Sarah Taddeo Rochester Democrat and Chronicle Published 1:01 PM EDT Oct 16, 2018 Xerox Corp. will end its health insurance subsidies for non-union retirees by the end of the year, according to several letters received by former workers at the document technology company. Maria Leonardo, 61, of Perinton, received a version of this letter on Oct. 3, alerting her that Xerox will end its health insurance subsidy that covers a little over half of her yearly health insurance premiums, she said. There appears to be multiple versions of a letter about health insurance changes being sent to a group of retirees. Leonardo voluntarily retired from a three-decade stint in management at Xerox in 2015 at age 58, after the company told employees that their health insurance would be subsidized after Dec. 31 of that year. “I jumped at the opportunity,” said Leonardo. “That was 99 percent of why I quit. You entice me with a carrot, I take it, and now you’re telling me … [Read more...] about Xerox to cut benefits for non-union retirees
Sponsored retirement plans for non employees
PONTE VEDRA BEACH, Fla., Sept. 26, 2018 (GLOBE NEWSWIRE) -- The Total Rewards Association of South Florida (TRASF) will host the 2018 Total Rewards Conference October 18, at the Florida International University Kovens Conference Center in Miami, Florida. The one-day event will attract representatives from over one hundred organizations committed to fostering education and the exchange of information among compensation and benefits practitioners and policy makers. Attendees will include leaders in financial services, food service, healthcare, technology, hospitality, insurance, manufacturing, non-profit, retail, utilities and public and government agencies. Fulcrum Partners, a nationwide executive benefits advisory, is proud to be among the event’s sponsors. Kristine Kopsiaftis Lampert, Fulcrum Partners Managing Director, is based in Delray Beach, Florida, and serves both a local and a nationwide clientele. Kristine said, “Fulcrum Partners is excited to support this … [Read more...] about Fulcrum Partners Sponsors TRASF Total Rewards Conference
VAN LOON Ask any benefits professional and he or she will likely tell you the question most frequently asked by benefit plan sponsors is: “How long do I have to keep these old plan documents?” The answer to that question depends whether the benefit plan is subject to federal law (the Employee Retirement Income Security Act or “ERISA”). Most benefit plans sponsored by private (non-governmental) employers other than churches are subject to ERISA, including plans sponsored by nonprofit entities. For those plans, some records must be maintained for at least six years, while others must be maintained so long as the plan is in existence and for a period of time after the plan has been terminated. The basic rules. There are two primary records retention rules for private employer benefit plans. The first rule requires the documents needed to complete the annual report (Form 5500) filed with the Department of Labor (as well as the report itself and all … [Read more...] about LAW ELEVATED — Benefit plan records retention: How long is enough?
If you are an investor, I highly recommend that you listen to a recording of a telephone conversation between a fraudster and a victim -- an actual fraud caught in action. In the recording, which was made by the victim, the fraudster is posing as a compliance officer from the U.S. Securities and Exchange Commission. The most disturbing aspect of the call is that the fraudster is pretending to be helping the victim, in this case, to confirm a trade.Here is a partial transcript:"I'm a senior compliance officer with the Securities and Exchange Commission … my job is to simply verify and confirm the order ... so I am confirming a buy order from Mr. [name of person], who is a portfolio manager of [name of firm] … in accordance to the regulations that are set forth by the Securities and Exchange Commission on the U.S. markets, Mr. [name of investor], for the protection of both parties, what I'm going to do is record the details of the trade. It goes on file as a voice audio … [Read more...] about Retirement planning: Fraudsters are posing as SEC regulators
iStock Overview Because most households have relatively fixed and expected expenses each month, a single financial shock— such as a major car repair or a sudden loss of income—can make meeting those obligations more difficult. When Americans experience these unexpected expenses, most look to multiple sources of money. Household savings are designed for such emergencies but are often insufficient to completely cushion an income loss or the cost of unexpected repairs on a home or vehicle. A 2015 report by The Pew Charitable Trusts gives a sense of how Americans say they would respond to a hypothetical scenario involving a financial emergency: Some 78 percent said they would use their savings and checking accounts, and 49 percent would turn to credit cards. About a quarter, though, would look to defined contribution retirement accounts, such as a 401(k), a 403(b), or an individual retirement account (IRA). The availability of early withdrawals from certain retirement … [Read more...] about Financial Shocks Put Retirement Security at Risk