RETIRED TEACHERS’ COLA RESTORED BY 2021 LEGISLATURE
FOR FIRST TIME IN 12 YEARS!
RETIRED TEACHERS’ COLA RESTORED BY 2021 LEGISLATURE, FOR FIRST TIME IN 12 YEARS!
In response to this change, IRTA commissioned an actuarial study to review the effects of the change from a "13th " check and the new COLA. The results found were that the "13th" check was more beneficial to retirees than the COLA increase.
- 45,800 of the total 60,500 retired educators have an average monthly pension of $2,000 or less each month. So if we do the math, 1% of $2,000 is $20 increase each month or $240 for the year. This is less than the "13" check amount we have received over the last several years.
- 31,000 of the total 60,5000 retired educators have an average monthly pension of $1,500 or less. The 1% COLA then calculates to just a $15.00 increase per month or $180 for the year. This again is less that the "13th" check we received the past several years.
BARTA Legislative Chair John Quick and the 2021 Legislature
“The big takeaway from the legislative session for us is that COLA (Cost Of Living Allowance) has been reestablished. We haven’t seen COLA in our pensions for more than a decade. The COLA is only 1%, but this is better than a 13th check as we get the compounding effect year after year. We have long lobbied for COLA and it initially appeared it was unlikely to happen this year. However, a sudden influx of $2 billion of unpredicted revenue materialized.
Senator Everett Dirkson once said, “A billion here, a billion there and pretty soon you are talking real money.” A few billion dollars of federal stimulus money came our way and it had the effect of helping the state revenue to a tune of a few billion more than the December projections. All session the majority party kept telling the minority party that they had good ideas, but “we just don’t have the money.” And then, when we suddenly had the money, it created probably the best budget in memory. That is evidenced by the fact that only five of the 150 legislators voted against this amazing budget. Most generally the minority party votes no.
In a macro sense the legislature puts about a billion dollars a year into the pension fund. Remember, the Teacher Retirement Fund (TRF) and the Public Employee Retirement Fund (PERF) are now under the same umbrella. About a half a million Hoosiers fall under this umbrella, including legislators should they be vested with 10 years of tenure. We saw an additional $400 million from the unexpected revenue directed toward reestablishing the COLA. The pension fund is solvent and we should see it nearing the $40 billion range in a few years. This is important to note because our pre-1996 retirement colleagues had no real money in the bank to support their pension. They were dependent upon the legislators to guess how much money would be needed each biennium.
About a billion new dollars were directed toward K-12 public education. Locally BCSC will get 4.4% the first year and 3.2% the second year. That is a little less than the 4.5% each year that you may be reading about for districts across the state. This increase comes with a caveat that at least 45% of the dollars are to be directed toward teachers’ salaries and that the beginning teacher salary be at least $40,000. BCSC will meet this expectation.
Come Join Us! We are looking for you
BARTA members Larry Klebenow, Jon Moore and Linda DeClue enjoy the lunch at Four Seasons.
Is there anything better than getting together with old friends and colleagues? Well, maybe, but seeing those folks with whom we can share our stories or who remember those extraordinary students and school events is very special. BARTA offers friendship and fellowship that grows from our past but connections and programs that keep us up-to-date with education and community matters.
Membership in BARTA is open to any current or former teacher or school administrator and their spouse.
The membership fee is only $10 per year. In August of each year BARTA sends a newsletter to current and prospective members, and included is a membership card that can be completed and returned so we can add new members to our roll. If you are not now a member but are interested in attending a meeting or receiving the August newsletter, just complete the Contact Form on the Resources & Contact page of this website. You may also call 812-372-7458.
Membership in BARTA is open to any current or former teacher or school administrator and their spouse.
The membership fee is only $10 per year. In August of each year BARTA sends a newsletter to current and prospective members, and included is a membership card that can be completed and returned so we can add new members to our roll. If you are not now a member but are interested in attending a meeting or receiving the August newsletter, just complete the Contact Form on the Resources & Contact page of this website. You may also call 812-372-7458.
Please consider joining BARTA. It's easy, fun, and inexpensive, four times a year.
BARTA MEMBERSHIP MAY BE OPEN TO YOU
BARTA is an organization with a broad outreach among retired teachers, school administrators, and their spouses and companions. Our 290-member roll includes people from Bartholomew County and the surrounding counties of Brown, Decatur, Jackson, Jennings, and Johnson counties. Loyalty to and support for our public school systems and BARTA have also prompted memberships from folks now living in Arizona, California, Florida, Pennsylvania, and others.
The general membership of BARTA meets four times per year, September, November, March and May, for lunch and a program, followed by a business meeting. Generally the meetings last about 1 1/2 hours so that folks can be on their way by 1:00 pm.
The general membership of BARTA meets four times per year, September, November, March and May, for lunch and a program, followed by a business meeting. Generally the meetings last about 1 1/2 hours so that folks can be on their way by 1:00 pm.
For only $35 per year, your membership adds strength in numbers to the Association when we lobby on behalf of Indiana's retired teachers to the state legislature for a cost of living (COLA) to pensions and a one-time payment (13th check) to retirees. By joining, you help to:
Join your fellow retirees today! The membership form is available on the IRTA website: http://portal.retiredteachers.org/cgi-bin/register.pl For more details, go to https://www.retiredteachers.org/membership/ OR for more info about benefits, go to http://www.retiredteachers.org/benefits |
Benefits can more than pay for your $35 IRTA membership: AMBA Benefits for IRTA Members Personal security: Life Alert services Insurance: Dental; Vision; 1st Diagnosis Cancer; Medicare Supplement; Medical Air Services; Long Term Care; Short Term Home Health Care; Whole Life; ID Protection; Auto; Home Dining: Discounts for area restaurants Travel: Inscribe Africa, Orlando Employee Tickets, TravelPerx, Road Scholar, Government Employee Travel Electronics: Apple products; Dell products Lifestyle: 1-800-Flowers Investments: Tax-Deferred Annunity Other Discount Providers Hotels: LaQuinta Inn Rental Cars: Hertz, Budget and Avis Phone Service: AT&T; Verizon Insurance: MetLife; VPI Pet Insurance Security Service: Life Alert, Identity Theft Protection Home and Health Aids: Hear in America, Premier Care in Bathing Airport Parking: Fast Park & Relax Realty Services: Homes for Heroes For more information, go to https://www.retiredteachers.org/member-benefits . |
In Meroroium
mEMBERS WHO PASSED IN 2020-2021
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THE ANGELS
THE ANGELS LOOKED DOWN FROM HEAVEN ONE NIGHT. THEY SEARCHED FOR MILES AFAR, AND DEEP WITHIN THE DISTANCE THEY COULD SEE A SHINING STAR. THEY KNEW THAT VERY INSTANT THAT THE STAR WAS THEIRS TO GAIN, SO THEY TOOK YOU UP TO HEAVEN, FOREVER TO REMAIN. LOOK DOWN ON US FROM HEAVEN. KEEP US FREE FROM HURT AND PAIN. YOU'LL ALWAYS BE WITHIN MY HEART UNTIL WE MEET AGAIN. Norris Moore
Don Reed Mary A. Clark Phyllis Baker Paul Riddle Raymond Jones Ellen Hughes Ruth Hamilton Willis Hagan Wallace Cantrell Jo Ann Cline Donald Delaney Kenneth Tull Dennis Sylvester Reta Mae Slaughter Norman Lewis Bill Mihay Shirley Thickstun Jewel Fleetwood Raymond Betz Bob Welsch Tim Voorhies |
Lydia Bohn Donna Ostrick Nancy Whitaker Robert Sprague Jewel Fleetwood Dale Stelting Robin Whited Gary McBride Nancy Battleson Barbara Johnson Doris Hoffman Margaret Stephens Harold Whishon Thomas Byers Joann Scrifres Betty Welch Carole Goshorn Hal Driver, Jr. Anne Hoffman Marie Clouse Linda Boyte White |
in memory of our friends and colleagues who passed in 2019-2020
Norris Moore Don Reed Hal Driver, Jr. Anne Hoffman Marie Clouse Linda Boyte White Lydia Bohn Donna Ostick Nancy Whitaker Robert Sprague Dale Stelting Robin Whited Gary McBride |
Nancy Battleson Barbara Johnson Doris Hoffman Margaret Stephens Harold Wishon Thomas Byers Mary A. Clark Phyllis Ann Baker Paul Riddle Raymond Jones Ellen Hughes Ruth E. Hamilton Willis Hagan |
