Archive for May, 2012
National Senior Health & Fitness Day promotes ways to live well and age well
Posted: May 29, 2012 at 12:15 am
On Thursday, May 30, 2012 from 10 a.m. to 2 p.m. Fayette Senior Services will be among more than 1,000 organizations participating in the 19th annual National Senior Health & Fitness Day, the nations largest health promotion event for older adults.
The free event will be held at FSSs Life Enrichment Center, 4 Center Drive, Fayetteville (across from the Fayette County Justice Center).
An estimated 100,000 older adults nationwide will participate in a wide variety of local fitness activities. This will be the second year that Fayette Senior Services will participate in the May event that is held in recognition of Older Americans Month.
Attendees will have an opportunity to visit with exhibitors and learn important information and fun ways to improve overall their health and wellness. Fayette Senior Services Ultimate Cafe, winner of the Platinum Plate Award at the 2010 Fayette Chamber Community Expo, will be open to expo attendees from 11:30 a.m. to 1:30 p.m.
National Senior Health & Fitness Day helps create awareness for the many resources in the community that can help you maintain a healthier lifestyle, said Morgan Smith, FSS Program Coordinator. Getting connected with the right resources is the first step in learning how to live well so you can age well.
For more information about National Senior Health & Fitness Day, contact Morgan Smith at 770-461-0813 ext. 129.
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National Senior Health & Fitness Day promotes ways to live well and age well
Retirement Myths: I Can Start Saving For Retirement When I’m 40
Posted: at 12:15 am
(credit: Photo by Joe Raedle/Getty Images)
BOSTON (CBS) The reality is that you are going to be responsible for your own retirement savings. Fewer employers are offering pensions to employees.
Waiting to start to save until you are 40 is a big financial mistake. You have already let the key years for saving pass you by.
If you start at forty and plan to retire at age 67 you have 27 years of savings and investing. But if you start at age twenty you have 47 years.
The longer you wait to start saving for retirement the more money you will need to save.
If you want a $1 million in your retirement nest egg, and I used an 8% return which is realistic, and you start at age 20 you will need to come up with $160 a month for your retirement account. That will amount to about $94,000 saved over 47 years.
If you wait until age 40 to start you will need to invest $880 a month, thats $284,000 or 3 times the amount if you had started earlier.
At 40 you could have kids needing braces, college tuition, a car. Then there is really no money left over for retirement savings.
I have included a chart to illustrate retirement savings at various times in your working career on our website.
You are never too young to start thinking about saving for retirement. A kid in high school with her first job should be introduced to retirement planning by her parents.
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Retirement Myths: I Can Start Saving For Retirement When I’m 40
Definition Personal Health and Fitness Promo – Video
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Definition Personal Health and Fitness Promo - Video
Electric Shavers vs Razor Blades – Cost and Performance – Video
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Electric Shavers vs Razor Blades - Cost and Performance - Video
This how Paul Chek works with his clients and what he thinks of humanity as a whole – Video
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This how Paul Chek works with his clients and what he thinks of humanity as a whole - Video
Letitia’s Wedding Surprise Performance of Love You I Do – Video
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Letitia's Wedding Surprise Performance of Love You I Do - Video
Veterans advocate revives privacy war
Posted: at 12:15 am
Date: Monday May. 28, 2012 8:11 PM ET
OTTAWA A veterans advocate has complained to the privacy watchdog about an internal report that largely exonerates federal bureaucrats who spread around his personal medical information.
The Veterans Affairs investigation into Sean Bruyea's case has revived questions about how seriously the Harper government has treated breaches of privacy of ex-soldiers.
Privacy Commissioner Jennifer Stoddart concluded almost two years ago that the use of Bruyea's medical information in two 2006 briefing notes to former veterans minister Greg Thompson broke the law.
However, an outside report commissioned by the department found no "malice" or "fault" in the actions of bureaucrats and senior department officials.
The report noted that Bruyea's medical information was stitched into several other notes that were not part of the privacy commissioner's investigation.
Bruyea, who described the report as a whitewash, says his privacy was violated once again because the consultant had full, unfettered access to the briefings.
He says no one from Amprax Inc., headed by a former senior bureaucrat Alain Jolicoeur, contacted him for either permission to view the material or for input into the report.
"I certainly ... never would authorize an individual like Mr. Jolicoeur who has an extensive background as a senior bureaucrat which places him in a conflict of interest in assessing whether his peers broke the law," Bruyea said in his letter to the privacy commissioner.
"In authorizing this investigation and releasing unprecedented large amounts of my personal information to Mr. Jolicoeur, it is apparent that senior officials grossly and flagrantly broke privacy laws in order to solicit a report which would justify their breaking of those same laws in the first place. (Veterans Affairs) has crudely attempted but failed to justify the unjustifiable."
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Veterans advocate revives privacy war
Westerville military memorial allows honoring personal heroes, too
Posted: at 12:15 am
By Lucas Sullivan
The Columbus Dispatch Monday May 28, 2012 6:45 AM
Bill Megla shoves the joystick of his electric scooter forward as his cloudy blue eyes peer out from under a dark baseball cap with the letters POW on the front.
There are 3,000 American flags to the left and right of Megla, 86, but all he focuses on is the Freedom Wall, a World War II memorial near the southwest corner of County Line Road and Cleveland Avenue in Westerville.
The wall has 530 gold stars, each of them representing many service members who died or went missing in WWII. It is part of Westervilles Field of Heroes, a Memorial Day tradition where full-size American flags can be dedicated to personal heroes as well as to those who served in the military.
I saw a lot of them get killed, Megla said as he turned away from the WWII wall. I lost my best friend during the war. He took a mortar round, and that was it.
Megla was a first scout in the Armys 9th Infantry Division in 1943. He joined as a second scout, he said, but was promoted when the first scout was severely injured. His duties were straightforward: Stay 100 to 200 yards in front of the line and warn of danger.He was captured by German soldiers during a firefight in Blaimont, Belgium, in 1944 and spent eight months as a prisoner of war before being released. He was awarded the Bronze Star and Purple Heart for his performance during combat and for injuries he suffered as a prisoner.
Yesterday in Westerville, the former owner of a replacement-window shop couldnt travel 10 yards without someone stopping him and thanking him for his service.
Thats what is so great about this place the stories, said Walter Lundstrom of Westerville, who dedicated flags to his heroes: his wife, Gail; his mother, Anna; and his late father, Olov. Obviously, losing your life or limbs for your country is another level of sacrifice. ... There are also heroes still in our own lives that we can honor.
In its fourth year, the Field of Heroes is the idea of Larry Jenkins, a member of the Westerville Rotary Club. About 1,000 of the 3,000 flags will be dedicated to someones hero, he said, and the rest serve as a memorial to all those who died during combat.
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Westerville military memorial allows honoring personal heroes, too
Tom Eblen: Jim Host, Pearse Lyons want to encourage more entrepreneurs in Kentucky
Posted: at 12:14 am
More than 400 local business leaders packed a Lexington Center ballroom last Tuesday to hear lectures encouraging entrepreneurship in Kentucky from two of the state's most successful entrepreneurs.
Jim Host, the founder of Host Communications and now chief executive of iHigh.com, and Pearse Lyons, founder and president of Alltech, told their personal stories, talked about why Kentucky needs more entrepreneurs and offered their personal tips for success.
I know how much business people love lists of success tips, so I will share those later. First, though, I want to discuss why, beyond their obvious success, Host and Lyons are worth your attention.
Both are classic, hard-charging entrepreneurs. They are keen observers of business and society. Not only do they embrace change, they try to anticipate and drive it. They know that people always want better ways to satisfy their needs and desires, and in that space are great business opportunities. They know how to make things happen.
Host is a home-grown success story. He moved to Ashland as a boy and has spent most of his life in Kentucky, including serving in state government and running unsuccessfully for lieutenant governor early in his career.
Host created world-class companies in travel, sports marketing and communications. Now he is trying to create the future of television. Host never felt he needed to move elsewhere to succeed. More importantly, he never allowed his vision to be limited by Kentucky's cultural aversion to change.
Most recently, Host led the effort to build Louisville's KFC Yum Center arena, despite being a blue-bleeding University of Kentucky alumnus and fan. Working in Louisville underscored for him the foolishness of allowing intrastate rivalries to obstruct progress.
Host, 74, has become an evangelist for Louisville-Lexington cooperation. He was founding chairman of the Bluegrass Economic Advancement Movement, a new effort led by both cities' mayors to bring more advanced-manufacturing jobs to Kentucky.
Lyons' story is different. Born, reared and educated in Ireland, he came to Kentucky in 1974 because he thought it was a great place to start a business.
Alltech began with the idea of developing and making all-natural animal nutrition supplements. Now, the company's goal is no less than figuring out how to feed the world using natural ingredients and breakthrough technology, not to mention making good beer and whiskey on the side. Privately held Alltech now has 3,000 employees in 128 countries, including more than 500 in Kentucky.
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Tom Eblen: Jim Host, Pearse Lyons want to encourage more entrepreneurs in Kentucky
Senior individuals using personal service companies to have income tax and national insurance deducted at source, the …
Posted: at 12:13 am
"It is the Governments view that where an individual has the requisite level of control to direct the activities of the organisation and they are engaged at a senior level (through an intermediary) then that individual should be taxed as an employee" says the consultation document.
The consultation document suggests a change in law so that where an organisation engages a controlling person through an intermediary, such as a personal service company, the engaging organisation will be required to deduct the income tax and national insurance at source, as they would for their employees.
It is proposed that 'controlling person' will be defined as "someone who is able to shape the direction of the organisation having authority or responsibility for directing or controlling the major activities of the engaging organisation during the year". The consultation document goes on to say that this would be "someone who has managerial control over a significant proportion of the organisations employees and/or control over a significant proportion of the budget of the organisation."
Chris Thomas, a tax law expert at Pinsent Masons (the law firm behind Out-Law), commented that the legislation is perhaps unsurprising in the context of the recent furore over off payroll remuneration in the public sector. However, it will nonetheless be unwelcome news for many corporates who have, until now, been able to offer the benefits of gross payment without taking on any risk themselves.
Thomas added that the Governments thinking on the issue did not appear very well developed and that the consultation left a lot of questions unanswered. The key will be how exactly they define who is a controlling person, he said. At the moment, the description is rather vague and it is likely to cause problems for businesses in determining who exactly is caught. Also it is not clear whether it will actually hit the intended targets. For example, non-executive directors are presumably in the Governments sights, but it is by no means clear that they would be able to shape the direction of the organisation. We will also need to see how the regime applies where a controlling person is supplying separate consultancy services although one would hope that this should not be affected
Rules currently exist, commonly known as IR35, to prevent tax avoidance using personal service companies. The IR35 rules apply where the relationship between the end client and the worker would be one of employment if it was not for the interposition of an intermediary, such as a personal service company.
A worker caught by the IR35 rules can take out of the personal service company as salary the money earned from that contract and pay tax and National Insurance on those salary payments in the normal way. However, to the extent that the worker does not choose to pay the money out as a salary, at the end of the year, the personal service company is required to calculate a deemed payment on which employee national insurance contributions and income tax are due and a deemed employer national insurance payment.
The Government considers that IR35 is not sufficient to solve for the senior workers the new rules are aimed at.. "When IR35 was introduced 10 years ago it was comparatively unusual for controlling persons of an engaging organisation to be working through a PSC [personal service company]. In the last few years anecdotal evidence suggests that it has become an increasingly common practice in both the private and public sectors." states the document.
It explains that because the IR35 legislation places the obligation on the personal service company to operate income tax and national insurance "this means that even where the appropriate tax and National Insurance for the circumstances of the case is being paid, that is not going to be clear and transparent to the engaging organisation."
The Government believes that, "because of their role in an organisation, controlling persons should be required to meet their income tax and National Insurance obligations in a way which is transparent to their engager. This is not currently possible where they work through a PSC" states the consultation document.
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Senior individuals using personal service companies to have income tax and national insurance deducted at source, the ...