jxnqqijc

Mass vaccination centre opens today at LYIT

first_img Loganair’s new Derry – Liverpool air service takes off from CODA Previous articleMacSharry calls for banking inquiry-style investigation into Davy StockbrokersNext articleDriver arrested for drug driving in Letterkenny News Highland By News Highland – March 11, 2021 Facebook Important message for people attending LUH’s INR clinic Arranmore progress and potential flagged as population grows Mass vaccination centre opens today at LYIT WhatsApp Nine til Noon Show – Listen back to Monday’s Programme News, Sport and Obituaries on Monday May 24th Facebook Pinterestcenter_img The mass vaccination centre at Letterkenny Institute of Technology will open today.Work has been ongoing at the site over the past number of weeks to fit it out.It’s understood health care staff across Donegal will be the first to be vaccinated at the centre.LYIT is the sole vaccination centre for the county which has led to repeated calls for another centre to be established, given the size and geographical makeup of Donegal. Twitter Twitter RELATED ARTICLESMORE FROM AUTHOR WhatsApp DL Debate – 24/05/21 Pinterest Google+ Homepage BannerNews Google+last_img read more

Maleah Davis, 4, to be laid to rest in colorful ‘My Little Pony’ casket

first_imgcmannphoto/iStock(HOUSTON) — Maleah Davis, a 4-year-old Houston girl whose remains were found weeks after she went missing, will be laid to rest in a colorful “My Little Pony” themed casket.Graphic designer Courtney Sublett said she worked with the little girl’s family to design the exterior of the casket, which highlights Maleah’s favorite “My Little Pony” character — Rainbow Dash — and has lots of pink: her favorite color.The casket also features rainbows, Sublett said, because “we just kind of wanted to show her being sent off over the rainbow because that’s where she is now — in heaven.”“We really wanted to incorporate her in something beautiful and something that would bring a smile to everybody’s face,” Sublett told ABC News on Thursday. “In such a tragic situation, it’s a little bit of positivity.”Maleah, whose disappearance captured the attention of the nation, was reported missing on May 4. Her remains were found in Arkansas on May 31.Maleah’s mother’s ex-fiance, Derion Vence, was arrested in the case, charged with tampering with evidence, said police. More charges are possible, authorities said.Vence, who was caring for Maleah while her mother was away, had told police the 4-year-old was abducted by three men, including one who knocked him out during a carjacking.Houston Police Chief Art Acevedo, however, quickly said detectives didn’t believe his story.Investigators found the family’s car in Missouri City, Texas, and authorities said cadaver-sniffing dogs detected the scent of human remains inside.Community activist Quanell X said Vence confessed to dumping the 4-year-old’s body in Arkansas. Detectives then raced to the scene and the little girl’s body was recovered.She will be laid to rest at a private funeral on Saturday, reported ABC Houston station KTRK.“It’s really sad, but I was just so grateful that I got to bring a little light to her story,” Sublett said. Copyright © 2019, ABC Radio. All rights reserved.last_img read more

Title insurers launch new closing tools as homebuying rises

first_imgFidelity’s Raymond Quirk (iStock)As Americans look to take advantage of the historically low interest rates and buy new homes, more companies are providing platforms and tools to expedite the closing process.One of the nation’s largest title insurance companies, Fidelity National Financial, recently launched a guided digital closing tool for real estate transactions, Inman reported. It is one part of the company’s broader platform that provides transaction tracking, e-notarization and e-closing services for agents and buyers, according to the report.Fidelity National said the tool will provide more assistance than other digital closing services by offering tips and explanations to consumers who know little about the process. The firm was set to merge with Stewart Information Services in a $1.2 billion deal. But that was called off when the Federal Trade Commission failed to grant approvals in September 2019. [Inman] — Keith Larsen ADVERTISEMENT TagsResidential Real EstateTechnologytitle insurance Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlinkcenter_img Share via Shortlinklast_img read more

Nuclear-Powered Ballistic Missile Submarine Yury Dolgoruky Joins Russian Nuclear Force

first_imgBack to overview,Home naval-today Nuclear-Powered Ballistic Missile Submarine Yury Dolgoruky Joins Russian Nuclear Force Nuclear-Powered Ballistic Missile Submarine Yury Dolgoruky Joins Russian Nuclear Force Nuclear-powered ballistic missile submarine Yury Dolgoruky successfully completed state trials along with Bulava missile system in Dec 2011 is almost commissioned into Russian maritime nuclear force, reported ITAR-TASS referring to a source in defense industry.“Before official commissioning of Yury Dolgoruky into combat-worthy maritime strategic nuclear force, there are some minor technical issues to be settled, i.e. to load Bulava ballistic missiles into launch tubes, take torpedoes, water and food supplies on board, let the crew have rest after long-standing trials, and test all systems and mechanisms once again”, explained the interviewee.“A couple of months is quite enough to settle all those matters, and then the submarine will be ready for first patrol to be used for her intended purpose, i.e. providing nuclear deterrence in the Atlantic and the Arctic oceans”, said the source.“Entering of SSBN Yury Dolgoruky into Northern Fleet’s operable force will be a kind of compensation for temporarily decommissioned SSBN Yekaterinburg suffered from fire at Roslyakovo repair plant”, said the source. “Another compensation will be the first serial sub of the same project [955 Borei] SSBN Alexander Nevsky to join the Navy this year. The submarine has successfully passed shipyard’s alpha sea trials in Oct-Nov, 2011″, he added. “In the coming fall, it will be enough for Alexander Nevsky to finish sea trials successfully and make one effective Bulava launch. And then she could be easily commissioned”, concluded the source.Russian vice premier Dmitry Rogozin said on Jan 10 at the press conference after his visit to Murmansk region that SSBN Yekaterinburg damaged in the fire would be recovered. “The sub is okay, she’ll go on defending the country”, Rogozin said. As for him, only first section suffered from fire. “The sub is to be recovered. Experts have found technical solutions to repair and recommission her in due time”, said the vice premier. “Also, we’re going to compensate the gap in nuclear capability made by damaged SSBN Yekaterinburg. Russia’s national security thus will be compensated”, he assured.Borei-class submarines were developed by Rubin Central Design Bureau (St. Petersburg). According to open sources, new technologies of shipborne radioelectronics and noisiness reduction were implied in construction of Borei subs. Their basic weapon is new missile system Bulava. Each submarine carries 16 solid-propellant ballistic missiles with 6 multiple warheads each. Borei-class subs are equipped with surfacing rescue chamber capable to accommodate the whole crew. Submarine length is 170 meters; beam is 13.5 meters; test depth is 450 meters; crew is 107 men.[mappress]Naval Today Staff , January 13, 2012 View post tag: joins View post tag: Naval View post tag: Ballistic View post tag: Yury January 13, 2012 View post tag: Missile View post tag: nuclear View post tag: Navy View post tag: Force Industry news View post tag: Russian View post tag: Nuclear-Powered View post tag: News by topic View post tag: submarine View post tag: Dolgoruky Share this articlelast_img read more

USS Theodore Roosevelt Holds Mock Mass Casualty Drill

first_img View post tag: Navy View post tag: Roosevelt View post tag: holds May 22, 2014 View post tag: Naval Sailors from the aircraft carrier USS Theodore Roosevelt’s (CVN 71) Medical and Air Departments participated in a flight deck mass casualty drill to measure the ship’s responsiveness to large simultaneous casualties, May 20. View post tag: Casualty View post tag: Drill View post tag: USS View post tag: Masscenter_img Sirens and alarms blared on the flight deck public announcement system. Sailors strewn about the flight deck simulated injuries and unconsciousness. The drill depicted a grim scene, but the ship’s first responders rushed in to fight simulated fires and treat mock casualties.“This is the first time that we have done this type of drill since I have been here,” said Chief Hospital Corpsman Jolando Lightner, member of the medical training team. “This is going to test us and see just how well Medical and Air can work together.”The drill simulated arresting gear malfunctions and aircraft destruction that resulted in personnel injuries and multiple fires. The drill helped measure the ship’s responsiveness to a situation of this magnitude. “Sailors will be under a lot of pressure to properly sort out the victims and bring them [to main Medical] in a quick and efficient manner,” said Lightner.The crew also responded to ruptured pipes and fuel fires, while ensuring the safety of injured personnel.“We can never predict when an accident or a casualty is going to happen. The best we can do is train to fight whatever may come our way,” said Lightner.“The drill was chaotic just like a real mass casualty would be, but the Sailors preformed just as they should,” said Hospital Corpsman 1st Class Chelsea Turner. “It was a great success and lets us know that we can be ready when needed.”[mappress]Press Release, May 22, 2014; Image: US Navy Share this article Back to overview,Home naval-today USS Theodore Roosevelt Holds Mock Mass Casualty Drill View post tag: News by topic USS Theodore Roosevelt Holds Mock Mass Casualty Drill Training & Education View post tag: Theodore View post tag: Mocklast_img read more

MINI BIOGRAPHIES (Lincoln)

first_img× MINI BIOGRAPHIES — In celebration of Black History Month Mrs. Suhovic & Ms. Caputo’s first grade class at Lincoln Community School completed Mini Biography projects and learned all about famous African American Women. Pictured are William Cruz, Nalani Barnes, Chief Robertson, Alan Paredes, and Zoe Sanandres.last_img

News story: Funding available for professionals testing extended court hours

first_imgA small amount of funding will be made available by HM Courts and Tribunals Service for publicly funded practitioners taking part in Flexible Operating Hours pilots, with a fee of £100 for attendance at a housing duty solicitor slot and £50 for attending a single hearing. This decision has been made to reflect the short term change in arrangements for participating legal professionals. It will only apply to those who attend court outside the hours of 9am and 5.30pm.HMCTS announced its plans to test early and late sittings in civil and family courts in November last year, to give people greater access to hearings that can fit around their busy lives.Manchester Civil Justice Centre and Brentford County Court will run the pilots for six months, testing whether civil and family buildings can be used more effectively; the benefits of making it possible for people to attend court outside of the traditional 10am — 4pm sitting day; and what more flexibility means for staff and legal professionals.For more information see the Flexible Operating Hours pilots prospectus.Notes to editors Participation fee for publicly funded legal professionals Decision made to reflect short term change in arrangements for participating professionals Flexible Operating Hours pilots to commence by the summer Participation fees will be funded by HMCTS and administered by the Legal Aid Agency (LAA) and would be separate to any normal legal aid claims practitioners would make to the LAA. Pilots are expected to begin by the summer. Any future decision regarding the future of Flexible Operating Hours will be subject to a full and independent evaluation.last_img read more

Jeffrey Hollender forced out of Seventh Generation

first_imgSeventh Generation,Jeffrey Hollender, co-founder and former CEO of Seventh Generation, has been removed as director of the company and his employment has been terminated, according to a spokesperson for the company. The story was first reported by www.greenbiz.com(link is external).Chrystie Heimert told Vermont Business Magazine that the board of directors announced the decision regarding Hollender on October 26. The closely held company is employee owned. Heimert said Hollander and his wife, Sheila, who will remain as an employee and on the board, are still major shareholders in company. Hollender had helped start the company 20 years ago, took it public, then engineered a plan to return it to a private, employee-owned company.Greenbiz.com released an email it said was sent from Hollender to a friend that said, in part, that he was removed from the board and terminated ‘without cause.’ He also said he could not discuss ‘the unpleasant circumstances that led to this.’Fortune Magazine writer, author and Hollender friend Marc Gunther posted the board’s letter and Hollender’s email on his Web site. Heimert said Hollender was removed from the company because there was an issue of leadership. Chuck Maniscalco was Hollender’s hand picked successor, but she said the board did not feel it was “clear and unambiguous” as to who was leading the company.The board’s letter says that Maniscalco tendered his resignation in September, but that the board persuaded him to stay on. The letter also said that Hollender was put on a leave of absence in September. The letter and email are pasted below.Heimert confirmed that when Hollender turned over leadership of Seventh Generation in June 2009 to Maniscalco that a separation agreement between Hollender and the company was put in place and then exercised in October. She also confirmed that Hollender was put on a leave of absence in September. She said she could not release the board letter, but referred Vermont Business Magazine to Gunther’s blog.Maniscalco, she said, will remain as CEO of the company until a new CEO is chosen. Heimert said Maniscalco is now in the process of deciding whether he wants to continue in that role and apply for the job he is currently holding. Seventh Generation, based in Burlington, markets environmentally safe household and personal-care products. www.seventhgeneration.com(link is external)Heimert told Vermont Business Magazine that Seventh Generation employs about 80 in Vermont and a little over 100 system wide; it reported revenues to VBM of $138 million in 2008. Gunther’s blog cited 2009 sales of $150 million.Hollender Email: More than two decades ago, I founded Seventh Generation with the idea of creating a different way of doing business.  Since then, the company has established new benchmarks for ethical and sustainable corporate behavior, grounded in the principles of employee ownership, pay equity, environmental responsibility and transparency.  At the same time, Seventh Generation is a recognized pioneer in its category and a successful business enterprise.On Monday, October 25th, the Seventh Generation Board announced to it’s shareholders and employees that they have ‘decided to end the company’s employment relationship’ with me ‘. . .without cause’.   Though I cannot discuss the circumstances that led to this, I wanted you to hear this news directly from me. [I have also attached the letter that was sent out by the Company.]Over the past twenty years, I have had the privilege to work with an extraordinary group of committed, talented people ‘ and I thank them all and wish them the best. I plan to remain fully engaged in the work of creating a new paradigm for justice, equity and corporate responsibility through my new book, Planet Home that will be published by Random House in January 2011; my work on the boards of Greenpeace and Veritee; and in my role as the co-founder of the American Sustainable Business Council.I greatly appreciate your support and friendship over the years.Board letter:October 26, 2010Dear Friends and Shareholders of Seventh Generation,In the life of every company, there comes a time when the most difficult of decisions must be made. These moments are rarely deliberately sought but instead thrust upon us by unexpected circumstance and by events, which demand that hard choices be made.Recently, the Board of Directors of Seventh Generation faced such a decision and was forced to act in what we firmly believe to be the best interests of both our company and you, its shareholders. First, I want to offer you some context. In mid September, Chuck Maniscalco, our CEO since June 2009, resigned after a very difficult period. Following lengthy discussion the Board convinced Chuck to stay to lead the company at least through a transition while the Board immediately commenced a search for a new CEO. Chuck is personally committed to and focused on leading our company through this transition period, and is considering applying for the job of leading Seventh Generation as part of our search process. We are all committed to having the best leadership we can for our company.With that as background, I want to share with you that, following our September meeting, the Board of Directors reluctantly voted to put Seventh Generation co-founder Jeffrey Hollender on a leave of absence from the company and to remove him from the Board pending further discussions about his future role. Since that time, and after further deliberation, the Board has decided to end the company’s employment relationship with Jeffrey. Importantly, when Jeffrey stepped down as CEO, he negotiated an agreement with the company that allowed for the termination of his employment and provides him with generous severance and other benefits were his employment to end. We have honored that agreement to date, and we intend to honor that agreement going forward. And, I want to assure you that the board, in making these decisions, did so with the best interests of the company, as well as fairness to Jeffrey in mind.All of this was difficult, and I must emphasize that these decisions were not taken lightly. As the leader of the company since its very earliest days and its philosophical guiding light for over two decades, Jeffrey has been an integral part of our brand and an obvious lynch pin of our success, our unique corporate spirit, and our much acclaimed emphasis on equity and justice in the way we conduct our business. It is no overstatement to say that without his unwavering dedication to our cause and his tireless efforts on our company’s behalf, we would not be the company we are today, and indeed might not be here at all. His is a legacy worthy of the highest respect and admiration, and nothing in our recent decision should dim that in any way.Nevertheless, recent events have forced us to choose between divergent paths. We have elected to set the company on the one we strongly feel has the very best chance of fulfilling the commitment we’ve made to all our stakeholders to achieve the greatest possible lasting success, financially but especially in terms of making our world a better, safer place for our children and the following seven generations.To a large extent, present circumstances mirror those at many other companies whose founders have made the decision to turn over the reins to someone else. As organizations grow, so do their managerial requirements. Eventually these increasing layers of complexity demand the recruitment of experienced professional leadership whose abilities and experiences are required to move forward. This is the crossroads at which Seventh Generation now stands.And that is an important point that must be made: Though our leadership has changed, our aspirations have not. It remains our objective to continue to grow Seventh Generation while staying true to the strategies we’ve previously shared with you over the years. We believe deeply in our business and its model, and will continue to do all that is within our power to drive our business, our social mission, and our global imperatives forward.Despite this period of executive transition, the Board remains confident in the company’s ability to continue to grow its business and social mission for long-term success. Our accomplishments over the past year are numerous, and each reflects the company’s ongoing commitment to corporate responsibility and to growth. These important milestones include:‘Achieving three consecutive quarters of growth despite an extraordinarily challenging economic and competitive landscape. Year-to-date, our sales have grown at a double-digit pace, which would be the envy of many of our competitors during this extraordinarily challenging economic landscape.‘Successfully introducing the first ever EPA-registered botanical disinfectant cleaner.‘Launching our first-ever national advertising campaign, which more than doubled awareness of toxic cleaning product issues as well as our brand itself.‘Expanding our already extensive distribution base to include Safeway and also Wal-Mart, a partnership that accelerated our commitment to make green products affordably accessible to more consumers.‘Increasing our involvement with Women’s Action to Gain Economic Security (WAGES) in order to more effectively address our economic equity concerns.‘Marshalling public support for reform of the badly outdated Toxic Substances Control Act.‘Engineering the first cleaning product packaging made from 90% post-consumer recycled content.‘Successfully completing a $30 million equity capital raise with a group of investors aligned with existing shareholders as responsible, long-term stewards of the Seventh Generation brand.Change is always difficult, and this particular evolutionary moment has certainly been more challenging than most. What matters, however, is not what has happened but what will happen. On this count, the Board is confident that it has taken the steps necessary to ensure that Seventh Generation’s untapped growth potential is fully realized in the years ahead. As we move into that promising future, we continue to express our thanks for everything Jeffrey has done for us and for the company he has built. That company has a rewarding road ahead of it indeed, but this success cannot and does not depend on any one individual. Instead it springs from the unique synergy that comes when many act together to realize a singular ideal. That’s the task before us now, and with your continued help and support, I’m certain we’ll achieve it.Respectfully,Peter GrahamChairmanRELATED:Marc Gunther Blog with letter to employees and Hollender email:http://www.marcgunther.com/2010/11/01/seventh-generation-sweeps-out-its-…(link is external) Greenbiz.com Story:http://www.greenbiz.com/blog/2010/11/01/seventh-generation-fires-chief-i…(link is external) Burlington Free Press story:http://www.burlingtonfreepress.com/article/20101102/NEWS01/101102022/Sev…(link is external)center_img 2003 Vermont Business Magazine Profile of Jeffrey Hollender and Seventh Generation:http://vermontbiz.com/article/june/jeffrey-hollender-and-seventh-generationlast_img read more

House works on med mal amendment implementation

first_img House works on med mal amendment implementation Gary Blankenship Senior Editor“It’s like there is a food fight in Florida between the doctors and lawyers and we’re the custodians in the cafeteria cleaning up.”That’s how Rep. Jack Seiler, D-Pompano Beach, summed up disagreements over bills in the House Judiciary Committee to implement constitutional amendments 7 and 8 approved by voters last November.On one side are doctors and hospitals and the other the Academy of Florida Trial Lawyers and Floridians for Patient Protection, a group created by the academy to support the amendments.The committee, after two meetings debating the issues, approved implementing bills on March 16, although some members warned that provisions in both bills may violate the amendments they supposedly implement. Similar bills were pending in the Senate Health Care Committee as this Bar News went to press.Amendment 8 provided that any doctor who has been found to have committed three instances of medical malpractice will have his or her license removed. The implementing legislation provides that only incidents occurring after the passage of the amendment will count, that there must be three incidents within a 10-year period, and only judgments of $50,000 or more will be counted.The bill also ordered the Board of Medicine to set up a panel to review any court verdicts to see if they meet the clear and convincing standard necessary to remove a license, rather than just the preponderance of the evidence standard needed to win the case.Amendment 7 gives patients and potential patients the right to get adverse incident, peer review, and otherwise confidential records. The committee’s bill would allow doctors and hospitals to impose reasonable charges for providing that information and editing out other patients’ names and identifying information. It also would restrict patients to information about conditions that are the same or “substantially similar” to theirs. In addition, none of the information garnered under the amendment can be used in a court case, including to impeach a witness, or to compel testimony.The bill also specifies that released records must be edited to comply with federal common, statutory, and case law to protect patient privacy. Withdrawn from consideration was an amendment that would require citizens receiving records “involving” any other patient information to keep those records confidential.The Academy of Florida Trial Lawyers had argued that no implementing legislation was necessary, but committee Chair Rep. David Simmons, R-Altamonte Springs, who acted as sponsor for the two proposed committee bills, disagreed. He noted that a Sixth Circuit court has already ruled that Amendment 7 has unresolved issues and requires implementing legislation.“I believe this as well as amendment number 8 cry out for the legislature to explain the ambiguities that are inherent in the amendments,” he said.Rep. Jeff Kottkamp, R-Cape Coral, proposed an amendment that would allow the medical records released under the Amendment 7 implementing bill to be used for impeachment in a case, but withdrew it after Simmons objected. Simmons argued that attorneys could “find a way to get it in. Everything is impeachment to them.”Kottkamp, though, objected to the amendment which limited access to adverse incident reports to cases identical or substantially similar to a patient’s. While he said that was a good policy, he argued the amendment approved by voters made no such limitation.“I have a very serious concern that our efforts are going to be all for nothing,” Kottkamp said. “We are limiting the constitution with a statute and I’m not really convinced that is permissible.”Kottkamp, Seiler, Rep. Joe Pickens, R-Palatka, and Rep. Kevin Ambler, R-Tampa, also questioned where the 10-year time period set for three malpractice judgments the Amendment 8 enacting bill would pass constitutional muster, noting the amendment itself set no time limit. The original bill had set five years, but the committee amended it to 10.Kottkamp said he personally would prefer a time limit, but “putting in a five- or 10-year limit is completely contrary to our constitution, whether we like it or not.”Seiler, who participated in drafting many of the amendments for both bills, said he was upset that no one caught the apparent major flaw in Amendment 8 on standards of evidence. He noted while the standard in civil cases is the greater weight or preponderance of the evidence, federal court rulings have said a license cannot be removed unless there is clear and convincing evidence. He noted the issue was not raised when the Florida Supreme Court reviewed the initiative for appropriateness before the election.“I think we have created a tremendous problem and we are going to see this issue again,” Seiler warned.Several representatives were also critical of doctors and lawyers for failing to work out their differences and taking them to voters last November in dueling constitutional amendments. Besides Amendments 7 and 8, which were supported by the Academy of Florida Trial Lawyers, the Florida Medical Association successfully pushed for Amendment 3, which limited lawyers’ contingency fees in medical malpractice cases. They also said the three amendments show what happens when the citizen initiative process is misused.“I think at some point in time, the committee needs to look at repealing [amendments] 3, 7, and 8, which are all bad public policy for the state of Florida,” Seiler said. “We’re affecting health care, we’re affecting consumer rights, and it wasn’t the right thing to do.”Pickens and Kottkamp agreed, with the latter saying, “I think that should be our long term goal to repeal all three of these, otherwise we’re going to be in a world of hurt and not have anyone to treat us in the hospitals.”Representatives were also critical of doctors and lawyers for not trying to find more common ground without resorting to constitutional amendments.“We’ve got to find a solution instead of getting in this bloody water shark fight every year,” said Rep. Dennis Baxley, R-Ocala.Kottkamp, without naming it, placed blame on the FMA which turned down offers from the academy to drop efforts to place Amendment 3 on the ballot if the trial lawyers dropped their efforts for Amendments 7 and 8.“I think it should be said today that at least one of the interest groups in this food fight tried to avoid it and I hope both sides have learned a lesson,” he said. “Insisting on driving the car over the cliff serves no one.” House works on med mal amendment implementation April 1, 2005 Senior Editor Regular Newslast_img read more

6 steps Baby Boomers should take to prepare for IRA changes

first_imgBill Clinton, Cher, Candice Bergen, Andrea Mitchell—household names in the world of politics, entertainment, and journalism—are, along with thousand of your members, reaching age 70 this year.As the first of the baby boomers to reach age 70, the 3.4 million Americans born in 1946 will reach a significant milestone and face significant IRA changes. Starting in the year that they reach age 70½, these baby boomers will no longer be able to contribute to a Traditional IRA, and instead, must begin taking required minimum distributions (RMDs) from their Traditional IRAs.These two significant IRA changes—and the number of IRA owners impacted by them—provide credit unions with an opportunity to reconnect with and provide assistance to an important member demographic and make enhancements to their IRA programs to better meet the needs of this growing demographic.And, it also provides an opportunity for credit unions to evaluate their IRA program operations and make adjustments in light of these changes. This may include adjustments to reflect a drop in contribution activity and an uptick in withdrawals, additional staff time and postage costs to handle RMD mailings, and compliance and legal support associated with increasing numbers of IRA death claims.Following are steps that your credit union can take to prepare your IRA program and your IRA owners for this demographic shift:Educate IRA owners and credit union IRA staff on IRA eligibility requirements. Starting in the year that they reach age 70½, IRA owners are no longer able to contribute to a Traditional IRA. They may or may not know this, so it is important that credit union IRA staff understand the IRA contribution rules, so that they are able to provide IRA owners with accurate information. As many baby boomers plan to work into retirement, they may benefit from making Roth IRA contributions, which unlike Traditional IRA contributions, are permitted after age 70½, if the IRA owner has compensation.  And, even if the IRA owner can no longer make Traditional IRA contributions, his or her nonworking spouse under the age of 70 may be able to rely on the working spouse’s compensation to make a spousal contribution to his or her Traditional IRA.Update IRA owner information on your data processing system. Many of your IRA owners reaching age 70 this year will have opened their IRAs in the early 1980s, when IRAs first became available to most working Americans. After nearly 35 years on your books, many of these accounts lack current contact information, dates of birth, etc. Make sure that you update account information to obtain the IRA owner’s correct date of birth, if you don’t have it, in order to meet the RMD reporting requirements. And, if you don’t have dates of birth and relationships for IRA beneficiaries, obtain this information as well to ensure that you can correctly compute the IRA owner’s RMD.Review your RMD processes and procedures. Under the tax laws, you must provide an RMD statement to the IRA owner by January 31 of the year for which an RMD is required and report to the IRS that an RMD is required for the IRA owner. The IRA owner, however, is responsible for taking their RMD by the deadline. In some cases, you may be required to make payment of the RMD to the IRA owner, if your IRA agreement has language requiring that your credit union make RMD payments. Even though credit unions provide IRA owners with an annual RMD statement, a recent report from the Treasury Inspector General for Tax Administration found that many IRA owners fail to take their RMD because they are unaware of the RMD requirements. In addition to providing IRA owners with an RMD statement, some credit unions choose to provide educational materials that cover the basics of RMDs, including the withholding requirements applicable to RMDs, penalties for failing to take an RMD by the deadline, and the option to delay the first year’s RMD payment to April 1 of the following year, convert a Traditional IRA to a Roth IRA to avoid the RMD requirement, and use a qualified charitable distribution from a Traditional IRA to satisfy the owner’s RMD for the year.Update beneficiary information. Baby boomers have led active lives and their IRA beneficiary forms may not reflect their life changes or current wishes. Upon the death of an IRA owner, credit unions and the IRA owner’s family often discover that the credit union lacks beneficiary information, or worse yet, the beneficiary information is outdated. Former spouses may still remain as the named beneficiary, children born of a subsequent marriage may not be listed as a beneficiary, and parents named as a beneficiary when the IRA owner was single may now be deceased. And, in many cases, beneficiary name and address information is not current, making it nearly impossible for the credit union to contact the rightful recipients of the IRA assets. Credit unions should use this important milestone to urge their IRA owners to update their beneficiary information.Encourage IRA owners to consolidate multiple IRAs at your credit union. Over the past 30 plus years, many individuals have accumulated multiple IRAs and retirement plans, such as a 401(k) plan or 403(b) plan. While an IRA owner can calculate the RMD separately for each IRA they own and take the total of all RMDs from any combination of IRAs owned by the individual, there are many benefits to consolidating multiple IRAs into a single IRA, including reduced maintenance fees, streamlined administration, and having a single point of contact for IRA questions. Inform your IRA owners of the benefits of consolidating their IRAs at your credit union and make it easy for them to consolidate multiple IRAs through the use of a trustee-to-trustee transfer. Credit unions would be well-advised to carefully review the Department of Labor’s recently-released final fiduciary rule to determine how it will affect their policies and procedures related to IRA rollovers.Develop a long-term IRA strategy that addresses the aging baby boomer demographic. In just 13 years, by the time all of the baby boomers have reached age 65, more than 20 percent of the U.S. population will be over age 65. This demographic shift will require credit unions to review their long-term IRA strategy, with the focus shifting from asset accumulation to asset decumulation. If your credit union uses IRA assets to fund your loan portfolio, you’ll need to look for alternatives to offset reduced IRA contribution activity and increased distribution activity. Equally as important as accumulating enough assets to ensure a financially secure retirement is managing the decumulation of assets to ensure that the IRA owner does not outlive his or her retirement assets. If your credit union has an investment or wealth management division, you are well-positioned to help your IRA owners ensure that they manage the decumulation of assets in a way that ensures that they do not outlive their retirement assets.The Economic Recovery Tax Act of 1981 allowed all working taxpayers to establish IRAs and ushered-in an unprecedented era of IRA growth. Now, 35 years later, the first of the baby boomers reaching age 70 will usher in an unprecedented era in RMD growth, as the IRS requires the baby boomers to begin withdrawing their Traditional IRA assets. This demographic shift will be just as important for your IRA program and your IRA owners as the legislative change 35 years ago that allowed all working taxpayers to establish IRAs. 41SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,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