From the Archives: United Way Retirees Association Benefits Study
In honor of our 35th Anniversary, United Way NEXT is excited to feature articles from past issues of the original United Way Retirees Association newsletter!
This month, we’re highlighting an article featured in the Winter 1991 issue titled “UWRA Benefits Study.” According to UWRA’s President, Chuck Devine, “this was a major piece of work” which he credited to Bill Smith & the board.
At that time, the Board of Directors consisted of:
Officers
President: Charles J. Devine
Vice President: Donald L. Morgan
Secretary: Henry M. Smith
Treasurer: William (Bill) J. Smith
Board of Directors
Stephen Beer
Gordon Berg
Thomas J. Cooley
Robert F. Fenley
Lyman S. Ford
John H. Garber
Warren B. Goodwin
William A. Kerrigan
S. Sidney Newhouse
Robert W. Reifsnyder
John H. Yerger
United Way Retirees Association Benefits Study — Winter 1991
In 1991 United Way Retirees Association undertook a study of the effects of inflation on the retirement benefits of United Way retirees. It demonstrated, for example, that for persons retiring in 1967 the purchasing power of their pension has declined 75%. For those retiring in 1978 the purchasing power of their retirement benefits has decreased by 50%. The study gathered information about what some United Ways have done in an attempt to correct this situation by making ad hoc increases to retirees on a periodic basis. The study also collected information from four of the major national agencies that have their own retirement plan as to what they have done in increasing benefits for their retirees. In actuality, the national agencies have been very generous to their retirees.
The study concluded by recommending that local United Ways do three things:
Adopt a policy that would provide for the periodic review of retiree benefits. Such a review would not in any way commit the United Way to make adjustments in benefits, but would provide for an orderly review.
As an ultimate objective, the study recommended that the United Ways consider making retiree benefit adjustments equal to 50% of the increase in the cost of living. However, the association recognized that the ability of the United Ways to make such adjustments would depend on cost and the funds that would be available.
The study recommended that each United Way work with its insurance provider to determine how such increases might be made and whether funds might be available from current retirement plan resources to make such adjustments possible.
The study was made by Bill Smith, formerly Chief Professional Officer at the United Way in St. Paul with the assistance of members of the Board of Directors. Persons desiring a copy of the report can obtain one by writing or calling Don McKee, Human Resources Development Division, United Way of America of America, 701 North Fairfax Street, Alexandria, Virginia 22314; 703/836-7100.
Special thanks to Bill Smith for conducting this survey.
As we celebrate 35 years of impact, we honor the voices and history that built the foundation of our organization!
To keep the celebration going all year long, we hope you’ll visit our 35th Anniversary page to explore more stories, share your own, and help shape the future of United Way NEXT 💙
