Hello. My name is Terry A. Moore. I sit as the Chairperson for the PORAC Retiree Medical Trust. Welcome, and thanks for stopping by on our website. We are truly excited to have you visiting us, looking for more information on the RMT.
The RMT was put together in the fall of 2008. It was a vision of several people, including then PORAC President Ron Cottingham and then Vice President Mike Durant. They realized that many of us in the law enforcement community were falling victim to reduced city and county budgetary constraints. Some of us had absolutely no post-retirement health benefits of any kind. Others had some limited benefits. But what was paramount was the municipalities were either reducing or eliminating those benefits entirely. The genesis of the RMT is pure and homegrown by PORAC.
This Trust is a health premium and medical expense reimbursement plan. Participating associations make a monthly contribution on behalf of their members. Those contributions are made on a pre-tax basis. In other words, there is no tax taken out. The Trust has the funds professionally invested. All of the earnings on the investments are tax free. When a participant retires and becomes age eligible, benefits are paid out. Those benefits are totally tax free. So to recap, this is a triple tax free benefit. Uncle Sam never puts his paws on your money. It’s a benefit like no other.
The Trust was created with the traditional PORAC model in mind. There is a Trustee from each of the four regions. The PORAC President appoints a fifth Trustee, making that appointment from the PORAC Board of Directors. The five Trustees are responsible for running and administering the Trust. This is a Trust established for both law enforcement and fire personnel. Trustees are law enforcement officers who are currently working or recently retired. I can assure you that they have your best interests in mind.
When you retire, it’s is extremely likely that you will purchase health insurance for you and your spouse. Believe me, that insurance is very expensive. It really is critical that you prepare for that eventuality. By participating in the RMT, you can dramatically reduce your out of pocket expenses for your post-retirement medical care.
During the COVID-19 Pandemic, the Trust has had to scale back in-person presentations and contacts. However, we still experienced the largest, most significant growth in our 12-year history. We recently added our first association in the state of Washington. Several additional California associations joined as well. As of January 2021, we have 49 participating associations with over 5,400 active participants.
The Trust is currently positioned to accept participants from all 50 states. That includes members in both Police and Fire associations.
Please, let your association leaders know that you have an interest in learning more about the RMT. We will gladly send a representative to one of your meetings to provide you with information on how the trust works.
Feel free to call me direct at (530) 588-5117. If you prefer, you can send me an email at CPOAPrez@sbcglobal.net.