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SUAA Mini Briefing 07.31.2020

To All SUAA Members! COVID-19 just keeps coming. Don’t you wish that all businesses would say “NO SHIRT – NO SHOES – NO MASKS – NO SERVICE!” Let’s all just keep doing what we can to stay healthy. I know we have lost a few of our members due to COVID-19 and I know a few have recovered from it. Keep checking on each other!

The news seems bleak coming from the General Assembly. If it isn’t one thing it is another. Hopefully, Illinois will get itself on track soon.

Enjoy August the best you can. Make sure you get plenty of sunshine and share your spirit with those who need it!

Click Here to read the Mini Briefing

Linda L. Brookhart, Executive Director
State Universities Annuitants Association

 
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Posted by on July 31, 2020 in Uncategorized

 

SUAA CALL FOR NOMINATIONS

To All SUAA Members:

Due to the pandemic, the SUAA Annual Meeting had to be postponed. The Annual Meeting will be held virtually on September 30, 2020. While the order of business will be short, the election needs to go forward. Please consider selecting those who you believe would serve SUAA well in a Board of Directors position.

All nominations need to be at the SUAA office no later than Friday, September 11!

Click Here for the nomination form

Linda L. Brookhart, Executive Director
State Universities Annuitants Association

 
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Posted by on July 31, 2020 in Uncategorized

 

SUAA Foundation Scholarship Program Information

The SUAA Foundation offers four scholarships of up to $500 per scholarship annually. The scholarships are awarded for use in accredited degree-seeking programs, eligible technical/trade programs, and eligible certificate programs. The applicant must be a SUAA member in good standing or the spouse/partner, child, or grandchild of a SUAA member in good standing. Application materials are available on the SUAA Foundation website. Applications will be reviewed beginning on September 1.

In addition, the SUAA Foundation offers two grants of up to $500 per grant annually for professional development activities (travel expenses are excluded). The applicant must be a SUAA member in good standing who is currently employed at an Illinois institution of higher education. Applications are accepted throughout the year and grants are awarded throughout the year until two grants have been awarded. Application materials are available on the SUAA Foundation website. The award year is September 1 through May 31.

Questions can be directed to Alice Medenwald at aamedenw@neiu.edu.

You can find the SUAA Foundation Scholarship Program link listed on the SUAA Foundation page:
https://suaa.memberclicks.net/suaa-foundation

The direct link to the scholarship program information is: (you will need to be logged in to the SUAA website to access)
https://suaa.memberclicks.net/foundation-scholarship-program

Jan Cook
SUAA Foundation Chair

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Posted by on July 21, 2020 in Uncategorized

 

Updated GSU SUAA Board Membership List

Click here to view an updated GSU SUAA 2020-2021 board membership list.

(pdf file)

 
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Posted by on July 20, 2020 in GSU SUAA, Membership, Resources

 

GSU SUAA Meeting Minutes June 2020 w/ 2019-2020 Financials

Click here to view GSU SUAA June 2020 meeting minutes (includes 2019-2020 financials).

(pdf file)

 
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Posted by on July 20, 2020 in GSU SUAA, Meetings

 

SUAA Mini Briefing 7.16.2020

To All SUAA Members:

We hope your summer is allowing some fun experiences even though COVID-19 continues.

With the changes to schools opening and on-line learning, this could be an opportunity for some of you to sign up to tutor students from grade school level through college classes. Be sure to contact your local schools and higher learning offices. Parents, along with students, will need assistance.

Stay healthy – keep nose and mouth covered – hands sanitized – and most of all HAPPY!

Click here to read the mini-briefing.

Linda L. Brookhart, Executive Director
State Universities Annuitants Association

 
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Posted by on July 16, 2020 in Uncategorized

 

GSU SUAA meeting minutes for May 2020

Click here for GSU SUAA meeting minutes for the MAY 2020 meeting.

(pdf file)

 
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Posted by on July 15, 2020 in GSU SUAA, Meetings

 

Legislative Alert!

ISSUE: The Graduated (aka Fair) Income Tax Amendment to the Illinois Constitution will be on the November 3 ballot.

CONCERNS: Without increased revenue for the State, higher education will continue to be severely underfunded. The Fair Tax will provide additional revenue.

WHAT TO DO: Within the next week, the GSU-SUAA Newsletter will be sent to members. Please carefully read the articleWhat Is the Graduated Income Tax Amendment?

The article includes data and commonly asked questions and answers. It is important to understand the impact of the proposed amendment before voting on November 3.

IF QUESTIONS: If you have questions, contact any of the GSU-SUAA Board members. The list of Board members and their email are posted under the Contact Us tab above.

 
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Posted by on July 14, 2020 in Uncategorized

 

GSU-SUAA Legislative Alert !

ISSUE:

What proposals in the Governor’s Budget/State of the State address directly affect GSU and You?

SUMMARY:

Key proposals from the Governor’s Budget/State of the State Address:

  • Dedicate a portion of the new fair income tax to the pension system. Referred to as a “Fair Tax Rate, lower income and middle-income earners may even pay a slightly lower rate, while the higher income will pay a higher rate of income taxes. It is projected that this would generate an additional $200 million in revenue. Given the needed legislative action, this will take a minimum of 18 months.
  • Infuse new assets into the pension system up front. The Governor’s proposal depends on $1.1 billion additional money from recreational marijuana, a plastic bag tax, a progressive tax on video gaming, etc.
  • Manage debt through a small-scale pension bond used entirely to reduce the state’s pension liability.
  • Make the optional retiree “buyout” of the 3% COLA program permanent.
  • Smooth the pension ramp by modestly extending it (re-amortization). The pension payout schedules to lenders would be extended seven (7) years to 2052, by which time the pension fund would be 90% funded.
  • A five (5) percent increase for public universities and community colleges.
  • An increase in the Monetary Award Program (MAP) by $50 million.

While much work has yet to be done to make sure these proposals come to fruition (and there will be compromises made), overall this represents a very hopeful step forward in resolving the underfunding of the state pension system.

There are many moving parts in the above proposals; the fair tax, re-amortization of pension debt, new revenue sources, pension obligation bonds, etc. Should any of these “parts” not materialize, new spending proposed by the Governor will be reduced.

WHAT TO DO:

Continue to read GSU-SUAA Legislative Bulletins and Alerts. The GSU-SUAA Board will monitor proposed legislation on the above items and keep our membership informed.

TIMING:

No immediate action needed.


 
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Posted by on July 11, 2020 in Uncategorized

 

SUAA – Need Something to Read for the Holiday Weekend?

To All SUAA Members!

Many of you have wondered about the fiscal health of SURS. Here is a link to the Commission on Government Forecasting and Accountability’s June 2020 Financial Condition of the Illinois State Retirement Systems.

Also included is COGFA’s June Monthly Briefing.

Please help us out – if you happen to have a change of address, email address or phone number let us know.

Return and forwarding mail is expensive.

Mini Briefings and other communication can not reach you if we don’t have a proper email for you.

Phone numbers are helpful just in case we need to clarify something with you.

We appreciate you keeping us up to date as communication is important. We don’t want you to miss anything!

Linda L. Brookhart, Executive Director
State Universities Annuitants Association

 
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Posted by on July 2, 2020 in Uncategorized