In this Email:

• Evaluation Forms Indicate Overall Satisfaction with VRTA
• Today’s Interest Rates (a of 06/06/2022)
• Should I consider an Annuity in Retirement?
• Vote in the Primary Election
• Membership Report
• Important VRTA Dates to Remember

June 2022

A Message from the VRTA President

In liew of this month's president's message, Jean Marrow, resident-Elect has submitted this months article. Please see the "Evaluation forms Indicate Overall Satisfaction with VRTA" article below.

Glenn Pair, VRTA President

Evaluation forms Indicate Overall Satisfaction with VRTA

“Very Satisfied” was the top choice for all questions posed to members on the Evaluation form of the Spring Delegate Assembly. However, there were suggestions. We realize there is definitely room for improvement and we are dedicated to achieving that goal.

The Planning Committee appreciates all the suggestions for future sessions. Topics of interest include, Home Safety, Healthy Meal Planning, Brain Matter, Movement and Fitness, AARP Program, History of VRTA, Travel, Caregivers’ Resources and Container Gardening.

There were several general comments made on the Evaluation Form that are important. Some of the members appreciated the large group sessions and the breaks. They liked not feeling so rushed. Other members indicated that they miss the breakout sessions. It was also suggested that we include more door prizes. Comments were made about Head Table protocol and politics. Members that attend VRTA State Conferences, that are not on the Board of Directors, have no planned activities on the morning of the first day. It is suggested that we plan an event for them. Also, a member that attended the VRTA Conference for the first time thought the Spring Delegate Assembly was well planned.

The VRTA Legislative Session focuses on nonpartisan politics. The objective is to educate members so that they can make informed decisions. Senator Ghazala Hashmi, the presenter, serves as the Chair of the Senate Subcommittee on Public Education. Her legislation (SB 667) has led to data to expand access to financial aid and work/study programs for Virginia student interns.

Among the recommended changes, members suggest that the schedule of events be posted prior to the Conference and that we include mingling activities. Menu choices were also mentioned. 

The Executive Committee meeting is scheduled for the evening of the first date of the conference. The agenda could be published on the VRTA website in advance of the meeting. Some of the suggestions for “mingling” could possibly mean an increase in the registration fee. Finally, the menu choices are dictated by the hotel. We pledge to work toward recommendations that are feasible.

Volunteers who signed up for specific committees have been assigned. Those of you who had no specific committee in mind will be contacted.

Jean Marrow—VRTA President-Elect

Phone: 804-350-7719               Email: marrow.j@aol.com

Today's Interest Rates as of 06/06/2022

3 year period - 3.30% APR

5 year period - 4.05% Avg APR

6 year period - 4.15% Avg APR

(rates subject to change without notice, to verify rates: 540.722.2529 or 800.467.5425)

Rates offered by Delaware Life Ins Co. Pinnacle Series MYGA (3yr) and Atlantic Coast Life Ins Co Safe Haven MYGA (5 yr) Oceanview Life Ins. Co. Harbourview MYGA (6 yr).

Rates are guaranteed by the annuity contract. Contact agent for details, suitability, minimum premium, and disclosures.

No surrender charge at the end of the guarantee term for full withdrawal.

Should I Consider An Annuity In Retirement?

What is an annuity?  An annuity is a financial product offered through an insurance company that can either serve as a deferred savings vehicle or an income stream depending on the goals of the annuitant.

What are the different types of annuities? There are multiple types of annuities with the primary difference being the method of accumulating interest growth.  Each annuity type has the ability to create a lifetime income distribution if desired by the annuitant, however most annuities do not require you to turn on an income distribution and therefore allow you to continue to accumulate tax-deferred growth instead.  Most annuities, regardless of type, require you to keep the contract in force for a specified number of years or else the annuitant may incur a surrender charge for excess withdrawals.

• Multi-Year Guaranteed Annuity (MYGA):  MYGAs act like a bank CD in that you choose a term (3, 5, 6, 10 year periods for instance) and receive a guaranteed interest rate for that term. There are typically no fees in MYGAs.

• Fixed Indexed Annuity (FIA):  FIAs will typically earn interest based on a security index (S&P 500 index for instance) but growth will generally be limited to an annual cap or participation rate.  Since you are not directly invested in the security index, there is no risk to principal or accumulated growth in most of these annuity types.  There are typically no fees in FIAs unless specific riders are desired.

• Variable Annuity (VA):  VAs are usually directly invested in securities (stocks, bonds, funds) and are subject to market growth and losses just as any other securities portfolio. The difference is that most VAs include M&E (Mortality & Expense) fees and income rider fees that will allow for the death benefit and/or the income benefit to be readjusted for market losses in the event the accumulation value has been reduced by market losses.



• Immediate Annuity (IA): IAs are contracts that create a guaranteed income distribution for a specified period of time, ie. 10 years, 20 years or lifetime.  Once an immediate annuity is under contract, the asset used to purchase the annuity is no longer available for excess withdrawals beyond the income distribution amount.

What is a common way for retirees to use annuities?  Since MYGAs and FIAs offer principal protection plus growth potential, many retirees use these products for the portion of their financial portfolio that they want to keep out of harm’s way.  However, since these products provide limited liquidity (typically 10% annual withdrawal privilege per contract year), it is important to maintain additional liquidity in an external location, such as a bank or brokerage portfolio.

For instance, if a retiree has a conservative risk tolerance, he or she may choose to place 50% - 60% of a household portfolio into an MYGA or FIA and the remainder in a conservatively managed brokerage account or in the bank.  This strategy balances very well the desire for principal protection and growth potential while still allowing for liquidity of funds for emergencies.

Can I use an annuity product with my 401k or IRA?  Yes, annuity products are available for qualified accounts (401k, 403b, IRA, Roth IRA, etc) and well as non-qualified account (savings acct, bank acct) funds.  Note that there are no additional tax-deferral benefits with annuities in qualified accounts as they are inherently tax deferred by their qualified status.

With whom should I discuss my current financial situation to see if an annuity might fit my goals?  Always seek advice from a financial advisor who is a fiduciary and is not just insurance licensed, but also financially licensed.  Creekside Financial Group Inc. is a resource for fiduciary financial advice and investment management.



VRTA Benefits

Call Us Today!! (540) 722-2529

Toll-Free (800) 467 5425

Email: savenow@creeksideadvisors.net

Insurance Advisory Services

• Home & Auto
• Medicare Products
• Long-Term Care
• Life Insurance
• Fixed Indexed Annuities

Financial Advisory Services

• Retirement Income Planning
• Pension Survivorship Analysis
• Portfolio Management



Membership Report: June 2022

The June 2022 membership report in the Creekside VRTA e-newsletter will be the last from me as membership chair. Until the pandemic, the Membership report was not a part of the newsletter, but with local, district, and state units unable to meet in person, the column began to provide ideas and suggestions to local leaders for membership and keeping members connected through virtual meetings, social media, print materials, and more. (As such, the column has been part of the documentation for the two We Care grants that VRTA has received from the National Retired Teachers Association – one grant for ZOOM licenses and a second grant for the website update as well as paying for an additional newsletter.)

At the recent VRTA Spring Delegate Assembly held in May 2022, ideas for membership were compiled at different meetings and are being shared here! 

1. Local units can purchase a paid Facebook ad which targets retired teachers in certain geographic areas for membership (suggested by Jim DuBrueler, Agent of Record; contact him for more info if you need help!)
2. A vinyl decal for car windows to alert potential members that there is a retired educators group in the area.
3. Talk to the division superintendent or HR department to see if the retired educators group can speak at the retirement event, send a letter to retirees through the division about the retired educators group, and/or get addresses of retirees to send out letters from the retired educators group.
4. Ask retired members to share Facebook posts from District or Local units, VRTA, VRS, NRTA with active educator friends so that they know about VRTA and local retired educators groups before they retire.
5. Insurance and benefits available through Creekside are a big selling point for retirees and the $200 for lifetime membership can be easily recouped through for members only benefits. (Jim DuBrueler is working with the Membership committee on a flyer!)
6. Call for an electronic copy or additional copies of the Creekside flyer distributed to all attendees at the spring Delegate Assembly.

Major activities of the membership committee for 2020-22 have been the assignment of ZOOM licenses to District presidents in 2021; a virtual statewide training meeting on how to use ZOOM effectively in October 2021; a virtual statewide informational meeting with Creekside and VRS sessions which would normally be done at the fall and spring meetings in Fall, 2021; sharing information on membership in both the monthly Creekside VRTA e-newsletter and the hard copy VRTA newsletter published twice a year; consultation by email and/or phone for local units and districts with membership questions or concerns. Thanks to all who shared their ideas for keeping members connected!

• Thanks to Creekside for providing the venue to do this column when meeting in-person wasn’t an option! Thanks to NRTA for the We Cares membership grants! Thanks to YOU local leaders who kept members informed and connected during the past two years.

Karen Whetzel, VRTA Vice President/Membership Chair

Phone: 540-740-8589     Email: kswhetzel@gmail.com

Vote in a Primary???

“Vote in a primary? I’m not really a party person, so I never vote in a primary. Besides, that’s for those political junkies who eat, sleep, and breathe politics.” “I just don’t have time to keep up with all that stuff. I live in the real world and most of ‘those people’ don’t. “I’ve got things I have to do every day, and you want to give me one more thing?” “I’m just one person. What difference will it make anyway?”

You’ve all heard these comments, I’m sure, but I hope you’ve never actually said them or even thought them! If we don’t pay attention early when people are showing a desire to hold office or remain in a position and choose good people to be candidates, we can’t expect to end up with good leaders.

Since early primary voting began on May 6, some of you have already voted; however, early voting ends on June 18, and Primary Day is June 21, so you still have time to learn about the candidates in your area and be a part of the process if you haven’t voted. Early in-person voting usually takes place at the registrar’s office or other areas designated by your locality. 

As if voting weren’t sometimes confusing enough with changing voting regulations, etc., now some of you may be in different districts from past years. In some districts, there may not be a primary at all because only one person has declared to be running for a particular office and in some only one party may be having a contested primary.

By now you should have received a letter from your registrar with your voting registration information including your ID number, voting location, congressional district as well as state house, and senate districts and your local district. If you haven’t received this you can always check this information on the Virginia Department of Elections website at elections.virginia.gov or you can call your local registrar’s office. Also, almost any question you may have about elections can be found on this very comprehensive website.

Remember:

• Virginia is an open primary state, so you can vote in the primary of either party regardless of your party affiliation, and you do not have to declare an affiliation.
• It is our duty to be accurately informed voters regardless of the advertising or campaigning of candidates.
• A number of things should be considered when voting in a primary as well as a general election including the character and integrity of candidates and their positions on various issues. It’s risky to base a vote on one thing because when the candidate gets elected, you get the whole package.

Bea Morris - VRTA Legislative Chairperson

Email: beam1340@verizon.net

Important VRTA Dates to Remember

June 15, 2022: Deadline for submitting VRTA Community Service Cover Sheet

June 15, 2022: Deadline for submitting with Our Youth award information to NRTA

June 30, 2022: Deadline for submitting new district and unit officers to the Directory Chair

June 30, 2022: Deadline for submitting Combined Annual Report ONLINE

July 1, 2022: Start date for filing E-POSTCARD

August 1, 2022: Deadline for submitting Nominations for "Most Active Member" award to Community Service Chair (MAM)

August 8, 2022: Deadline to submit Fall Newsletter article to Newsletter Editor, Susan Martin (susanmartin730@gmail.com)

October 17-19, 2022: Fall Conference at The Double Tree

April 17-19, 2023: Spring Conference at The Double Tree

* The Harbourview MYGA (Generic Policy Form ICC19 OLA SPA) Is a single premium deferred annuity. May not be available in all states. AM. Best Rating as of November 18, 2021, subject to change. A- (Excellent) rating is fourth highest of fifteen possible rating classes for financial strength. Policy form numbers and provisions may vary. This material is a general description intended for general public, educational use. Oceanview Life and Annulty Company is not providing investment advice for any individual or in any individual situation, and therefore nothing in this correspondence should be read as such. Please reach out to your financial professional if you have any questions. May not be availlable in all states, Rates are guaranteed depending on the guarantee period selected at policy issue. For clients of our Multi-Year Guaranteed Annuity contract, within 30 days prior to the end of the Initial Interest Guarantee Pericd, we will send you a notification informing you of the date the Guarantee Period is ending and provide the renewal rate and Surrender Charges in effect for the subsequent Guarantee Period. Excess withdrawals are subject to a Surrender Charge and market value adjustments. The IRS may impose a penalty for withdrawals prior ti aRe 59 12. All annuity reatures, risks, limitations, and costs should be considered prior to purchasing an annuity within a tax-qualitied retirement plan, Annuities issued by Oceanview Lite and Annuity Company, 410 N. 44th St. Suite 210, Phoenix, AZ 85008. www.oceanviewife.com. Neither Oceanview/Life and Annuity Company nor any of its representatives may provide tax or legal advice. While care was taken in compiling this information, the Company reserves the right to correct any typographical errors that may exist. In California, doing business as Oceanview Life and Annuity Insurance Company. HARBOURVIEW ANNUITIES ARE PRODUCTS OF THE INSURANCE INDUSTRY AND NOT GUARANTEED BY ANY BANK NOR INSURED BY THE FDIC OR NCUA/ NCUSIF OR ANY OTHER FEDERAL GOVERNMENTAL AGENCY. MAY LOSE VALUE, NO BANK/CREDIT UNION GUARANTEE. NOT A DEPOSIT. MAY ONLY BE OFFERED BY A LICENSED INSURANCE AGENT. GUARANTEES ARE SUBJECT TO THE CLAIM PAYING ABILITY OF THE ISSUING INSURANCE COMPANY.