Wednesday, July 26, 2017

"Preliminary Reports Show TRS Investments Improved Over Prior Fiscal Year"




“A preliminary analysis indicates that TRS investments will perform better in fiscal year 2017 than they did in fiscal year 2016 due to a booming stock market and an improving economy. On March 31 – three-quarters of the way through fiscal year 2017 – TRS investment returns were a positive 8.84 percent, net of fees. During fiscal year 2016, TRS returns at the end of three quarters stood at a negative 1.87 percent, net of fees. These results continued an upward trend in returns recorded by TRS within the last year.

“On Dec. 31, 2016 – the midway point in fiscal year 2017 – returns stood at a positive 4.64 percent, compared to a negative 2.74 percent at the same point in fiscal year 2016. For calendar year 2016, TRS investment returns were a positive 7.59 percent. In calendar year 2015, TRS investments returned a positive 1.07 percent. All returns were net of fees.

“On March 31, 2017, TRS had $47.3 billion in assets. A year ago, the System had $43.8 billion and finished fiscal year 2016 with $45.2 billion. In addition, TRS is on schedule to receive its entire $4 billion state government contribution for fiscal year 2017. Each year the contribution is received in 12 installments.

“Yet, despite the good news that TRS will receive its entire fiscal year 2017 contribution, the $4 billion falls $2.08 billion short of a contribution that the TRS actuaries would label as 'full funding.' State government has underfunded TRS every year for more than 75 years. In fiscal year 2017, the state contribution should have been $6.07 billion. This chronic underfunding is the main cause of the System’s $71.4 billion unfunded liability” (TRS of Illinois).




Tell your Senators to support individuals living with Alzheimer’s now!




The Senate may vote as early as Wednesday [July 26] on legislation that, if signed into law, would have far reaching, damaging repercussions for those with Alzheimer’s and their families. The legislation could reduce support for millions of cognitively impaired elderly who rely on Medicaid services.

Tell your Senators to support individuals living with Alzheimer’s now!

Alzheimer’s is progressive and fatal. In its later stages, those who have it require an extraordinarily high level of hands-on care. Today, more than 1 in 4 seniors living with Alzheimer's and other dementias are on Medicaid. It is the only public program that covers the nursing home stays that most people with dementia require in the late stages of the disease. Medicaid also covers home and community-based services which are critical for people in the early and middle stages of the disease.

We are also concerned that legislation under consideration would eliminate pre-existing condition safeguards for individuals with Alzheimer’s and other dementias to have continued access to affordable health care. This is critical for the estimated 200,000 Americans who have younger-onset Alzheimer’s as they progress through the stages of the disease while under age 65.

Until the millions of Americans living with Alzheimer’s and other dementias have access to effective treatments and means of prevention, they must have access to the effective care and support resources that the disease requires.

Please urge your Senators to address these huge challenges to some of their most vulnerable constituents.


Alzheimer's Association National Office
225 N. Michigan Ave., Fl. 17, Chicago, IL 60601
© 2017 Alzheimer's Association. All rights reserved.
800.272.3900 | alz.org®
 



Dear US Senator...

As you consider changes to the Patient Protection and Affordable Care Act (P.L. 111-148) via the Better Care Reconciliation Act, I urge you to ensure that the legislation contains the strongest provisions possible to address the particular challenges and concerns of the millions of Americans living with Alzheimer's and other dementias.

More than 5 million Americans are living with Alzheimer's and, without significant action, as many as 16 million Americans will have Alzheimer's by 2050. Today, another person develops the disease every 66 seconds; by 2050, someone in the United States will develop the disease every 33 seconds. This explosive growth will cause Alzheimer's costs to increase from an estimated $259 billion in 2017 to $1.1 trillion in 2050 (in 2017 dollars).

It is essential to preserve access to quality care through Medicaid coverage for people living with Alzheimer's and other dementias. Medicaid is the only public program that covers the long-term nursing home stays that most people with dementia require in the late stages of the disease. Medicaid also covers home and community-based services which are critical for people with dementia, particularly in the early and middle stages of the disease. More than one in four seniors with Alzheimer's and other dementias are currently on Medicaid. With the number of people with the disease set to nearly triple in the coming decades, it is crucial that Congress ensures continued access to Medicaid services for this vulnerable population that has long relied on them.

I also urge you to protect affordable access to health care for individuals with pre-existing conditions like Alzheimer's and other dementias. This is especially important to the 200,000 Americans under age 65 who have younger-onset Alzheimer's.

As your constituent, I urge you to ensure that any proposal to reform the health care system preserves access to affordable, quality health care for people living with Alzheimer's and other dementias.

Sincerely,