Announcements
Convention Housing Deadline Extended
The Grand Sierra Resort has extended the deadline for our convention
rate to June 18th. Reservation requests recieved by the resort after that date will be confirmed
subject to availability at the resort's normal rate.
If you plan on attending convention, book today!
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Ladies Auxiliary Funeral Benefit Fund - IMPORTANT CHANGES
The Grand Auxiliary Officers, based on recommendations from the auditors and the
actuary firm, have closed enrollment into the Funeral Benefit Fund, effective May
31, 2009.
- What effect does this have on the current Auxiliary Members or members initiated
prior to June 1, 2009?
-
- None.
- Any member who is a Funeral Benefit Member on May 31, 2009 will continue to be a
Funeral Benefit Member. NO BENEFITS HAVE BEEN TAKEN AWAY.
- Auxiliaries will still continue to pay the $1.00 per year of PCT for the benefit
to the Grand Aerie, which the Auxiliary has collected from the participating members.
- What effect does this have on the Auxiliary Members initiated after May 31, 2009?
-
- Members initiated after May 31, 2009 will not participate in the program. They will
not pay $1.00 per year; they will not be counted in Funeral Benefit per capita tax.
- Why was this decision made?
-
- In 2009, a $200 benefit does not make a dent in the cost of a funeral; therefore,
the Funeral Benefit Fund does not have the desired effect it once had of attracting
or retaining new members. Surveys to members indicated that the Funeral Benefit
Fund has little effect on the decision to become a member.
- For several years, present value reports have indicated that the FB fund may not
be collecting enough money to pay out benefits as our membership grows and ages.
The auditors requested we do an actuarial study to determine if we could actually
pay the benefits years down the road as the population ages.
- As the market started turning downward and investments began declining in value,
we commissioned the study. Declining market value would make the situation worse,
not better, so it was time to address the issue.
- The actuarial firm did the study and confirmed that long-term, the ladies would
need to pay more money into the fund in order to keep the benefit sustainable. The
participants should be paying $6.50 per person to receive the $200. As it is very
difficult to pass an increase in FB PCT, the other alternative was to “freeze” the
current members who are participating and not include anyone else into the program.
Through natural attrition, the participant numbers will decrease over time which
allows the plan to remain solvent for the current members.
- Positive outcomes from the decision (see April Eagle Magazine for more details on
the Diabetes Center donation):
-
- With the closing of enrollment to new or re-enrolled members, some funds would be
freed up to utilize for other projects. The Grand Aerie Board felt it was important
that the Ladies Auxiliary fully make this decision and also be allowed to determine
what to do with any excess funds. The donation to the Diabetes Research Center was
a project the Auxiliary officers felt very strongly about putting their name on
and this opportunity presented the Auxiliary with the funds to participate in a
meaningful way, to literally choose “an investment in life over an investment in
death”.
- Important to note is that even if the Diabetes Research Center project did not exist,
the FB Fund would have still needed to be addressed. The Diabetes project merely
provided the ladies an opportunity to “get on the map” and do a great thing for
the whole Order.
CORRECTION: Constitution and Rules and Regulations Book To Come
Page 14 of the April Eagle Magazine notes The Constitution and Rules and Regulations
are now available in one book – this dual Constitution and Rules and Regulations
book will not be made available until after the International Convention.
2009 Grand Convention Information Posted
Housing, ticket information and entertainment listings have been posted to the Convention page of the Grand
Aerie Website. See you in Reno!