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August 2004

By Al Trierweiter

The aggregate market value of the State of Michigan Retirement System (SMRS) portfolio of investments hit a respectable 47.536 billion as of June 30, 2004. This total is represented by four state employee retirement funds of which the State Employees Retirement Fund is 20% of the whole or 9.511 billion. This total represents a gain of 138 million between May 31 and June 30, 2004.

The market value by fund stood as follows on June 30, 2004:

The US Securities and Real Estate items failed to gain in the SMRS portfolio. The remaining assets all increased their totals the past year. The following shows the respective changes since June 30, 2003.

The SMRS is the 13th largest public pension fund in the USA, 18th largest fund in the USA, and 29th largest pension fund in the world.

Observations, Facts and Assumptions

I’m Al Trierweiler and I approve of this message. Should fellow Americans be concerned about the growing federal budget deficit? I think we all should. It is my understanding the deficit presently exceeds 500 billion and there was a recent request for 87 billion more to fund Iraq’s peace keeping and rebuilding. If a company had started in business in the year A.D.1(one) with one billion in capital and lost one thousand dollars each day it would still be in business today over two thousand years later. The company would not go broke for another 800 years. That is just one billion. Have a good day! If possible.

The headline screamed Pay Raises Expected to Be Modest Through 2005. Too bad! The article advised that “companies are budgeting pay increases of 3.3% to 3.5% this year — the third in a row below the 4% plus level that was routine in the 1990’s and planned raises of 3.5% next year according to a pair of surveys.” Don’t mention this to old SERA members, those that have seen no increases in their pension since January 1, 1988.

The following is an observation worthy of mentioning however, may be a bitter pill for some. We have discovered there is one way health benefits could be lowered. “Businesses pay an average of $2,189 in workers compensation costs for smokers compared with $176 for nonsmokers” according to the Journal of Occupational and Environmental Medicine. “Health problems mean more lost workdays too. Smokers miss 6.16 days of work per year compared with the 3.86 days missed by nonsmokers” according to the medical journal Tobacco Control. I hope smokers still love me. By the way are you better off today than you were four years ago?

Did You Know

1. Impostors are possibly operating in your neighborhood today working to steal your name and social security number. This is known as identity theft. Never provide financial and other personal. Information in response to an unsolicited phone call. Use your head and not your heart when talking to a person who has knocked on your door.
2. Driving is a privilege, not a right. If you are a senior citizen we caution you to adhere to driving laws at a greater degree than even in the past. We seniors are being scrutinized as never before. Michigan does not have any special rules for elderly drivers yet even though studies have shown them at a higher risk for fatal road accidents. Be careful out there. If you (any age) has lost driving confidence or through an ailment you are being limited physically, it would be wise to turn in your drivers license and call CATA.

Ponder This

1. Blessed are the young — for they shall inherit the national debt.
2. The benefit of laughter is well documented. It massages muscles and internal organs, aids circulation, burns calories, affects blood pressure and heart rate, clears the respiratory tract, stimulates the immune system and reduces stress, pain, boredom and tension. It pays to laugh.
3. Why is it when you are driving and looking for an address you turn down the volume on the radio.
4. Some days you’re the dog, some days you’re the hydrant.
5. It’s not hard to meet expenses — they are everywhere.

Commentary

Dr. Paul De Weese ran as a candidate for the Seventh Congressional District which includes Eaton, Branch, Jackson, Hillsdale, Lenawee counties and parts of Calhoun and Washtenaw counties in the recent primary election. He put up a good fight but was defeated in a campaign which indicates that nice capable guys don’t always win.

Dr. DeWeese as a member of the House of Representatives in 2000 instituted the first State Employee and State Retiree Recognition Day. Dr. DeWeese also spearheaded a tribute to the Lansing Chapter of SERA on September 25, 2002 in recognition of the associations 30th anniversary. It was signed by him and Governor Engler. The Lansing State Journal November 29, 1999 headline showed that legislation was being proposed by representative DeWeese raising state retiree pensions. His plan involved boosting pensions of those workers who retired before October I, 1996. As most everyone is aware representative DeWeese’s efforts were thwarted by Governor Engler. We wish to thank Dr. DeWeese in all his efforts on SERA’s behalf and wish him much success in his future endeavors.

Editor’s note: Al Trierweiter is a former President of the Lansing SERA Chapter, former Chairman of the Michigan SERA Coordinating Council, former Legislative Representative for both the Lansing Chapter and the SERA Council. AI may be reached at 6440 Old River Trail, Lansing 48917; phone 321-0041.

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