News

9th Annual RPEA Golf Tournament!!!

The 9th Annual RPEA Golf Tournament to benefit the "Friends Funs" is scheduled for July 15, 2008.  For more information and to download a registration form please click here

 

RPEA Fights Misinformation about Retiree Health Insurance Bill

ALBANY--- The Retired Public Employees Association, speaking on behalf of public service retirees across the State, wants to set the record straight over recently published misinformation concerning the New York State Legislature’s intent to examine health insurance issues for retired governmental employees.

Stan Winter, RPEA President, stated “both houses of the Legislature, led by Senator Farley and Assemblyman Abbate, have introduced bipartisan legislation which recognizes that adequate and affordable health insurance coverage is a vital issue for over a half million retired public employees and their dependents.  These taxpaying New Yorkers dedicated their working lives to the service of the people of this State and must not be abandoned now that they are in their later years and existing on mostly fixed incomes.”

Recent articles, fostered by the NYS Association of Counties and the Manhattan Institute,  see the plight of these senior citizens as an easy opportunity for their own political ends.  They state that the legislation would guarantee perpetual free or nearly free health insurance benefits and would prevent economies at the state and local levels of government.  Mr. Winter pointed out that a reading of the bills (S6457-A/A9393-A) hardly calls for that sort of rhetoric and makes him wonder why these self anointed experts would make such a misrepresentation.

These bills simply do two things. First, they call for the establishment of a broad based and expert task force to carefully study and recommend cost effective ways of dealing with a complex issue facing governments at all levels.  Secondly, they provide a one year moratorium prohibiting diminishing the health insurance benefits provided to public service retirees or the contribution towards such coverage below that provided to active employees.  In other words, governments would not be precluded from reducing overall health insurance costs.  They would simply be required to provide fair and even handed treatment for all.

These bills clearly do not conjure up some kind of sweetheart deal such as the golden parachutes we hear of in connection with corporate executives.  They simply call for careful review, analysis and recommendations for cost effective solutions – steps that are essentially good government and that should be embraced by state and local government

officials.

 

Albany Times Union Editorial – Pension Priorities,  Despite broad support for the reform -- known as the Forgotten Mommies Bill -- the measure remains stalled in a committee. The Senate is a different story, having twice voted to grant these women Tier I status. Click Here to read

 

New York Post - Citing a growing budget deficit, Gov. Paterson yesterday warned powerful labor unions and their legislative allies that he'll fight any attempt to raid the state treasury this year.  Click Here to read

 

Rochester Democrat and Chronicle Editorial - N.Y. lawmakers must reject protective measure on retirees' health benefits. They're being stuck with the tab for retirees' health costs  Click Here to read

 

The New York Times News about retirement, including commentary and archival articles published in http://topics.nytimes.com/top/reference/timestopics/subjects/r/retirement/index.html

 

The Odds for a Retirement Nest Egg, Recalculated

CONVENTIONAL wisdom recommends that investors start with a high allocation of stock in their portfolios when they are young and reduce it as they approach retirement. That makes intuitive sense: In your 20s, you may be inclined to take bigger risks; in your 60s, you may feel a greater need to protect the wealth you have been able to amass. But a recent study of real-world portfolio returns, which fluctuate significantly from month to month and year to year, has found that there is no particular advantage in this approach. You would do just as well, with no greater odds of doing poorly, by simply picking an allocation of stocks and bonds that you can live with for a long while and sticking with it. Click here to read more.

Graying and Affluent Market is Booming, Warming to Internet Shopping
In the more than 80 metropolitan markets surveyed by The Media Audit, a recent study shows that those who are over age 50 with incomes of $50,000 or more (the "graying and affluent") have increased from 17.0 million in 2004 to 22.3 million during the past five years.
Collectively, the markets surveyed have an adult population of approximately 142 million, according to a report in the Research Brief from the Center for Media Research. Click here to read more.

Retirement Market Booming, Boomers to Keep It Hot for Decades
The status and demographics of retirees are changing so fast that marketers almost need a monthly snap shot. In the U.S., 17.9% of adults are now retired, according a recent report by The Media Audit. But, that number has increased by 6% in just the last five years. It will climb even faster as the Baby Boomers exit the workforce. Click here to read more.

Retiring Baby Boomers Much More Traditional Than Many Have Assumed
Most baby boomers that will turn 62 this year report that they are retired or will be fully retired by age 65, that they’ll collect Social Security by age 65, that they’ve been married only once and that they have 2.4 children on average. Of those who have children, 78% have grandchildren (66% of total). Conservatives outnumber liberals by two to one. Click here to read more.

RPEA presented the Business and Labor Coalition of New York (BALCONY) during a roundtable on February 26, 2008, with our position concerning SENIORS and HEALTH CARE REFORM in New York State. RPEA is your voice to address senior and retiree issues. BALCONY “seeks common ground” and provides us with a forum to a wide range of organizations that would not otherwise obtain information that reflects the diverse viewpoints of our membership.

Although seniors are losing coverage and going into medical debt, most health care reform proposals do not even mention them. Reform should help seniors replace the supplemental coverage being lost, so that they can once again afford to seek the treatments that they need. To read the full position click here:

Are YOU getting the Latest Retirement News? If you have not yet signed up for *E-News*, it's not too late. E-News is the Retirement System monthly newsletter sent via e-mail to keep you informed about the latest happenings in the Retirement System. It is easy to sign up and join the more than 16,000 members who already receive this free information update. Just go to the website, then fill out and submit the online e-mail address registration form. Click Here to register.

State Announces New Consumer Website to Help New Yorkers Find Least Expensive Prescription Drugs- The Search NY Drug Prices website searches drug prices by zip code, city, or county; provides brand-name and generic drug prices; lists pharmacies’ addresses and phone numbers; and provides driving directions. It was developed and will be maintained by the Department of Health. http://www.rx.nyhealth.gov

2008 Preferred Drug List Updates

The 2008 Empire Plan Preferred Drug List (PDL) has been updated to reflect that Proventil HFA will continue to be covered as a preferred brand-name drug under the Empire Plan Prescription Drug Program. http://www.cs.state.ny.us/ebd/ebdonlinecenter/prefdrug/class_order_08.cfm

As of January 24, 2008, Zyrtec and Zyrtec-D (generic name cetirizine) is available over the counter without a prescription. Generic cetirizine is also available over the counter in various strengths and forms.
Effective January 25, 2008, Zyrtec and Zyrtec-D are no longer covered drugs under The Empire Plan.

Drugs used for cosmetic purposes: The Empire Plan prescription drug program excludes coverage for prescription drugs used for cosmetic purposes. Effective January 1, 2008, UHC/Medco, the insurer/administrator of The Empire Plan prescription drug program will not cover prescriptions for *Renova*, *Vaniqa* or *Solage*. According to UHC/Medco, the Food & Drug Administration has only approved these drugs for treating cosmetic issues (i.e., wrinkles, unwanted hair growth and hyperpigmentation).