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The D. Jack Mahuron Education Fund was established at the Washington County Community Foundation to encourage educators and staff to teach in innovative ways.  This year, the fund has awarded several teachers in the county school corporations approximately $4300.00.

Melissa Nicholson’s West Washington Elementary School class will be studying heritage through novel study, STEM activity, and family involvement to research a pilgrim that teaches life lessons and creates a sense of belonging.

Travis Daily’s East Washington Middle and High School library services will be utilizing game-show style props and equipment to create engaging, interactive learning environments.  They will also be utilizing new green screens and lighting equipment to increase their digital literacy hub to provide students with access to tools for video production, presentations, and other digital projects.

Pre-K students in Kimberlee Jaurequi’s class at East Washington Elementary School will be playground taxi drivers to each other by purchasing a tricycle taxi that will provide them an opportunity to develop motor skills, communication skills, and social emotional learning and creativity.

Sue Shipman and Bri Adams will have students flipping for fun with the purchase of new gymnastic mats to support student engagement and development at East Washington Elementary School.

The Bradie Shrum STEAM classroom dynamic duo of Crystal Mikels and Emily Johnson have teamed up to purchase a Tower Garden to give students the opportunity to plant seeds, watch them grow, and take care of the seedlings and plants while observing and documenting the plant growth process.

Logan Cockerham’s Bradie Shrum Elementary 5th grade classroom will be enhancing their literacy skills through Storybird to improve reading engagement and literacy skills among special education student by integrating digital tools into the classroom.

Students in Lesia Ellis’ 2nd grade East Washington Elementary School class will be sharpening their artistic skills by creating paintings to accompany reading series and other class projects.

Jennifer Stahl’s West Washington 7th grade Language Arts students will be enhancing their reading series by creating Lego sculptures as a companion piece to their current material by creating what they saw as the most important scene in the story.

All West Washington School Corporation students that need crisis counseling and help dealing with anxiety, depression, and anger issues will have the opportunity through Maria Burks’ office to utilize supplies for those needs.  Students will can also perform anxiety and stress releasing activities in Jennifer Schook’s office with the addition of art supplies.

Washington County Community Foundation is a nonprofit public charity established in 1993 to serve donors, award grants, and provide leadership to improve Washington County forever

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Grants totaling over $55,000.00 were awarded to non-profit organizations serving Washington County by the generous donors of the Washington County Community Foundation for the Fall 2024 grant cycle.  Grants are awarded from the Foundation’s Touch Tomorrow Funds, which were established by several outstanding donors.

Washington County Helping Hands was awarded a $3455 to assist in purchasing a new HVAC system to replace the extremely outdated system at the Helping Hands House.

Dare to Care will once again be filling school pantries thanks to a $10,000 grant to provide needy students necessary nourishment.

Small Group Tutoring will be available through CAST thanks to a $7580 grant to hire six individuals to provide the tutoring to students that are struggling with reading and math.

A $10,345 grant has been awarded to Washington County Historical Society which will enable them to update technology and digitize historical documents including old newspapers, genealogical research records, and books.

Jackson Township VFD has been awarded a $13,594.71 grant to purchase rope and water rescue equipment to be used throughout Washington County and surrounding areas.

A $6,225.00 grant has been awarded to The Warming Station in order for them to receive their 501c3 nonprofit status as well as providing needed supplies to the center as well as patrons of the center.

Washington County Community Foundation is a nonprofit public charity established in 1993 to serve donors, award grants, and provide leadership to improve Washington County forever

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Each year the Internal Revenue Service (IRS) reminds taxpayers over age 73 that they should take a required minimum distribution (RMD) by December 31.

The one exception is for IRA owners who turned age 73 in 2024. These individuals may delay their first RMD until April 1, 2025. However, if they delay the first RMD, they will also need to take a second RMD by December 31, 2025.

RMDs are generally required for most qualified retirement plans. They apply to three types of IRAs: Individual Retirement Arrangements, Simplified Employee Pension (SEP) IRAs and Savings Match Plans for Employees (SIMPLE) IRAs.

The RMDs also apply to traditional 401(k), 403(b) and 457(b) plans. An exception to the RMD withdrawal requirement is a Roth IRA, Roth 401(k) or Roth 403(b) – there are no 2024 distribution requirements for these plans if the original owner is living.

Most taxpayers take the RMD based upon the Uniform Lifetime Table in IRS Publication 590-B. This table assumes there is a beneficiary 10 years younger than the IRA owner and calculates a distribution amount based on both ages. If the IRA owner has a spouse more than 10 years younger, a special calculation is applicable.

Owners of multiple IRAs must calculate the RMD for each plan. However, the owner can elect to withdraw the total RMD amount from any IRA plan.

Some employees over age 73 who are still working and are not major owners of a business may be able to defer RMDs until after retirement. You should consult your tax advisor if this exception applies to you.

Many online calculators are available to determine your RMD. Most large financial companies offer an online determination of the correct amount. RMDs start at approximately 3.7% of the December 31 IRA balance. They increase each year after age 73. There are also online worksheets on IRS.gov that may be helpful.

The IRS released new IRA distribution tables for 2022 and subsequent years. The new tables reflect longer life expectancies and RMDs are somewhat reduced.

Editor’s Note: An excellent way to fulfill an RMD is to give part or all of the IRA payment to a qualified charity. Qualified charitable distributions (QCDs) for individuals over age 70½ may fulfill part or all of your RMD. The QCD is a transfer directly from the IRA custodian to a qualified charity. For 2024, you can transfer up to $105,000, which is the maximum annual limit and is indexed for inflation. It is important to act quickly if you plan to do a QCD this year. Your QCD must be completed by December 31, 2024.

What is the best way to compare Medicare Part D prescription drug plans? My Part D premium is increasing in 2025, and I would like to use the fall open enrollment period to find a more affordable plan.

It is a good idea to compare your Medicare coverage options this fall. Many Medicare beneficiaries with Part D coverage can lower their prescription drug costs by shopping among plans each year during the open enrollment season, which runs from October 15 through December 7.

With some research, you could find another Part D plan in your area that covers the drugs you take with fewer restrictions or with lower costs. While you are shopping, keep in mind that the Inflation Reduction Act will cap annual out-of-pocket costs at $2,000 for all Medicare Part D beneficiaries.

Here are some tips and tools to help you shop and compare Part D plans.

Plan Finder Tool

You can easily shop for and compare all Medicare drug plans in your area and enroll in a new plan online. This is a very convenient option and takes only a few minutes.

To get started online, go to Medicare’s Plan Finder Tool at Medicare.gov/plan-compare. You can do a general search on the right side of the page, under the title “Continue without logging in.” If you wish to save your drugs and pharmacy information, you can log into or create a Medicare account on the left side of the page.

To begin finding plans on Medicare’s Plan Finder, type in your ZIP code and choose the type of coverage you are looking for. You will also be asked to enter information on the drugs you take, the pharmacies you use and whether you are interested in a mail order option.

The Plan Finder will display results for plans in your area. Be aware that a plan may not cover all the drugs you take, but it may cover alternatives. It will also tell you if the plan has a deductible and the amount of the monthly premium. 

Initially, the plans will be sorted by “lowest drug and premium cost” for the year. This is the closest estimate to what you may pay out of pocket for your Part D coverage for the year. You can select “plan details” to find out more specifics about coverage, including any coverage restrictions that might apply to your drugs. Before enrolling, it is a good idea to call the plan directly to confirm any information you read on Plan Finder since information found online may not be current.

If you need help, contact Medicare at 800-633-4227 and representatives will assist you with finding your plan options over the phone. You may also contact your State Health Insurance Assistance Program (SHIP), which provides free and unbiased Medicare counseling. To find a local SHIP counselor call 877-839-2675 or see ShipHelp.org.

Any changes you make to your coverage will take effect January 1, 2025. If you take no action during open enrollment, your current coverage will continue next year.

Extra Help

If you are low income or need assistance paying for your medication, you may be eligible for Medicare’s Extra Help program. The program is a federal low-income subsidy that helps pay Part D premiums, deductibles and copayments.

To be eligible for Extra Help, your annual income must be under $22,590 or $30,660 for married couples, and your assets (not counting your home, personal possessions, vehicles, life insurance policies or burial expenses) must be below $17,220 or $34,360 for married couples. For more information or to apply, call Social Security at 800-772-1213 or visit SSA.gov/Medicare/part-d-extra-help.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living” book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization’s official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.

 

Published October 11, 2024

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