Trust Programs Designed For You

By Scott Culver
Communications Specialist
WEA Trust

September 2000

The beginning of the school year often means a time for making new friends and renewing old friendships. So, this seems like the perfect opportunity to introduce our new members and reacquaint our old ones with the WEA Trust.

Thirty years ago, WEAC formed an independent trust to create high-quality benefit plans for its members and other school employees. In the three decades since its origin, Trust plans have become the standard by which public school employee benefits are measured.

While there are many respectable programs available in the marketplace, the Trust’s programs are unique. None of your money is spent on glitzy ads, sales commissions, or stockholder dividends. The Trust’s programs are the only ones that are designed for members, by members, and with members’ best interests at heart.

The Trust is financially independent of WEAC. While the Trustees who serve on the various Trust Boards are elected by the WEAC Board, the Trust returns no money to WEAC. The Trust uses its resources solely to pay benefits and to administer its plans.

All the Trustees are active or retired public school employees who serve without compensation. As educators, they understand the needs of public school employees and direct Trust programs to provide quality, comprehensive products and services to members.

Member-driven programs
The Trust offers both employment-based and personal insurance plans designed to protect the financial well-being of WEAC’s members. In addition, it offers retirement investment programs to enhance members’ financial well-being. And, because Trust programs are member-driven, they offer more.

For example, the Trust health insurance program has developed into a national leader at providing services aimed at maintaining and improving the health of its participants. Not only is the health plan the most comprehensive in terms of coverage but also the leader in providing both health and disease management programs. The Trust’s StayWell, Care24, and Smoking Cessation programs provide Trust participants an array of services no other insurer provides.

Similarly, the Trust provides personal insurances such as auto, homeowners, long term care, and excess liability (umbrella) protection. While these services are widely available in the marketplace, what’s harder to find is unbiased advice about what members need, and a benchmark they can use for comparison. The Trust offers both, along with multiple payment options.
Retirement investments

The Trust also provides two programs for members who want to set aside money for retirement: a tax-sheltered annuity (TSA) program and an IRA. Our TSA helps members save for retirement on a pre-tax basis. Public school employees belong to one of the few groups that can participate in TSAs. We established our TSA program to ensure that members learn about TSAs from an impartial source, that they don’t have to pay exorbitant fees to participate in such a program, and that they receive competitive returns on their investments.

Members may also choose to invest in the WEAC IRA. We offer both traditional and Roth IRAs. Traditional IRAs give you tax-deferred growth and possible tax deductibility now, while Roth IRAs offer tax-free growth – and no taxes at retirement. Both IRAs offer exceptional interest rates and very low administrative fees.