sunshine was like powdered gold over the grassy
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1 June 30, 2021 Volume 36 – Issue 06 NEXT BOARD MEETING THE CTRA BOARD WILL MEET AGAIN ON WEDNESDAY, SEPTEMBER 8, 2021 AT 1:00 P.M. VIA ZOOM “It was June and the world smelled of roses. The sunshine was like powdered gold over the grassy hillside.” – Maud Hart Lovelace
Transcript of sunshine was like powdered gold over the grassy
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June 30, 2021 Volume 36 – Issue 06
NEXT BOARD MEETING
THE CTRA BOARD WILL MEET AGAIN ON WEDNESDAY,
SEPTEMBER 8, 2021 AT 1:00 P.M. VIA ZOOM
“It was June and the world smelled of roses. The sunshine was like powdered gold over the grassy hillside.” – Maud Hart Lovelace
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BECOMING A CTRA MEMBER OR RENEWING YOUR MEMBERSHIP If you are interested in becoming a CTRA Member or renewing your membership, please complete the application included in the newsletter. CTRA dues are based on calendar year (January through December). Signing up for payroll deduction is the easiest way to take care of your dues permanently. Just complete the CTRA Membership Application, including the bottom portion “COMPLETE ONLY FOR PAYROLL DEDUCTION”. Return to the address on the form. However, if you prefer to pay your dues by check, simply enclose your $6 check with your application. If you have any questions about your membership dues, please contact Kris Liberty, Membership Chair at 520-419-5983 or by email at [email protected]
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CTRA MEMBERSHIP APPLICATION RENEWAL OR CHANGE FORM
___New Membership ___Renewal ___Changes DATE________________________ NAME(s)______________________________________________ BIRTHDATE________________ COT EMP #_______________ OR LAST 4 DIGITS OF SSN: ____________ (For Retirement Office Use Only) Complete the following ONLY for NEW Membership OR Change: ADDRESS_______________________________________________ CITY ________________________________ STATE ________ ZIP_____________ TELEPHONE ___________________________ E-MAIL ADDRESS ______________________________________ SPOUSE’S NAME ____________________ RETIREMENT DATE/DEPT ________________________________ (COMPLETE FOLLOWING ONLY FOR PAYROLL DEDUCTION)
I authorize deduction of $.50 per month from pension check SIGNATURE________________________________________ (Required for Payroll Deduction) If you would rather send a check for your dues, please mark the box below. Dues become due on January 1st each year. _______ Enclosed is $6.00 for Annual Dues (Make check payable to CTRA) MAIL TO: Kris Liberty 2951 W. Alaska St. Tucson, AZ 85746
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TSRS RETIRED MEMBER’S REPRESENTATIVE: REPORT FOR JUNE 2021
It looks like the long-term financial effects of the City of Tucson employee pay raises on our pension fund will be a wash. There are some accrued future liabilities that have been put on the books. But, that liability looks like it will be offset by the larger amount of dollars being withheld from employees’ paychecks. Overall, the active employees will have the same percentage withheld as before the pay raises took effect. However, the fund will see a greater incoming cash flow that will come from the larger aggregate payroll base. I’ve asked for a report from Pension Office staff and the actuaries to verify that in more detail. I’ll let you know if they discover anything unusual, but I’m not expecting any surprises. Lots of old business was resolved at the most recent Board meeting. The Pension Office’s budget for the next fiscal year was approved. Minor changes were made in the board rules to reflect the effects of restructuring of the City’s management organization chart. The full set of board rules have been adopted; thus, finalizing a three-year revision project. This came with an acknowledgment that more work needs to be done with respect to the election of a retirees representative, the CTRA Board having expressed an interest in clarifying the roles of who should do what when the next election takes place. These details will be determined shortly before the start of the next election cycle. That will be in about two or three years, as my term in office expires. I saved the best news for last. The representatives of our financial oversight company (Callan and Associates) presented the latest monthly and quarterly results, and they congratulated us on passing an important threshold. For the first time in our history, the total value of our portfolio has passed the one billion dollar mark. We’re just above that value, so don’t be surprised if the portfolio bounces above and below it over the next few quarters. They also note that TSRS has exceeded all of its investment goals for the short-term, the medium-term, and the long-term. Good news all around as we begin the summer doldrums.
Best Regards, Jim Wysocki, TSRS Retired Members Trustee
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DEFERRED COMPENSATION REPORT
JUNE 2021
Due to summer vacation schedules, the Deferred Compensation Board will have a
short half hour quarterly meeting on June 16th. Unfortunately, the meeting is after
the deadline for this newsletter. The abbreviated meeting will address a few
administrative issues.
The consultant Innovest reports there are no investment funds on the watch list.
The scoreboard Innovest uses is clean for the three-, five-, and ten-year periods.
The market this past quarter has been strong, but keep in mind, we are in it for the
long multi-year term.
Inflation seems to be picking up. Participation in the DC program, if possible, is
important, in light of there being no COLA for the TSRS in the foreseeable future.
Stay safe and cool.
John O’Hare, Deferred Compensation Board Member
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IN MEMORIAM
Name Date Saturnina E. Garcia 05/16/2021 Herbert D. Hargrove 05/05/2021 BJ Viestenz 05/01/2021
MAY OUR PAST COLLEGUES REST IN PEACE! OUR CONDOLENCES TO THEIR
FAMILIES AND FRIENDS.
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Congratulations to the following City of Tucson’s newest retirees. We hope you live a long and happy retirement. Name Department Date Glenn P. Moyer Housing and Community Development 04/01/2021
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2021 EXECUTIVE BOARD MEMBERS
Mary G. Parker, President (520)-403-0053 Karol Aragonez Vice-President (520)-270-8974 Claudia Buford, Treasurer (520)-909-5992 Marilyn Kalthoff, Secretary (520)-331-4096 Lois Rios, Outreach Chair (520)-326-3021 Kris Liberty, Membership Chair (520)-419-5983 Jim Wysocki, TSRS Retiree Representative. (520)-749-9326 John O’Hare, TSRS Liaison, (520)-250-6003 Deborah Corral, Newsletter Editor (520)-256-6963 Agatha Anaya, Past-President (520)-889-3690
