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CAAERS NEWS For Employees, Retirees & Beneficiaries of the City of Ann Arbor Employees’ Retirement System Inside this issue Reree Luncheon................... 2 Health Care Benefits .............. 2 Summary Fact Sheet .............. 3 Meeng Schedules ................ 4 Rola Ismail: Phone: 866-749-5175 E-mail: [email protected] Investor Services: Phone: 800-669-7400 Website: www.icmarc.org Retirement System Updates Welcome New Trustee At the regular meengs on January 17, 2019 for the Rerement System & Reree Health Care Benefit Plan & Trust, the Trustees welcomed Joseph Peariso, General Member Trustee. Joseph’s term will end December 31, 2021. He has replaced Terry Clark, who had been a Trustee for the Rerement System for 9 years. We thank Terry for his service! Noficaons of Death The Rerement System must be nofied as soon as possible of an Acve Member, Reree or Beneficiary death. Noficaons can be made by calling the Rerement Office. The person nofying the Rerement Office will be asked to idenfy the parcipant’s informaon, provide contact informaon and an original death cerficate. To make the proper adjustments to the parcipant’s monthly pension benefit, an original death cerficate will be required. Website The City of Ann Arbor Employees’ Rerement System website has user friendly links for both Rerees and Acve Employees. Each link provides helpful informaon pertaining to their specific status. Members will also have access to certain forms that are required to make changes to their account such as, direct deposit informaon, beneficiary informaon, esmate requests, change of address, etc. As always, members are welcome to stop by or call the Rerement Office with any quesons or concerns. ICMA-RC If you have any quesons regarding any of your ICMA-RC rerement Plans, please connue to contact Investor Services directly. Rola Ismail is your Rerement Plan Specialist and is available to both acve and rered employees. She is responsible for providing rerement and investment readiness educaon, and an overall review of all of your opons during your working years and rerement. For specific investment advice, please consult your financial advisor. SPRING 2019 532 S. Maple Road Ann Arbor, MI 48103 Phone: 734-794-6710 Fax: 734-994-9205 Monday—Friday 8:00 a.m.—5:00 p.m. Rerement Staff Wendy Orcu, Execuve Director [email protected] Daniel Gustafson, CEBS, GBA, RPA, Pension Analyst [email protected] Corbin Hammond, CPA, Accountant [email protected] Laura Hollabaugh, Mgmt. Assistant [email protected] BOARD OF TRUSTEES Jeremy Flack, Chair, Fire Trustee [email protected] Alexa Nerdrum, Vice-Chair, Cizen Trustee [email protected] David Monroe, Secretary, Police Trustee [email protected] Joseph Peariso, General Trustee [email protected] Tom Crawford, Chief Financial Officer [email protected] Tony DiGiovanni, Cizen Trustee [email protected] Brock Hase, Cizen Trustee [email protected] Julie Lynch, Cizen Trustee [email protected] Jordan Schreier, Cizen Trustee [email protected]
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Page 1: CAAERS NEWS SPRING 2019 · Rola Ismail is your Retirement Plan Specialist and is available to both active and retired employees. She is responsible for providing retirement and investment

CAAERS NEWS For Employees, Retirees & Beneficiaries of

the City of Ann Arbor Employees’

Retirement System

Inside this issue

Retiree Luncheon ................... 2

Health Care Benefits .............. 2

Summary Fact Sheet .............. 3

Meeting Schedules ................ 4

Rola Ismail:

Phone: 866-749-5175

E-mail: [email protected]

Investor Services:

Phone: 800-669-7400

Website: www.icmarc.org

Retirement System Updates Welcome New Trustee

At the regular meetings on January 17, 2019 for the Retirement System & Retiree

Health Care Benefit Plan & Trust, the Trustees welcomed Joseph Peariso, General

Member Trustee. Joseph’s term will end December 31, 2021. He has replaced

Terry Clark, who had been a Trustee for the Retirement System for 9 years. We

thank Terry for his service!

Notifications of Death

The Retirement System must be notified as soon as possible of an Active

Member, Retiree or Beneficiary death. Notifications can be made by calling the

Retirement Office. The person notifying the Retirement Office will be asked to

identify the participant’s information, provide contact information and an

original death certificate. To make the proper adjustments to the participant’s

monthly pension benefit, an original death certificate will be required.

Website

The City of Ann Arbor Employees’ Retirement System website has user friendly

links for both Retirees and Active Employees. Each link provides helpful

information pertaining to their specific status. Members will also have access to

certain forms that are required to make changes to their account such as, direct

deposit information, beneficiary information, estimate requests, change of

address, etc. As always, members are welcome to stop by or call the Retirement

Office with any questions or concerns.

ICMA-RC

If you have any questions regarding any of your ICMA-RC

retirement Plans, please continue to contact Investor Services

directly.

Rola Ismail is your Retirement Plan Specialist and is available to both active and

retired employees. She is responsible for providing retirement and investment

readiness education, and an overall review of all of your options during your

working years and retirement. For specific investment advice, please consult

your financial advisor.

SPRING 2019

532 S. Maple Road

Ann Arbor, MI 48103

Phone: 734-794-6710

Fax: 734-994-9205

Monday—Friday

8:00 a.m.—5:00 p.m.

Retirement Staff

Wendy Orcutt, Executive Director

[email protected]

Daniel Gustafson, CEBS, GBA, RPA,

Pension Analyst

[email protected]

Corbin Hammond, CPA, Accountant

[email protected]

Laura Hollabaugh, Mgmt. Assistant

[email protected]

BOARD OF TRUSTEES

Jeremy Flack, Chair, Fire Trustee

[email protected]

Alexa Nerdrum, Vice-Chair, Citizen Trustee

[email protected]

David Monroe, Secretary, Police Trustee

[email protected]

Joseph Peariso, General Trustee

[email protected]

Tom Crawford, Chief Financial Officer

[email protected]

Tony DiGiovanni, Citizen Trustee

[email protected]

Brock Hastie, Citizen Trustee

[email protected]

Julie Lynch, Citizen Trustee

[email protected]

Jordan Schreier, Citizen Trustee

[email protected]

Page 2: CAAERS NEWS SPRING 2019 · Rola Ismail is your Retirement Plan Specialist and is available to both active and retired employees. She is responsible for providing retirement and investment

2

2019 Educational Luncheon For Retirees

Thursday, May 30th, 2019 Weber’s Ann Arbor 3050 Jackson Ave.

11:30 a.m.—2:30 p.m. Spouses are welcome!

“Market Volatility and Proper Asset Allocation” Presented by Nancy Lange, Certified Financial Planner, ICMA-RC

Call or email to make reservations before Friday, May 24, 2019!

734.794.6710 [email protected]

New Retirees Since our last newsletter, the following employees have retired or have filed their final paperwork:

Julie Steiner, Human Resources (Def.) - 1/1/18

Mary Fales, City Attorney —3/3/18

John Kryda, Public Services (Deferred) - 3/5/18

James Baird, Safety Services/PD—3/24/18

Katie Nucci, Safety Services/PD—4/28/18

David Petrak, Admin/Finance—4/28/18

Larry Sanford, Public Services—4/29/18

Matthew Lige, Safety Services/PD—5/18/18

James Adams, Safety Services/FD—5/25/18

Ellen Taylor, Safety Services/FD—6/10/18

Matthew Warba, Public Services—6/30/18

Thomas Thorsby, Public Svs. (Deferred) - 8/1/18

Michael Cemazar, Safety Services—8/17/18

Diana Gorney, 15th District Court—9/1/18

Nancy Christopher, Community Svs.—9/11/18

Patricia Hopkins, Safety Services/FD—9/15/18

Marjorie Reynolds, Safety Svs./PD—9/28/18

Patrick Aviotti, Safety Svs./FD (Def.) - 10/1/18

Diane Palfreyman, Housing Comm. (Def.) - 10/1/18

Elizabeth Patten, Safety Services/PD—10/21/18

Mark Lloyd, Community Svs. (Deferred) - 11/1/18

Dayle Lane, 15th District Court—11/3/18

Pamela Simmons, Community Svs.—11/10/18

Matthew Naud, City Administration—12/1/18

John Elkins, Safety Services—12/1/18

Ira Harrison, Safety Services/FD—12/8/18

Rita Tipton, 15th District Court—12/15/18

Tracy Kilburn, Public Services—12/31/18

Tamera Jones, Safety Svs./FD (Def.)—1/1/19

Jeffrey Ford, Safety Services/PD—1/10/19

Bradley Ruppel, Community Services—1/12/19

Sean Lee, Safety Services/PD—1/19/19

Nancy Niemela, City Attorney—1/19/19

Kathleen McMahon, Admin/Fin. (Def.) -2/12/19

Craig Martin, Safety Services—2/20/19

Sheila Johnson, Public Services (Def.) - 3/1/19

Elaine Eichbauer, Safety Services—3/1/19

Tarita Fonville, Public Services—4/1/19

Ciceley Lawson, Safety Svs./PD—4/1/19

Abigail Elias, Public Services—4/13/19

Have a healthcare benefit question and not sure who to contact? Please see below for your City of Ann Arbor benefit team members. (Please call to schedule an appointment if you prefer a meeting). For a quicker response, please contact the designated benefit team member.

Retirees: Jessica Hull

[email protected] Phone: 734.794.6126

Fax: 734.794.6136

Active Employees: Kimberly Barry

[email protected] Phone: 734.794.6125

Fax: 734.794.6136

HEALTHCARE BENEFITS

Call the Retirement Office and request the form

to be mailed

Print the change of address form from our

website under the “Retiree” Tab

Stop by the Retirement Office to complete the

form, or

Email the Retirement Office with your updated

information

Remember to report any change of address or contact information to the

Retirement Office! We can also update your records with the City and

Northern Trust.

To complete a change of address form:

KEEP US UPDATED!

You can view your Blue Cross Blue Shield benefit summary list online! You will need to

log into your member account at www.bcbsm.com and click on the following:

Under the My Coverage tab:

Medical

Visit Summary

What’s Covered

Download Your Benefits

WEBER’S

Page 3: CAAERS NEWS SPRING 2019 · Rola Ismail is your Retirement Plan Specialist and is available to both active and retired employees. She is responsible for providing retirement and investment

3

Economic Factors, Investment Returns, and Other Important Matters

The Retirement System’s funding

objective is to meet the City’s

long-term benefit commitment to

retirees through contributions

that meet or exceed the Actuarial

Determined Contribution (ADC).

On a long-term investment basis,

the Retirement System is funded

at 86.5%. The long-term basis

uses a “smoothed asset value”

when calculating the funded sta-

tus of the Plan. The Retirement

System’s financial experience met

the target during the year ended

June 30, 2018. Total Plan assets

increased by 2.6% on a financial

basis. Investments returned 7.0%

net of fees for the year ended

June 30, 2018.

Visit us online!

www.a2gov.org

Sources of Funds June 30, 2018 June 30, 2017

Investment Income (Loss) (Net

of Fees)

33,235,000 54,242,000

City Contributions 13,446,000 13,253,000

Member Contributions 3,185,000 3,325,000

Total 49,866,000 70,820,000

Summary Fact Sheet

Key Figures

(Actual-Last 2 Years)

City Contributions Benefits Paid Funded Ratio

FYE June 30, 2018 13,446,000 36,715,000 86.5%

FYE June 30, 2017 13,253,000 34,408,549 85.8%

Increase (Decrease) 193,000 2,306,451

Key Figures

(Projected-Next 2 Years)

Projected City

Contributions

Projected Benefits

Payable

FYE June 30, 2020 14,092,066 39,979,000

FYE June 30, 2019 13,464,778 39,734,289

Increase (Decrease) 627,288 244,711

Demographics June 30, 2018 June 30, 2017 Increase

(Decrease)

Active Membership

General Members 499 495 4

Police Members 118 121 (3)

Fire Members 78 80 (2)

695 696 (1)

Retirees/Beneficiaries

General Members 693 672 21

Police Members 214 207 7

Fire Members 160 161 (1)

1067 1,040 27

4.8% Annual Interest Rate for Members’

Contributions

The Board of Trustees at its

regular meeting on Thursday,

December 20, 2018, approved

an annual interest rate of 4.8%

for members contributions for

the 2019 calendar year. The

equivalent quarterly return is

1.20% The quarterly interest

will be credited to members’

accounts beginning the quarter

ending March 31, 2019.

Note: Members in retirement do

not receive interest on contribution

accounts.

Active Employees Self-Service Website

Pension contribution account statements are available at the City of Ann Arbor Employee Self Service website:

https://www.benefitmodeling.com/annarbor/default.aspx

After registering , you will be able to:

Download/print your contribution account statement and your accrued benefit from the AAERS pension plan at your convenience

Estimate your pension benefits using various retirement dates

Verify your current beneficiary designation (Beneficiary Change forms can be found on our website)

Page 4: CAAERS NEWS SPRING 2019 · Rola Ismail is your Retirement Plan Specialist and is available to both active and retired employees. She is responsible for providing retirement and investment

City of Ann Arbor Employees’ Retirement System

532 S. Maple Road

Ann Arbor, MI 48103

ADDRESS CORRECTION

REQUESTED

All meetings are held

at the Retirement

System’s Office

located at 532 South

Maple Road, Ann

Arbor, MI 48103,

unless otherwise

noted.

2019/20 Retiree Ex-Officio Meeting Schedule

This Committee represents and is comprised of City retirees and beneficiaries. All City retirees and

beneficiaries are invited to attend the meetings, get involved, and provide any input that they wish to

express to the Board of Trustees of the City of Ann Arbor.

2019 Board Meeting Schedule

Retirement Board Meetings are held on the Third Thursday of every month.

April 18, 2019 July 18, 2019 October 17, 2019

May 16, 2019 August 15, 2019 November 21, 2019

June 20, 2019 September 19, 2019 December 19, 2019

March 28, 2019 September 26, 2019 January 30, 2020

April 25, 2019 October 24, 2019 February 27, 2020

We extend our condolences to the family and friends of those retirees of CAAERS who have passed away since our last publication.

With Deepest Sympathy

Robert Fletcher—2/12/18

Joseph Pluff—2/15/18

Marianne Wilcher—3/2/2018

Barbara Hanselman—3/7/2018

Mark Cozart—3/19/2018

Gary Haywood—4/4/2018

Edward Soper—4/16/18

Carolyn Wagner—6/6/2018

Eddie Collins—6/15/2018

Dorothy Smith—6/18/2018

Nancy Crosby—7/30/2018

Louisa Pieper—8/15/2018

Richard Allport—8/17/2018

Eleanore Miller—8/21/2018

Zaki Khumayyis—9/5/2018

Genecieve Mays—9/14/2018

Mary Sproull—9/25/2018

Ralph Salmeron—9/26/2018

Michael Tracy—9/28/2018

Marjorie Herkimer—10/23/2018

John Schnur—11/7/2018

Betty King—11/14/2018

David Forester—11/30/2018

Daryl Kooperman—12/2/2018

Betsy Cornellier—12/31/2018

Theodore Ketchum—1/5/2019

Steven Hendel—1/10/2019

Nancy Whitaker—1/11/2019

James Baker—1/19/2019

Donald Mason—2/12/2019


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