Here is your latest Burial Fund update

Jay Gause

The Houston Police Burial Fund had its annual meeting on Jan. 11. Approximately 45 members attended. Lunch was provided by Secure Your Legacy, a funeral preplanning company. Stephanie Salcedo of Secure Your Legacy made a presentation at the beginning of the meeting regarding the importance of financially planning for one’s death. The Burial Fund does not endorse any outside companies.

 

After the presentation, trustees Jay Gause (retired), Alan Harris (retired) and Kathy Carey (active) were elected to board of trustee positions 1, 2 and 3, respectively.

 

The Burial Fund’s treasurer, Glen Juenke, had good news for the members. The fund’s reserve assets are no longer being tapped to pay death benefits. In fact, the reserve assets have started to grow. Some of the factors promoting this growth are 1) a good return on investments; 2) appropriate membership dues; and a 3) reduced death benefit.

 

Retired members of the meeting voiced concern that the reduced death benefit may pose a hardship for long-retired officers who do not have drop accounts and who were relying solely on the Burial Fund to pay for funeral expenses.

 

The Burial Fund president, Jay Gause wanted all members to be aware that the burial fund was never designed to be life insurance that would completely cover the expenses of a funeral and the loss of the deceased’s income. He strongly advised both regular and lifetime members to plan for their deaths by considering things such as life insurance, prepaid funeral arrangements, and personal savings and investments.

 

With that being said, Gause also stated the Board of Trustees very much want to continue to strengthen the Burial Fund’s general fund and reserve accounts so that the benefit may steadily rise in future years.

 

 

After these general discussions on the state of the Burial Fund, action was taken on the two amendments. What follows is a general description of these amendments. The exact wording appears in previous issues of this publication.

 

Amendment 1 passed unanimously. Members will now become paid up lifetime member upon actually retiring from the department. Burial Fund members who have already obtained a lifetime membership under previous versions of these bylaws retain their lifetime membership.

 

Amendment 2 was unanimously tabled. It was tabled because 501(c)(9) rules regarding tax reporting requirements need further study.

 

After consideration of the amendments, the annual meeting of the membership was adjourned and the 1st regular meeting of the Board of Trustees was called to order. Jay Gause, Kathy Carey, John Kitto, Glenn Juenke, and Jim Bollig were elected to the offices of president, 1st V.P., 2nd V.P., treasurer, and secretary, respectively.

 

The Board of Trustees is looking for active officers to consider for future trustee position vacancies.

 

The Board of Trustees then voted on the following schedule for board meetings on Thursdays in 2018: March 8, May 10, and October 11 at 11a.m. at the KofC Hall at 607 E. Whitney and on September 6 at 12:30p.m. at the HPOU Board of Directors room at 1600 State Street. The meeting was then adjourned.

 

For information or comment email jay.gause@ctrcc.com.