Weekly Economic Update for January 23, 2012

  WEEKLY ECONOMIC UPDATE     WEEKLY QUOTE “Do you know the difference between education and experience? Education is when you read the fine print; experience is what you get when you don’t.” – Pete Seeger     WEEKLY TIP Check your credit report annually for errors. (They are not uncommon.) Under federal law, you are entitled to a free annual credit …

401k plan documentation- 2 case studies

A recent court decision about the importance of documenting plan decisions bear review.  In George vs Kraft Foods Global, Inc, the appeals court found that while it appeared that the plan sponsor may have made decisions related to certain transactions, that they failed to document those decisions.  In the same case, the court found that – not having periodically solicited comeptive …

User-friendly health plan summaries at risk

By RICARDO ALONSO-ZALDIVAR Associated Press Thursday, January 26, 2012   WASHINGTON — Consumer groups are scrambling to salvage a popular provision of President Barack Obama’s health care overhaul that suddenly seems to be in question. This time it’s not Republican opposition they’re worried about, but the White House itself. At issue is a requirement that health plans provide simple, standard …

EBRI: PPACA Helped Young Adults

January 10, 2012 Paul Fronstin has found evidence that the Patient Protection and Affordable Care Act of 2010 (2010) has done some Americans some good. Fronstin, a researcher at the Employee Benefit Research Institute (EBRI), Washington, has published the evidence in a look at the effects of the PPACA young adult health insurance requirements on U.S. residents ages 19 to …

Weekly Economic Update for January 16, 2012

  WEEKLY ECONOMIC UPDATE     WEEKLY QUOTE “Sweet are the slumbers of the virtuous man.” – Joseph Addison     WEEKLY TIP If your monthly bank statement comes with a fee disclosure, it may be a big hint that fee hikes are coming your way.     WEEKLY RIDDLE Create a 13-letter word using all 13 of the following letters: O A …

States File Brief in Support of Health Reform

January 17, 2011 (PLANSPONSOR.com) – California Attorney General Kamala D. Harris has filed a friend-of-the-court brief in the U.S. Supreme Court supporting the constitutionality of federal health care reform and urging the high court to uphold the law.     Harris, joined by 12 other attorneys general, argued in the brief that the Constitution gives Congress broad powers to regulate …

Wide Range of 401k Plan Fees

Book Reveals Wide Range of 401(k) Plan Fees PlanAdviser.com News and Opinions, January 18, 2012 January 17, 2012 — The average total plan cost for a small 401(k) plan (100 participants) is 1.3%.  — According to the 12th Edition of the “401k Averages Book,” the average total plan cost for a large retirement plan (1,000 participants) is 1.08%. The study …

I am proud to be a SCORE mentor in South Carolina.

January 13, 2012 Summerville SCORE Celebrates Grand Opening  SUMMERVILLE, S.C. – Summerville SCORE celebrated the expansion of its services at the Greater Summerville-Dorchester County Chamber of Commerce on Thursday, January 12, 2012, with a ribbon cutting to announce that it is now open for walk-ins every Thursday from 10:00 a.m. to 2:00 p.m. at 402 North Main Street in Summerville. …

South Carolina Medicare Supplement Rate Updates

For Plan F in the Charleston area,themonthly  prices range from $107-$206.   Here are the three least expensive programs currently available at age 65: Heartland  $107, Central States $111, Medico  $117 For age 75: Heartland  $150, Central States $156, GPM Life $156 We have over 20 Medicare Spplement Plans available in South Carolina