Rewards for Heroes

Unemployment Hurts Business !!!!

Virginia businesses were in for a shock when the Virginia Employment Commission mailed rate notices for the 2010 tax year.  Established businesses with no claims against them in recent history saw their rate more than triple, increasing from .18% to .58% of their employees' first $8,000 of income.  Most employers understand that unemployment claims related to employees they have terminated without cause will increase their rates, but what's driving the change for businesses without claims?  And, how long will it last?

When Virginia's pool of funds to pay unemployment benefits falls below 50% of the balance it's required to maintain by law, a "fund building charge" is assessed.  That added .2% to the base rate for 2010.

Each year, to the base rate of .1%, the VEC adds a "pool charge" which is "added to compensate for unemployment benefits paid that cannot be assigned to any specific employer."  Bankrupt and out-of-business employers would fit that bill.  In 2009, the pool charge was .08%.  In 2010, it increased to .28%.

Two factors contributed to the depletion of the unemployment compensation funds in Virginia.  First was simply the prolonged recession and its attendant business failures and unemployment.  Secondly, Virginia accepted Federal stimulus funds, the terms of which dictated expanded unemployment benefits.  Eligible recipients are now receiving larger benefits for longer periods of time.  Another dictate of accepting stimulus funds was that these enhancements become permanent.  So these higher rates may stay with us for a very long time!

Chronic Illnesses Help

Wow I came across this group called PSI that looks just fabulous. They have a very informative website with information that is beneficial to anyone with questions. There are some really good links as well for information from agencies.

So check out www.uneedpsi.org a great non-profit company that help's people who live with certain chronic illnesses or conditions locate suitable health insurance coverage and access ways to satisfy expensive co-payments.

Here is a salute to them!

Easy Steps to Plan for Your Golden Years

1. Start Saving Early
2. Avoid & Reduce Debt
3. Set up an Automatic Investing Program
4. Make Sure You're Diversified
5. Keep a Long-Term Focus

Saving for Your Nest Egg

What are you doing for Retirement?

Retirement planning has changed over the years, up until the 1970's most Americans worked for companies that provided pension plans. These were guaranteed and funded completely by the employers.

Now there are very few pension plans and the responsibility for retirement planning has shifted from the employers over to the individuals themselves. With legislative help came rise to the Individual Retirement Arrangements such as IRA and 401(k) plans.

With the uncertainty of social security as a reliable source of income in the future. If you want to ensure a financially comfortable retirement, you have to plan for it yourself, whether you work for an employer or are self-employed.

6 out of 10 people say they will have enough money to retire comfortably, though research from the Employee Benefits Research Institute shows 50% of all workers today half less than $50,000 saved for retirement.

Am I an Idiot?

 

As many of you are aware I got laid off 2 weeks ago now, and was it ever a shock! I had a notion several months ago that something was a mist but didn't dwell on it. I actually thought I was getting a pat on the back the day the information came down. I had posted a 4% increase over last year on sales, going to first place in the company.

Yet being in a smaller office,  I offered them a large salary savings by running the office remotely.

I was given a short severance, that was mostly all the vacation time and personal days I haven't taken over the years.

I was then asked to write the budget for the upcoming year, minus me of course or anyone acting as me. As well I have been still coming into the office for the last two weeks just as before at 7 am and answering the phone, clean up things and arguing with the corporate office on what AE budgets are and what the market can reasonably expect to produce next year.

So are you an Idiot if you have some sense of loyalty or idea to complete things to the end, even if that end only rewards some one else?

This has been seen lately in the college football ranks as coaches are fired mid-year. Some of them stay on and continue to fight through the end of the season to put the best team out their with the best results possible even though the only person that it does any good is anyone but that coach.

I think it all comes down to the way we sleep at night!

I can sleep find with people thinking I'm an Idiot, but I can't sleep at all if I felt I didn't do what I think is the right thing.