tag:blogger.com,1999:blog-22193283557048838222024-03-13T06:07:28.771-04:00The Personal Finance ChronicleThis blog will contain updates to Personal Finance: An Integrative Planning Approach, 8th Edition, Prentice Hall by Ralph R. Frasca (www.prenhall.com/frasca). The financial environment is constantly changing. In the current crisis any text on personal finance is out of date the minute it comes off the press. Posts on this site will keep you up to date on the most recent changes.Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.comBlogger535125tag:blogger.com,1999:blog-2219328355704883822.post-69259249232899160522011-02-23T09:17:00.001-05:002011-02-23T09:19:47.296-05:00CRS Report Reviews Retirement Plans<p>Source: Congressional Research Service</p> <blockquote> <p><a href="http://assets.opencrs.com/rpts/R40707_20110107.pdf"><strong>401(k) Plans and Retirement Savings: Issues for Congress</strong></a> (PDF)</p> <p>Over the past 25 years, defined contribution (DC) plans--including 401(k) plans--have become the most prevalent form of employer-sponsored retirement plan in the United States. The majority of assets held in these plans are invested in stocks and stock mutual funds, and the decline in the major stock market indices in 2008 greatly reduced the value of many families' retirement savings. The effect of stock market volatility on families' retirement savings is just one issue of concern to Congress with respect to defined contribution retirement plans.</p> <p>This report describes seven major policy issues with respect to defined contribution plans: 1. Access to employer-sponsored retirement plans. In 2007, only 61% of employees in the private sector were offered a retirement plan of any kind at work. Fifty-five percent were offered a DC plan. Only 45% of workers at establishments with fewer than 100 employees were offered a retirement plan of any kind in 2007. Forty-two percent were offered a defined contribution plan.</p> <p>2. Participation in employer-sponsored plans. Between 20% and 25% of workers whose employer offers a DC plan do not participate. Workers under age 35 are less likely than older workers to participate.</p> <p>3. Contribution rates. On average, participants in DC plans contributed 6% of pay to the plan in 2007. The median contribution by household heads who participated in a DC plan in 2007 was $3,360. This was just 22% of the maximum allowable contribution of $15,500 in that year.</p> <p>4. Investment choices. At year-end 2007, 78% of all DC plan assets were invested in stocks and stock mutual funds. This ratio varied little by age, indicating that many workers nearing retirement were heavily invested in stocks and risked substantial losses in a market downturn like that in 2008. Investment education and target date funds could help workers make better investment decisions.</p> <p>5. Fee disclosure. Retirement plans contract with service providers to provide investment management, record-keeping, and other services. There can be many service providers, each charging a fee that is ultimately paid by participants in 401(k) plans. The arrangements through which service providers are compensated can be very complicated and fees are often not clearly disclosed.</p> <p>6. Leakage from retirement savings. Pre-retirement withdrawals from retirement accounts are sometimes called "leakages." Current law represents a compromise between limiting leakages from retirement accounts and allowing people to have access to their retirement funds in times of great need. In general, borrowing from a 401(k) plan poses less risk to retirement security than a withdrawal. Pre-retirement withdrawals can have adverse long-term effects on retirement income.</p> <p>7. Converting retirement savings into income. Retirees face many financial risks, including living longer than they expected, investment losses, inflation, and possible large expenses for medical care and long-term care. Annuities can protect retirees from some of these risks, but few retirees purchase them. Developing polices that motivate retirees to convert assets into a reliable source of income will be a continuing challenge for Congress and other policymakers.</p> <p><a href="http://lh3.ggpht.com/_hSy9F5eEhdc/TWUXfMqNAgI/AAAAAAAAAbI/Yl8rHkiQLbM/s1600-h/image%5B5%5D.png"><img style="background-image: none; border-bottom: 0px; border-left: 0px; padding-left: 0px; padding-right: 0px; display: inline; border-top: 0px; border-right: 0px; padding-top: 0px" title="image" border="0" alt="image" src="http://lh3.ggpht.com/_hSy9F5eEhdc/TWUXgk1L9II/AAAAAAAAAbM/znhZIMTW0os/image_thumb%5B3%5D.png?imgmax=800" width="618" height="524" /></a></p> <p><a href="http://assets.opencrs.com/rpts/R40707_20110107.pdf">Read more.</a></p></blockquote> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-32184542818006710792011-02-23T09:08:00.001-05:002011-02-23T09:09:01.473-05:00Health Insurance Premiums Continue Upward Trend<p>Source: Congressional Budget Office</p> <blockquote> <p><a href="http://assets.opencrs.com/rpts/R41588_20110111.pdf"><strong>Private Health Insurance Premiums and Rate Reviews</strong></a> (PDF)</p> <p align="justify">Health insurance premiums have been trending up, while the value of coverage has trended down. Available data indicate that both administrative and medical costs continue to rise, but the rate of <br />growth in these expenses slowed between 2008 and 2009. The data also suggest that the rise in medical costs is primarily attributable to the price of services, not increased utilization.  </p> <p align="justify"><a href="http://lh4.ggpht.com/_hSy9F5eEhdc/TWUUwa6tgGI/AAAAAAAAAbA/w4Pf0nzhXEM/s1600-h/image%5B3%5D.png"><img style="background-image: none; border-bottom: 0px; border-left: 0px; padding-left: 0px; padding-right: 0px; display: inline; border-top: 0px; border-right: 0px; padding-top: 0px" title="image" border="0" alt="image" src="http://lh6.ggpht.com/_hSy9F5eEhdc/TWUUxH8EQAI/AAAAAAAAAbE/-Q8Yw9r5qas/image_thumb%5B1%5D.png?imgmax=800" width="576" height="509" /></a></p> <p align="justify"><a href="http://assets.opencrs.com/rpts/R41588_20110111.pdf">Read more.</a></p></blockquote> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-49167691010478388932011-01-26T09:04:00.001-05:002011-01-26T09:04:36.176-05:00IRS Provides I-Phone App<p align="left">Source: IRS</p> <object style="height: 390px; width: 640px"><param name="movie" value="http://www.youtube.com/v/LlOL7-wrjVg?version=3"><param name="allowFullScreen" value="true"><param name="allowScriptAccess" value="always"><embed src="http://www.youtube.com/v/LlOL7-wrjVg?version=3" type="application/x-shockwave-flash" allowfullscreen="true" allowScriptAccess="always" width="640" height="390"></object> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-70522465852798542212011-01-19T10:51:00.001-05:002011-01-19T10:51:25.262-05:00FTC Offers Tips on Making the Most of Your Auto Warranty<p>Source: Federal Trade Commission</p> <blockquote> <p>Can a dealer void your car’s warranty if you have someone else do routine maintenance on the vehicle?  The answer is no, and the Federal Trade Commission wants to make sure consumers know it.</p> <p>Under federal law, it is illegal for manufacturers or dealers to refuse to honor a warranty or to deny coverage simply because someone other than the dealer did work on the car.  And dealers must be able to demonstrate that improper repair caused the damage that they refuse to cover.</p> <p>The FTC, the nation’s consumer protection agency, offers these and other <a href="http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt192.shtm">tips</a> for American consumers to help them make smart decisions and get the most out of their auto warranties.  For example, if an independent mechanic improperly replaced a belt and the engine is damaged as a result, a manufacturer or dealer may only deny responsibility for fixing the engine under the warranty after demonstrating that the improper belt replacement – rather than some other defect – caused the engine damage.  However, the warranty would still be in effect for other parts of the car.</p> <p>The same is true of ‘aftermarket’ parts made by a company other than the vehicle manufacturer or the original equipment manufacturer:  The manufacturer may not deny warranty coverage unless it can show that the aftermarket equipment caused the need for repairs. <br />Other tips from the FTC include:</p> <ul> <li><strong>Read the warranty</strong> that came with the car, or check the “Owners” section of the manufacturer’s website. </li> <li><strong>Be aware of when the warranty period ends, </strong>and get any problems that arise checked out beforehand. </li> <li><strong>Service the car at regular intervals</strong>, following the manufacturer’s recommended service schedule. </li> <li><strong>Keep all service records and receipts, regardless of who performs the service.  </strong>This includes oil changes, tire rotations, belt replacement, new brake pads, and inspections.  These receipts can be used to prove that the vehicle was properly maintained. </li> <li><strong>Complain </strong>if you believe your<strong></strong>warranty claim has been denied unfairly.  Speak to a supervisor at the dealership, then go to the manufacturer or another dealer.  Consider filing a complaint with the state Attorney General, local consumer protection office, local Better Business Bureau, or the FTC.</li> </ul> <p>The FTC works to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a <a href="https://www.ftccomplaintassistant.gov/">complaint</a> or get <a href="http://ftc.gov/bcp/consumer.shtm">free information on consumer issues</a>, visit <a href="http://ftc.gov/">ftc.gov</a> or call toll-free, 1-877-FTC-HELP ( 1-877-382-4357 ); TTY: 1-866-653-4261 . Watch a new video, <u><a href="http://ftc.gov/multimedia/video/scam-watch/file-a-complaint.shtm">How to File a Complaint</a></u>, at<a href="http://ftc.gov/video">ftc.gov/video</a> to learn more. The FTC enters consumer complaints into the <a href="http://ftc.gov/sentinel/">Consumer Sentinel Network</a>, a secure online database and investigative tool used by more than 1,800 civil and criminal law enforcement agencies in the U.S. and abroad.</p></blockquote> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-23615843341037981232011-01-10T10:35:00.001-05:002011-01-10T10:35:22.337-05:00The Economics of the Dependent Exemption<p>Source: Urban Institute</p> <blockquote> <h3>Who Benefits From the Dependent Exemption?</h3> <h4></h4> <p><a href="http://www.urban.org/ElaineMaag">Elaine Maag</a></p> <h4>Abstract</h4> <p align="justify">The dependent exemption reduces taxable income by a fixed amount ($3,650 in 2010) for each qualifying child in the family. Benefits depend on a family's marginal tax rate. Low-income families receive a tax reduction of up to $365 per exemption compared to high income families that receive a tax reduction of $1,278 per exemption. Benefits flow mostly to families with relatively high incomes. In 2010, TPC estimates 1.5 percent of benefits will accrue to families in the lowest income quintile while 57.1 percent of benefits will accrue to families in the top 40 percent of the income distribution.</p> <p align="justify"><a href="http://www.urban.org/publications/1001478.html">Read more.</a></p></blockquote> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-37430911240807647932011-01-10T10:31:00.001-05:002011-01-10T10:31:59.471-05:00Social Security: Lifetime Benefits and Costs<h3>Source: Urban Institute</h3> <blockquote> <h3>Social Security and Medicare Taxes and Benefits Over a Lifetime</h3> <h4></h4> <p><a href="http://www.urban.org/CEugeneSteuerle">C. Eugene Steuerle</a>, <a href="http://www.urban.org/StephanieRennane">Stephanie Rennane</a></p> <p><strong>Publication Date:</strong> January 03, 2011</p> <p>How much will you pay in Social Security and Medicare taxes over your lifetime? And how much can you expect to get back in benefits? It depends on whether you're married, when you retire, and how much you've earned over a lifetime.</p> <p>These tables provide estimates of the lifetime value of Social Security and Medicare benefits and taxes for typical workers in different generations at various earning levels. The "lifetime value of taxes" is based upon the value of accumulated taxes, as if those taxes were put into an account that earned a 2 percent real rate of return (that is, 2 percent plus inflation). The "lifetime value of benefits" represents the amount needed in an account (also earning a 2 percent real interest rate) to pay for those benefits.</p> <p><strong>View the tables: <a href="http://www.urban.org/UploadedPDF/social-security-medicare-benefits-over-lifetime.pdf">tables in PDF format</a> | <a href="http://www.urban.org/Tables/social-security-medicare-benefits-over-lifetime.doc">tables in Word format</a></strong></p></blockquote> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-44110821930891082462011-01-06T09:18:00.001-05:002011-01-06T09:21:11.693-05:00The New $100 Bill<p>Source: U.S. Treasury</p> <p align="center"><object width="640" height="385"><param name="movie" value="http://www.youtube.com/v/JwEBIC0a4RY?fs=1&hl=en_US"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/JwEBIC0a4RY?fs=1&hl=en_US" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="640" height="385"></embed></object></p> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-30901491182953063542010-12-27T11:48:00.001-05:002010-12-27T11:48:38.764-05:00A History of U.S. Consumer Finance<p>Source: Harvard Business School</p> <blockquote> <h4>A Brief Postwar History of US Consumer Finance  </h4> <p>by Andrea Ryan, Gunnar Trumbull and Peter Tufano </p> <p align="justify">This article describes the consumer finance sector in the US since World War II.   We first define the sector in terms of the functions delivered by firms (payments, savings/investing, borrowing, managing risk, and providing advice.)  We provide time series evidence on major trends in consumption, savings, and borrowing.  Examining consumer decisions, changes in regulation, and business practices, we identify four major themes that characterize the sector: (a) innovation that increased the choices available to consumer; (b) enhanced access in the form of broadening participation of consumers in financial activities, (c) do-it-yourself consumer finance, which allowed and forced consumers to take greater responsibility for their own financial lives, and (d) the resultant increase in household risk taking</p> <p align="justify"><a href="http://www.hbs.edu/research/pdf/11-058.pdf">Read more.</a></p></blockquote> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-60995286810462507622010-12-21T10:12:00.001-05:002010-12-21T10:12:30.495-05:00Only 39 Percent Complete Undergraduate Degree in 4 YearsSource: National Center for Education Statistics <blockquote> <p align="justify"><strong><a href="http://nces.ed.gov/pubsearch/pubsinfo.asp?pubid=2011221">Tracking Students to 200 Percent of Normal Time: Effect on Institutional Graduation Rates</a></strong> <br /> <br />A majority of college graduates take longer to earn a degree than what is commonly thought to be the “normal” amount of time it should take—4 years for a bachelor’s degree and 2 years for an associate’s degree. For example, among college graduates who earned a bachelor’s degree in 1999–2000, about two-fifths (39 percent) had completed the degree in 4 years (Bradburn et al. 2003). A majority (72 percent) of this cohort, however, had completed a bachelor’s degree within 6 years, while 14 percent took 6–10 years and the remaining 14 percent took more than 10 years. Similarly, among a survey of students who started college in 1995–96 with the goal of completing an associate’s degree, less than one-fifth (17 percent) completed the degree in 2 years, 43 percent took 2–3 years, and another 40 percent took 3–6 years.</p> <p align="justify"><a href="http://nces.ed.gov/pubs2011/2011221.pdf">Read more.</a></p></blockquote> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-78752046404418755772010-12-21T09:49:00.001-05:002010-12-21T10:12:59.317-05:00Health Care Expenditures by Gender and Age<p>Source:  Health Affairs</p> <blockquote> <p><strong><a href="http://content.healthaffairs.org/content/early/2010/12/07/hlthaff.2010.0216.full">Pronounced Gender And Age Differences Are Evident In Personal Health Care Spending Per Person</a></strong></p> <p>This paper examines differences in national health care spending by gender and age. Our research found significant variations in per person spending by gender across age groups, health services, and types of payers. For example, in 2004 per capita health care spending for females was 32 percent more than for males. Per capita differences were most pronounced among the working-age population, largely because of spending for maternity care. Except for children, total spending for and by females was greater than that for and by males, for most services and payers. The gender difference in total spending was most pronounced in the elderly, as a result of the longer life expectancy of women.</p> </blockquote> <h4>US Personal Health Care Spending, By Gender, Age, And Service, 2004</h4> <span style="line-height: normal; widows: 2; text-transform: none; text-indent: 0px; border-collapse: separate; font-family: ; white-space: normal; orphans: 2; letter-spacing: normal; word-spacing: 0px; -webkit-border-horizontal-spacing: 0px; -webkit-border-vertical-spacing: 0px; -webkit-text-decorations-in-effect: none; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px" class="Apple-style-span"><span style="text-align: left; line-height: 25px; font-family: " class="Apple-style-span"> <table style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; padding-right: 0px; border-collapse: collapse; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; -webkit-border-horizontal-spacing: 0px; -webkit-border-vertical-spacing: 0px; background-origin: initial; background-clip: initial" id="table-1" width="767" frame="void"><colgroup style="line-height: 15.12pt; background-color: transparent !important; margin-top: 12px; font-family: ; background-origin: initial; background-clip: initial" id="colgroup-1"><col style="line-height: 1.4em; background-color: transparent !important; margin-top: 12px; font-family: inherit; color: rgb(34,34,34); font-size: 18px !important; background-origin: initial; background-clip: initial" id="column-1" /><col style="line-height: 1.4em; background-color: transparent !important; margin-top: 12px; font-family: inherit; color: rgb(34,34,34); font-size: 18px !important; background-origin: initial; background-clip: initial" id="column-2" class="table-char" char="." /><col style="line-height: 1.4em; background-color: transparent !important; margin-top: 12px; font-family: inherit; color: rgb(34,34,34); font-size: 18px !important; background-origin: initial; background-clip: initial" id="column-3" class="table-char" char="." /><col style="line-height: 1.4em; background-color: transparent !important; margin-top: 12px; font-family: inherit; color: rgb(34,34,34); font-size: 18px !important; background-origin: initial; background-clip: initial" id="column-4" class="table-char" char="." /><col style="line-height: 1.4em; background-color: transparent !important; margin-top: 12px; font-family: inherit; color: rgb(34,34,34); font-size: 18px !important; background-origin: initial; background-clip: initial" id="column-5" class="table-char" char="." /></colgroup><thead style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="thead-1"> <tr style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="tr-1"> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: bottom; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-1" class="table-vbottom" valign="bottom" rowspan="2"><font face="Arial">Service/age group (years)</font></td> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-2" class="table-left table-bborder" colspan="2"><font face="Arial">Total spending (billions of dollars)</font></td> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: top; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-3" class="table-left table-vtop table-bborder" valign="top" colspan="2"><font face="Arial">Per capita spending (dollars)</font></td> </tr> <tr style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="tr-2"> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: top; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-4" class="table-left table-vtop" valign="top"><font face="Arial">Females</font></td> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: top; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-5" class="table-left table-vtop" valign="top"><font face="Arial">Males</font></td> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: top; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-6" class="table-left table-vtop" valign="top"><font face="Arial">Females</font></td> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: top; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-7" class="table-left table-vtop" valign="top"><font face="Arial">Males</font></td> </tr> </thead><tbody style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="tbody-1"> <tr style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="tr-3"> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-8"><font face="Arial">All personal health care</font></td> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-9"><font face="Arial">$887.9</font></td> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-10"><font face="Arial">$662.0</font></td> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-11"><font face="Arial">$ 5,989</font></td> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-12"><font face="Arial">$ 4,541</font></td> </tr> <tr style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="tr-4"> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-13"><font face="Arial">0–18</font></td> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-14"><font face="Arial">99.5</font></td> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-15"><font face="Arial">108.8</font></td> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-16"><font face="Arial">2,620</font></td> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-17"><font face="Arial">2,736</font></td> </tr> <tr style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="tr-5"> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-18"><font face="Arial">19–64</font></td> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-19"><font face="Arial">464.9</font></td> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-20"><font face="Arial">345.5</font></td> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-21"><font face="Arial">5,202</font></td> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-22"><font face="Arial">3,797</font></td> </tr> <tr style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="tr-6"> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-23"><font face="Arial">65+</font></td> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-24"><font face="Arial">323.4</font></td> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-25"><font face="Arial">207.7</font></td> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-26"><font face="Arial">15,493</font></td> <td style="padding-bottom: 0px; line-height: 15.12pt; border-right-width: 0px; background-color: transparent !important; margin: 12px 0px 0px; outline-style: none; padding-left: 0px; width: auto !important; padding-right: 0px; font-family: ; border-top-width: 0px; border-bottom-width: 0px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; background-origin: initial; background-clip: initial" id="td-27"><font face="Arial">13,809</font></td> </tr> </tbody></table> <p><a href="http://content.healthaffairs.org/content/early/2010/12/07/hlthaff.2010.0216.full">Read more.</a></p> </span></span> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-32572744261500061482010-12-21T09:41:00.001-05:002010-12-21T09:41:06.475-05:00How Much Can Baby Boomers Expect to Inherit<p>Source: MetLife Mature Market Institute</p> <blockquote> <p><a href="http://www.metlife.com/mmi/research/inheritance-and-wealth-transfer-to-baby-boomers.html?WT.ac=PRO_Pro2_NewMMI_5-18421_T4297-MM-mmi&oc_id=PRO_Pro2_NewMMI_5-18421_T4297-MM-mmi#findings"><strong>Inheritance and Wealth Transfer to Baby Boomers</strong></a> <br />The figures, drawn from national survey data, say the wealthiest Boomers will be given an average of $1.5 million, while those at the other end of the spectrum will be left $27,000, an amount that represents a larger percentage of the latter group’s overall wealth.  Two-thirds of all Boomers stand to receive some inheritance over their lifetimes.</p> <p><img style="display: block; float: none; margin-left: auto; margin-right: auto" alt="Inheritance and Wealth Transfer" src="http://www.metlife.com/assets/cao/mmi/Images/2010/mmi-inheritance-wealth-transfer-chart.jpg" width="683" height="325" /></p> </blockquote> <blockquote> <p><a href="http://www.metlife.com/mmi/research/inheritance-and-wealth-transfer-to-baby-boomers.html?WT.ac=PRO_Pro2_NewMMI_5-18421_T4297-MM-mmi&oc_id=PRO_Pro2_NewMMI_5-18421_T4297-MM-mmi#findings">Read more.</a></p></blockquote> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-47114527131287687032010-12-21T09:21:00.001-05:002010-12-21T09:28:04.989-05:00The Price of College<p>Source:  National Center for Education Statistics</p> <p><a href="http://nces.ed.gov/pubsearch/pubsinfo.asp?pubid=2011175"><strong>What Is the Price of College? Total, Net, and Out-of-Pocket Prices in 2007–08</strong></a></p> <p>Source:  National Center for Education Statistics</p> <blockquote> <p>This Statistics in Brief describes the annual price of education among undergraduates enrolled in U.S. postsecondary institutions in 2007–08. The most recent administration of the National Postsecondary Student Aid Study (NPSAS) supplied the data.</p> <p><a href="http://lh5.ggpht.com/_hSy9F5eEhdc/TRC3z47t6HI/AAAAAAAAAaw/dd6-yOaPmq0/s1600-h/image%5B3%5D.png"><img style="background-image: none; border-bottom: 0px; border-left: 0px; padding-left: 0px; padding-right: 0px; display: block; float: none; margin-left: auto; border-top: 0px; margin-right: auto; border-right: 0px; padding-top: 0px" title="image" border="0" alt="image" src="http://lh6.ggpht.com/_hSy9F5eEhdc/TRC31BlxxII/AAAAAAAAAa0/BTH6JyBZWB4/image_thumb%5B1%5D.png?imgmax=800" width="472" height="558" /></a></p> </blockquote> <blockquote> <p><a href="http://nces.ed.gov/pubs2011/2011175.pdf">Read more</a></p></blockquote> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-55644424297123566142010-12-20T09:59:00.000-05:002010-12-21T10:01:01.025-05:00Recent Likelihood of Identity Theft 1 in 20<p>Source:  Bureau of Justice Statistics</p> <blockquote> <p><strong><strong><a href="http://bjs.ojp.usdoj.gov/index.cfm?ty=pbdetail&iid=2222">Victims of Identity Theft, 2008</a></strong></strong></p> </blockquote> <blockquote> <p align="justify">Presents findings from the 2008 Identity Theft Supplement (ITS) to the National Crime Victimization Survey (NCVS). The NCVS/ITS used interviews from a nationally representative sample of about 56,500 U.S. household residents to collect the first BJS data on individual victims of identity theft. Identity theft is defined as the unauthorized use or attempted use of existing accounts, the unauthorized use or attempted use of personal information to open a new account, and the misuse or attempted use of personal information for a fraudulent purpose. The report details the number and percentage of persons who reported at least one incident of identity theft over the past two years, the amount of direct and indirect financial loss due to identity theft, victim reporting to credit bureaus and law enforcement agencies, and the impact of identity theft on victims' lives.</p> <p>Highlights include the following:</p> </blockquote> <ul> <li>An estimated 11.7 million persons, representing 5% of all persons age 16 or older in the United States, experienced at least one type of identity theft in a 2-year period. </li> <li>Although the total financial cost of identity theft was nearly $17.3 billion over a 2-year period, less than a quarter (23%) of identity theft victims suffered an out-of-pocket financial loss from the victimization. </li> <li>About 42% of victims spent 1 day or less working to resolve the financial and credit problems associated with the identity theft; however, 3% continued to experience problems related to the theft more than 6 months after discovering it. </li> </ul> <blockquote> <p><a href="http://bjs.ojp.usdoj.gov/content/pub/pdf/vit08.pdf">Read more.</a></p></blockquote> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-35352029003762624422010-12-13T09:28:00.001-05:002010-12-13T09:28:36.816-05:00Expected Inflation Risk Premium<p>Source: Federal Reserve Bank of Cleveland</p> <blockquote> <h5>News Release: November 17, 2010</h5> <p>The Federal Reserve Bank of Cleveland reports that its latest estimate of 10-year expected inflation is 1.50 percent. In other words, the public currently expects the inflation rate to be less than 2 percent on average over the next decade.</p> <p><a href="http://www.clevelandfed.org/research/data/inflation_expectations/index.cfm">Read more.</a></p> </blockquote> <p><img style="display: block; float: none; margin-left: auto; margin-right: auto" src="http://www.clevelandfed.org/research/data/inflation_expectations/2010/November/image1.gif" /></p> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-72234331822435115182010-12-08T10:48:00.001-05:002010-12-08T10:48:27.940-05:00IRS Announces 2011 Standard Mileage Rates<p>Source: IRS</p> <blockquote> <p>IR-2010-119, Dec. 3, 2010</p> <p>WASHINGTON — The Internal Revenue Service today issued the 2011 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. <br />Beginning on Jan. 1, 2011, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:</p> <ul> <li>51 cents per mile for business miles driven </li> <li>19 cents per mile driven for medical or moving purposes </li> <li>14 cents per mile driven in service of charitable organizations</li> </ul> <p>The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs as determined by the same study. Independent contractor Runzheimer International conducted the study.</p> <p>A taxpayer may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS) or after claiming a Section 179 deduction for that vehicle. In addition, the business standard mileage rate cannot be used for any vehicle used for hire or for more than four vehicles used simultaneously.</p> <p>Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.</p> <p><a href="http://www.irs.gov/pub/irs-drop/rp-10-51.pdf">Revenue Procedure 2010-51</a> contains additional details regarding the standard mileage rates.</p></blockquote> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-43955211773269471912010-12-07T10:49:00.001-05:002010-12-07T10:49:44.124-05:00Where Does All The Time Go?<p>Source: Alfred P. Sloan Foundation/Focus on Workplace Flexibility</p> <blockquote> <h4 align="justify">Family Change and Time Allocation in American Families</h4> <p align="justify">Suzanne M. Bianchi, UCLA <br />Abstract <br />In this paper, I briefly discuss family demographic changes. Then I use the American Time Use Survey (ATUS) and the historical time diary studies in the U.S. to document trends in parents’ time spent in paid work, housework and childcare. I also describe the activities parents forego in order to meet work and family demands. Finally, I discuss time devoted to adult care and help given to adult children, elderly parents, and friends later in the life course.</p> <p align="justify"><a href="http://workplaceflexibility.org/images/uploads/program_papers/bianchi_-_family_change_and_time_allocation_in_american_families.pdf">Read more.</a></p></blockquote> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-44924017654912256702010-12-07T09:59:00.001-05:002010-12-07T09:59:07.919-05:00Finding Day Care Services<p>Source: MetLife</p> <blockquote> <h4 align="justify">The Essentials: Adult Day Services</h4> <p align="justify">Coping with a chronic illness or disability that impacts one’s independence, ability to manage daily activities, and opportunity to socialize with others can be overwhelming for an individual. Chronic illness and disability also significantly impact the family members that provide support and care to him or her. Family caregivers are often juggling caregiving with the many other demands in their lives, often both at home and at work. </p> <p align="justify">Finding care resources to meet your needs or those of a loved one is not always easy and it can be very costly both at home, depending upon the level of care needed, or in a residential care setting such as an assisted living community or a nursing home. Most people want to remain at home if possible. One option to consider is Adult Day Services (ADS). These centers have two primary missions: 1) to provide individuals with needed care, socialization, and supervision in a community setting and 2) to provide caregivers respite from the demanding responsibilities of caregiving. </p> <p align="justify"><a href="http://www.metlife.com/assets/cao/mmi/publications/essentials/mmi-essentials-adult-day-services.pdf">Read more.</a></p></blockquote> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-37344963331037973032010-12-07T09:47:00.001-05:002010-12-07T09:47:51.707-05:00PEW Report on Student Borrowing<p>Source: PEW Research Center</p> <h4>The Rise of College Student Borrowing</h4> <p>By <a href="http://pewsocialtrends.org/author/rhinze-pifer/">Rebecca Hinze-Pifer</a> and <a href="http://pewsocialtrends.org/author/rfry/">Richard Fry</a></p> <p><a name="i-overview"></a><a name="toc-anchor-6638-1"></a></p> <p>Undergraduate college student borrowing has risen dramatically in recent years. Graduates who received a bachelor’s degree in 2008<sup><a href="http://pewsocialtrends.org/2010/11/23/the-rise-of-college-student-borrowing/#fn-6638-1">1</a></sup> borrowed 50% more (in inflation-adjusted dollars) than their counterparts who graduated in 1996, while graduates who earned an associate’s degree or undergraduate certificate in 2008 borrowed more than twice what their counterparts in 1996 had borrowed, according to a new analysis of National Center for Education Statistics data by the Pew Research Center’s Social & Demographic Trends project.</p> <p><a href="http://pewsocialtrends.org/2010/11/23/the-rise-of-college-student-borrowing/">Read more.</a></p> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-1126571644373108312010-11-30T09:49:00.001-05:002010-11-30T09:49:27.293-05:00Society of Actuaries on Retirement Needs of Mid-level Households.<p>Source: Society of Actuaries</p> <blockquote> <p align="justify"><strong>Segmenting the Middle Market: Retirement Risks and Solutions–Phase 2 Report</strong></p> <p align="justify">The Society of Actuaries' Committee on Post Retirement Needs and Risks is pleased to make available the Phase 2 report of this two-phase effort. Phase 2 identifies basic issues and potential solutions that are important as mid-level net worth households in or near retirement address the financial risks they face in contemplating retirement. It includes 12 user-friendly reference profiles of the pre-retirees and retirees identified in Phase 1.</p> <p align="justify"><a href="http://www.soa.org/research/research-projects/pension/research-segmenting-market-phase-2.aspx">Read more.</a></p></blockquote> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-69906684155448147672010-11-30T09:44:00.001-05:002010-11-30T09:44:18.862-05:00Insurance Information Institute Report Examines High Risk Property Casualty Programs<p>Source: Insurance Information Institute</p> <blockquote> <h4 align="justify">Residual Market Property Plans: From Markets of Last Resort to Markets of First Choice - 2010</h4> <h5 align="justify">BY DR. ROBERT P. HARTWIG, CPCU AND CLAIRE WILKINSON</h5> <p align="justify">NOVEMBER 17, 2010</p> <p align="justify">A myriad of different programs in place across the United States provide insurance to high risk policyholders who may have difficulty obtaining coverage from the standard market. So called residual, shared or involuntary market programs make basic insurance coverage more readily available. An updated report by the Insurance Information Institute (I.I.I.) titled “Residual Market Property Plans: From Markets of Last Resort to Markets of First Choice” examines the property insurance coverage provided by Fair Access to Insurance Requirements (FAIR) Plans, Beach and Windstorm Plans, and two state-run insurance companies in Florida and Louisiana: Florida Citizens Property Insurance Company (CPIC) and Louisiana Citizens Property Insurance Corporation (Louisiana Citizens). Also discussed in detail are the plans in Alabama, Massachusetts, Mississippi, North Carolina, South Carolina and Texas. This year’s I.I.I. report, like the reports of the last two years, records the ongoing growth in the exposure base of the residual market property insurers along with the still precarious financial condition of some plans. The growth comes despite a collapse in the housing sector that has brought development in many catastrophe-prone areas to a near standstill.</p> <p align="justify"><a href="http://www.iii.org/assets/docs/pdf/ResidualMarketUpdate2010.pdf">Read more.</a></p></blockquote> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-23738766082114540372010-11-30T09:30:00.001-05:002010-11-30T09:30:10.547-05:00FTC Issues Final Rule Protecting Homeowners from Mortgage Scams<p>Source: Federal Trade Commission</p> <blockquote> <h4 align="justify">Rule Outlaws Advance Fees and False Claims, Requires Clear Disclosures</h4> <p align="justify">Homeowners will be protected by a new Federal Trade Commission rule that bans providers of mortgage foreclosure rescue and loan modification services from collecting fees until homeowners have a written offer from their lender or servicer that they decide is acceptable.</p> <p align="justify"><a href="http://www.ftc.gov/opa/2010/11/mars.shtm">Read more.</a></p></blockquote> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-90533981777238862132010-11-18T09:48:00.001-05:002010-11-18T09:48:20.729-05:00New Jersey Can’t Take Unused Gift Cards<p>Source: Law.Com</p> <blockquote> <h4>U.S. Judge Enjoins N.J. Law Allowing State To Swipe Unused Gift Cards</h4> <p>By Charles Toutant <br />New Jersey Law Journal <br />November 15, 2010</p> <p>A federal judge has turned back New Jersey's attempt to help plug its budget gap by grabbing $79.5 million in unused gift card funds, finding merit in challengers' arguments that the law is on shaky constitutional ground.</p> <p><a href="http://www.law.com/jsp/nj/PubArticleNJ.jsp?id=1202474920957">Read more:</a> registration required</p></blockquote> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-1271649983045646352010-11-18T09:40:00.001-05:002010-11-18T09:41:49.283-05:00NPR Nursing Home Database<p>Source: National Public Radio</p> <blockquote> <p>This interactive database, an NPR News exclusive, has information about the independence level of residents at nearly 16,000 individual nursing homes around the country. For each facility, see what percentage of residents can do various daily living tasks by themselves — an indication of their potential for community-based living.</p> <p><a href="http://www.npr.org/2010/11/08/131070921/npr-nursing-home-database">Go to Database.</a></p></blockquote> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-66532099125434093622010-11-18T09:06:00.001-05:002010-11-18T09:06:11.540-05:00Going to College, Buy a Home<p>Source: Caldwell Banker</p> <blockquote> <h5>OLDWELL BANKER REAL ESTATE SURVEY FINDS NEW TREND IN COLLEGE TOWNS: “PARENT INVESTORS” BUYING HOMES VS. SPENDING ON RENT OR DORMS</h5> <p><em><strong>Coldwell Banker Home Listing Report Released Ranking Affordability of College Towns; Muncie, Ind. Most Affordable College Town; Palo Alto, Calif. Most Expensive</strong></em></p> <p><strong>PARSIPPANY, N.J. (Nov. 11, 2010)</strong> – Every fall, parents wave goodbye as their college-bound kids pack up their belongings, make the drive down university lane and prepare for football games, mid-terms and freedom. While college living is often associated with dorms and campus housing, Coldwell Banker Real Estate LLC discovered that many parents are opting to purchase a home rather than spend money on rent or dorm fees. According to a recent survey among the Coldwell Banker® network of real estate professionals in college towns, 64 percent see a significant number of “parent investors” buying homes for their kids to live in while attending the university.</p> <p><a href="http://hlr.coldwellbanker.com/PressRelease.aspx">Read more.</a></p></blockquote> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0tag:blogger.com,1999:blog-2219328355704883822.post-40627480221513822512010-11-15T16:15:00.001-05:002010-11-15T16:15:21.011-05:00Survey Shows Long-term Care Costs Rising<p>Source: MetLife</p> <blockquote> <h4>The 2010 MetLife Market Survey of Nursing Home, Assisted Living, Adult Day Services, and Home Care Costs</h4> <p>This survey provides national, statewide, and, in certain states (based on population), area-specific costs, average private-pay, daily rates for private and semi-private rooms in a nursing home, monthly base rates in assisted living communities, hourly rates for home health aide and homemaker services, and daily rates for adult day services</p> <p><a href="http://www.metlife.com/mmi/research/2010-market-survey-ltcc.html?WT.ac=PRO_Pro2_NewMMI_5-18421_T4297-MM-mmi&oc_id=PRO_Pro2_NewMMI_5-18421_T4297-MM-mmi#findings">Read more.</a></p></blockquote> Ralph Frascahttp://www.blogger.com/profile/11870884380880445274noreply@blogger.com0