Retirement Funding – Win Win Lose http://winwinlose.net/ Wed, 23 Nov 2022 03:24:31 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://winwinlose.net/wp-content/uploads/2021/06/icon-9.png Retirement Funding – Win Win Lose http://winwinlose.net/ 32 32 Nevada Department of Wildlife Director Tony Wasley Retires | News from Carson City, Nevada https://winwinlose.net/nevada-department-of-wildlife-director-tony-wasley-retires-news-from-carson-city-nevada/ Wed, 23 Nov 2022 02:27:55 +0000 https://winwinlose.net/nevada-department-of-wildlife-director-tony-wasley-retires-news-from-carson-city-nevada/ Nevada Department of Wildlife Director Tony Wasley announced Monday that he will be retiring effective December 2022, ending a more than 25-year tenure at the agency. Wasley has served as the agency’s director for the past nearly 10 years. Wasley was appointed by Republican Gov. Brian Sandoval, under whom he served six years, and then […]]]>

Nevada Department of Wildlife Director Tony Wasley announced Monday that he will be retiring effective December 2022, ending a more than 25-year tenure at the agency. Wasley has served as the agency’s director for the past nearly 10 years.

Wasley was appointed by Republican Gov. Brian Sandoval, under whom he served six years, and then was reappointed by Democratic Gov. Steve Sisolak nearly four years ago.

During his tenure as director, Wasley oversaw the acquisition of important wildlife habitats, strengthened key partnerships with industry, increased the state’s wildlife management areas, oversaw the restoration of over half a million acres of wildlife habitat following the fire over the past five years, and strengthened conservation relevance in the state, better-equipped agency staff with equipment, vehicles, and training, and an increased focus on connecting all Nevadans to the state’s nature and natural resources.

“The incredible purpose, passion and professionalism of the people at NDOW have made this job and my entire career here immensely fulfilling,” said Wasley. “By working with individuals with whom I have shared the deep and meaningful purpose of conservation, this journey has felt more like a mission, goal or calling than it has ever felt like a job. I owe a great debt of gratitude to Governor Sandoval for giving me the chance to be a director and to Governor Sisolak for continuing that trust. Serving the people of Nevada, Nevada athletes and the staff of NDOW by always striving to increase the relevance and importance of conservation is an opportunity I will always be grateful for.”

Wasley, who began his career in 1997 as an NDOW habitat biologist in the agency’s Habitats Division, has served as director since early 2013, overseeing the agency’s policy, staff, funding and strategy. During his tenure, the department acquired new public land in numerous counties across the state, including Licking Ranch in Lander County, Lennar Pond in Washoe County, and Carson Lake and Pasture in Churchill County; added several key new staff positions within the agency; procured new facilities such as Las Vegas, Winnemucca, Ely, Fallon and Reno office locations; created the Nevada Outdoor Connection Program; and secured significant new funding for urban wildlife programs by providing US dollars from the general government fund.

In addition to his work at NDOW, Wasley has served on local, regional and national conservation-related boards and advisory boards, including serving as president, chair and member of the executive committee of both the Association of Fish and Wildlife Agencies and the Western Association of Fish and Wildlife Agencies. He is also a professional member of the Boone & Crockett Club, has served as Chair of the North American Wetland Conservation Council, and is a graduate of the National Conservation Leadership Institute.

“Tony was a consistent leader. He sees opportunity where most see walls, and he’s leaving the agency in a much better place,” said David McNinch, the longest-serving member of the Nevada Board of Wildlife Commissioners and Conservation Representative. “Much can be said about his ability to build partnerships and work together, his advocacy for conservation and relevance here in Nevada as well as nationally, and how he has positioned the agency to understand the implications of ever-evolving social norms and expectations and to adapt to them. But what I appreciate most is that he cares deeply about wildlife conservation and has expanded the conversation about wildlife and landscapes. It has been a true pleasure and privilege to work with Tony and I would like to thank him for his dedicated service and wish him and his family a very happy retirement.”

If Wasley steps down, an acting or interim director is likely to be appointed to ensure a smooth transition as the agency works with the governor’s office to develop a longer-term strategy for finding a permanent replacement.

]]>
EU proposes middle ground for climate damage fund to unblock COP27 talks https://winwinlose.net/eu-proposes-middle-ground-for-climate-damage-fund-to-unblock-cop27-talks/ Fri, 18 Nov 2022 06:28:11 +0000 https://winwinlose.net/eu-proposes-middle-ground-for-climate-damage-fund-to-unblock-cop27-talks/ By Kate Abnett SHARM EL-SHEIKH, Egypt, Nov 18 (Reuters) – Climate negotiators on Friday mulled over a night-time European Union proposal aimed at solving a persistent impasse on funding for countries hit by climate-related disasters and this year’s UN climate summit pushes Egypt closer to a final deal. The EU proposal would be to set […]]]>

By Kate Abnett

SHARM EL-SHEIKH, Egypt, Nov 18 (Reuters) – Climate negotiators on Friday mulled over a night-time European Union proposal aimed at solving a persistent impasse on funding for countries hit by climate-related disasters and this year’s UN climate summit pushes Egypt closer to a final deal.

The EU proposal would be to set up a special fund to cover losses and damage in the most vulnerable countries – but financed from a “broad donor base”.

That suggests that high-emission emerging economies like China need to contribute, rather than having the fund financed only by rich nations that historically have contributed most to warming.

“What we would propose is the establishment of a Loss and Damage Response Fund for the most vulnerable countries,” EU climate policy chief Frans Timmermans said at the COP27 summit.

The issue of loss and damage has dominated this year’s summit, with more than 130 developing countries demanding that the meeting reach agreement on a new fund to help them deal with the irreparable damage caused by floods, drought and other climate-related impacts.

The United States and the EU had previously opposed the idea, fearing it could open the door to establishing legal liability.

The EU’s latest proposal offered a middle ground – but Timmermans stipulated that it should be honored by countries that have agreed to step up their ambitions to slow climate change.

Conditions attached to the offer included that countries must agree to phase out all fossil fuels and end unrestrained coal power generation as soon as possible – with countries reporting on progress to ensure this will happen.

The Alliance of Small Island States and the G77 club of 134 developing countries, both of which have been pushing for a new fund at COP27, are consulting on their response to the EU proposal.

Pakistani Ambassador to South Korea Nabeel Munir said Timmerman’s proposal was “positive news” but some divisions remained.

“There are still many different views. For us, the success of COP27 depends on what we get in terms of losses and damage.”

The EU offer goes against a proposal by developing countries and China that would require all developing countries to have access to the fund. This proposal used a UN definition that would have allowed China to receive money, not donate it.

Timmermans’ offer goes beyond what the United States has previously agreed to cover for losses and damages. Agreements at COP27 must be reached with the support of all nearly 200 countries present at the talks.

“The US appears to be cornered,” said one observer at the talks. (Reporting by Kate Abnett; Editing by Katy Daigle and William Mallard)

]]>
Tennessee Supreme Court Justice Sharon Lee announces her resignation https://winwinlose.net/tennessee-supreme-court-justice-sharon-lee-announces-her-resignation/ Tue, 15 Nov 2022 19:32:09 +0000 https://winwinlose.net/tennessee-supreme-court-justice-sharon-lee-announces-her-resignation/ Judge Sharon Lee was a progressive holdout on an increasingly conservative bench. The Tennessee Supreme Court Justice confirmed Tuesday that she plans to retire next year. Lee will have served 19 years on the bench by the time of her retirement. Tennessee Supreme Court Justice Sharon Lee said she was “full of gratitude” as she […]]]>
  • Judge Sharon Lee was a progressive holdout on an increasingly conservative bench.
  • The Tennessee Supreme Court Justice confirmed Tuesday that she plans to retire next year.
  • Lee will have served 19 years on the bench by the time of her retirement.

Tennessee Supreme Court Justice Sharon Lee said she was “full of gratitude” as she plans to step down from the bench next year.

Lee confirmed to The Tennessean on Tuesday that she plans to retire at the end of August after 14 years on the state’s highest court. Prior to her appointment to that bench in 2008, she was the first woman selected to serve on the eastern section of the Tennessee Court of Appeals.

“This is a decision I’ve thought about for a while, but I know it’s the right decision for me,” Lee told The Tennessean when reached by phone Tuesday afternoon. “It was the highest honor of my professional life to have served. It was more than I could have ever dreamed of.”

]]>
Cumberland County begins distributing proceeds from sales of Claremont Nursing https://winwinlose.net/cumberland-county-begins-distributing-proceeds-from-sales-of-claremont-nursing/ Sat, 12 Nov 2022 01:01:08 +0000 https://winwinlose.net/cumberland-county-begins-distributing-proceeds-from-sales-of-claremont-nursing/ Cumberland County Commissioners Thursday approved the first in a series of cash transfers affecting the remaining $16.5 million in proceeds from the sale of Claremont Nursing & Rehabilitation Center. The commissioners unanimously voted to transfer $4.15 million to the county’s retirement fund, to be drawn down over a period of several years, as determined by […]]]>

Cumberland County Commissioners Thursday approved the first in a series of cash transfers affecting the remaining $16.5 million in proceeds from the sale of Claremont Nursing & Rehabilitation Center.

The commissioners unanimously voted to transfer $4.15 million to the county’s retirement fund, to be drawn down over a period of several years, as determined by the actuaries who advise the county’s retirement board.

“Is it fair to say that by deferring this money, we are guaranteeing that former care home workers will have their pension available when the time comes?” asked Commissioner Jean Foschi before voting in favor of the motion during a workshop session.

“Yes, it’s funding that commitment,” said Dana Best, the county’s chief financial officer. Best reviewed three other proposed transfers that commissioners have yet to act on.

People also read…

The next commission meeting is scheduled for Monday at 2pm in the Hearing Room on the second floor of the New Courthouse, 1 Courthouse Square.

The three remaining proposed transfers are:

  • Approximately $7,426,765 for County General Fund tied fund to use for future projects or other initiatives.
  • Approximately $4,584,071 to the general fund to cover ongoing costs and potential costs and fees associated with the nursing home.
  • Approximately $356,550 to the Internal Service/Healthcare Self Insurance Fund for future costs related to other post-employment benefits.


Cumberland County Commissioners scheduled the transfer of ownership of Claremont for March 13

Cumberland County completed the sale of Claremont to Allaire Health Services for $22.25 million in March. Work has since been done to calculate how much of that would be left after the county accounted for all costs associated with the nursing home before, during, and after the transition.

The timing of that calculation depended on when county employees were able to finish processing bills from staffing agencies along with paperwork related to other expenses such as hazard pay and bonuses for nursing home workers during the COVID-19 pandemic.

After months of work, Best told commissioners Thursday it had determined about $16.5 million remained from the sale. From this, her office recommended the series of proposed transfers.







Dana Best

Dana Best


“My goal is to close the nursing home fund by the end of the year,” Best said. “To do that, I will be asking for referrals to cover ongoing expenses.”

As for the $7.4 million, the plan is to put that money in a committed fund for future allocations, Best said.

“The tied balance is subject to a higher level of usage restrictions, so only the commissioners can release that balance,” she said.

Best and her office staff sought the advice of officials from other counties who had experience selling a nursing home.

“Your strong recommendation is to make sure you have enough funds set aside to cover expenses,” she said. “They all put money aside and everyone said it wasn’t enough. That expenses keep accumulating over time.”

Of the four proposed transfers, Best recommended immediate action on age allocation. She didn’t give a timeline during the meeting on when to act on the other transfers.

The reason for transferring $4.5 million is to cover any indirect costs that may arise over the next two to four years. As an example, she cited the possibility of an audit finding that the county had to pay out some money. There’s also ongoing payroll costs for county employees who are still working to process nursing home-related expenses, Best said.

Joseph Cress is a reporter for The Sentinel, covering education and history. You can reach him at jcress@cumberlink.com or by phone at 717-218-0022.

]]>
Letter to the Editor: Demands on the district budget are endless | letters to the editor https://winwinlose.net/letter-to-the-editor-demands-on-the-district-budget-are-endless-letters-to-the-editor/ Sun, 06 Nov 2022 07:15:00 +0000 https://winwinlose.net/letter-to-the-editor-demands-on-the-district-budget-are-endless-letters-to-the-editor/ Reasons to vote for Action K: If we pass this tax on to ourselves, we can keep the full 1 percent even if the state (later) decides to do the same nationwide. If we wait for the state to pass this tax, they keep 2/3 and we get 1/3. So we pay it anyway and […]]]>

Reasons to vote for Action K: If we pass this tax on to ourselves, we can keep the full 1 percent even if the state (later) decides to do the same nationwide. If we wait for the state to pass this tax, they keep 2/3 and we get 1/3. So we pay it anyway and are only marginally better off. And they will eventually pass it because so many cities and counties have their own sales tax levies (above and above the state) that the state will pass its own tax hike in a late night session.

Why is the district chronically underfunded? Here’s why: From about 1996 to 2011, county employees didn’t contribute to their retirement fund. The union and its lobbyists convinced the board that the pension investments would like to meet the funding needs of future retirees. There were no guarantees to protect taxpayers if that didn’t happen, and it didn’t. The Supervisory Board has not fulfilled its supervisory duty. So the county began issuing general notes and had to continue to do so. The county has had to issue about $300 million over the years and now pays about $25 million a year in debt service on these bonds. And that debt isn’t going away anytime soon.

]]>
Voter Guide for the 2022 Massachusetts Election: “Millionaire Tax” Question 1 https://winwinlose.net/voter-guide-for-the-2022-massachusetts-election-millionaire-tax-question-1/ Mon, 31 Oct 2022 23:20:48 +0000 https://winwinlose.net/voter-guide-for-the-2022-massachusetts-election-millionaire-tax-question-1/ The proposed amendment to the state constitution would add an additional 4 percent tax on every dollar of taxable income earned over $1 million. That threshold would be adjusted annually using the same methodology used for federal income tax brackets, according to the Secretary of State’s website, to reflect increases in the cost of living. […]]]>

The proposed amendment to the state constitution would add an additional 4 percent tax on every dollar of taxable income earned over $1 million. That threshold would be adjusted annually using the same methodology used for federal income tax brackets, according to the Secretary of State’s website, to reflect increases in the cost of living.

The change would mean people earning more than $1 million would be included in a year would pay the current 5 percent tax on the first million dollars and then 9 percent on all earnings above that. It would apply to tax years beginning on January 1, 2023.

Salaries, some pension fund withdrawals and gains from real estate sales are all now treated as income and would remain so if Question 1 were passed. In 2019, only about 21,000 Massachusetts taxpayers, or less than 1 percent of all households, had incomes greater than $1 million, according to a report by Tufts University’s Center for State Policy Analysis.

The state says the change “could increase annual state revenues by $1.2 billion in the short term, about 2.4 percent of the current annual state budget.” However, she also warns that “the annual revenue generated by the surcharge will vary significantly and unpredictably from year to year”. It would be up to the legislature to decide how the money should be used, although the constitutional amendment earmarks the revenue for public education, public colleges and universities, and the repair and maintenance of roads, bridges, and public transportation.

A yes vote would approve the surtax so that all taxable income over $1 million would be taxed at a rate of 9 percent.

A no would leave the Constitution unchanged and continue to tax income over $1 million at the same rate of 5 percent.

Who supports each site?

Among those in favor of a yes vote are teachers’ unions and other workers’ groups. Meanwhile, opposition to the measure has attracted funding from prominent names in the Massachusetts business community, including Robert Kraft’s Rand-Whitney Containerboard, John Fish’s Suffolk Construction and New Balance chairman Jim Davis.

What are the proponents saying?

Proponents of this election measure say only the very rich would pay more taxes. The Fair Share for Massachusetts campaign says current tax rules allow very wealthy earners to contribute a smaller portion of their income taxes (including income, wealth, and sales taxes) than people earning much less.

They say that “almost no one who sells a home will be affected in any way,” and that people can use tax deductions to further reduce their taxable income.

As part of the arguments put forward to the state in favor of the change, Cynthia Roy of Fair Share Massachusetts writes that the extra money is constitutionally guaranteed to go to transportation and public education, which she says would mean better schools and roads, among other things .

“Question 1 means creating opportunities for all,” writes Roy.

What are the opponents saying?

Opponents say the surcharge would hurt “one-time millionaires” – people who find financial fortune after selling their home or business. These are funds they may be able to count on for retirement.

“Record inflation, supply chain difficulties and ongoing COVID-19 woes make now the worst possible time for massive tax hikes — especially when Massachusetts already has a huge budget surplus!” writes Paul D’Amore for the Coalition To Stop The Tax Hike Amendment in arguments supporting the be submitted to the state.

Opponents of Question 1 also argue that the amendment would give lawmakers a blank check with no guarantees that the money will be used for education and transportation, as the revenue is “subject to appropriation by state legislation,” according to Electoral Language.

They also argue that the change would encourage job-creating entrepreneurs and businesses to relocate to other states.

Continue reading

Answers to your millionaire tax questions

There are rich people and then there are the “one time millionaires”

Voters have repeatedly said no to tax increases for the highest earners. It could be different this time.

Early voting in Massachusetts: What you need to know


Sahar Fatima can be reached at sahar.fatima@globe.com. Follow her on Twitter @sahar_fatima.

]]>
12 Crucial Steps When You Have Nothing Saved For Retirement https://winwinlose.net/12-crucial-steps-when-you-have-nothing-saved-for-retirement/ Sat, 22 Oct 2022 18:01:00 +0000 https://winwinlose.net/12-crucial-steps-when-you-have-nothing-saved-for-retirement/ Saving for retirement can feel like pushing a big boulder up an extremely steep hill. This feeling becomes even clearer as retirement approaches. You’re not alone. Many Americans say they have nothing saved for retirement and are desperate for ways to increase their bank accounts. Whether you were unemployed, didn’t have access to a retirement […]]]>

Saving for retirement can feel like pushing a big boulder up an extremely steep hill. This feeling becomes even clearer as retirement approaches.

You’re not alone. Many Americans say they have nothing saved for retirement and are desperate for ways to increase their bank accounts.

Whether you were unemployed, didn’t have access to a retirement plan, or just need to catch up, there are 12 steps you can take if you haven’t saved for retirement.

6 ways to supplement Social Security in 2022

1. Get a snapshot of your current money picture

Life can come at you fast, and that means it can be difficult to see how much money you really have at all times.

Schedule real time on your calendar each week to check how much is coming in and how much is going out of your household. What’s next in terms of spending?

Sometimes an emergency can be avoided by taking care of maintenance before problems get worse.

2. Tighten your budget

While you can absolutely treat yourself to a night on the town, you might be surprised at how quickly that can add up over the course of a week, month, or year.

If a night out at your favorite restaurant costs $50, five nights a month costs $250 that could be diverted to your retirement account.

3. Cut out high-interest debt

If you haven’t saved anything for retirement, chances are you have some high-interest debt clogging the retirement pipes.

According to the Consumer Financial Protection Bureau’s most recent survey, Americans pay over $120 billion in credit card interest and fees per year between 2018 and 2020. Ouch.

You may know the monthly payments for all of your credit cards, but do you also know their interest rates? Take some time to check your credit card interest rates. Then look for creative ways to pay off your debt once and for all.

4. Don’t overlook bonuses

A bonus from work feels like an invitation to finally remove these fun items from your Amazon Save for Later list. But since the bonus is essentially money you don’t already have, you can’t miss it if you retire it.

Whether it’s a year-end bonus or a bonus that comes out every quarter, send it to your retirement account so it can grow over time.

5. Check achievements at work

If your employer is willing to double your pension contributions, that’s the best free money you could ask for.

Not sure what your benefits are? Your job most likely has an HR portal where you can view company-wide benefits, including retirement benefits. They most likely don’t match Everyone Your contributions, but every penny helps.

6. Use promotions for your retirement

Promotions often come with a raise, which is another form of unexpected money. For once, the plot twist is on your side.

You can add extra money to your retirement account without impacting your quality of life. If you want to pinch a little more, you can do so without it hurting too much over time.

7. Use round-up apps to increase savings

Apps like Acorns, Guac, Digit, and Betterment all have one thing in common: They capture money that would otherwise be lost just by shopping. When you swipe your debit card, you might as well swipe your debit card on purpose.

While the money still has a few hops to make to get into your retirement account, these rounding-up apps still help you save where you’d otherwise just spend the money.

Pro tip: Check out this list of the best investing apps to build your savings with rounding up.

8. Let the family help fund the retirement accounts

Did you know that you can accept cash gifts and apply them to your Roth IRA (admittedly, you still have to meet the usual requirements)? Sure, not everyone has a family willing to help, but if your family is interested in helping, there’s no harm in asking.

Having intimate conversations about money with family members can be uncomfortable for some people. But risking a few awkward moments is better than sitting up at night worrying about your pension.

9. Lean into a side hustle

If you’re looking to put money into retirement, you may need to take a part-time or outside job to raise the money for your 401(k) funding. This could look like Uber, DoorDash, or any of those legitimate ways to make extra money.

Imagine how you can help other people and you might find that you can put the money you earn on the side into retirement.

10. Let the robots make retirement easier

By automating your savings and retirement, you can ensure your money is working for you first and spending later. You can set up automatic pension contributions if you have a 401(k) at work, but you might be able to set them up with an IRA as well.

11. Open an IRA

It is possible to contribute to both an IRA and a 401(k). The IRS allows taxpayers to use both retirement accounts, although there are rules to follow. There is a difference between being able to make contributions and being able to deduct those contributions on your tax return.

12. Be aggressive with your portfolio

A common mistake many 40- and 50-year-olds make when trying to catch up with their retirement savings is to play it safe. Conservative portfolios focus on preserving money when the focus must be primarily on making money.

An ideal portfolio prioritizes growth, and that means stocks. Bonds are great for saving money, but stocks offer the best returns.

bottom line

It’s natural to feel frustration, guilt, and sadness when you haven’t saved anything for retirement. But if you focus on what you can control, you’ll find you have more options than you thought and take away your money worries.

Get creative. Start seeing your world in both what you make and what you can save. The more you search for retirement solutions, the more money will flow to you.

More from FinanceBuzz:

This article, 12 Crucial Steps When You Have Nothing Saved for Retirement, originally appeared on FinanceBuzz.

]]>
Who benefits from the proposed change? https://winwinlose.net/who-benefits-from-the-proposed-change/ Thu, 20 Oct 2022 06:46:08 +0000 https://winwinlose.net/who-benefits-from-the-proposed-change/ business Ryan Hamilton Davis 28 minutes ago People are living longer, healthier lives and may want to work past the current retirement age of 60. Source: employernews.co.uk – Like most working people around the world, Trinidad and Tobago nationals look forward to their retirement when they can sit back and enjoy the fruits of decades […]]]>

business



People are living longer, healthier lives and may want to work past the current retirement age of 60. Source: employernews.co.uk –

Like most working people around the world, Trinidad and Tobago nationals look forward to their retirement when they can sit back and enjoy the fruits of decades of labor.

For many, retirement means that they are now free – they can enjoy their golden years by making up for lost time with family, friends and loved ones or seek adventure and explore the world.

So it was not surprising that when Attorney General Reginald Armor announced that the government was attempting to finalize legislation to raise the mandatory retirement age from 60 to 65, it ruffled a few feathers.

The announcement came after consultation with several unions and workers’ representatives, according to government officials.

Armor last Friday vowed to introduce legislation later this year to amend the Senior Pensions Act to “give our very knowledgeable and experienced seniors the opportunity to continue to serve our society.”

He said the changes would modernize the pension system to complement the proposed increase in the retirement age.

Many business and government agencies have praised the move, highlighting the benefits of giving people meaning and sustaining a shrinking workforce at a time when people are living longer, healthier lives. But in principle, working people do not want to retire at 65; They prefer to retire earlier, at 60.

The question now is: Does the decision to raise the retirement age from 60 to 65 benefit the economy or the people?

Business sector welcomes move

Economists and industry leaders have already shown their support. Speaking to Business Day, Paul Traboulay, board member of the Association of TT Insurance Companies (ATTIC) and Group CEO of the Guardian Group, said the move would be beneficial for the country as it is one of the few countries still at its mandatory retirement age fixed at 60 years. He said there are many factors influencing raising the retirement age.

With a shrinking and aging workforce, many business leaders believe it makes sense to raise the mandatory retirement age. Source: realbusiness.co.uk –

One of those factors is the issue of longevity.

“The problem is that longevity is increasing. People are just living longer,” he said.

“The problem is this – we look at longevity risk because it puts pressure on pensions, and likewise any payments from pensions and retirement benefits after retirement age mean that income would end at a certain age and funding would have to continue. If you’re running social insurance or some individual way of supporting these people, that’s a burden because the funding mechanism is really tied to the working age of the population.”

According to World Bank statistics, life expectancy in TT 1980 was about 64 years. In 2020 it was 71 years. Macro Trends put the life expectancy of TT at 66 years in 1980 and at 73 years in 2020.

In the private sector, some insurance companies have pension plans that come into effect at or after age 60. Sagicor’s retirement plans begin at age 65. Guardian Holdings also goes up to the age of 62, but provisions are in place for extending this period to give clients the opportunity to work by choice.

“For many of the companies operating in the Caribbean, we have to comply with the regulatory situation. The reality is you would find that corporations would be at a deviation of 60, but the majority of Trinidad-based private corporations are at 60.”

He added that a higher retirement age could also be beneficial for citizens, especially in the current volatile and uncertain climate.

“Any financial adviser in a first world country would tell you that early retirement is a big mistake right now because of inflation and other problems. In fact, at a time when reaching a longer retirement age is very uncertain, you have a better cushion than retiring earlier and then struggling to find work everywhere because you can’t catch up on the money at the end of the month.” he said.

He added that TT may be one of the few remaining countries in the English-speaking Caribbean that still has the retirement age set at 60. In the Dutch-speaking Caribbean, the retirement age has been moved from 65 to 70. In Barbados, the retirement age has been lowered from 65 to 67 and a half.

He added that the national population has remained at the same level for quite some time, but more importantly, the labor force is shrinking rapidly, according to NIB actuarial reports. He said the public and private sectors must retain the experience and institutional capital held by elders in the public and private sectors.

Example police service

An example of this would be the police service from 2010 to 2012 when then-Police Commissioner Dwayne Gibbs and Deputy Police Commissioner Jack Ewatski implemented the 21st Century Policing module. Apart from several other measures to streamline the police service, the module made use of retired police officers who were brought back into the police service on a contract basis.

Long lines of people, many of whom are pensioners, wait to enter First Citizens Bank, Part Street, Port of Spain on April 1, 2021. The first working day of each month is a bank business day for pensioners. -Jeff Mayers

“It (the initiative) probably accomplished two things,” Traboulay said. “For one thing, it met the broader goal of making the most of your best talent, and the lesser issue was that those people had an institutional and experienced capital that would pay off in favor of the younger generation in the system.”

While a shrinking labor pool makes it more necessary to increase retirement ages and thereby increase the contribution of the elderly to the labor force, it begs the question, why is our labor pool shrinking?

“Is it because people don’t fit into the labor market?” asked Traboulay. “I know a lot of hard-working people who aren’t part of what you would call a typical workforce. They’re entrepreneurial, they hop from job to job, they make money, but that doesn’t fit the definition of a traditional worker.”

He also noted that innovations in processes now include artificial intelligence and automation that could displace workers.

“Combine that with the fact that you might also be in the challenge of diminishing opportunities in the traditional way we understand professionalism if you have this brain drain problem, which accelerates again because we’ve always had one, says something about national development and talent mobilization.”

While there are many benefits, people are generally reluctant to the idea of ​​a retirement age of 65.

review legislation

According to the Pensions Act, which sets the rules for pensions for people appointed to public service, the current retirement age is 60. The law states that the Service Commission can require a civil servant – anyone who has a portfolio in the public service Service has service – to be able to retire from the service of TT at any time after the age of 60. In special cases, one can retire at 50, but there must be medical evidence that the officer is unfit for any reason, either mental or physical, to perform the duties of his or her office.

The Senior Pensions Act states that a person must be 65 years of age to be eligible for a pension. It also states that a person must have habitual residence in TT for 20 years before applying for a pension and must be a citizen of TT.

The National Insurance Board states on its website that people between the ages of 60 and 65 are eligible for the old-age pension if they are retired, or at age 65 regardless of whether a person is retired or not. People who have paid at least 750 social security contributions are also entitled to an old-age pension.

Don’t make it mandatory

In response to questions Newsday poses on its social media platforms, many people believe they should be able to spend the most time enjoying their retirement.

One person on Instagram in the 36-49 age group raised this point, saying that given the life expectancy of TT citizens, the best retirement age would be 60. Some don’t even believe they’ll live that long.

“Given the life expectancy in this country of 73 years and the health issues like high blood pressure and diabetes that plague our age group of 60 and older, people should be able to enjoy at least 10 years of retirement,” the Facebook responder said.

“I can’t imagine my 63-year-old mother waking up at 4:30 every morning, facing traffic and driving to an office for eight hours and then driving home in the same traffic.”

Another on Instagram, aged 60, said: “Retire at 60 please. Tell me why you want people to work at 65? Empower the younger workforce to make a meaningful contribution to society. We have toiled enough.”

For many, retirement means they can sit back, relax, and enjoy the fruits of their labor. Source: moneysense.ca –

A third commenter said that retirement at 65 should be a choice.

“Not because a few people retire at 60 and are healthy and strong doesn’t mean the majority would be like that.”

A Facebook blogger said he was ready to retire as soon as he was eligible for NIS and pension money.

“After 60 people have illnesses and cannot even work. It’s time for them to relax,” the Facebook responder said.

Only one person from the polls conducted by Newsday supported the idea.

“If science enables people to live longer, why not work longer,” he said. “Yes, there are some downsides, but there are also upsides to working longer hours. You can stretch your mortgages, loans and financing longer.”

]]>
Tim Ryan promised an investigation into whether the government created HIV to kill black people https://winwinlose.net/tim-ryan-promised-an-investigation-into-whether-the-government-created-hiv-to-kill-black-people/ Mon, 17 Oct 2022 18:39:15 +0000 https://winwinlose.net/tim-ryan-promised-an-investigation-into-whether-the-government-created-hiv-to-kill-black-people/ In Congressman Tim Ryan’s first major campaign, he made a promise he has remained silent on ever since: to investigate whether the US government created the “HIV-AIDS virus” with the intent to kill the country’s black population to murder. During his first run for the US House of Representatives in 2002, Ryan was asked in […]]]>

In Congressman Tim Ryan’s first major campaign, he made a promise he has remained silent on ever since: to investigate whether the US government created the “HIV-AIDS virus” with the intent to kill the country’s black population to murder.

During his first run for the US House of Representatives in 2002, Ryan was asked in an interview with a local radio station whether, if elected, he would launch a congressional inquiry into “the deliberate creation of HIV-AIDS.” Virus and other life-threatening diseases and attacks on the black population by US government agencies.”

“Absolutely,” Ryan replied, causing the host to laugh, who expressed surprise at how quickly he responded.

The exchange was captured by filmmakers for Ryan for Congress, an obscure British documentary that focused on Ryan’s low-budget campaign for federal office. The little-watched documentary, available to buy on major streaming platforms, shows Ryan, who was not even 30 at the time, leading a campaign from a broken camper that focused on getting grassroots support to win. Part of gaining that grassroots support, according to the film, meant interviewing just about everyone, including the host who asks Ryan about the origins of HIV.

The HIV issue was described as “unusual” by the documentary’s narrator. But Ryan’s lack of hesitation in agreeing with the radio host’s premises highlights a covert problem that many Democratic candidates face when running for office: Their electoral base often holds a wide range of beliefs, ranging from the impractical to the outright fantasy pass.

For Democrats like Ryan, who is running for the Senate this November, placating those voters can often prove a burden later on. When Donald Trump was President, Ryan attacked his trade agenda as “designed to cause maximum damage to the US economy with minimum gain.” After Trump’s huge lead in Ohio’s 2020 presidential campaign, Ryan said he approved of the former president’s tariffs and attempts to protect the country’s domestic manufacturers.

Ryan’s flip-flops on issues related to trade or whether the United States should ban gas-powered vehicles is hardly unique to office seekers, even if it eventually becomes the subject of attack ads. Many Democrats in this cycle regret taking far-left positions on defunding the police force or dismantling the country’s immigration system.

However, the radio host’s bizarre question about the origin of HIV speaks to a much darker breed of conspiracy theories that have infected Democratic politics over the years. The origin of the theory – which has been unanimously discredited by the medical community – remains up for debate, but it has been embraced by the Soviet Union and left-wing groups like the Nation of Islam.

A spokeswoman for Ryan did not respond to a request for comment.

Before explaining the theory, Ryan’s interviewer “Dr.” Boyd mentioned Ed Graves. Boyd, a former Youngstown and Cleveland resident who was an attorney but described himself as a doctor, wrote extensively about his belief that the HIV virus originated in a US laboratory and was deliberately spread by the federal government through vaccines and airdarts.

Such a theory proved effective in the black community, unfortunately with disastrous results. A 1999 study presented in the medical journal preventive medicine found that approximately 50 percent of Blacks had an HIV-related conspiracy or were undecided. As recently as 2005, Kanye West rapped about “I know the government is giving AIDS.”

That Los Angeles Times reported 1988 about how “black extremists [in Chicago] are stepping up efforts to blame Jews for the AIDS epidemic.” One state lawmaker even went so far as to give anti-Semitic black Hebrew Israelites $500 from his office allowance to investigate claims that HIV was created in a laboratory .

Other black radicals at the time, such as members of the extremist group Nation of Islam, accused Jewish doctors of infecting blacks with HIV through vaccination. The Nation of Islam and other similar organizations have called for a federal investigation into the lie, similar to the kind Ryan agreed to.

A 1987 State Department report on Soviet propaganda programs describes an “extensive campaign to convince the world that the AIDS virus … was ‘manufactured’ as a result of genetic engineering experiments, in order to create “anti-American sentiment abroad.” . The report goes on to cite countless doctors, including Soviet doctors, who refuted the claim.

Despite enormous evidence disproving the theory, its spread proved deadly. Former South African President Thabo Mbeki cited the laboratory theory when delaying funding for HIV-related drug therapies. A New Yorker Report said that decision would potentially cost hundreds of thousands of lives.

In the United States, researchers believe misinformation about HIV is a major obstacle to eradicating the disease. Black Americans account for a disproportionate number of HIV cases, a rate more than 10 times that of white Americans. A 2015 article in the American Journal of Public Health suspects that the higher rate is due in part to “conspiracy rumors” in the black community.

Ryan faces Republican JD Vance in November for the Senate seat occupied by retiring Rob Portman (R.). A RealClearPolitics The average of the most recent polls shows Vance holding a slim lead.

]]>
4 Lessons I Learned On My Journey To Financial Independence https://winwinlose.net/4-lessons-i-learned-on-my-journey-to-financial-independence/ Sat, 15 Oct 2022 16:58:00 +0000 https://winwinlose.net/4-lessons-i-learned-on-my-journey-to-financial-independence/ By Amy Ouellette Based on the FIRE movement I’ll be the first to say that the FIRE concept may not be for everyone – “Financial Independence, Early Retirement” is an intense personal exercise in restraint, minimalism, and often difficult choices. I literally stumbled into the FIRE movement by accident – I was unfortunate enough to […]]]>

By Amy Ouellette

Based on the FIRE movement

I’ll be the first to say that the FIRE concept may not be for everyone – “Financial Independence, Early Retirement” is an intense personal exercise in restraint, minimalism, and often difficult choices.

I literally stumbled into the FIRE movement by accident – I was unfortunate enough to run up a large amount of debt before graduating from college. That moment opened my eyes to personal finance and closed my wallet at the same time. As someone who is on the FIRE journey myself, I’ve learned a lot along the way. I’ve made some mistakes, made some successes, and most importantly, found that I love sharing my experiences with others.

I’ve tried many versions of tight budgeting, loosening wallets while living in one of the most expensive cities in the world, and everything in between. It’s important to note that the FIRE movement is not a one-size-fits-all, so do what feels right for you. As you go through different stages in your life, what feels right can change over time. Be flexible and kind to yourself.

Holistic Lifestyle Considerations: FIRE pairs well with minimalism and reducing consumption. It doesn’t mean you’ll never buy anything or drink another latte again, but it does mean paying attention to how you really enjoy spending time, and the joy you expect from shopping. Also, consider how social media can encourage compare-and-buy tendencies into a lifestyle that’s just window dressing.

Join your neighborhood’s local Buy Nothing Facebook page to request items or browse what others are giving away. There are also groups for swapping or getting help with DIY projects. Think carefully about where you want to intentionally spend on a few higher-priced items, rather than falling into the trap of buying and replacing cheaper items. Choosing where to spend also allows you to be frugal in areas that are less important to you.

Celebrate important moments: A minimalist mindset is a helpful way to avoid spending traps like giving gifts. I’ve never been a fan of forgoing gifts to celebrate holidays or events. People can get just as much joy (or more) from giving and receiving gratitude and love via written cards or notes, sharing experiences, or offering to cook together.

Consider starting conversations with family about not giving physical gifts over the holidays by offering a group activity as another way to spend the time. and for those with additional funds who wish to donate, consider funding college savings plans or other accounts for the next generation in your family.

Plan for Retirement: Make the most of your company-sponsored retirement plans—saving right from your paycheck is the best way to avoid yourself. Use HSAs for longer-term savings (ie, pay for medical needs out-of-pocket today and consider HSAs for tax-deferred growth). Maximize your 401(k)—especially with Employer Match. It really is free money to save for your future.

Research whether pre-tax or Roth contributions are right for you. Did you know that you can top up your Roth conversions in your early FIRE years to fund your pre-59-1/2 expenses? Research these methods, but don’t let the research stop you from saving early and often.

Stay flexible in approach: I’ve tried a number of ways to budget, track expenses, and set what goals I’m aiming for. I find that focusing on a core goal is best to maintain focus, and it helps to make small victories along the way. Find tools and apps to help you on your journey and ditch the ones that distract you – my current favorite is YNAB (You Need A Budget): It helps me hold on to cash for specific reasons (I’m good at it to find other ways to use cash, else!). Realize that what you think is important today may not align with what’s important five years from now, and be willing to change.

Running up a huge mountain of debt before I even started work was one of the hardest things that has happened to me. But it was also one of the best as it launched me on my quest for financial independence. While the FIRE movement may not be for everyone, I believe there are aspects that everyone can adopt and integrate into their daily lives. Achieving financial independence is a goal that can be achievable for most with certain lifestyle changes and a commitment to making a plan and sticking to it.

Amy Ouellette is Vice President at Vestwell.

-Amy Ouellette

 

(ENDS) Dow Jones Newswires

10/15/22 1258ET

Copyright (c) 2022 Dow Jones & Company, Inc.

]]>