first_imgFulton Limited has marked 50 years of manufacturing heat transfer solutions in the UK by hosting a ceremony at the M-Shed museum in Bristol.The celebrations had started with a tour of the manufacturing facility that housed Fulton’s largest ever plant room building featuring two of the company’s fuel-fired horizontal boilers.Distributors and current and former employees attended the event, including Ronald and Bramley Palm (son and grandson of Fulton’s founder Lewis Palm), managing director Carl Knight and former sales and marketing director Gordon Bareham.Speaking at the event, Knight said the company’s Bristol-based manufacturing and design facility “makes it possible to design, engineer and manufacture products more efficiently and assemble completed units for whenever and wherever they are needed for domestic and export customers.”Fulton’s UK facility has been responsible for designing and manufacturing some of the corporation’s highest-quality steam boilers and heat transfer systems.“The company has a solid reputation with great products and many more on the way,” says Bramley “and we’re looking forward to our future with the UK facility.”Fulton Limited is in the corporation’s global network that also includes production facilities in the USA, Canada and China.last_img read more

first_imgDefined contribution (DC) plans—such as 401(k) plans—are now the dominant form of retirement plans for U.S. workers, yet 60 percent of all households have no retirement savings in a DC plan, and that poses retirement security challenges for low-earning households that rely on Social Security as their only source of retirement income.These and other findings are highlighted in a U.S. Government Accountability Office (GAO) report prepared for Senator Patty Murray, Ranking Member of the Committee on Health, Education, Labor and Pensions. The report, titled “Retirement Security: Low Defined Contribution Savings May Pose Challenges”, focuses on recent trends in DC plan participation and savings, how much households could potentially save in DC plans over their working careers, and how key individual and employer decisions affect savings.GAO FindingsThe GAO analyzed household financial data from the Federal Reserve’s “2013 Survey of Consumer Finances”, the most recent data available, and found that most households (60 percent) have no DC plan savings, a 3 percent increase from 2007. When the GAO limited its analysis to working households—defined as households in which at least one person is working, but is not self-employed, and the head of household is between the ages of 25 and 64—it found that 34 percent of working households had neither a DC or defined benefit (DB) plan. For households age 55 and older, an estimated 29 percent had neither a DB plan nor a DC plan, and would need to rely on Social Security as their main or only source of retirement income.The good news is that 61 percent of working households have access to a DC plan, and when provided access to a plan, 86 percent of working households participated in the DC plan. The not-so-good news is that 39 percent of working households do not have access to a DC plan, either because their employer does not offer a plan or they are ineligible to participate.Low-earning and minority households have less access to DC plans compared to other income groups, which results in low DC plan participation and savings. The GAO found that about 35 percent of low-earning working households had access to a DC plan compared to 80 percent of high-earning working households. Among minority households, 35 percent of Hispanic households and 56 percent of Black households had access to a DC plan. But when given access to a plan, an estimated 64 percent of low-earning working households, 80 percent of Hispanic households, and 81 percent of Black households participated in the plan, compared to 95 percent of high-earning working households.As a result, low-earning and minority working households have much less retirement savings in a DC plan. Among working households, only 25 percent of low-earning households had savings in a DC plan, with an estimated median account savings of $10,400, compared to the 81 percent of high-earning households that had savings in a DC plan, with a median account savings of $201,500. Among Hispanic households, 31 percent had savings in a DC plan with an estimated median account savings of $18,900. And, for Black households, 47 percent had savings in a DC plan with an estimated median account savings of $16,400.The GAO report found that projected DC plan savings at retirement vary widely by earnings. Based on GAO projections, households on average would save enough in their DC plans over their working career to generate a monthly lifetime income of $2,970, but low-earning households would save enough to generate a monthly lifetime income of only $560. These low-earning households—especially the 35 percent who have no DC plan—are much more likely to rely on Social Security for the bulk of their retirement income.Ways to Raise DC Plan SavingsThe GAO report indicated that employers could help raise participation rates by sponsoring a DC plan if they do not currently sponsor a plan. And, employers that currently offer a plan could help raise participation rates by offering automatic enrollment—whereby individuals are automatically enrolled in the plan unless they opt out—and allowing for immediate eligibility and immediate vesting. Taking these steps would significantly increase the percentage of low-earning households with DC plan savings at retirement.Individuals could help increase their DC plan savings at retirement by participating in a plan if they are offered one at work, transferring or rolling over their DC plan assets to another tax-advantaged account upon leaving employment (rather than taking a distribution), and maximizing their employer match by contributing  the amount needed to receive their employer’s maximum matching contribution. The GAO report found that taking full advantage of the employer’s maximum matching contribution would increase DC plan savings at retirement by 31 percent for low-earning households.While taking these actions will help increase DC plan savings at retirement for low-earning households, many low-earning households will still have no DC savings at retirement, in part because low-earning households are the least able to save for retirement. That poses retirement security challenges for low-earning households as they are forced to rely on Social Security as their only source of retirement income.Implications for Credit UnionsThe GAO reports finding, that more than one-third of working households have neither a DC or DB plan, has significant implications for credit unions, as many of these households are credit union members. Following are actions credit unions can take to help their members ensure a more secure retirement.Offer a simplified employee pension (SEP) plan or a savings incentive match plan for employees of small employers (SIMPLE) IRA plan to small business members that do not currently offer a retirement plan for their employees.Educate members of the importance of transferring or rolling over their DC plan assets to another tax-advantaged account (such as a credit union IRA) when changing jobs, rather than cashing out the plan.Offer a no-fee IRA with a low-minimum balance requirement to help low-earning households that may not have access to a DC plan at work to save for retirement.Make a payroll deduction option available to help members save for retirement on a regular basis.The GAO report makes no specific recommendations—but its finding that most households have no DC plan access and that low-earning and minority households have much less retirement savings in a DC plan compared to higher-earning households—is certain to draw increasing scrutiny on the cost and effectiveness of retirement savings tax incentives as Congress prepares for comprehensive tax reform. 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Dennis Zuehlke Dennis is Compliance Manager for Ascensus. Mr. Zuehlke provides clients with technical support on tax-advantaged accounts (including individual retirement accounts, health savings accounts, simplified employee pension plans, and Coverdell education … Web: www.ascensus.com Detailslast_img read more

first_imgOle Gunnar Solskjaer has urged his Cardiff side to make history when they face Swansea in next weekend’s south Wales derby. The Bluebirds claimed a morale-boosting 2-1 win over Norwich on Saturday to climb off the foot of the Barclays Premier League table. Goals from Craig Bellamy and debutant Kenwyne Jones gave Solskjaer a maiden Premier League win as manager; it was Cardiff’s first win in eight top-flight fixtures. Cardiff’s win owed much to the spark provided by the introduction of Wilfried Zaha from the bench in just the 38th minute. But Norwich had more than enough chances to win several games, with Cardiff goalkeeper David Marshall turning in the latest inspired display of an excellent season for the Scotland international. His compatriot Robert Snodgrass was Norwich’s best player, opening the scoring and leading by example throughout. The midfielder’s performance came at the end of a week where he apologised to the club’s fans for an angry exchange with supporters during last weekend’s game against Newcastle. And Hughton was full of praise for the 26-year-old. He said: “Robert got the goal, and showed what he is. He is a wholehearted player who wants to do well. We had a situation with him last week but he was big enough and brave enough to apologise and he is a big player for us. “He will not look to hide away and he has been a real good player for us.” They now move on to face local rivals Swansea in a derby meeting which could play a big part in shaping where the two clubs end the season. No side has ever completed the league double in meetings between the two Welsh clubs, but Cardiff have the opportunity to be the first at the Liberty Stadium, having claimed a 1-0 win on home turf in November. “I know about the history of this fixture, I am aware there has never been a league double,” said Solskjaer. “Let’s go out and make history. Why not? This may be the time. “I watched the south Wales derby on television earlier this season when Cardiff won and the return is going to be another tough match. “Over the years I have watched the Swans’ journey with Roberto Martinez, then Brendan (Rodgers) and now Michael (Laudrup) in charge. “There is a passion among Cardiff fans which I knew about before and has been evident since I arrived. “We understand what this fixture means to the fans.” Press Associationlast_img read more

first_img Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___Calgary Flames defenseman Travis Hamonic is the first player to opt out of the NHL’s return. Chicago White Sox prized pitching prospect Michael Kopech has opted not to play this season. The team also said star third baseman Yoán Moncada and pitcher Jose Ruiz were placed on the 10-day injure list because of unspecified ailments.The White Sox believe they are poised for a turnaround after seven straight losing seasons. But losing Kopech for the season and Moncada for at least a little while are big blows.Both players had been absent since the White Sox resumed workouts last week for the first time since Major League Baseball shut down camps in March.The team had said Kopech was dealing with a personal issue.“We recognize that reaching this decision is incredibly difficult for any competitive athlete, and our organization is understanding and supportive,” general manager Rick Hahn said in a statement. “We will work with Michael to assure his development continues throughout 2020, and we look forward to welcoming him back into our clubhouse for the 2021 season.” The team announced Hamonic’s decision Friday night several hours after the league and NHLPA agreed to resume the season. Hamonic opted out for family reasons.Hamonic said worries about his young children contracting COVID-19 prompted his decision. His daughter was hospitalized with a respiratory illness last year.“My family has and always will come first,” he said in a statement. “Being my little kids’ dad every day is the most important job I have.”Hamonic, who turns 30 next month, is a pending free agent. The Flames are set to face the Winnipeg Jets in the qualifying round, starting Aug. 1 in Edmonton.“Travis explained that due to family considerations, he has made the difficult decision not to participate,” Calgary general manager Brad Treliving said. “While we will miss Travis in our lineup, we understand and respect his decision.” ___Arizona Cardinals owner Michael Bidwill has tested positive for coronavirus.The team said after Bidwill developed symptoms, he tested positive for COVID-19 and went to the hospital after a recommendation by his doctor. His condition has improved and he’s expected to be released this weekend.The team believes the 55-year-old Bidwill caught the virus while traveling and spending time on the East Coast for several weeks. He’s been working remotely since March and the team says he hasn’t had in-person contact coaches or players.___ ___Virginia says two football players have tested positive for COVID-19 and will self-isolate for at least 10 days, along with other members of the program found to have come into close contact with them.The school says 110 players were tested when the player returned to campus beginning July 5 for voluntary workouts. The players were all tested before the workout began, the school says. It adds that none of the players that tested positive have required hospitalization.The tests were administered by UVA athletics sports medicine.The players with positive test results will self-isolate for 10 days, or until they have been fever-free for at least three days, whichever is longer. They also will undergo cardiac screening before they are permitted to join daily sports functions. The Latest: Flames’ Hamonic first NHL player to opt out The school did not indicate how many others were determined through contact tracing to have come into close contact with the players infected. It also did not indicate whether any coaches or other football staff have tested positive for the novel coronavirus.All those found to have come into contact with the infected players will be asked to self-quarantine for at least 14 days and are unable to participate in daily sports functions in that time.___San Francisco Giants star catcher Buster Posey is the latest big-name player to skip this season because of concerns over the coronavirus pandemic.Posey announced his decision on Friday. He says his family finalized the adoption of identical twin girls this week. The babies were born prematurely and Posey said after consultations with his wife and doctor he decided to opt out of the season. Posey had missed three practices while dealing with a personal issue. South American soccer body CONMEBOL said Friday its Copa Libertadores tournament will restart Sept. 15, more than six months after it was suspended.The Copa Sudamericana, the second most prestigious club competition of the region, will resume on Oct. 27, CONMEBOL said.South America is one of the epicenters of the COVID-19 pandemic. Brazil alone has counted more than 70,000 fatalities due to the virus.The soccer body said teams that need to play out of their hometowns because of the pandemic will have enough time to do so. The presence of fans will depend on local authorities, according to CONMEBOL’s health protocols.___center_img July 10, 2020 The 24-year-old right-hander is coming back from Tommy John surgery in September 2018. He hit triple-digits on the radar gun during his first spring training appearance.Kopech was optioned to Triple-A Charlotte on March 26 and likely would have opened the year in the minors had the season started on time.Kopech was acquired by Chicago in the December 2016 trade that sent Chris Sale to the Boston Red Sox. He made his big league debut in 2018, going 1-1 with a 5.02 ERA in four starts.Moncada set career highs by hitting .315 with 25 homers and 79 RBIs in a breakthrough season last year.___ The University of Michigan says two athletes tested positive during a second round of COVID-19 testing, bringing the total to four out of the 375 who have been tested. The school says none of the 139 staff members have tested positive.___Atlantic Coast Conference commissioner John Swofford says the league expects to make its decision on fall sports in “late July.”The league put out Swofford’s statement Friday afternoon, saying the league has prepared “numerous scenarios” for fall competition over the last few months. The decision would come from the league’s board of directors.Earlier this week, the ACC delayed the start of fall competition until at least Sept. 1. That move impacts non-revenue programs like soccer, volleyball, field hockey and cross country, but not football for now. The first football game involving a league team is North Carolina State’s trip to Louisville on Sept. 2. Posey joins other big-name players like Dodgers pitcher David Price, Washington first baseman Ryan Zimmerman, Colorado’s Ian Desmond and Arizonna pitcher Mike Leake in deciding not to take part in the 60-game season this year.— Josh Dubow reporting.___The Red Sox and Blue Jays will play two exhibition games at Fenway Park before baseball’s delayed regular-season opener.Toronto will visit Boston on July 21 and 22 before heading down to Tampa Bay for its opener. The Red Sox are scheduled to open at home against the Baltimore Orioles on July 24. ___More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports Associated Press last_img read more

first_imgVice President for Student Affairs Ainsley Carry sent a memo to the USC community Thursday about nonconsensual drugging at campus parties.Carry said that during office hours in October, a student informed him of what she viewed as a regularity of nonconsensual drugging. “She explained that among her friends, everyone had a story about someone believing they have been drugged,” Carry wrote in the memo. According to Carry’s statement, the student said that getting drugged at parties around campus has become normalized.Carry also addressed the criminality of nonconsensual drugging. “Students and organizations that are found responsible for ‘spiking drinks’ will be punished to the fullest extent of the law and face disciplinary action up to and including expulsion from the University,” Carry wrote. “I strongly urge students who have information … to share it with the Department of Public Safety or the Office of Professionalism and Ethics.”Carry offered students tips on how to reduce the possibility of getting drugged. He said students should not leave their drink unattended and should open their own beverage. They should also be observant by stopping if their drink  tastes off. If a student is believed to be drugged, they should seek medical attention immediately. The memo ended with a list of resources. Carry said that reporting these incidents is fundamental to preventing them. “Nonconsensual drugging is a crime and a serious violation of our community standards,” Carry wrote. “Everyone’s help is required to rid our community of this behavior.”last_img read more