| 2007 Retirement Confidence Survey: Many American Workers See—But ...
WASHINGTON--(BUSINESS WIRE)--A large percentage of American workers see that the U.S. retirement system is going through major changes, but many are not taking steps that are likely to leave them well-positioned for a comfortable retirement, according to the 17th annual Retirement Confidence Survey (RCS). The survey, released today, is sponsored by the nonpartisan Employee Benefit Research Institute (EBRI) and Mathew Greenwald & Associates, with underwriting support from the Principal Financial Group®. The RCS, begun in 1991, is the country's most established and comprehensive study of the attitudes and behavior of American workers and retirees toward all aspects of saving, retirement planning, and long-term financial security. The full report is available online at www.ebri.org Highlights include: The 2007 RCS finds pension-plan changes by employers have left nearly half of workers less confident about the benefits they will receive from a traditional pension plan, but that those experiencing a decline in retirement benefits often fail to react constructively.
Tommie Brooks Named Symetra Financial's Chief Actuary
BELLEVUE, Wash., March 26 /PRNewswire/ -- Symetra Financial announced today that Tommie Brooks has been named vice president and chief actuary. Brooks, who has been with the company for 15 years, will be the senior manager in charge of actuarial functions and guide the company's product pricing strategies, insurance risk analysis and reserving. Brooks will assume leadership of the actuarial division from Margaret Meister, Symetra's chief financial officer and prior chief actuary. Previously, Brooks served as managing actuary for Symetra's life insurance subsidiaries. Brooks began his career with Symetra in 1992 as an actuarial student in the Retirement Services division, and later went on to hold several managerial positions with actuarial teams throughout the company. He attained the Fellow of the Society of Actuaries in 1998 and is a graduate of Central Washington University.
CNB Financial Corporation Holds Annual Meeting
CLEARFIELD, Pa., April 17 /PRNewswire-FirstCall/ -- CNB Financial Corporation shareholders and CNB Bank each held separate annual meetings on April 17, 2007. In the CNB Financial Corporation meeting, four incumbent directors were re-seated for a term of three years. They were: Dennis L. Merrey, William R. Owens, Deborah Dick Pontzer and Charles H. Reams. These directors were elected to serve the board until the Annual Meeting in the year 2010. The following Corporation directors retained their positions but were not standing for election this year: Joseph B. Bower .
Large rockslide closes McClure Pass for week
CARBONDALE — A massive rockslide early Wednesday morning closed Colorado Highway 133 over McClure Pass, and it likely will remain closed for a week or longer, according to the Colorado Department of Transportation. The slide happened at approximately 6:30 a.m., about 38 miles south of Carbondale, on the south side of the pass, department spokeswoman Nancy Shanks said. "It was as big as a Greyhound bus," she said, and totaled about 2,000 cubic yards of rock and debris. The largest boulders measured 15 feet high and 100 feet long, Shanks said. Maintenance crews and contractors will work to clear away rockfall material and stabilize the mountainside to prevent further rockfalls, she said. "Once we complete this work, we’ll evaluate the damage to the rock face and to the highway before we open a lane," said CDOT Deputy Maintenance Superintendent Del French.
GUEST COLUMN Tax law changes that affect your pocketbook
There's an old joke about the accounting profession that's been around the block a few times: If an accountant's spouse cannot sleep, what does she or he say? Tell me about your day at work. Sure, it's a stereotype, and yes, accounting can be exciting, but the fact of the matter is that in the public consciousness, accounting and tax law do not carry the same sizzle as Colts versus Patriots, the season premier of 24 or red carpet buzz. However, nearly every year Congress passes laws that directly affect many taxpayers. Very often, these changes can benefit individuals and their families, and in 2006, Congress enacted two such laws the Tax Increase Prevention and Reconciliation Act of 2005 and the Pension Protection Act. The Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA) was passed in May 2006 and includes many provisions, including an extension through 2010 of the reduced rates on capital gains, as well as an increase in alternative minimum tax exemption levels.
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