Michael S Hebel SFPOA Welfare Officer
RETIREMENT BOARD ELECTION
Police Officer Brian Stansbury is running for the Retirement Board commissioner seat just vacated by retired Captain Al Casciato. Al served with dedication and distinction for over 20 years. His was an active member’s seat; his retirement created a vacancy. The POA, Firefighters Union (local 798), and the Veteran Police Officers’ Association, along with commissioner Joe Driscoll and Al Casciato, have recognized Brian’s professional investment experience and are endorsing him for this Retirement Board seat.
LONG TERM CARE INSURANCE
Q. Mike, I am a married, retired member – age 60. I am considering purchasing long term care. What is your recommendation?
A. I must first tell you that my wife and I have long term care insurance purchased through the Public Employees’ Retirement System’s long-term care program. I purchased it right around your age. I am not sure that I could get the coverage now and, if I could, the cost would be considerably higher.
Q. Mike, I am a Tier I retiree and I have left my monies in my deferred compensation plan. That is, I have yet to begin to receive distributions. My wife would like to begin to use this money and I think it is probably time to do so. I plan to withdraw about 4% to 5% per year for the next several years. I have 50% of my money in stable value and 50% in stock portfolios. What do you think will be the return on stocks over the next decade?
SUPPLEMENTAL COLA APPROVED
Q. Mike, in the August 2010 POA Journal you wrote that the Retirement Board would determine, at its December meeting, if a supplemental COLA (Cost of Living Allowance) would be paid for fiscal year 2010-2011. What happened?
VOTERS TROUNCE PROPOSITION B! AN ADACHI COMEBACK?
Q. Mike, as a Tier II (New Police Plan) member, I was elated to see Proposition B (the Jeff Adachi initiative petition) soundly defeated. Is it likely that Adachi will try again in 2011?
THE SUSTAINABLE CITY EMPLOYEE BENEFITS REFORM ACT
Q. Mike, did the Adachi Petition gather enough signatures to be placed on the November 2010 ballot?
ASK MIKE…THE RETIREES’ CORNER
Q. Mike, I have 27+ years of service and would like to enter DROP. But my optimal time to enter is in 2012. Will this program be extended beyond June 30, 2011?
THE GREAT RECESSION HAS ENDED!
