Hi Member,We're more than halfway through the summer months, even if summer technically lasts until the autumnal equinox on September 22. We hope you're enjoying your summer and are getting ready for your normal council activities from here on in. |
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Last December, we asked you to send in letters of support of the Massachusetts legislation regarding investment restrictions for fraternal societies. That legislation, which was delayed last year due to the pandemic, has been progressing and we hope will soon be due for a hearing. Can you please write some letters again to help us with our investment options? Here is a sample letter to use as a template for your own letter of support. Freel free to modify the letter with your own words and send your signed letters to the Home Office. We will gather all the letters received and forward them to the Massachusetts legislature. If you need to email them, that will work, too.
There are two sample letters below, one to each of the chairmen of the committee that is responsible for the Fraternal Investment Bill H1164. These letters can be personalized by you, but we'd ask that you keep the letters focused on Massachusetts, and stay away from mentioning any specific event not located in our Home Office state; that will have the greatest impact on our state legislators. Thank you for your help! |
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Dear Chairman Murphy,
I’m writing you in hopes of getting house bill #H1164 “An Act relative to the investments by fraternal benefit societies” on the financial services committee calendar. As a member of the Royal Arcanum, I support this bill and would like you to support it, too.
Our Executive Committee has explained to us how this bill is vital to Fraternal Benefit Societies domiciled within the Commonwealth of Massachusetts. They explained that due to the stipulations of the current law, we have been required to sell over $600,000 from within our stock investments in 2021, not because of additional stock investments but due to the increase in stock value due to gains in the stock market. Our investments are limited to purchases of bonds, which are only providing historically low yields. This bill seeks to update the investment restrictions for fraternal organizations by changing investment restrictions limiting fraternals from investing only 25% of excess surplus in the stock market to 10% of assets. This is in line with many other states in the United States, such as Connecticut, New York, New Jersey, and Pennsylvania.
Fraternal organizations have a long and important history in supporting their members and the community in which they live. We make donations to those in need and charitable institutions, using funds derived from the yields in investments. By amending this outdated investment law, fraternal societies domiciled in Massachusetts will have the ability to at least sustain Investment revenue that is used to help fund the society's initiatives. Due to the continued low interest rates on bonds, our revenue has been greatly impacted by our limited ability to invest outside of the bond market.
I am a proud member of Royal Arcanum, which was founded in Boston in 1877, and I have been active in many charitable endeavors, such as supporting the Jimmy Fund walk -- an event actively supported by Royal Arcanum. That is just one example of the more than 639,000 hours of time volunteered by Fraternals within the Commonwealth of Massachusetts in 2019. Thank you for your consideration.
Sincerely,
Please replace with your name here |
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Dear Chairman Crighton,
I’m writing you in hopes of getting house bill #H1164 “An Act relative to the investments by fraternal benefit societies” on the financial services committee calendar. As a member of the Royal Arcanum, I support this bill and would like you to support it, too.
Our Executive Committee has explained to us how this bill is vital to Fraternal Benefit Societies domiciled within the Commonwealth of Massachusetts. They explained that due to the stipulations of the current law, we have been required to sell over $600,000 from within our stock investments in 2021, not because of additional stock investments but due to the increase in stock value due to gains in the stock market. Our investments are limited to purchases of bonds, which are only providing historically low yields. This bill seeks to update the investment restrictions for fraternal organizations by changing investment restrictions limiting fraternals from investing only 25% of excess surplus in the stock market to 10% of assets. This is in line with many other states in the United States, such as Connecticut, New York, New Jersey, and Pennsylvania.
Fraternal organizations have a long and important history in supporting their members and the community in which they live. We make donations to those in need and charitable institutions, using funds derived from the yields in investments. By amending this outdated investment law, fraternal societies domiciled in Massachusetts will have the ability to at least sustain Investment revenue that is used to help fund the society's initiatives. Due to the continued low interest rates on bonds, our revenue has been greatly impacted by our limited ability to invest outside of the bond market.
I am a proud member of Royal Arcanum, which was founded in Boston in 1877, and I have been active in many charitable endeavors, such as supporting the Jimmy Fund walk -- an event actively supported by Royal Arcanum. That is just one example of the more than 639,000 hours of time volunteered by Fraternals within the Commonwealth of Massachusetts in 2019. Thank you for your consideration.
Sincerely,
Please replace with your name here |
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We are looking to follow up with past scholarship winners. If you or your council has had a scholarship winner in the past, can you drop us a line with their contact information? We would like to follow up with these stellar Royal Arcanum members and hear how they are doing. Many, we know, have moved on from their parents' homes, so we have been unable to follow up with them. Please, send us an email with their contact information.
Thank you! |
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Last newsletter, we introduced the Manual for Council Officers and Members and provided an overview of this resource. We'll dive a bit deeper into it now, this time highlighting Section A, which covers some general information about the Royal Arcanum.
Note that this article is not intended to replicate the information in the manual; it is highlighting the reference information that is available to councils and members. It also provides some updates for those who already have the June 2015 printing of the manual, as any printed information can become outdated over time.
Contact Information
The Home Office contact information matches the information provided at the bottom of this and every newsletter. Please note one update: the mail email contact for the Royal Arcanum is info@royalarcanum.com (the manual lists infor@royalarcanum.com, with an extra "R" before the "@" sign).
Fraternal History
A short history of fraternals explains the reasons fraternals were formed, and what defines a fraternal benefit society. included in that history is the American Fraternal Alliance, of which the Royal Arcanum is the sole remaining founding member (when it was called the National Fraternal Congress of America). The AFA has moved their headquarters, and can best be reached from their website at https://fraternalalliance.org or their new address:
American Fraternal Alliance
PO Box 68700
Indianapolis, IN 46268-0700
A beautiful, brief history of the Royal Arcanum touches on key dates and changes, from its founding on June 23, 1877, through the acceptance of women as members in 1958. It goes on to describe the symbols and signs that are part of our society, and which are kept secret from non-initiated members. "Arcanum" is defined in the dictionary as "secret", after all. There is even a rendering of two of the Royal Arcanum's trademarked logos, noting that use of them requires authorization. Please contact the Home Office should you want to use the logos for your council.
Plans of Protection and Products
The next few sections provide an overview of the value of Royal Arcanum membership and the States and Provinces where we are licensed. We have been growing, and the current list of places we are licensed is on our website.
A brief note on the dividends paid on eligible certificates is followed by a list of the products offered, with a short description of each product, riders that may be available, and a discussion on certificate loans. As this information can change due to new regulations or filings, please see our website or contact the Home Office for the most up-to-date information.
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Has anyone taken vacations this summer? Any chance they brought Roy along for some vacation pictures? Drop us a line and we'll share his adventures in a future newsletter. |
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