Subject: October 2014 Newsletter

CTPF RETIREES: Open Enrollment Ends October 31



CTPF offers health insurance benefits to retired members whose final teaching service was CTPF, and their eligible survivors/dependents. 
The 2015 Open Enrollment Period is a time when retirees can:
  • Enroll in a health insurance plan for the first time
     
  • Add a dependent to a CTPF plan
      
  • Change a health insurance plan or carrier


Unlock the Value of Your Portfolio with Securities Based Lending

How you borrow is an important aspect of maintaining your wealth and achieving your overall financial objectives. When executed properly, a securities based loan can provide the financing you need without liquidating assets, diminishing cash reserves or disrupting your overall investment strategy. There are risks associated with using your assets as collateral in a securities based loan, including for example (i) the need to deposit additional eligible securities to maintain the availability of funds and (ii) possible margin calls on short notice.

U.S. needs to rethink Ebola infection controls, says CDC chief

Medical experts need to rethink how highly infectious diseases are handled in the United States, a U.S. health official said on Monday, after a Dallas nurse contracted Ebola despite wearing protective gear while caring for a dying Liberian patient.

“We have to rethink the way we address Ebola infection control. Even a single infection is unacceptable,” Dr. Thomas Frieden, director of the U.S. Centers for Disease Control and Prevention, told reporters. “The care of Ebola is hard. We’re working to make it safer and easier.”

Consider the Education Vote

In most Americans’ minds, education is tied to career preparation. And Americans are worried about jobs. So it’s no coincidence that education has risen as an election issue, although it typically resides somewhere in the middle of voters’ priorities.

This week, Kentucky Sen. Rand Paul prodded potential 2016 candidates for president, asserting no candidate would win the GOP nomination if he or she supports Common Core. American Federation for Children counsel, Kevin Chavous, appeared on Wall Street Journal’s Opinion Journal to note that school quality and the increase in school choice are putting in play voters who traditionally would vote for Democrats.

Griffin: College of DuPage spent $26 million without board scrutiny

Over the past 16 months, the College of DuPage has paid more than $26 million without the board of trustees knowing specifically how the money was spent.

That’s because of a long-standing board policy that allows administrators to pay bills of less than $15,000 without providing itemized reports.

However, some vendors got checks for as much as $65,000, according to financial records the college released because of a Freedom of Information Act request. Administrators explained those cases by saying they sometimes lumped multiple invoices together for convenience so they could write one check.

New IRA rules that close up some loopholes


In January 2014, Alvan and Elisa Bobrow made an appearance in the U.S. Tax Court to plead their case regarding a string of 60-day rollovers among their IRA accounts. 

With the 60-day rollover, or once-per-year transfer, a check is cut directly to the account owner with the understanding that the funds must be back in an IRA within 60 days or the funds will become subject to taxes and penalties. Before the 2014 decision, the understanding was that one transfer could be done in a 12-month period for each IRA account owned



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