Pension funds shift to Bonds- Is it permanent?

I am a fan of the Bloomberg Chart of the day.  Last week they had a most interesting one that showed the percentage of stocks in pension plans has dropped 12% since 2007, to 46%, while Bonds have risen from 32% to 42% in the same time.  Since a major portion of the stock market is comprised of largepublic  pension …

Aetna to Buy Coventry Health Care for $5.7 Billion

Aetna to Buy Coventry Health Care for $5.7 Billion By MICHAEL J. DE LA MERCED 6:52 a.m. | Updated Aetna announced on Monday that it would buy Coventry Health Care for about $5.7 billion in cash and stock, in a move by the insurer to push further into government-backed programs like Medicaid. Under the terms of the deal, Aetna will …

Congratulations to the CFO of the Year

Congrats go our to Jerry Dresel of DeJana Trucking & Equipment Companies of Kings Park, N.Y. He is being Honored as CFO of the year (private company, under $50 million) by the 2012 Long Island Business News.  We worked with Jerry at his former employer many years ago, and this award is testament to everything we learned about him in …

Social Security not deal it once was for workers

August 7, 2012 // by Stephen Ohlemacher // Leave a comment People retiring today are part of the first generation of workers who have paid more in Social Security taxes during their careers than they will receive in benefits after they retire. It’s a historic shift that will only get worse for future retirees, according to an analysis by The …

Premium hikes don’t bother employees

Benefitspro By Jenny Ivy July 26, 2012 Despite rising premiums and out-of-pocket costs, employees are generally satisfied with their health plan. “I thought that was a pleasant surprise,” said Helen Darling (right), president and CEO of the National Business Group on Health, referring to the number of respondents (35 percent) who are more satisfied with their coverage compared to three years …

Employers post most jobs in four years

By Christopher S. Rugaber AP August 7, 2012 WASHINGTON (AP) — U.S. employers posted the most job openings in four years in June, a positive sign that hiring might pick up. The Labor Department said Tuesday job openings rose to a seasonally adjusted 3.8 million in June, up from 3.7 million in May. That’s the most since July 2008. Layoffs also …

Some Plans Deny Pregnancy Coverage For Dependent Children

Kaiser Health News, By Michelle Andrews Aug 06, 2012 The health care overhaul provides a safety net for young adult children, who can now stay on their parents’ health plans until they reach age 26. But it doesn’t guarantee that their parents’ plan will cover a common medical condition that many young women face: pregnancy.   Group health plans with …

U.S. Officials Brace for Huge Task of Operating Health Exchanges

By ROBERT PEAR Published: August 4, 2012 WASHINGTON — Obama administration officials are getting ready to set up and operate new health insurance markets in about half the states, where local officials appear unwilling or unable to do so. The markets, known as exchanges, are a centerpiece of President Obama’s health care law, and running them will be a herculean …

The Board Institute Launches New Fiduciary Evaluation Tool

PHOENIX, June 1, 2012—The Board Institute, Inc., in collaboration with a consortium of leading fiduciary experts, has released The Fiduciary Board Index, which allows boards of directors to both assess the strengths of their investment policies and highlight areas for improvement. The content of this unique, new evaluation and education tool was developed in collaboration with fi360, CEFEX, and Cambridge …

Loan Defaults Sap $37B From 401(k)s Each Year

July 17, 2012 — Nearly two in 10 individuals, or 18.5%, have taken a loan from their 401(k) plan, Navigant Economics said in a policy brief. — Roughly 10% of these loans default each year, draining $37 billion from 401(k) balances, Navigant said, citing 2005-08 data from the Financial Literacy Center. Many of these defaults, also known as 401(k) leakage, …