Wednesday, January 16, 2013

McCord Treasury Newsletters

In addition to the McCord Reports, State Treasurer Rob McCord’s office also produces a Treasury Newsletter.    As one might expect, and as the name implies, the newsletters are shorter than the reports.   I read through all of the issues available on the treasury department’s website.   The newsletter page has the first sentence or two of each issue.  It might be a bit redundant but I’ve included some notes from each issue.   There were some interesting quotes that I’ve pulled out and some issues cover more than one topic which the list on the treasury site doesn’t indicate.

According to my calculations there were 6 issues in 2009, 9 in 2010, 6 in 2011, and only 2 in 2012.  Looking at the topics discussed, some trends can be clearly seen.  Topics covered in more than two issues are:

529 college savings plans (4 issues)
Unclaimed property (3 issues)
Women – retirement, small business owners, etc (3 issues)
Green energy programs (3 issues)

Here is a  list of issues and topics, with selected quotes.
2009 June 8
Welcome to the first issue of Treasury’s newsletter – “”As Pennsylvania Treasurer, my first duty is to safeguard and invest the financial assets of the Commonwealth.  Beyond that immediate duty, I also work to ensure that our long-term investments pay the greatest possible dividends for Pennsylvania and its residents.” 

2009 June 19
[announcing the Treasury’s revamped  website]

2009 July 2
PA Families Don’t Have to Break the Bank to Beat the Heat – Keystone Home Energy Loan Program or Keystone HELP to increase energy efficiency of your home
Attention, College Savers!  Increased Benefits and Tax Advantages in Pennsylvania’s 529 Program

2009 August 6
Announcing that the department has loaded budget symbols and begin processing a payment file on Wednesday and yet still make payments on Friday
Launches Women & Money Project to help PA Women Entrepreneurs Succeed in Today’s Economy – partnering with Women Impacting Public Policy (WIPP) to host a series of events across the Commonwealth “to help women entrepreneurs find business opportunities in our nation’s new economy and grow their companies.” 

2009 September 17
[report from AFL-CIO convention]
During College Savings Month, Treasurer McCord holds roundtable discussion on college affordability – PA 529 college savings plan

2009 December 24
[suggests families take time for year-end tax planning and provides tips for doing so]

2010 January 15
[encourages people to participate in King Day of Service and provides links to organizations and causes]

2010 March 26
Open for Business – small businesses employ half of the state’s workforce.  New program – Micro-Lending Investment Initiative “to invest $10 million through local Community Development Financial Institutions (CDFIs) into small business.”

2010 April 29
Mentions article in Politico that McCord co-authored with CEO of California Public Employees’ Retirement System and the NY State Comptroller who is the sole fiduciary of the NY State common Retirement Fund.  The article starts “Transparency is a cornerstone of our economy.”  It goes on to support the SEC’s guidelines on climate change disclosure.

2010 May 11
State Treasurer McCord Files Suit to Ensure Gaming Control Board Oversight  --  McCord files a lawsuit because GCB denied treasurer access to executive sessions although by law the treasurer is by law an ex officio member.

2010 July 23
Update on Green Investing:  A McCord Treasury Priority – “investing that can both create jobs and preserve a natural world of promise for our children and beyond.”  Later “I believe private investment should be spurred by thoughtful and balanced public policy.  That is why I am proud to report the McCord Treasury Department has formally incorporated environmental considerations into our Investment Policy [link]”  “Calls for increased transparency and improved disclosure of the material risks associated with climate change faced by publicly-traded companies”

2010 August 17
[update on new Bureau of Change Management and Internal Audits]

2010 September 14
[announces, “an online tool to help all Pennsylvanians plan, save and retire with full financial comfort.”]  “Women in particular, should visit   Why?  Because women are at a greater financial risk in retirement and may not recognize that risk early enough.”

2010 November 1
Treasury Innovations Improve Pennsylvanian’s Economic  Security – the highlighted programs are the Energy Efficiency Loan Program, the Bureau of Change Management, and the Micro-lending Investment Initiative. 

2010 November 29
Two items:  1) a push for giving kids a 529 College Savings account as a holiday gift, and 2) a suggestion to shop at the Treasury Dept’s eBay store where unclaimed property is sold. 

2011 March 4
Two items:  1) Suggestions for finding and claiming unclaimed property, and 2) Property Tax / Rent Rebate Program applications available

2011 March 28
April 15th Unclaimed Property Reporting Deadline
Enhance Your Employee Benefits (series of webinars)

2011 August 29
Various notes on the 529 Guaranteed Savings Plans

2011 August 31
Information on the Emergency Homeowner’s Loan Program “to assist homeowners facing the loss of their homes.” 

2011 September 15
[federal and state programs for those affected by Hurricane Irene and Tropical Storm Lee]

2011 October 6
Helping PA Colleges Go Green, Cut Costs – discusses the Campus Energy Efficiency Fund

2012 February 15
A Message from Treasurer Rob McCord – information on settlement from five major mortgage providers

2012 March 23
$540,000 in unclaimed property for PA schools and schools districts – encourages schools and school districts to check the unclaimed property list and see if anything on the list belongs to them.

No comments: