Welcome to April!

For Your Information!

Welcome to the April Newsletter - For Your Information - for The Androscoggin Retired Teachers Association. We have made a few changes with this publication.  With this edition, we add our featured writers - Crystal Ward and Mona Erving!  Welcome!

Androscoggin Retired Educators Association - AREA

Newsletter Notes!

I hope you like the format, and will feel free to contribute to your newsletter.  You can send contributions to me by emailing them to - area@mainenet.org  or  rfuller@mainenet.org

Legislative Update

by

Crystal Ward

Maine’s Legislature has closed due to the Covid19. All bills are on hold, the follow up on LD 178 the bill to increase the state share of Health Insurance from 45% to 55 % is : “John Kosinski tried to get it passed but the Republicans in the Appropriations and Financial Affairs Committee(AFA) would not agree. So the bill stayed in the AFA committee. I pushed but there was a reluctance to do anything too partisan and the Republicans objected.” At this point, the bill will stay in AFA until they return. Regardless, I will be sure to stay on top of it and pass info as soon as possible.

In Washington they passed a $2 Trillion relief package and Retired making up to $75,000 gross adjusted income will receive $1200 per person. The first to receive (April 10) will be those who filed Federal Income taxes and have their refund send electronically to their bank. Those who receive by check will take longer. If you do not file Federal income taxes and do not get Social Security you still qualify but will have to go to the IRS website(or call) for instruction on how to file.
The US Congress is not in session so no action on the Social Security Offset bill.
If you need help during these Stay at Home times call 211 they can help you !!
Stay Safe , call your doctor if you are sick. Remember to drink water throughout the day ....................

SCAM Alerts

by

Mona Erving

When you send money to people you do not know personally or give personal or financial information to unknown callers, you are a victim of telemarketing fraud.

Here are some warning signs of telemarketing fraud -what a caller may tell you:

“You must act NOW or the offer won’t be good.”

“You’ve won a FREE gift, vacation, or prize. But you have to pay for postage and handling or other charges.”

“You must send money, give a credit card number or a bank account number, or have a check picked up by a courier.

“You don’t need to check out the company with anyone.”

“You don’t need any written information about the company or any references.”

“You cannot afford to miss this HIGH -PROFIT, NO RISK offer.”

If you hear these or similar lines hang up the phone.

Tips to Avoid Telemarketing Fraud:

Do not buy from an unfamiliar company.

Always ask for and wait to receive any written material with any offer or charity. Also, be aware, not everything written down is true. Feel free to contact the Better Business Bureau, consumer protection agencies, or other watchdog groups.

Obtain a salesperson name, business identity, telephone number, business street address, mailing

address, and business license. If this information is not forthcoming hang up.

Before you give money to a charity or make an investment find out what percentage of the money is paid in commissions.

Do not pay in advance for services – only after they have been delivered.

Be wary of companies who want to send a messenger to your home to pick up money. A reputable company does not offer this “service”.

Never respond to an offer you do not thoroughly understand.

Never send money or personal information to unfamiliar companies or unknown persons.

If you have been victimized once, be wary of persons calling to offer to help you recover your losses. This could be the scammers attempting to get more money or information from you.

Always take your time in making a decision about money. A legitimate company will not pressure you into making a snap decision.

If you have information about a fraud report it to local, state, or federal enforcement agencies

Registering Your Motor Vehicle Registration During the COVID-19 Outbreak

You may use an online service to pay to renew your motor vehicle registration and pay your local exreacise tax. This service is provided by a third party working in partnership with the State of Maine. Fees may be included in the cost of this service. You will need your current vehicle registration, your insurance card, and your vehicle’s current mileage.

To use this service go to : http://www1.maine.gov/online/bmv/rapid-renewal. Once at the site follow the prompts for vehicle renewal.

To our Members and Retirees From MainePers 

THANKS to Crystal Ward

We continue to hope you and your family are safe and healthy. We are updating this section of our website with the questions most frequently asked by our members and retirees.

Thank You for Your Patience as We Practice Social Distancing.

Thank you for your patience as we do our part to stem the spread of the coronavirus. Our offices will remain closed to the public through May 15th, or earlier if circumstances allow. The best way to get an answer to your question is to send an email to info@mainepers.org. Please include your name and phone number, but do not include your Social Security number in your message. If you are unable to email, please call us at 207-512-3100 and leave your name, phone number and a very brief message. Shorter messages allow more members to leave messages in our inbox and help us to respond more efficiently to member and retiree needs. Thank you so much for your patience and assistance.

Does the Market Volatility Change My Retirement Check?

Your monthly retirement payment does not change with market volatility. Your benefit is fixed when you retire, and is increased after that by cost-of-living adjustments (COLAs). The way your COLA works depends on which MainePERS defined benefit retirement plan you are in. More information on how your COLA works can be found here.

MainePERS defined benefit plans are pre-funded. That is, money is set aside in a trust fund today to pay your benefit in the future. Currently, all of the pension plans MainePERS administers are pre-funded at 82% or higher, which place our plans as some of best funded public plans in the country. While we are always working toward having our plans 100% funded, market ups and downs do change the pre-funding level of the plans. Market downturns such as the one we are currently experiencing do not change our ability to pay your retirement benefits. Your benefits will continue to be paid.

Market gains and losses do affect your 457, 403b or other defined contribution plan balances. We encourage you to seek the assistance of a professional advisor before withdrawing funds or changing your asset allocation in your defined contribution plan in a market loss situation. If you are a participant in one of our MaineSTART defined contribution plans, please submit any questions to info@mainepers.org.

Tax Filing Deadlines Extended

The State of Maine and the federal government have both extended tax filing deadlines to July 15, 2020. Please call 512-3100 if you have not received your 1099 and we will reissue it to you. We have found people may have confused our 1099 for junk mail, so please watch your mail carefully for a perforated document that states “Important Tax Information” if you have asked us to reissue your 1099.

Federal Stimulus Program

MainePERS retirees are eligible for federal stimulus programs rebates. Anyone who files a tax return will get a payment automatically if eligible based on income. All non-filers are strongly encouraged to use the IRS new web tool instead of waiting: https://www.irs.gov/coronavirus/economic-impact-payments.

AREA MEETINGS

May 7, 2020 MEA-R STATE CONVENTION - AUGUSTA CIVIC CENTER

Changes to the Newsletter - FYI

So, we've made a few changes. 

You will receive a newsletter in the middle of every month, except December and January. 

Crystal Ward will write a column on Legislative Updates.

Mona Ervin will write a column on SCAM Alerts and AARP Updates.