Retired Employees Association of Orange County
REAOC Board Welcomes You!
Pictured Left to Right: Co-President Doug Storm, Sharon Sedgwick, Co-President Linda Robinson, and John LaRoche
Board Watch Committee
In the News
HOLIDAY GREETINGS FROM REAOC
Many retirees enjoyed another wonderful holiday luncheon on December 3, 2014. It was so nice to see so many of you at the luncheon as we enjoyed the wonderful company of our fellow retirees, the fantastic meal, and, of course, the great musical entertainment provided by the Harbor Singers.
For those who attended the luncheon, you probably saw the photographer snapping photos to capture the merriment of the event. As promised, we are sending you a link of these photos so that you may share in the memories of the occasion. For those who were unable to attend the holiday luncheon, the photos will give you a chance to see your fellow retirees who were able to attend. Please click on the link below to see the pictures that were taken.
At this time we wish you all happiness and health as you and your loved ones enjoy the holidays and the magic of the season. We want to thank you for your continued membership, support and participation in REAOC. We hope you will join us at the next luncheon on Wednesday, January 28, 2015 at the Mile Square Park banquet facility. Please read the January/February 2015 edition of the Informer for more details about the next luncheon.
REAOC’s Hemet Chapter will hold its next luncheon on Tuesday, February 10, 2015 at 11:30 AM at the First Presbyterian Church located at 515 E.Kimball in Hemet. The cost is $9.50 per person. Make your reservation by calling Jeri Maupin at 951-672-4594 or Joyce Emery at 951-658-2549.The Hemet Chapter would like new members and all REAOC members who live in the area or within driving distance to join them for the luncheons.
News, week of December 8, 2014
Congress considering allowing some pensions
to be cut for existing retirees
The Washington Post reports that Congress is considering legislation to allow benefits to existing retirees to be cut in what are called multi-employer plans. According to the story, multi-employer plans are formed by businesses and unions that join together to provide pension coverage, and many such plans are significantly under-funded. (More)
Machinists Slam Congress Over Sneak Attack
on U.S. Pension Law
Calling it a stunning betrayal of America’s highly vulnerable retiree population, the International Association of Machinists says consideration by a lame duck Congress to alter the Employee Retirement Income Security Act (ERISA) is a declaration of war on retirees by Congress. (More)
Congress passes multi-employer
pension plan reform
Calling it “Solutions, not bailouts” language is included in the House version of the $1.1 trillion federal budget that permits trustees of these private sector plans to cut benefits for existing and future retirees in order to make them solvent. (More)
Birth of 401k model in 1978
killed off pensions
When President Carter signed federal legislation in 1978 creating the tax deferred pension savings plan known as the 401(k) few realized that many employers would see this approach as a way to contain their pension costs by moving employees from a company proved secure plan to this uncertain savings model. (More)
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Santa Ana, CA 92711-1787
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