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December 7, 2012
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Financial and wealth management news for the retirement community

  Top News 
  • IBM will shift 401(k) matches to year-end lump sum
    IBM says it will begin making its matching contribution to workers' 401(k) plans in a lump sum in December, instead of twice monthly. Workers who leave the company prior to Dec. 15 will not receive the employer match for that year. Financial planners say the change takes away the investment advantage of purchasing securities over time instead of all at once. IBM's cost-saving strategy could prompt other large employers to follow suit, experts say. Bloomberg Businessweek (12/7), The Wall Street Journal (12/6) LinkedInFacebookTwitterEmail this Story
The Key To Positive Cash Flow
Every business is cyclical with cash flow ups and downs. The key is to find a way to keep the cash coming in as predictably as possible. Seem impossible? Well it's not. There are systems and processes that make it easier to collect the cash you've earned so your small business can grow. Learn how these small-business owners set up their businesses for success.

  Industry Update 
 
  • Poll finds a desire to keep up with peers in savings
    More than half of adults surveyed by ING Retirement Research Institute said that knowing other adults like them have saved more for retirement would spur them on to greater savings. Respondents cited retirement savings as an important benchmark among peers more often than salary or material possessions. BenefitsPro.com (12/6) LinkedInFacebookTwitterEmail this Story
  • Don't forget the retirement crisis, Harkin says
    Sen. Tom Harkin, D-Iowa, says the "fiscal cliff" is overshadowing the ongoing crisis of Americans' insufficient retirement savings. Harkin said he plans to introduce a bill to create a new type of pension plan with universal access, and that he will push to increase Social Security benefits by $65 a month. AdvisorOne (12/6) LinkedInFacebookTwitterEmail this Story
  • Battle continues over R.I. pension reform
    Rhode Island officials and public workers' unions continue to fight over sweeping changes to the state's public pensions adopted last year. This time the battle is in court, where the unions are challenging the constitutionality of the changes. The outcome could influence other states seeking to change their pension systems to reduce costs. GoLocalProv.com (Providence, R.I.) (12/7) LinkedInFacebookTwitterEmail this Story
  • Study: Higher Medicare eligibility age may have far-reaching impact
    A Republican proposal to increase the Medicare eligibility age to 67 could result in "surprising ripple effects," a Kaiser Family Foundation study says. Monthly Medicare premiums could increase if younger participants are left out of the pool, according to the study. Meanwhile, premiums for private coverage offered under the Affordable Care Act and employer costs for company insurance plans could increase if 65- and 66-year-olds opt to continue their coverage under those plans, according to the study. BenefitsPro.com/The Associated Press (12/6) LinkedInFacebookTwitterEmail this Story
How to Achieve IT Agility: A Survival Guide for IT Decision Makers
When business teams add new apps and services to already-strained networks, IT departments are accountable for making everything work. Is your team ready for this challenge? Read this eGuide to learn how IT teams are automating their networks, why they're utilizing Ethernet fabrics and SDN, and what success looks like as they regain network control and business relevance.

  Financial Literacy 
  • Iowa students flock to financial-literacy class
    Ames High School in Iowa offers a financial-literacy class that is so popular that the school keeps adding sections of the course to accommodate interested students. Students learn about budgeting, spending, the job market and other topics, and they create a presentation for students and parents on a financial-literacy topic of their choice. WHO-TV (Des Moines, Iowa) (12/6) LinkedInFacebookTwitterEmail this Story
  On the Economy 
  • How baby boomer retirements change the economy
    Baby boomers' retirements are reshaping the U.S. economy, and policy changes must adapt to that reality, write Kenneth Baer and Jeffrey Liebman, both former Office of Management and Budget executives. Spending on Medicaid, Medicare and Social Security, for example, is growing in large part because boomers are retiring. In addition, the dynamics of the labor market are different now that boomers are exiting. The New York Times (tiered subscription model) (12/6) LinkedInFacebookTwitterEmail this Story
  • U.S. economy added 146,000 jobs in November
    The unemployment rate fell to 7.7% as the U.S. economy added 146,000 jobs in November, according to the Labor Department. Consensus estimates from economists had forecast a gain of 93,000 jobs and an unemployment rate of 7.9%. CNBC (12/7) LinkedInFacebookTwitterEmail this Story
  Building Your Practice 
  • How to handle expensive employee mistakes
    When an advisory-firm employee makes a costly error, it may be tempting to dock pay, but that approach can be legally risky and isn't especially effective, writes Kirk Hulett of Securities America Financial. Hulett suggests a multi-step approach to figuring out what went wrong and how to correct the problem. AdvisorOne (12/6) LinkedInFacebookTwitterEmail this Story
  • Develop a referral strategy that works for you
    Obtaining referrals can be challenging, but they are an essential tool, Russ Wagner writes. He advises grouping clients into categories, separating out the clients you enjoy working with and who serve as advocates for you. Develop and practice a referral process on acquaintances before using it on clients, Wagner suggests, and host events concentrating on a few clients at a time to build relationships. National Underwriter Life & Health (12/5) LinkedInFacebookTwitterEmail this Story
  SmartQuote 
Freedom lies in being bold."
--Robert Frost,
American poet


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