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
Daniel Gustafson, CEBS, GBA, RPA,
Pension Analyst
Corbin Hammond, CPA, Accountant
Laura Hollabaugh, Mgmt. Assistant
BOARD OF TRUSTEES
Jeremy Flack, Chair, Fire Trustee
Alexa Nerdrum, Vice-Chair, Citizen Trustee
David Monroe, Secretary, Police Trustee
Joseph Peariso, General Trustee
Tom Crawford, Chief Financial Officer
Tony DiGiovanni, Citizen Trustee
Brock Hastie, Citizen Trustee
Julie Lynch, Citizen Trustee
Jordan Schreier, Citizen Trustee
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
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)
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