Trust Delivers Value to Members
By Scott Culver
Communications Specialist
WEA Trust
September 2003
More than 30 years ago, WEAC formed an independent trust to provide
a better benefit deal for its members than was available from conventional
insurers.
In the ensuing three decades, the WEA Trust has succeeded
beyond the expectations of its founders and has set the standard by
which public school employee benefits
are measured today.
Our programs are designed to protect and enhance the economic
well-being of the state’s public school employees. And our not-for-profit
structure requires that we use all the dollars we receive exclusively
for benefit payments and necessary
administrative costs. None of the money the Trust collects is spent on extravagant
ad campaigns, sales commissions, or stockholder dividends. As a result, public
school districts get better benefits at a lower cost.
Financially, the Trust
operates independent of WEAC. While the WEAC Board elects the Trustees
who serve on the various Trust boards, the Trust returns
no money
to WEAC. 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.
You can improve your financial security by participating
in programs offered through the Trust, including:
- Employment-based
insurance — The Trust offers the following group
insurance programs when negotiated by a WEAC local: health, dental,
disability, life, and long term care. For more information, call
(800) 279-4000.
- Personal insurance — The Trust offers the following
programs directly to members: auto, home, individual long-term care,
and excess liability
(umbrella). For more information, call (800) 279-4010.
- Retirement and investment
services — The Trust offers tax-sheltered
annuity (TSA) and IRA programs. For information about the Trust’s
TSA program, call (800) 279-4030. For information about the Trust’s
IRA, call (877) 962-8472.
Posted September 10, 2003