Home Services Program
More than 100 people in Wyoming will have the support they need to age at home thanks to efforts of the Wyoming Legislature during the most recent session.
AARP and Wyoming’s senior centers advocated for an additional $200,00 in funding to support the Wyoming Home Services program.
The program provides direct services to Wyoming’s frail elderly and disabled so they can maintain their independence in their own homes as long as possible.
It is a state-wide service for individuals who are at risk of prematurely or inappropriate nursing home placement. Research shows that 87 percent of adults age 65+ want to stay in their home and community as they age.
The remarkable efficiency of the funding is that this increase will help 103 people age in their homes at $1,930 per client per year. The same funding would only cover the cost of three people in a nursing home at Wyoming’s current average cost of $68,649.
The program is not a free ride as clients pay on a sliding scale based on their income and community contributions covers 20 percent of the cost.
Program services include: Respite care, Care Coordination, Personal care, Chore services, Homemaker services, Personal Emergency Response Systems, Adult day care, and Hospice services.
The average length of time
an individual is a client of the Wyoming Home Services Program is five years.
And of those that are clients, 80 percent of them are able to remain in their home until they pass away and 12 percent receives services for a shorter term before going off the program to live independent again.
AARP urges Governor Mead to make this additional funding permanent as he creates his 2017-2018 budget over the summer and into the fall.
AARP advocates for consumers in Wyoming
As someone who has lost two loved ones, Goyer said that pacing is one of the biggest challenges.
“Caregiving is constantly changing,” she said. “Balance is a huge part of caregiving, but also a huge challenge.”
She said that is why it is critical to build a good team around you that can support you, but also help keep you accountable so your life can stay balanced.
“I look at it as I don’t expect my car to run without gas, but I expect myself to run without energy. That’s crazy.” Goyer said. “So I have to keep filling my own tank and you have to know what works for you whether its exercise, sleep, eating well, seeing friends and also having quality time with those you are caring for.”
“Don’t forget to enjoy the days with those you are caring for because you don’t know how many of those days you will have,” she said.
For additional information on caregiving, visit aarp.org/caregiving or call 1-877-333-5885.
Also don’t forget to visit Goyer’s blog at AARP’s website at aarp.org.
Goyer Cont’
The Wyoming Retirement Sys-tem (WRS) administers retirement benefits for employees of over 700 public employers statewide. Cur-rently, the membership totals about 42,000 active mem-bers; 26,000 retired members; and 6,000 vested inactive members.
The active membership is com-prised of employees from school districts, the University of Wyoming and community colleges, state and local government and various other political subdivisions. The large ma-jority of WRS’ members are in the Public Employee Pension Plan.
WRS’ pension plans are defined benefit retirement plans, which pro-vide a member a monthly payment for life once the member meets age, vesting and service qualifications.
In 2014, WRS paid over $488 mil-lion in benefits to retirees. About 80 percent of these payments remain in Wyoming. The ripple effect of these payments helps to stimulate and stabilize both the state and lo-cal economies. Pension payments also offer excellent retirement secu-rity and reduce economic hardship
among the elderly.The average retiree benefit in
2014 was about $18,000 a year, or $1,500 a month with the average service at retirement 19.6 years. In
general, the amount of this “defined benefit” is deter-mined by a formula based
on the member’s salary, length of service and age at retirement.
The funding ratio of a pension plan is a snapshot of the plan’s current status at a given moment in time, but it is important to also consider the direction the plan is headed over time. Wyoming Retire-ment System’s pension plans are on a trajectory toward 100 percent funding status, with the exception of one plan that has been closed to new members for several years. The Public Employee Plan is roughly 79 percent funded.
Cost of Living Adjustments (COLA) are not a guaranteed ben-efit of most of the WRS pension plans. A 2012 change in state law set a requirement of 100 percent funding to award COLAs from pen-sion assets and returned authority to grant a COLA to the Legislature.
However, previously awarded CO-LAs are still being paid to retirees.
WRS currently has over $7.6 billion in assets. Contributions to WRS’ pension plans are paid by a combination of employer and employee, with the amount of these contributions set in state statute by the Wyoming Legislature. The con-tributions are pooled and invest-ments are managed by the system. Between 1993 and 2012, 70 percent of Wyoming retiree payments came from investment earnings.
Defined benefit pension plans have advantages over defined con-tribution plans in that the system can maintain a professionally-managed and diversified invest-ment portfolio over time, where an individual would need to move into lower risk/return investments later in their career.
The system can also base its funding targets on average life expectancies, where an individual would need to save more and take a cautious approach to managing their retirement income in order to be prepared to live longer than average.
You’ve worked hard to save for retirement and you
deserve a financial advisor who works just as hard to protect what you’ve earned. Right now, loopholes in the law allow bad-actors in the financial industry to provide retirement savings “advice” based on what’s best for their pocketbook, not yours.
The result? They can recommend investments with higher fees, riskier features, and lower returns because they earn more money, even if those investments are not the best choice for you. Bad advice is wrong, and it is costing Americans up to $17 billion per year.
-For workers, bad advice could cost as much as 25 percent of their retirement income.
-Retirees could lose five years’ worth of retirement income.
AARP believes you deserve a new standard that holds Wall Street and everyone who provides retirement advice genuinely accountable for helping you choose the best advice for you, your family and your future.
How do bad-actors drain your retirement savings?
Without ever bothering to check on your financial situation, “advisers” may recommend that you roll over your 401(k) savings into an IRA where, in fact, the investment expenses you pay are higher than those in your 401(k).
“Advisers” may recommend that you invest your IRA in a variable annuity that charges high fees, locks up your money for years, and provides no tax benefits beyond what your IRA already offers.
Or, in a variety of other ways, “advisers” may recommend
investments that pay them more but force you to pay unnecessary costs, face unnecessary risks, or accept unnecessarily low returns on your investments.
The SolutionThe U.S. Department of Labor
is trying to raise the standard so that all financial professionals who provide retirement advice are held genuinely accountable for providing advice based on what’s best for your financial future. Previously, employers managed pension investments for their employees, but today, most workers and retirees have to manage their own money. With so many complicated investment choices, Americans need reliable
advice they can trust.With a new standard, you won’t
have to try to figure out whether your financial “adviser” is really a salesman looking out for his or her own interests or a true adviser looking out for yours. A new standard will ensure that all financial professionals who offer retirement advice must make recommendations designed to serve your best interests by keeping your costs low, recommending sound investments, and protecting your retirement nest egg from unnecessary risks.
To join the fight for a new standard that holds Wall Street and all advisors who provide retirement advice genuinely accountable, go to aarp.org/loophole
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Closing “loophole” protects your retirement
WY Retirement System trending in the right direction
-By Ben Tonak
Wyoming ReTiRemenT sysTem
Staff of the Walmart Distribution Center in Cheyenne volunteered their time in April to build and fill the raised gardens at the Cheyenne VA in recogntion of Earth Day.
The gardens are a joint partnership between the VA and AARP to create a relaxing place for veterans to enjoy nature and use their hands to grow vegetables in a number of raised garden beds on the VA property.
The produce will be used to supplement the VA kitchen so residents have an opportunity to enjoy fresh vegetables from right outside the door of the VA.
Volunteers build VA gardens
Editor’s Note: The Wyoming News has completed a series of articles on how the Wyoming Secretary of State’s Office fights investment fraud. Now we turn our attention to consumer protection.
Mary’s telephone rings.“Hello?” says the 87-year-
old Casper resident.“Hi, Grandma,” says the voice at
the other end of the line. “I’m stuck in Las Vegas, where the bus broke
down. I was on my way back to college, but
they won’t refund my ticket, and I have no other way to get there. Can you please wire me $1,000, so I can get back to school?”
Consumer scamsScenarios like this one play out
more often than you’d think. Mary may well have a grandson on his way to college, but this call is not from him. It’s from a scam artist hoping to take advantage of a senior citizen.
Luckily, there’s an entire division of the Wyoming government assigned to fight fraudulent activities like this one.
The Consumer Protection Unit of the Wyoming Attorney General’s Office keeps tabs on the schemes dreamed up by unscrupulous individuals, and it often catches the perpetrators.
Lesley Osen, the Administrator for Consumer Protection, says her office tries to prevent people from becoming fraud victims, too.
“We visit senior centers and speak about scams directed at older populations,” she said. She notes that there are several variations of a few cons that have been around for a long time.
“One we call the Grandparent
Scam,” she said, “is where a young person calls, pretending to be a grandkid, asking to have money wired to them. There’s also the Advance Fee Scam, where someone calls and says you’ve just won a prize, but you have to pay a fee or a tax before the prize money can be released to you. The bottom line is that you never have to pay to win money. If someone claims you do, it’s a scam.”
But what if a person falls victim to a scam? It turns out the Consumer Protection Unit is able to help with that, too.
“If someone calls in with a consumer complaint,” Osen said, “we have them fill out a form. An attorney reviews it to see if there is a concern.” She explains that the Consumer Protection Unit doesn’t investigate fraud and scams itself. The unit refers the crime to the Federal Trade Commission, which is better equipped to resolve the issue. However, the Consumer Protection Unit is a good place to report the scam, because that office is able to inform the public quickly and prevent others from falling victim.
“We like to have these issues reported to us,” Osen said. “If we see a new scam or an upswing in a scam we know about, we can do a press release to let people know to be careful about it.”
Sometimes the concern is bigger than a single perpetrator.
“Attorneys look for patterns with companies, too,” Osen said. “If there is a pattern [of illegitimate business], they investigate further.”
An example of this might be that a person orders an item from an online source, but the item is never
received by the customer.“The person can file a report
with our office,” Osen said. “If the person has called the company and not gotten a response, we’ll see if they’ll respond to our office so we can get it resolved.”
Osen says consumers often ask her office for help when warranties on products are not honored, even though they should be.
Data securityOsen said telling people how to
keep their personal information secure is another large part of how they protect Wyoming citizens.
“We tell people how to protect their account information and their social security numbers,” she said. If that information falls into the wrong hands, it can make it easier for thieves to break into a person’s online accounts and steal money or other valuables.
“When we speak to community groups, we remind them to never give out personal information when somebody calls,” Osen said. “The caller might tell them their credit card has been compromised and ask for an account number to verify it,” but she says legitimate credit companies will never ask for that information over the phone.
The same is true for other account information, like Medicare or Medicaid information. Osen said her unit stresses the importance of keeping any personal information private.
“Be very careful when throwing out paperwork that has your name, address, social security number, or any account numbers on it,” she said. “Shred that information; don’t just throw it in the trash.”
As an extra safeguard, Osen
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says the Consumer Protection Unit coaches people on how to freeze their credit.
“If you’re no longer going to be making major purchases, you can freeze your credit so no one can use it,” she said.
And finally, Osen urged everyone to get a credit report every year so they can make sure there are no strange entries in their record.
“You can call 877-322-8228 to order an annual credit report, or you can get it online at annualcreditreport.com,” she said. You can get one free credit report each year.
Keep your moneyThe main goal of the Consumer
Protection Unit is to keep Wyoming citizens safe from fraud. You worked hard for your money, and Osen and her crew don’t want con artists to steal it from you.
To find out more about the Consumer Protection Unit or to learn about scams that are taking place right now, visit the unit’s website at http://ag.wyo.gov/cpu. You also can call the Consumer Protection Unit at 307-777-5833.
Keep your money: state office in place to help residents
-By Ty sToCkTon
guesT WRiTeR
Con artists don’t care how hard
you worked.They steal billions from Americans like you every year. We’re fighting back with the AARP
Fraud Watch Network. It provides resources to help you spot and avoid identity theft and
fraud so you can protect yourself and your family. Sign up to get watchdog alerts and stay
up to date on con artists’ latest tricks. It’s free of charge for everyone – members,
non-members and people of all ages. Because for over fifty years AARP has been
committed to safeguarding Americans’ financial futures.
aarp.org/fraudwatchnetwork
Watchdog Alerts Tips & Resources Free for Everyone
Best-selling author and veteran war correspondent will join the Wyoming Veterans Commission (WVC) in “welcoming home” Wyoming’s Vietnam veterans in Casper, Wyoming.
Joe Galloway, co-author of the best-selling “We were soldiers once…and young,” will be signing books during June’s Wyoming Vietnam Veterans “Welcome Home” reunion.
“AARP is proud to support and recognize our Vietnam Veterans,” Wyoming State Director Tim Summers said.
The WVC is hosting the four-day
event June 4-7 in Casper, Wyoming. Although veterans and their
families will be responsible for their lodging, the WVC will provide meals, refreshments and souvenirs throughout the reunion.
Veterans service organizations from around the State including Veterans of Foreign Wars, American Legion and Disabled American Veterans will be participating in the event.
Gov. Matt Mead will speak during Friday’s “Welcome Home” ceremony.
“The people that came back from that war were treated with great
disrespect,” WVC Director Larry Barttelbort said.
Many of Wyoming’s 17,000 Vietnam veterans never received a proper welcome home, he added.
“It’s time to honor the Vietnam vets,” he said. “We should have before, but we didn’t.”
In addition during the reunion, a tribute will be held in honor of WVC Honorary Chairman, Mick McMurry.
Join the celebration at the Casper Events Center by calling the WVC at 307-777-8152 for more information or visiting http://wvvr.wyo.gov/register to register.
AARP Wyoming invites people attending the annual NIC Fest to stop by its booth at the vendor fair.
The festival, which features more than 80 artists and bands, is hosted by the Nicolaysen Art Museum at 400 E. Collins St. in Casper.
AARP staff and volunteers will be onsite there June 26 and 27 to discuss the AARP Fraud Watch Network and to provide information on livable communities, caregiving and other topics of interest to Wyoming residents age 50-plus.
In addition, AARP Wyoming is sponsoring a free shredding event June 25, 11 a.m.-1 p.m., to help residents safely dispose of documents with personally identifiable information.
Residents can drop off up to two boxes of papers to be shredded at the Natrona County Public Library, 307 E. 2nd St., in Casper.
AARP staff will also give two Fraud Watch Network presentations at the library to help people learn about scams and frauds and tips for protecting yourself. The presentations will be held from noon to 1 p.m and 5:30 to 6:30 p.m. at the Natrona County Library.
In addition, AARP will support the Wyoming Bike Walk Trails Summit and host a panel discussion on senior living on June 25-26 at the Tate Pumphouse Trail Center. AARP is a sponsor of the event. You can register for the event at www.platterivertrails.com.
All events are taking place in Casper, WY. For more information, call AARP Wyoming at 1-866-663-3290.
