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Outlook Vol. 2, No. 2 Published by the Fall, 2001 Massachusetts Port Authority Employees’ Retirement System (MPAERS) FOCUSING ON RETIREMENT ISSUES FOR MASSPORT EMPLOYEES PAST AND PRESENT FROM THE BOARD Dear Members: We, the members of the Massport Employees’ Retirement Board, extend our heartfelt sympathies and condolences to all those who have been touched by the horrific events of September 11th. In particular we can appreciate the multitude of emotions that you, our members, are feeling from both the effects of this national tragedy but also, closer to home, the effects from the great loss suffered in Massachusetts. We are all additionally affected in various ways by the stream of media attention and general commentary about Massport, a host of changes at Logan, and inexplicable questions as to why someone would want to use our workplace as a weapon for such horrible destruction. As the entire nation tries to get back to some semblance of normalcy, growing attention has been given to the situation on Wall Street and how this tragedy will affect the American economy. Although, during this time of great strife, investment consideration is not in the forefront of our minds, we have honored our fiduciary responsibility to you and have taken the necessary steps to fulfill our obligations. The Board immediately sought guidance from our investment consultant, Wilshire Associates, to ensure that our investment performance was – and continues to be – closely monitored, that our allocations are appropriate considering the current circumstances, and that we are doing everything that we should be doing to act in the best interests of our members and maintain the security of the plan. Wilshire has strongly recommended that the Board make no changes to its asset allocation policy at this time and continue its disciplined rebalancing program of buying into asset classes as they become underweight relative to policy and selling those that become overweight. The Board remains unwavering in our commitment to maintaining the financial integrity of the system and providing our members and their beneficiaries with secure retirement, survivor and disability benefits. At this time of great pain and uncertainty, perhaps you will find the smallest measure of comfort in knowing that your pension is secure. If you have any questions or concerns, please do not hesitate to contact us at (617) 568-3951. We continue to keep the victims, their families and their loved ones in our thoughts and prayers. Sincerely, Jim Costello Dave Davis Michael Grieco Leslie Kirwan Phil Mallett Free Tickets Available for Globe Money Matters Conference T he Massport following track substitute If you are interested in provide us with your first and Retirement System will sessions for special situations: attending, please contact second choice for the track once again purchase tickets Widowhood – Planning for Laura Barbosa in the you wish to attend. Tickets for members who would like and Surviving It, Financial retirement office to register. will be reserved on a first- to attend the Boston Globe’s Survival After Divorce, Laura can be reached at come, first-served basis! Money Matters Personal Financial Planning for Gays (617) 568-3951 or via e-mail at More information on the Finance Conference. This and Lesbians, and Surviving a [email protected]. event can also be accessed at year’s event takes place on Layoff or Job Loss. Upon registering you must www.boston.com/moneymatters. Saturday, November 17 from 8 a.m. to 5 p.m. at the World Trade Center Boston. Last year we had about 60 people from Money Matters Tracks Massport in attendance and hope that more of you will join us this year. A. FINANCIAL D. ADVANCED G. STOCK Normally, the retail price INDEPENDENCE INVESTING INVESTING for tickets is $50 but the • Get Out of Debt • Allocate Your Assets • Home Cooking with retirement system is covering • Making Ends Meet: Properly Boston Capital the cost of tickets for our Budgeting and • Beating the Tax Man: • Domestic Fare with members (while supplies last). Planning Managing Your Money Boston Capital We are pleased to offer this • Investment Basics: so Uncle Sam Doesnt • Stocks, Funds or benefit and encourage you to Building Wealth One Get It Folios: Which Is Right take advantage by reserving Day at a Time • Are Mutual Funds Your For You? • Financial Housekeeping: Best Choice? • Great Research on your FREE ticket today. Any 10 Chores to Get Your • Sector Investing the Web member who wishes to bring a Finances in Order guest can do so provided that E. PLANNING FOR ☛ SUBSTITUTE he/she purchases a guest RETIREMENT SESSIONS* ticket (at a generously B. GETTING discounted rate of $20 per STARTED • When Do You Have • Widowhood — Enough? Planning for and person). Please keep in mind • Get a Retirement • The Right Way to Hire Surviving It that there is a limited number Savings Goal Financial Help • Financial Survival of ‘free’ tickets available for • Preparing to Buy a • The Role of Bonds in After Divorce employees and retirees. We Home Your Portfolio • Financial Planning for cannot allow guests to use the • Picking a Mutual Fund • Annuities: Good or Bad? Gays and Lesbians free tickets that are meant • The Best Way to Save • Surviving a Layoff or for College only for our members. All guests F. LIVING IN Job Loss must be registered and paid for. RETIREMENT C. INTERMEDIATE Attendees may choose to INVESTING • Managing Assets and attend one of seven different * Attendance in a substitute Income in Retirement tracks being offered. These • Evaluating Your Fund session is in place of the • Managing IRA include: Financial Portfolio corresponding track session Withdrawals • Assessing Your Risk to which you are assigned. Independence, Getting • Long-Term Care Tolerance Started, Intermediate Insurance: Who • Developing an Asset Investing, Advanced Investing, Needs It? Allocation Strategy Planning for Retirement, • Passing It On: Estate • Getting the Most from Living in Retirement, and Planning Your 401(k) Stock Investing. This year the Globe is also offering the 2 Lookout Every Vote Counts in the Retirement Board Election I t’s election time around terms. The fifth member is signed nomination papers Remember—every vote here—time to determine appointed by the other four must be filed in the retirement counts! Because the system who will serve as the two retirement board members. office no later than 4:00 p.m. is governed by the employee representatives on Currently, the two (EST) that day. Massachusetts Legislature, the retirement board for the incumbents serving as elected Ballot packets will be there is not much you can do next three years. board members are David W. mailed to all eligible voters on to change the basic elements The retirement board is Davis and Philip Mallett. Friday, December 7 and must of the plan. What you can do, made up of five members. The Nomination papers are be returned via U. S. mail to however, is get involved in the Authority appoints two of the currently available at the the post office box designated management of the system by board members. Two more are retirement office. The on the ballot envelope. The participating in our upcoming elected by the members of the nomination period closes on official election deadline is election. system to serve three-year Friday, November 16 and January 7, 2002. ELECTION TIMELINE October November December January 1 16 19 7 7 8 10 11 Nomination Nomination All qualified Ballot packets Election Ballots collected Notice of Start of papers become period closed. nominees mailed to all Deadline. and counted. election new term. available. Signed will be notified of eligible voters All completed results due. ** Nomination nomination nomination and ballots must be papers can be papers must be election received via U.S. submitted filed in the procedures. Mail at the post anytime between retirement office office box 10/1/01 and no later than designated by the 11/16/01. 4:00 p.m. retirement board as the official ballot return location. For Your Benefit Aetna to Conduct Meetings About Pension Reform P ension reform is here. To addressed in person. Pension Reform Meeting Schedule help us sort out the details, Meetings will run our deferred compensation approximately one hour. Wednesday, October 10 plan provider ING Aetna Anyone interested in hearing • Hanscom Field, Conference Room, 10:00 a.m. Financial Services will conduct the information may attend informational meetings and there is no pre-registration Tuesday, October 16 around the Authority required. For more information • Logan, T-5 Conference Room, 8:30 a.m. beginning October 10. The about these meetings, you may • Logan Office Center, Capital Programs meetings will center on how contact Lisa Allen Brown in Bid Room, 11 a.m. & 1 p.m. pension reform affects the 457 the retirement office at Friday, October 19 deferred compensation plan. (617) 568-3903. For questions • Fish Pier, International Marketing This will be an opportunity pertaining to your deferred Conference Room, 11 a.m. & 1 p.m. to learn about how pension compensation account, please reform affects you and to have contact ING Aetna Customer Wednesday, October 24 your questions and concerns Service at 1-800-584-6001. • Tobin Bridge, Recreation Room, 1:00 p.m. 3 Calendar OCTOBER 27 The Money Conference for Women, White’s of Westport 10 Deferred Compensation Presentation on Call 1-800-711-4451 to register. Pension Reform Hanscom Field, Conference Room, NOVEMBER 10 a.m. 6 National Election Day — don’t forget to 16 Deferred Compensation Presentations on vote! Pension Reform - Logan, T-5 Conference Room, 8:30 a.m. 10 The Money Conference for Women, - Logan Office Center, Capital Programs Brandeis University, Waltham Bid Room, 11 a.m. & 1 p.m. Call 1-800-711-4451 to register. 19 Deferred Compensation Presentation on 12 Veterans’ Day, Observed: Massport Pension Reform offices closed Fish Pier, International Marketing Conference Room, 11 a.m. & 1 p.m. 16 Nomination period closes for Retirement Board election 24 Board Meeting: Logan Office Center, Board Room, 10 a.m. 22 Thanksgiving Day: Massport offices closed Deferred Compensation Presentation on Pension Reform 26 Retirement checks mailed Tobin Bridge, Recreation Room, 1:00 p.m. 28 Board Meeting: Logan Office Center, 25 Retirement checks mailed Board Room, 10 a.m. * Meeting schedules are subject to change. Important Bulletin: Calling All Snowbirds! For those of you who flock to warmer climates in the winter months, please don’t forget to contact the retirement office and provide us with your temporary address. This will ensure that all checks and other communication pieces reach you in a timely manner! Ways to let us(cid:2) know... ✉ Call: 617-568-3951 Mail: Massport Employees’ Retirement System VVVVV 1 Harborside Drive, Suite 200S E-mail: [email protected] East Boston, MA 02128-2909 Retirement Board & Staff Outlook is published Managing Editor Retirement Board quarterly by the Lisa Allen Brown James P. Costello, Chairman Massachusetts Port [email protected] David W. Davis, Elected Member ([email protected]) Authority Employees’ Michael A. Grieco, Appointed Member Contributors Retirement System Richard Heidlage Leslie A. Kirwan, Treasurer-Custodian (ex officio) (MPAERS) Philip H. Mallett, Elected Member ([email protected]) Design One Harborside Drive Colvin/Williams, Inc. Retirement Office Staff Suite 200S Irene E. Moran, Director of Retirement ([email protected]) Boston, MA 02128 Nancy Bournival, Financial Analyst ([email protected]) (617) 568-3951 Lisa Allen Brown, Retirement Communication Specialist ([email protected]) Laura E. Barbosa, Retirement Coordinator ([email protected])