EBRI: Individual Account Retirement Plans - IWS Documented News ...

IWS Documented News Service

_______________________________

Institute for Workplace Studies----------------- Professor Samuel B. Bacharach

School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies

Cornell University

16 East 34th Street, 4th floor---------------------- Stuart Basefsky

New York, NY 10016 -------------------------------Director, IWS News Bureau

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Employee Benefit Research Institute (EBRI)

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EBRI Issue Brief 375

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Individual Account Retirement Plans: An Analysis of the 2010 Survey of Consumer Finances [26 September 2012]

http://www.ebri.org/publications/ib/index.cfm?fa=ibDisp&content_id=5112

or

http://www.ebri.org/pdf/briefspdf/EBRI_IB_09-2012_No375_IndvAccts.pdf

[full-text, 28 pages]

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Press Release 26 September 2012

Ownership in 401(k) Plans Continues to Grow, While IRA Ownership Falls
http://www.ebri.org/pdf/PR989.26Sept12.IAs.pdf

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WASHINGTON?Although fewer American families are participating in a retirement plan at work, more

of those with a plan are in a 401(k). At the same time, ownership of individual retirement accounts (IRAs)

is falling, according to a new report by the nonpartisan Employee Benefit Research Institute (EBRI).

Analyzing the four-year period from 2007?2010, EBRI finds that the share of American families with a

member in any employment-based retirement plan from a current employer increased steadily from

38.8 percent in 1992 to 40.6 percent in 2007, before declining in 2010 to 37.9 percent.

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Ownership of 401(k)-type plans among families participating in a retirement plan more than doubled from

31.6 percent in 1992 to 79.5 percent in 2007, and increased again in 2010 to 82.1 percent. But the

percentage of families owning an IRA or Keogh retirement plan (for the self-employed) declined from

30.6 percent in 2007 to 28.0 percent in 2010. In addition, the percentage of families with a retirement plan

from a current employer, a previous employer's defined contribution plan, or an IRA/Keogh declined

from 66.2 percent in 2007 to 63.8 percent in 2010.

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As in the past, EBRI found that retirement plan assets account for a growing majority of most Americans'

financial wealth, outside the value of their home. The median (mid-point) percentage of families' total

financial assets comprised by defined contribution plan assets and/or IRA/Keogh assets (assuming the

family had any) increased from 2007 to 2010, and accounted for a clear majority of these assets:

? Defined contribution plan balances accounted for 58.1 percent of families' total financial assets in

2007, and that share grew to 61.4 percent in 2010.

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? Defined contribution and/or IRA/Keogh balances increased their share as well, from 64.1 percent

of total family financial assets in 2007 to 65.7 percent in 2010. Across all demographic groups,

these assets account for a very large share of total financial assets for those who own these

accounts.

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However, the EBRI report notes that the most recent data, along with other EBRI research, indicate that

many people are unlikely to afford a comfortable retirement. "Americans lost a tremendous amount of

wealth between 2007 and 2010, and the percentage of families that participated in an employment-based

retirement plan and/or owned an IRA decreased as well," said Craig Copeland, EBRI senior research

associated and author of the report.

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However, he added, the percentage of family heads who were eligible to participate in a defined

contribution plan and actually did so remained virtually unchanged during this time. Therefore, despite all

the bad news that resulted from this period, one positive factor should be noted: "Those eligible to

participate in a retirement plan continued to participate?which may help change the likelihood of a lower

retirement standard for many Americans," Copeland said.

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The report is based on the most recent data from the Survey of Consumer Finances (SCF), the Federal

Reserve Board's triennial survey of wealth. The full report is published in the September EBRI Issue

Brief, "Individual Account Retirement Plans: An Analysis of the 2010 Survey of Consumer Finances,"

available online at www.ebri.org

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Concerning IRAs, the EBRI report once again quantifies the degree to which IRA assets are rolled over

from employment-based retirement plans (such as defined benefit pensions or defined contribution

401(k)-type plans), and do not come from new contributions. While regular IRAs account for the largest

percentage of IRA ownership, rollover IRAs had a larger share of assets than regular IRAs in 2010.

Specifically, among total IRA assets, rollover IRAs account for 44.5 percent of assets, regular IRAs 44.1

percent, and Roth IRAs 11.4 percent. Therefore, rollover IRAs account for a larger share of assets than

regular IRAs, while the two together account for just under 90 percent of the IRA assets.

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The report notes that tracking individual-account retirement plans such as 401(k)s and IRAs is important

because traditional defined benefit pension plans have long been declining in the private sector, while

defined contribution retirement plans have increased?a trend that makes it ever-more important for most

private-sector workers to build their retirement wealth through individual-account savings plans.

Consequently, the amount of assets accumulated in these accounts provides an indication of how

prepared?or unprepared?most workers' finances will be to supplement the Social Security benefits they

will receive in retirement.

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The Employee Benefit Research Institute is a private, nonpartisan, nonprofit research institute based in

Washington, DC, that focuses on health, savings, retirement, and economic security issues. EBRI does

not lobby and does not take policy positions. The work of EBRI is made possible by funding from its

members and sponsors, which includes a broad range of public, private, for-profit and nonprofit

organizations. For more information go to www.ebri.org or www.asec.org

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This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.

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Source: http://iwsdocumentednewsdaily.blogspot.com/2012/09/iws-ebri-individual-account-retirement.html

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Former President Clinton gets $2 billion in pledges to tackle world's woes

NEW YORK (Reuters) - Healthcare for athletes with mental disabilities, organic know-how for Indian farmers and solar technology for isolated communities were among the pledges made at former U.S. President Bill Clinton's philanthropic summit, which ended on Tuesday.

With its theme of "Designing for Impact" and an emphasis on improving the lives of women and girls in the developing world, heads of states, business leaders and humanitarians at the eighth annual Clinton Global Initiative made 150 new pledges valued at about $2 billion to tackle some of the world's woes.

The three-day summit, scheduled when world leaders are in New York for the annual United Nations General Assembly, also featured appearances from U.S. President Barack Obama and his Republican challenger Mitt Romney, as well as Egypt's new Islamist president, Mohamed Mursi.

"I am convinced that cooperation, not conflict, will define this century," Clinton said.

The meeting is largely a networking opportunity for some of the world's power brokers to exchange ideas and forge partnerships. It also offers a chance for successful companies to highlight projects that demonstrate social responsibility.

On the opening day, Clinton asked Wal-Mart CEO Michael Duke if the company would consider opening a store in the Libyan capital of Tripoli. Duke noted the company has opened stores in some of the world's more troubled cities, but politely declined the suggestion.

The summit was also a family affair. Clinton introduced his wife, Secretary of State Hillary Clinton, who made remarks. And their daughter Chelsea, a board member, moderated a session called "The Case for Optimism in the 21st Century."

The idea for the summit came from Clinton's frustration with attending conferences while he was president that prompted no action. When the initiative began, corporations tended to show up and write checks to fund humanitarian programs. Now many see philanthropy in terms of investment opportunities.

The pledges will impact 22 million people, the Clinton initiative said. Some of the commitments took the form of donations.

In the Democratic Republic of Congo, Suntech Power Holdings and the GlobalECHO Foundation teamed up to install $250,000 worth of solar panels worth $250,000 at a hospital that treats victims of sexual violence.

"When you hear the stories of what they're dealing with, you can't not help them," said Andrew Beebe, Suntech's chief commercial officer.

(Reporting By Edith Honan; editing by Christopher Wilson)

Source: http://news.yahoo.com/former-president-clinton-gets-2-billion-pledges-tackle-021215062--finance.html

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Young Victor Frankenstein receives an ominous, furry warning in MTV News' exclusive clip from Tim Burton's eerie stop-motion movie.
By Josh Wigler

A scene from Tim Burton's "Frankenweenie"
Photo: Disney

Source: http://www.mtv.com/news/articles/1694310/frankenweenie-exclusive-clip-mr-whiskers.jhtml

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Florida Home Equity Loan Free Helpful Knowledge Base | Exact ...

If you really find this article helpful Give it a PLUS from below and help us to spread it.

You can also find fantastic deals online. Most credit cards and other unsecured loans, high interest rates on hold. home equity loans are a excellent choice when it comes to looking for a money resource in order to pay off debt or make a large buy. Once the term of the loan ends, the homeowner may need to pay what is called a balloon payment. The higher the LTV, the more you can potentially borrow.

Yes, gone are those days when we have to search endlessly for California Home Equity Loan information or other such information like loan, home equity, fixed home equity loans or even home equity loan interest rates. All you need to do is use the rate calculator to help you choose if it is going to be a payment that you can keep up with. The convenience of one payment is one reason why Ft. After all, it?s probably the only sensible financial product out there that can lower your debt without affecting your credit. People who still have equity left in their homes can use that reserve to buy and insure their dream classic car.

Owing your own home is not simple these days, and in several condition certain people find it tough to deal with all the financial problems involved with it . While it may seem like common sense to be able to get a loan on the value you?ve built up in your own home, getting a home equity loan with a poor credit score is usually not simple. Excellent real estate houses located in the growing areas in the capital providers of loans used to a high rating to 125 percent of it. If you need more information about Georgia Home Equity Loan, and be more informed. Before applying for a home equity loan, it?s vital to realize what a home equity loan entails.

Lenders will point to the low introductory interest rate as a selling point but that is just to get you to sign. You do not necessarily have to use this line of credit. Once your refinancing has been approved and loan contract signed, your original loan will be paid off by your lender. When you receive a quote, most lenders provide an option to end the application. It is also called a line of credit.

One program that is gaining popularity is the 125% home equity loan. The very first is your ability to get excellent amount of cash for a very low interest rate. Home equity loans will normally have a fixed interest rate where with a HELCO the interest rate is normally a variable rate. To do so, just subtract your current mortgage principal from your estimated value. The repaid amount is spared from the interest and only the remaining amount is chargeable with an interest.

Land, instead, is always acquiring more value, with some very rare exceptions. Lenders will require a lapse of time of two to four years from the discharge of the bankruptcy before even considering granting you a home mortgage. Try to make your own household items, rather than spending money on them. By refinancing your home equity loan you can lower your interest rate and finance for a longer or shorter term. Remember too that there is flexibility with your refinancing.

Don?t forget to realize that this article can cover information related to Florida Home Equity Loan but can still leave some stones unturned. Note that if you do not have access to your home?s appraised value, you can just use an estimate based upon neighborhood values. This means with the new credit that you establish, following the discharge from bankruptcy, you must make all payments on time and according to the payment contract. There are no fixed interest rates in a home equity loan. The owner signs the ?loan documents? only to find out that they have really signed the property over to the contractor.

In places like the US, homeowners may be able to deduct the interest the earn on their income taxes. You have really helped to trigger off a race to get the remaining land, before the cost gets too high. It is vital to know exactly what the term ?home equity? really means. Those of you who are among the ranks of the self-employed may have already learned that it is more hard to get a loan ? let alone a home equity loan. This can make a significant difference in the amount of interest you will pay in total.

Remember, also, to leave 20% of the value of your home?s equity untouched in order to not have to pay private mortgage insurance. As an example, you own a house and it is worth $150,000 from a professional appraiser report or the local realtor ran some comparable property sales for you. those who have a excellent track record of paying back on time what they have borrowed. Equity can simply be understood as the monetary value of something you own after you deduct the amount of outstanding loan you have on it. Now, take it simple, do not mix the cash.

You have to be sure that the agreement has all the signs of being legit. It is not hard to turn a worn out item of clothing into something that looks and feels new.
home equity loan

Source: http://www.exactarticle.com/florida-home-equity-loan-free-helpful-knowledge-base.htm

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Over 500 Boots pharmacists trained to give wider cancer support

Macmillan Cancer Support and Boots UK have used their partnership to train over 500 Boots Macmillan Information Pharmacists, with the aim of increasing cancer patients? access to local support and services.

The two organisations began their three-year partnership in 2010 to try and connect the wider community with Macmillan?s support services.

A recent YouGov survey of 1,001 adults diagnosed with cancer a year ago or more, found that a third of people affected by cancer do not believe they have received enough support and information outside of their healthcare team (which does not include pharmacists). In a bid to address this gap, Boots UK and Macmillan have provided training to participating pharmacists as part of their continuing professional development. These Boots Macmillan Information Pharmacists will be based in Boots stores across the country.

This is the first time the role of community pharmacists has been extended to provide this type of cancer assistance, according to Boots UK and Macmillan. They believe it demonstrates the wider role that pharmacy can play in provision of cancer services.

Peter Bainbridge, director of pharmacy services at Boots UK, said the partnership means that in addition to providing medicines advice, the pharmacists can offer guidance and signpost people to Macmillan services related to the wider issues affecting those living with cancer.

Rosie Loftus, lead GP adviser to Macmillan, believes that as the number of people in the UK living with or surviving cancer increases the demand for cancer services means pharmacists are well placed to assist with the provision of information and support alongside existing primary care services. "This is an example of the ways in which the healthcare community can work collaboratively," she said.

The YouGov survey found that 45 per cent of respondents would be comfortable talking to their pharmacist about cancer and 92 per cent believed that information received outside of their healthcare team had a positive impact on their emotional, physical or financial wellbeing.

Source: http://feeds.pjonline.com/~r/pjonline/news/~3/JFO78QCsbck/over_500_boots_pharmacists_trained_to_give_wider_cancer_support

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Topical NSAIDs provide relief from arthritis pain | Human Health and ...

September 22, 2012 5:24 pm You are here:Home Medicine Topical NSAIDs provide relief from arthritis pain Tags:?Effectiveness, health-behavior, medicine, Neuroscience, News, placebo, reference, Research, Science, sheena-derry, simply-perceive, social-bookmarking, Source

Source: http://www.humanhealthandscience.com/topical-nsaids-provide-relief-from-arthritis-pain-2-2/basic-sciences/neuroscience

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Pillar To Post Acquires Six New Franchisees in the Month of ...

North America?s Largest Home Inspection Company is Proud to Welcome a New?Class of Home Inspectors this Month

September 21, 2012 // Franchising.com // Tampa, FL - Pillar To Post recently announced their newest class of franchisees, which includes six new locations spread from the West to East coast. Since January, Pillar To Post has opened almost 40 new locations, a record year for the franchise after adding 20 new locations to the system in 2011.

?It?s always exciting to celebrate this milestone with our new franchisees,? said Dan Steward, president and CEO of Pillar To Post. ?Our proven training program and strong business model prepare them for success as home inspectors and allow them to provide their communities with stellar services. We always look forward to hearing their positive feedback.?

The new September franchisees include Eric and Judi Withem serving Sacramento, Calif.; Anthony Pryor in Oakland, Calif.; Bruce MacDermott also serving Oakland, Calif.; Mark Loeb in Seminole County, Fl.; Kyle Rupp in Lititz, Pa.; and Timothy Evans in Berks County, Pa.

As the housing market continues to improve, the need for home inspectors is stronger than ever. In fact, according to a recent survey conducted by the American Society of Home Inspectors, 88 percent of all homeowners believe that home inspections are a necessity prior to purchasing a home, not a luxury. These findings suggest that home inspection companies such as Pillar To Post are positioned for continued growth and increased demand.

About Pillar To Post

Founded in 1994, Pillar To Post is now the largest home inspection company in North America, located in 45 states and 8 Canadian provinces, with over 400 franchisees. The company expects to more than double that number in 2012; long-term plans include adding 500-600 new franchisees over the next five years. Pillar To Post ranked 215 on Entrepreneur Magazine?s 2012 Franchise 500 rankings. For more information, please visit www.pillartopostfranchise.com.

Media Contact:

Sanderson & Associates, Ltd.
Courtney Thomas
312-829-4350
courtney@sandersonpr.com

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Source: http://www.franchising.com/news/20120921_pillar_to_post_acquires_six_new_franchisees_in_the.html

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