*Direct deposit notice or check stub will be mailed to all benefit recipients.

You will receive a check stub whenever there is a change to your benefit, such as health care premium change, a tax withholding change, or a bank account change.

SERS strongly encourages all retirees to have their pension payments paid directly to a bank or credit union. Direct deposit of your funds is the only way to assure that your payment will be available on the first of every month. Direct deposit eliminates any concerns about late, lost, or stolen checks. Since pension checks cannot be forwarded, direct deposit also eliminates delays when you travel during retirement. It is your responsibility to make sure the funds are in your account before writing checks against your account.

If you do not enroll in direct deposit, there is no guarantee that you will receive your payment right on the first of every month. Delivery delays might occur that are beyond SERS’ control, such as lost or stolen checks. You must wait 10 days after the expected delivery date before SERS can begin the process of stopping payment and issuing a new check. This delay will not occur if you have direct deposit.

The phishing emails state they are from a U.S. federal government agency and reference the Affordable Care Act in the subject line. The email claims to direct users to health care coverage information, but instead directs them to a site that either asks for personal information or installs malicious code.

The US-CERT is encouraging all users to protect themselves by taking the following steps:

• Do not follow links or download attachments in unsolicited email messages.
• Maintain up-to-date antivirus software.
• Refer to the Avoid Social Engineering and Phishing Attacks Security Tip for additional information on social engineering attacks.

If you receive a suspicious email related to this campaign, be sure to report the incident to appropriate parties within your organization and notify US-CERT.

Donating is easy, not to mention rewarding. Just ask Michael Zapata, who was recently inducted into the national Donation Hall of Fame. Zapata has committed to saving lives for over 20 years. He takes four buses from his home to the donation center so he can donate platelets every two weeks.

Want to help? Once you have determined that you are eligible to donate, search for a date and location that are convenient for you by using this helpful tool on the Red Cross’s website.

Donors can donate whole blood every 56 days, platelets every 7 days, plasma every 28 days, and double red cells every 112 days.

The American Red Cross recognizes SERS as a Gold Level Sponsor for holding five blood drives each year. In 2014, the Red Cross received 98 units of blood from our blood drives thanks to the generosity of our employees, building tenants, and nearby businesses.

Join SERS in its commitment to help save lives. Donating blood helps ensure there is an adequate supply when needed, and is especially crucial during these harsh winter months.

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As a reminder, you can access your 1099-R form through your online account. The 2014 1099-R forms are now available online.

If you have not set up an online account, doing so is easy. Go to our Member Login page and click on “Register." Then, simply follow the set-up instructions.

Once your online account is set up, you will be able to access your SERS account information, including your 1099-R forms.

The Equal Treatment of Public Servants Act would help prevent this situation from happening to others. The bill would repeal the WEP and guarantee that public servants receive the benefits earned while paying into Social Security. Public servants who turn 62 on or after Jan. 1, 2017 would benefit from the new Public Servant Fairness Formula.

Read the full Humble Observer article here.

A 2008 NIRS report, entitled A Better Bang for the Buck, found that DB pension plans are more cost-efficient than even the most ideal DC plan. Since the original study, efforts have been made to improve DC plans by decreasing fees, converting DC account balances into a lifetime stream of income, and increasing the use of target asset allocation funds (gradually and automatically shifting an individual’s asset allocation based on their age and estimated retirement date).

Taking into consideration these changes to the DC model, DB plans deliver the same level of benefit to employees at about 48% of the cost of a DC plan. This is compared to a 46% savings in 2008. Despite notable improvements to DC plans, DB plans provide even more cost savings than they did six years ago.

The study finds that DB plans have three unique features that drive cost savings: longevity risk pooling (placing all contributions into the same pool of assets based on average life expectancy), maintaining a well-diversified portfolio over time, and higher investment returns due to lower fees and professionally managed investments.

NIRS also finds that, because of the significant cost advantages of DB plans, transitioning to a DC plan at the same contribution rate would greatly reduce retirement income.

Download the full report here.

Source: National Institute on Retirement Security

NCPERS and Cobalt Community Research surveyed 187 state, local, and provincial public pension funds throughout the United States and Canada. Of those, 81% were local pension funds and 19% were state pension funds. Respondents’ confidence in their system’s ability to address future retirement trends and issues increased to 7.9 on a 10-point scale, up from 7.8 in 2013.

Other major findings from the survey include:

• Funding levels increased from an average of 70.5% in 2013 to 71.5% in 2014. This was due to two factors: one-year investment returns of 15% and lower amortization periods.
• Funds are experiencing healthy one-, three-, five-, and ten-year investment returns, as a result of more stringent investment practices and control of costs.
• Public funds are becoming more cost-effective.
• Funds continue to adapt to economic, environmental, and political changes to ensure sustainability.

We will be holding another session on Thursday, March 12, from 1 p.m.-4 p.m., at the SERS headquarters, 300 E. Broad St., 43215, in Columbus.

Please register online by clicking here, or by calling 614-222-5814. The session is free, but space is limited.

According to the National Education Association (NEA), ESPs comprise 40% of the total K-12 education workforce. ESPs are committed to their careers and the safety of the students. Some key findings of a recent NEA survey of ESPs:

• They average 11.5 years in the ESP workforce, and 67% plan to stay in their current position.
• They have an average of 10.8 years with their current employer.
• 59% have witnessed bullying behavior. Of those who have witnessed bullying, 89% have stepped in or tried to stop it.
• 45% have witnessed school violence. Of those who have witnessed school violence, 85% have stepped in or tried to stop it.

ESPs are often the first and last faces students see each day. Could you imagine a day without the education support staff in schools? Take a look at this moving video from the NEA, which will give you a glimpse of what a day would be like without the people who help keep our schools running and our students safe.

To our members and  retirees, and all education support professionals – thank you for your service to our schools and all you do.