ERS Executive Director 1099R for 2007

789 N. Water Street, Suite 300
Milwaukee WI 53202
(414) 286-3557
(800) 815-8418
Visit Our Website: http://www.cmers.com/
Questions/comments: norm@cmers
ERS Executive Director
On January 28, 2008, the Annuity and Pension Board voted to appoint Mr.
Jerry Allen as the new Executive Director. Mr. Allen comes to the City of
Milwaukee from the corporate sector, where he has worked for the past five
years as the Director of Benefit Investments and Compliance for Stora Enso
North America Corp. located in Wisconsin Rapids, WI. Stora Enso is the
world’s largest paper manufacturer. Prior to his employment at Stora Enso, he
also performed employee benefit plan and design functions at the Fort James
Corp. and the Martin-Brower Company and has over 30 years experience in
plan governance, investment oversight, employee benefit plan management
and compliance. Mr. Allen began his Executive Director duties with ERS on
February 18, 2008.
1099R for 2007:
If you have not received your 1099R for 2007, please contact the pension
office so we can mail you a new form. You will need this form for filing your
income tax return for 2006. Don’t wait until the last minute! Replacement
forms will be issued free-of-charge through April 15, 2008. Any request for a
replacement after that date will be filled only upon receipt of a $15.00
processing fee.
If you receive a Duty Disability benefit from the ERS, you do not receive a
1099R, because this benefit is neither taxable by nor reportable to the IRS.
■The ERS staff is not allowed to give tax advice or answer specific tax
questions. We cannot recommend how much you should have withheld or tell
you if you need to file a tax return. Please consult the applicable IRS
instructions or a tax professional. There are taxpayer assistance programs,
often at no cost, through organizations such as AARP and Volunteer Income
Recently Retired ERS
Members
Cameo Barbian-GayanMPD
Sharon Bruder- MPS
John Cullaton- Dept. of
Neighborhood Services
James Fitzgerald- Office of
City Attorney*
Joyce Frailing- MPS*
Donna Gales- MPS
James Geissner- Common
Council/City Clerk*
Randolf Gschwind- ITMD
Michael Hartung- MFD
Gary Kadow- DPWOperations
Brett Kemnitz- Health
Ruth Kopp- MPS*
Gary Kulwicki- DPWBuildings & Fleet
Terry Mackin- MFD
Donald Mannery- ERS
Joan Morbeck- Library
Susan O’Shea- Common
Council/City Clerk
Ragnard Petersen-MFD
Peter Pochowski- MPS
Irmina Roche- MPS
Doretta Ryan- Wisconsin
Center District*
Richard Sandoval- MPD
Mary Sherwood- MPS*
Donald Sleaper- Wisconsin
Center District
William Sprotte- DPWInfrastructure
Clotee Thomas- MPS*
Suzanne Wojtowicz- ERS
Michael Zach- MFD
*Deferred
Tax Assistance (VITA). Also, local libraries may have volunteer tax professionals to assist you.
■If you are eligible to receive the recently passed economic stimulus payment, you must file a 2007
individual income tax return to receive your payment this year.
Notification of Address Changes:
We don’t know you have moved unless you notify us in writing.
If you notify the post office, you should also notify ERS.
Always include the actual start date you want the change to take
place. Please do not give the payroll month, as this can cause
confusion.
We don’t know if you are temporarily away, unless you notify us
in writing. The post office will not forward your check or
monthly statement or hold it until you return. It will be returned
to our office. If you notify us that you will be temporarily away,
but then change your mind, we will still mail items as you
directed until we are told differently.
We don’t know if you have changed banks or account number
with the same bank, unless you notify us. You and your bank
must complete an ERS Direct Deposit Authorization form.
The forms to change your address, bank information and tax
withholding can be found on our website, www.cmers.com, or
you can call our office and we will be happy to mail the form to
you.
2007 Investment Update:
During 2007, the Fund returned 7.5%, gross of fees, and
underperformed its blended benchmark return of 7.8%. Overall,
Fund performance was held back by a lackluster return of 2.9%
in our domestic equity allocation. However, strong performance
by the Fund’s allocations to real estate (for the 12-month period
ending September 30, 2007) and international stocks, which were
up 21.1% and 14.1%, respectively, partially mitigated the
domestic equity underperformance. Our fixed income allocation
produced a relatively strong 7.8% return for the year. During
2007, the Fund gained approximately $372 million and paid out
$255 million in benefits and expenses. As of December 31,
2007, the market value of the Fund was slightly above $5.2
billion.
In Memoriam
ERS Retirees who have recently
died:
Constance Adornato- MPS
Viola Azzalino- MPS
Ammie Beamon- DCD
Ralph Engl- DPW-Sanitation
John Evans- DPW-Muni. Equipment
Carol Gordon- Library
Richard Gralinski- MFD
Patricia Hetzer- MPS
Robert Hutter- DPW-Bureau of
Engineers
Esther Kallies- Health
Vivian Karpinski- MPS
Theodore Kaul- DPW- Muni.
Equipment
Rose Mank- Office of City Attorney
John Marciolek- DPW-Sanitation
John Markowski- DPW-Sanitation
Marie McElvain- MPS
Donald Pahule- Building Inspection
Leonard Pflieger- MMSD
Urban Rehberg- MPD
Norbert Sarnowski- DPW-Water
Marianne Schultz- DOA(ITMD)
James Sonsalla- MPS
William Sweet- MMSD
Inez Toman- MPS
Jean Wallenfang- MPS
Important Dates:
Pension payments:
Your March, 2008 benefit payment will be
mailed on March 28, 2007 - payable on March
31, 2008.
March 9 – Daylight saving time begins
Retirees with direct deposit will have their
payments in their accounts on March 31, 2008.
March 17 - St. Patrick’s Day
Processing affidavits for lost February checks
will be started on March 10, 2008.
March 20 - Spring begins (for some of us)