#b#Guard Our Nesteggs#/b#
Being in my late 50s and hoping to retire in a few years, I have been paying attention to the new federal Department of Labor rule that creates a higher standard for financial professionals who offer retirement advice. In a nutshell, it requires advisors to make recommendations designed to serve your best interests by keeping your costs low, recommending sound investments, and protecting your retirement nest egg from unnecessary risks.
Right now loopholes in the law allow bad actors in the financial industry to provide retirement savings “advice” based on what’s best for their pocketbook, not yours. A prime example of this are “advisers” who recommend that you roll over your 401(k) savings into an IRA where in fact the investment expenses you pay are higher than those in your 401(k).
So far legislation to stop the rule has at been thwarted, thanks to the leadership of Senator Cory Booker among others.
Many of us have worked hard to save for retirement and we deserve to be protected from a financial “adviser” who is really a salesman looking out for his or her own interests.
AARP New Jersey, Princeton
#b#Thanks from CASA#/b#
On February 20 our organization commemorated the 15th anniversary of the founding of Court Appointed Special Advocates for Children (CASA) of Mercer County Inc. All proceeds from the event, held at Greenacres Country Club in Lawrenceville, benefitted CASA. A total of $109,000 was raised, which, through trained community volunteers, represents the best interests of abused and neglected children.
We were grateful to Bernie Flynn, president and CEO of NJM Insurance Group, our honorary event chairman. Special recognition was given to long-time corporate donor, Princeton-based Diversityinc. Our audience of about 200 was all moved by the presentation of former CASA child Fabiola Quezada, a young mother who is now employed by Wells Fargo Home Mortgages.
Lead sponsors were NJM Insurance Group and Diversityinc, along with the Martin Family and Wells Fargo, followed by 1WorldSync, Bracco Diagnostics, Herspiegel Consulting, Horizon Blue, Investors Bank, Junior Achievement of New Jersey, NJBIA, Pringle Quinn Anzano, PSE&G, Sanofi-Aventis, Stark & Stark, Withum Smith & Brown, and Borden Perlman Salisbury & Kelly.
Event co-chairs were Minda Alena, president of the Junior League of Princeton and principal of Muse Interiors LLC, and Geniva Martin, former president of the Junior League of Princeton.
This past year in Mercer and Burlington counties, 211 CASA volunteers advocated for 323 children.
Director of Community Development