RMC_AUSTIN_NEWSLETTER_October_2010 by hedongchenchen


                       RMC NEWSLETTER - October, 2010
September 2010

The beautiful Barton Creek Resort & Spa surrounded by the Texas Hill Country was a great setting for
the 15th RMC Reunion. President Anita welcomed our new members and all guests. Al Iovanelli was
welcomed to the Board as Director Emeritus. Chuck Rowell was introduced as Vice
President/President Elect for 2012. Anita also thanked your dedicated Board members for their support
during this past year.
We were very fortunate to have Chairman Ted Mathas as our Key Note speaker at the Sunday
Welcome dinner attended by 90 members and guests. Chairman Ted informed us about the status of the
New York Life and how we remain strong in difficult times, after which he took questions from the
audience. He was both swift and captivating with his answers and got a standing ovation from an
impressed RMC group.

Monday morning President Anita started with an update on the State of RMC. She was happy to report
that we had welcomed 11 new members and that 75 members and guests were attending the Reunion.
We currently have 142 members.
Thanks to Chairman Ted, NYL increased their contribution to our Reunion by $10,000 for a total of
$25,000. This allowed us to put on a great Reunion at this first class location. RMC is truly grateful for
the generous support we have from the “Company We Keep”.
Board members Paul Russell and Les Schoenberg completed their terms on the Board this year.
They were not able to attend the Reunion. We owe them a big thanks for their contributions to RMC.
Brent Moore and Eric Rubin were nominated as replacements and were voted in by a majority of
members present.
Treasurer Bill Kelly reported on RMC finances. We look good thanks to the contributions from New
York Life and LTC contributions of $2,500, despite refunds from late cancellations of $3,200. He
noted that thanks to New York Life’s $25,000 contribution, we were able to significantly lower the
registration fees and the cost of the Austin City tour. The New York Life and the LTC contributions
along with registration fees are used to defray the cost of the Welcome Reception and Dinner, the Final
Dinner, 3 Breakfasts and Hotel meeting costs. Bill also added to information re health coverage in a
previous Newsletter on travel outside US. Medicare does not pay in certain situations (e.g. cruise ships)
and Aetna doesn’t cover all outpatient expenses. He advised it’s best to include medical insurance with
travel insurance.

Gary O’Neill, NYL VP and Managing Dir. NYLIM gave an overview of 25 years of Mainstay
performance: 2009 we had the highest net flow in MS history and were highly ranked against other
family funds by Barron’s. Large Cap Growth fund was #1 in net flows & 4 funds were in the top-
quartile net flows. He also expanded on Gary Wendlandt’s economic outlook: Don’t take chances
with your “safe money”, unstable economy not just US issue, if it looks too good to be true, it is,
expect the unexpected, moral hazards in the financial system, search for yield and a Guaranteed Income
for Life, Diversified Income fund: 100% fixed income asset allocation.

Mike Gallo, SVP, Head of LTC introduced all Long Term care policy benefits and stressed its key
part in retirement planning providing retirement income protection. Pension Protection Act now allows
1035 Exchanges using tax deferred income from fixed deferred annuities, which can be done tax free
automatically at NYL.
Barbara Devereaux, CVP LTC, Pacific Zone Sales compared car & home owners ins. to LTC
insurance. How much of your assets do you need/want to protect? Mutuality is important to long term
protection (LTCi). Impact on family is generational. If you have a Long Term care policy, review it
regularly (at least every 2 years) to make sure it is what you think it is.

George Nichols, SVP Office of Governmental Affairs, discussed issues facing today’s insurance
industry. There is a lot of uncertainty because of the November election. No one knows what President
Obama will do. Don’t assume that a Republican House will protect us. Many tax related bills are
proposed by Republicans. Regardless of who is in office we need to address the deficit. We have 2 to 3
years to make decisions re spending and taxes. Watch government encroachment into our business.
“Systematically significant firm‖ is key term. Once government decides exactly what that is, it will
likely start moving into the insurance industry. Things we thought government never would touch are
on the table: tax deductions, inside buildup, Bush tax cuts expiring 2010. If government becomes
backstop for insurance, it will want to have control and increase regulations. Our industry has
committed $30 million in trust to fight inside build up. NYLPAC, mutuality and direct communication
with policyholders on issues that would affect their policies and agent fly-ins are how we are fighting
on our side.
George urged us to get involved in the political process and to move beyond our world and have a
broad awareness of what’s going on around us.

Monday afternoon some spent on the Golf Course while others took the tour of Austin.

       George Nichols                       RMC Panel                           Mike Gallo

Tuesday started with a Remembrance, where RMC honored those members who have left us.
Eulogies were given by Lyle Paul for Jack Anttonen and Charlie Gogreve; by Jerry Hinrichs for Bob
Becker and Betty Cummings; by Mickey Munley for Chuck Daley, while the deceased’s pictures were
up on the screen.
The RMC Retiree Panel was a great success. Georgene Sfraga Panza, Bob Snider and Michael Kraft
shared their Lives after New York Life. Georgene is involved in a lot of charities and also pro bono
work. Bob flies people into the Alaskan wilderness for hunting and Michael and her husband started a
vineyard, Bella Grace, and are now ready to open their tasting room in CA’s Amador County.

Dave Krystel RMC & Claudia Stowers Associate VP, Advancement, American College spoke
about what a great success the program has become. Dave thanked everyone for their contributions,
which gives one of our NYL family the opportunity to learn about the financial services industry with a
paid internship. See Dave’s article below.
Claudia thanked David for all his hard work and contributions to the program. She outlined the
College’s new customized training modules, the new centers being created for women, for military and
for special needs. She also showed the video about our last intern, which the College has produced for
our website. She stressed what an outstanding intern Joanna Dinardi had been. The College has a new
website www.TheWealthChannel.com

2010 Intern Program a Great Success by Dave Krystel
This, the third year of our Intern Program, was another great success. Joanna Dinardi,
daughter of Peter Dinardi (VP and chief administration officer of NYLEX, the Company’s
executive benefits subsidiary), has returned to Villanova University as a senior studying history
and business. She stated she feels she is now more capable and qualified for life after college
because of her experience in the Advancement area of The American College, where she helped
plan and implement logistical details for a major fundraising campaign. While there, she
received the highest evaluation possible and she was consistently praised for her professionalism
and productivity.

To recap briefly, the Program provides a close relative of an RMC member or active NYL
management employee (with RMC relatives receiving preference) with an 8-week summer
internship at The American College in Bryn Mawr, PA, where he or she earns $18/hour and
three college credits. The success of the Program is evident as our first intern, Becky Adkins, is
now employed in NYL’s Long Term Care office in Austin, and last year’s intern, Coleen
Cavanagh, has applied for a position in the Home Office.

The Intern Program is funded solely by your voluntary contributions, which are matched by New
York Life (up to $25,000), as well as being tax deductible. We have not reached our first goal of
making the Program self-sustaining (meaning income from the fund is not expected to be
sufficient to support next year’s intern without dipping into principal).

I want to thank each of the 36 members who contributed $10,500 to the Fund this year and invite
other RMC members to join them. Your contributions help someone in the NYLIC family,
provide positive PR for NYL and the financial services industry overall, give RMC a purpose
beyond being purely social and show we still have the NYLIC Spirit. A form to contribute can be
found on the website by clicking the Internship Program link.

Dr Jaron Winston, MD introduced us to a new way of dealing with depression and memory loss
with focus on Alzheimers. He stressed the importance of taking fish oil (Omega 3), berries which
are anti-inflammatory (Alzheimers is an inflammatory disease), walnuts, spinach, kale- fresh or
frozen, the importance of exercise and social interaction. He is using a new method TMS
(Transcranial Magnetic Stimulation). It is the first treatment of its kind to be non-invasive, non-
systemic and utilizing no medication.

Tuesday’s session ended with a vote on the revised By Laws. The revision was passed by a
majority of members present. To clarify what the By Laws state as to voting:
In order to vote at the Reunion we have to have a quorum of current members present at the
meeting (which we did). The presence at the meeting of 25% of current RMC members constitute
a quorum. To pass the issue presented a majority of members present have to vote ―yes‖.

The afternoon was spent at leisure or taking a tour of the Texas Hill Country. Afterwards
everyone reunited at The Salt Lick Thurman’s Mansion in Driftwood out in the wine country.
After a reception on the balcony, the Salt Lick owner served up a scrumptious plate of barbecued
ribs, chicken, sausages, beef brisket and finger licking good barbeque sauce (all you could eat)
followed by peach or apple cobbler with ice cream. The evening ended with dance to live music
to wear off some of the added calories.

News from the Membership:
Cande Olsen reports that in September she competed in the ITU Triathlon World
Championships in Budapest, Hungary, representing Team USA. ―My event was a triathlon
consisting of a 1.5-kilometer swim, a 40-kilometer bike ride, and a 10-kilometer run. I qualified
for this race based on my performance at the 2009 USA Triathlon National Championship in the
women’s 60–64 age group (finally it’s good to be 60!). In Budapest, there were 19 competitors in
my age group, and I placed eighth overall—and first for Team USA! USA Triathlon coordinated
our week-long stay and provided training practices, transportation, medical staff, bike
mechanics, etc. Budapest is a beautiful city known for its historic architecture and spectacular
views along the Danube River, spanned by eight bridges, each with its own history and style.
 The city is normally crowded with people and traffic, making it a challenge to bike and run, but
on race day the course was closed to traffic. This gave us an opportunity to really take in the
beauty of the city as we were biking and running along the river and over the bridges. For the
last five years I’ve been competing in triathlons at the local and national level at the sprint,
Olympic, and half-ironman distances. I have frequently come in first in local races, but the
national and international level is a whole new experience! It’s all been very rewarding, with the
additional benefits of meeting lots of wonderful people and being in the best shape of my life.‖
 Two weeks after the Budapest race, Cande competed in the 2010 USA Triathlon National
Championships, and was able to qualify for the 2011 ITU Triathlon World Championships to be
held in Beijing in September

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