Association of Retirees of the IDB

The creation of the Retirees Association of the IDB was conceived by a group of the first retirees with the purpose of representing collectively all those who received a pension from the Bank. Its main objective was the representation of the Association in the Administration, Finance, and Pension Committees of the Retirement Plan, with the right of voice but without vote.

Other important topics of real concern were indexing the cost-of-living adjustments; national gross for retirement computation and income tax reimbursement for taxes on pension payments; the granting of a permanent visa for those retirees and members of their immediate families who could not stay in the United States due to the fact that they held a G-iv visa while in the employment of the Bank; the need to bring our pension plan to par with the plan of other international organization; and the establishment a minimum pension to guarantee a decent living standard for the surviving spouse.

The first meeting of the Board of the Association took place on November 14, 1979. On that date 71 ballots had been received all of them voting to approved the By-laws. Eventually 4 more ballots were received, reaching a total of 75 ballots approving the creation of our institution.

The Board was composed of T. Graydon Upton, President; Joaquin E. Meyer, Vice-President; Clarence M. Pierce, Secretary-Treasurer. Elting Arnold, José R. Chiriboga, Paul Ehrlich, Germán Rovira, Ignacio Tamayo and Walter F. White were Directors.

During that meeting it was decided to send a letter to the President of the Bank notifying him of the official existence of the Association and requesting an early meeting with him and the Administrative Manager to discuss channels of communication and possibilities of cooperating on matters of common concern to retirees and the Bank. President Antonio Ortiz Mena gave his full support to our organization.

The first Board of Directors took the organizational steps for the establishment of our Association with reference to membership dues, the opening of an account with the IDB Credit Union, the assignment of offices, a letterhead for our stationery, the procedure for contacting retirees, the development of relations with other retirees organizations for the purpose of exchange of information and pursuit of common goals.

Subsequently, Presidents Enrique Iglesias and Luis Alberto Moreno have maintained a strong support to our Association.