Retirement Systems of Alabama shows earnings growth
MONTGOMERY | The state employees’ pension fund had solid earnings on its investments for the past fiscal year, but the looming “fiscal cliff” in Washington threatens continued growth, the Retirement Systems of Alabama chief executive officer said Thursday.
David Bronner reported 18 percent earnings to the Employees Retirement Systems board on Wednesday. Next week, the RSA CEO said, he plans to report one-year growth of 18.3 percent to the Teachers Retirement System board.
The third component of the RSA, the Judicial Retirement System, had investment growth of 19 percent for the year ending Sept. 30, Bronner said.
“It just means that, in the case of the employee system, it grew by $1 billion,” Bronner said.“What it means is we did well this last year during the turmoil.”
Total Employees Retirement Systems contributions from the state, employees and investments is about $1.96 billion this year, Bronner said.
Subtract payments of $904 million, and the $9.2-billion Employees Retirement Systems net increase was about $1.058 billion.
He said since the growth rate is spread out over five years, it is still being affected by the 30 percent recession losses in 2008.
One of the RSA’s signature investments, a 53-story office building in Manhattan, was flooded in lower floors by Hurricane Sandy a month ago.
The building, known as 55 Water St., was to have reopened on Thursday, but a small fire on Thanksgiving Day and lack of sufficient operating elevators pushed back the re-opening date.
“The storm got it and got all of lower downtown and it’s been out of commission since,” Bronner said.
Recently AARP/AL Advocacy Volunteer Training was conducted. AERA member and chairman of the AERA Legislative Committee, Jack Bradford, also lends his time and talents to AARP Alabama. Also pictured with Jack Bradford is E.W. Phillips of Bessemer, Al (an AARP volunteer).
Alabama – The Make Me State
Dr. Susan Parker is a member of AERA and former elected state official. This article was printed in the Birmingham News, November 28, 2012.
Missouri is known as the “Show Me” state. This unofficial motto came from an 1899 speech by Congressman Willard Vandiver, “I come from a state that raises corn and cotton and cockleburs and Democrats. Frothy eloquence neither convinces nor satisfies me. I am from Missouri. You have to show me.”
Alabama’s official motto is “We Dare Defend Our Rights”. This was inspired by a poem by Sir William Jones entitled, “What constitutes a State?” It says in part: “What constitutes a state? Men who their duties know, but also know their rights, and knowing dare maintain.” This sentiment reflects love of freedom and independence which are both admirable values for a state to espouse. It is this independence, however, when taken to the extreme, which has often put Alabama in the national spotlight— and not usually in a positive light.
AERA member and Talladega County REA President, Mrs. Nancy Lehe, center, is presented the prestigious AARP State Andrus Award for 2012 from Anne Hails, AARP Associate State Director, Community Outreach, left; and Gwen Lipscomb, AARP Alabama Executive Council Member. This award is presented to individuals who significantly enhance the lives of people age 50 and older through volunteer service. Each year, AARP selects one person from each state to receive this award. Congratulations to Mrs. Lehe from the AERA Family!
NRTA and AARP Opportunity to Honor Volunteers Deadline January 31, 2013
Local unit leaders, A member of your local unit performs endless hours of community service in the community. This is an easy to complete form and is a wonderful way to say thanks to one or more of your valuable volunteers.
NRTA Shares Ways to help the victims of Superstorm Sandy
From the AARP Foundation:
Help the victims of Superstorm Sandy
To donate to the AARP Foundation Disaster Relief Fund, please go to: www.aarp.org/disasterrelief.
Sadly, the impact of Sandy continues to increase as news agencies report it as one of the biggest and most devastating "superstorms" ever to hit the United States. In the states most severely impacted, more than six million AARP members, their families and neighbors are struggling to recover from the storm's impact.
AARP Foundation has created a relief fund to support the victims devastated by Superstorm Sandy. Working with local AARP State offices we will direct funds to organizations providing relief and recovery support to disaster victims.
Due to the overwhelming response to help the victims of Superstorm Sandy, AARP and its affiliates have increased the dollar-for-dollar match commitment up to $750,000. 100% of all funds raised will be used to help the victims of this disaster.
Please make a generous gift today to support Superstorm Sandy relief and recovery efforts.
From the New York State Retired Teachers Association:
Please click here for a detailed letter about the efforts of NYSRTA to set up a relief fund.
In the aftermath of Hurricane Sandy, we see the widespread damage caused by this once in a lifetime storm. I ask each of you to reach out to your neighbors, families and friends that have been impacted. The NYSRTA Friendly Service Committee will try to help but we cannot do it alone. It will take all of us working together to help those in need. Many areas throughout NYS have been devastated by the impact of this storm. We know that many communities have been hard hit. There are many people without electricity, homes and businesses washed away, major flooding, trees down, and even loss of life.Elected officials, both on the State and Federal levels, are working together to bring relief to those hard hit areas. The NYSRTA Friendly Service Committee would also like to help in the relief effort.
- Nominations & Elections Committee
- AERA Members Participate in Silver Haired Legislature
- PEEHIP announces changes to Medicare Part D
- AEA opposes amendment removing racist language from Ala. Constitution
- Message from Dr. Henry C. Mabry, AEA Executive Secretary
- The October 2012 Issue of The PEEHIP Advisor