MONROE CHAMBER WEEKLY REPORT Volume 15, Issue 43

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1 MONROE CHAMBER WEEKLY REPORT Volume 15, Issue 43 Monroe Chamber of Commerce Weekly Report Last week, the Monroe Chamber of Commerce and the City of Monroe hosted a ribbon cutting for Helping Hands Pediatric Day Health Center. The business is located at 409 Washington Street in Monroe. TOGETHER WE RE STRONGER Area High School Students Tour Ouachita Parish Manufacturers High school students throughout Ouachita Parish will have the opportunity to learn more about manufacturing careers on October 27 when several area industries and manufacturers open their doors for tours. All eight Ouachita Parish and Monroe City School high schools are participating in the event. The event is sponsored by the Monroe Chamber of Commerce, the West Monroe-West Ouachita Chamber of Commerce and Louisiana Delta Community College. Students will travel from their school to a designated manufacturer for a guided plant tour. Following the tour, they will travel to one of the Louisiana Delta Community College campuses to tour that facility and to have the opportunity for hands on experience on some of the equipment used in manufacturing. Tours will be hosted by Angus Chemical, Graphic Packaging, Steel Fabricators, Berry Plastic, Gardner Denver Thomas and Bancroft Bag. The program was inspired by Manufacturing Day which is supported by an organization of industry co-sponsors nationwide. It is designed to amplify the voice of individual manufacturers and to create a chorus of manufacturers with common concerns and challenges. One of their biggest challenges is to address the shortage in skilled labor that every industry and manufacturer is facing today. The tour provides an opportunity to connect with high school students and to get them excited about manufacturing careers and to ensure the ongoing prosperity of their industry. For more information on Manufacturing Day, go to or call the Monroe Chamber at October 26, 2015 CALENDAR Tuesday, October 27 from 9:00 a.m. to 1:00 p.m.-manufacturing Day Tours for area high school students. For more information call Sue Nicholson at Tuesday, October 27 at 6:00 p.m.-monroe City Council will meet at Monroe City Hall. Thursday, October 29 at 11:30 a.m.-the Monroe Chamber will host the State of Local Government Luncheon at the Monroe Civic Center. Cost to attend is $25. For more information, please call Daphne at Thursday, October 29 from 4:00 to 7:00 p.m.- Ryan Honda Grand Opening and Ribbon Cutting. The business is located at 1007 Oliver Road. The Ribbon Cutting will take place at 4:30 p.m. Monday, November 2 at 11:00 a.m.-grand Opening and Ribbon Cutting for The Diamond Parlor. The business is located at 1217 North 18 th Street in Monroe. Tuesday, November 3 at 12 noon-the Ambassador s Club will meet at the Chase facility located at 700 Kansas Lane. Guest Speaker is Stephanie Smith, Ouachita Parish Tax Assessor. Cost to attend is $15. Please contact Sarita Daniel at sdaniel@monroe.org to RSVP. Thursday, November 5 at 11:30 a.m. DQ Grill & Chill Grand Opening & Ribbon Cutting. The restaurant is located at 1600 Sterlington Road. Thursday, November 5 at 4:30 p.m. - Bella Blues Designs Grand Opening & Ribbon Cutting. The business is located at 1902 Forsythe Avenue. Friday, November 6 at 9:30 a.m. Target Ribbon Cutting. The business is located at 4103 Pecanland Mall Drive.

2 5854 MONROE CHAMBER WEEKLY REPORT MONROE CHAMBER ACCEPTS NOMINATIONS FOR 2015 RAMBIN-SILVERSTEIN AWARD The Monroe Chamber of Commerce is accepting nominations for the 2015 Rambin-Silverstein Award, which is presented annually to a resident of Northeast Louisiana who has displayed outstanding leadership and service to the community. The nominee does not have to be a member of the chamber. Any resident of Northeast Louisiana who has demonstrated achievement, leadership and service for the benefit of the greater community is eligible for nomination. The final selection is based on the person s contributions to the community over many years of service, evidence of their leadership ability, and evidence of their personal, professional and business integrity. The candidate must have a record of exceptional volunteerism and have demonstrated unselfish dedication to the betterment of Ouachita Parish and Northeast Louisiana. Nomination forms are available at the chamber office at 212 Walnut Street, Suite 100 or by calling All nominations must be received no later than Wednesday, December 30, Last week, the Monroe Chamber hosted a ribbon cutting for Ovation Women s Wellness. The business is located at 1401 North 18 St., Ste. E. Last week, the Monroe Chamber and the City of Monroe hosted a ribbon cutting for Express Employment Professionals. The business is located at 1140 Oliver Road in Monroe. LA Department of Health and Hospitals to Host Behavioral Health Information Session in Monroe Louisiana Department of Health and Hospitals (DHH) is hosting an informational session in Monroe for behavioral healthcare providers regarding the transition of behavioral health services from the Louisiana Behavioral Health Partnerships to Bayou Health - Louisiana's managed care program for Medicaid. A session will be conducted in Monroe on Thursday, October 29 from 12:30 p.m. to 3:00 p.m. at The University of Louisiana at Monroe School of Pharmacy, 1800 Bienville Drive, Room 170, Monroe, LA For more information, please call Jill Hersekorn at Any provider of behavioral health services to Medicaid enrollees must enroll in one of the five Bayou Health plan networks to remain eligible for Medicaid payments. This impacts how and by whom these behavioral healthcare providers are reimbursed for services for Medicaid-eligible individuals. As of December 1, 2015, Magellan will no longer be the statewide management organization for behavioral healthcare under Medicaid. Instead, the five Bayou Health plans: Louisiana Healthcare Connections, United Healthcare, AmeriHealth Caritas of Louisiana, Amerigroup and Aetna Better Health will reimburse providers for behavioral health services sought by Medicaid-eligible individuals. The October 29 session will include a presentation by the Louisiana Medicaid Program about the upcoming transition. Medicaid staff and representatives from the five Bayou Health plans will be available to respond to questions and concerns. "As a catalyst for greater access to quality behavioral healthcare in northeast Louisiana, NE Delta Human Services Authority encourages not only those providers who offer critical mental healthcare services, but all regional healthcare providers to participate in this October 29 session, especially those who serve rural communities," said Dr. Monteic A. Sizer, NE Delta HSA. "This DHH session will help providers even better equip their organizations to provide greater access to citizens who need care." "As a follow-up to the October 29 DHH event, NE Delta HSA will be hosting a follow-up informational session with DHH to further build regional service capacity and rural provider participation," said Dr. Sizer. "We will alert regional providers when this session is scheduled. We want to help ensure that rural healthcare providers get themselves enrolled in the Bayou Health plan system."

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5 APPLY NOW FOR 2016 LEADERSHIP OUACHITA The Monroe Chamber is currently taking applications for the 2016 Leadership Ouachita class. Nominations are encouraged from all segments of the community. Individuals may apply or nominate those they feel best exemplify the philosophy of Leadership Ouachita. The application deadline for the 2016 class is Friday, January 8, Applications may be picked up at the Monroe Chamber of Commerce or interested parties may call Chamber Events Director, Daphne McClish at or for more information. The purpose of Leadership Ouachita is to develop and empower the emerging leaders of northeast Louisiana and help them gain the skills they need to transform the region into the best place to live and do business. Class members engage in a series of sessions focused on education, health care, workforce development, infrastructure and government. The program also provides insight on public decision making, practical and in-depth discussions on public issues pertinent to Ouachita Parish, an expanded knowledge and understanding of the community in which we live, and the opportunity to develop lasting relationships with growing and established leaders in a neutral environment. The class opening retreat is scheduled for Thursday and Friday, February 18 and 19, 2016.

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7 Moore for your Money Lump sum buy out or a monthly pension? Byron R. Moore, CFP If that s the case, perhaps taking the pension offer in a lump sum makes sense. You don t need the income and you have a chance to grow the wealth. Of course, you could also take the monthly pension and save it each month to build wealth. But if you die prematurely (before age 80, for example), your heirs will likely get less than if you d taken the lump sum. Now, for many reading this column, the thought of living on $2,000 per month in retirement sound ridiculously low. So let s assume your number is much higher. You need $8,000 a month to maintain your lifestyle. Question: I ve worked for the same company for most of my career. Now they are offering me the choice between a retirement pension check or a lump sum of money. Which is usually better? Answer: The question you need to ask is, Which option is better for me? The first thing to figure out is how much money you re going to need (want!) after you retire. I find that most people would be happy with a take home number that is close to what they take home now. So sit down with your paycheck stub. That usually backs out all the taxes, employee benefits, insurance and retirement savings. Just for jollies, suppose you get paid $4,000 per month. But after payroll taxes, income taxes, health insurance, 401K contributions and United Way contributions are deducted, you come up with $2,800. You likely spend $2,800 or less each month on your lifestyle. Do you have debts (car notes, house notes) that will be paid off by the time you retire? Great. Suppose you spend $800 on a house note and another $500 on a car note (or two). I m going to leave the $500 in your budget (you probably have not bought your last car), but I ll pull out the $800 that is now going to the mortgage, assuming the mortgage will be paid off by the time you retire. For you, the next question is, What other assets do you have that can produce an income for you? If Social Security pays you $2,000 per month (to keep things consistent with our first example), you ll need income from other sources of about $6,000. And then you ll have to pay taxes on top of all that. Maybe you ve got rental income from houses or buildings you own. But for most, the income will come from investments. If you want to be able to safely withdraw enough from your accounts to have $6,000 per month after tax, you re going to need about $2.5 to $3 million. What I usually find with pension lump sum offers is that, with the lump sum offered, the only way to create a reliable income stream is the buy a guaranteed income annuity with the lump sum. In other words, instead of taking the company s monthly pension offer, you re taking one offered by a private insurance company. If you need the income, the pension is often the best route to take. But it never hurts to get an advisor to check to see if you can get a better deal in the private market place. If you don t need the income now and want to pass the wealth on to your heirs, the lump sum may be worth considering. Either way, make sure you examine all your options carefully and make your decision in light of your overall plan. We re down to $2,000 per month (seriously?). You might find your Social Security retirement check will cover most of that obligation. Taxes are pretty low at this income level. Byron R. Moore, CFP is managing director / planning group of Argent Advisors, Inc. him at bmoore@argentadvisors.com. Write to him at 500 East Reynolds Drive, Ruston, LA or call him at (318) The opinions of any single advisor do not necessarily reflect the opinions of Argent Advisors, Inc. No forecasts can be guaranteed. Argent Advisors, Inc. does not offer tax, insurance or legal advice. The information contained in this column should not be construed as a substitute for personalized investment, tax, insurance or legal advice.

8 MONROE CHAMBER OF COMMERCE 212 Walnut Street, Suite 100 Monroe, LA PHONE: (318) FAX: (318) Website: You are Cordially invited to join the Monroe Chamber of Commerce Ambassadors Club Tuesday, November 3 rd at 12 noon THE MONROE CHAMBER S MISSION IS TO LEAD IN THE CREATION OF AN ENVIRONMENT IN WHICH OUR BUSINESSES THRIVE. The Ambassadors Club will meet at the Chase facility located at 700 Kansas Ln. Guest speaker is Stephanie Smith, Ouachita Parish Tax Assessor. Cost to attend is $15. Please contact Sarita Daniel at sdaniel@monroe.org to RSVP.