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GE Retiree Health Care Law Suit Dismissed by Judge

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Pay attention to the language in your employee handbook! In summary judgement this week, US District Judge Lynn Adelman in Milwaukee dismissed a suit filed by General Electric (“GE”) retirees claiming the plaintiffs have “not shown that they were cognizably harmed by GE’s fiduciary conduct with respect to the plans.”. In 2012, GE eliminated its […]

07 Jun
Vanguard How America Saves 2017 based on 2016 Defined Contribution Data - Target-Date funds roll on

Target-Date funds expand their reach in 401(k) plans

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Vanguard Group recently issued their 110 page “How America Saves 2017” report on the behavior of defined contribution plan participants in the plans that they record-keep. The trend toward professionally managed options – primarily target-date funds – continues with 53% of participants using such accounts in 2016 (46% were in a single target-date fund). This is […]

04 Jun
Euler's Team van - Hood to Coast

Leonhard Euler has fans in the running community

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When traveling for business (or pleasure), I see many things. However, as a mathematics major working as an Actuary, it was a pleasure to come across the Team Euler van from the Hood to Coast race here in Portland, OR. As one who recalls having to memorize Euler’s number to 15 decimal places in 11th […]

31 May
Prescription Drugs under Medicare Part D

Medicare Part D – High Cost drugs drive up OPEB costs

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So, you’re an employer who generously offers medical benefits to your retirees. If so, you’ve seen prescription drug prices skyrocket over the last several years – increasing by an average of 14% per year from 2011-2015 and continuing through today. Prescription drug spending by retirees enrolled in the Medicare Part D program has been growing […]

26 May

OPEB / GASB 75 Lunch-n-Learn – the recap

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We had a great “Lunch-n-Learn” session on May 24th with PARS & Vanguard to help demystify the coming changes to OPEB accounting standards for municipal entities as it relates to their retiree medical programs. GASB 74 & GASB 75 represent a significant change from the current standards and we shared the key points about how […]

15 May

Cybersecurity & Business Continuity

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You’ve no doubt heard about the worldwide outbreak of “ransomware” from the WannaCry malware attack that crippled computers, networks and organizations. Hopefully your business hasn’t been impacted, but it provides a great reminder of the importance of maintaining your computer networks and keeping them up-to-date. This particular malware targeted legacy Microsoft systems such as Windows […]

02 May

Actuarial Reports on ‘real’ liability of town

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On April 10, 2017, Parker Elmore met with Princeton, MA’s selectmen, advisory committee members, town treasurer, accountant, and Town Administrator, Nina Nazarian to discuss the Town’s OPEB obligations. Among the topics were GASB 45 and the upcoming need to implement GASB 75, OPEB Trusts (to fund or not to fund) and how to manage these long-term […]

02 May

OPEB/GASB 75 Lunch & Learn

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You’re Invited To A Complimentary Lunch & Learn Seminar When: Wednesday, May 24, 2017 11:30 am – 1:30 pm Where: Sheraton Framingham Hotel & Conference Center 1657 Worcester Road, Framingham, MA 01707 (508) 270-1927 Please join us for a complimentary educational lunch on timely and trending OPEB topics (retiree healthcare liabilities) Complying with New GASB 75 […]

20 Mar

5 Tips For Improving Your Business

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Jack Mitchell is a motivational speaker, a second-generation owner of a family clothing business, Mitchells Family of Stores, and the author of Hug Your Customers—a NY Times best seller that details philosophies that may be implemented in settings well beyond retail businesses. Here are our key takeaways from Hug Your Customers: Know Your Customers The […]

13 Mar

“Breaking the Rules: Removing the Obstacles to Effortless High Performance” – Kurt Wright

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Kurt Wright is a business consultant and personal coach who has spent the last forty years helping companies create vision and individuals reach a state of sustained effortless high performance. You can learn more about him and his company here. Wright presents two major themes throughout the book: 1) the intuitive (feeling) mind is more […]