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Cyber Security: It’s a Nightmare Scenario

/// Posted by Cristie Hanaway

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On March 22, 2018, the city of Atlanta’s website was hit by a ransomware cyberattack. Residents couldn’t access online applications or pay water bills and parking tickets. Court proceedings were cancelled. An estimated ten years’ worth of documents, including police dash cam recordings, were lost. It was five days before city government employees could turn on their computers. The city may spend more than $10 million to fully recover.

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Cristie Hanaway, Senior Vice President of Property & Casualty at the Hilb Group of New England, part of the Sapers & Wallack organization, answers questions about our April blog, “Cyber Security: It’s a Nightmare Scenario“.

 

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What is a Roth IRA and Why Do I Need One?

/// Posted by Scott Tuxbury

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There’s a lot to like about investing in a Roth IRA, Roth 401(k) or Roth 403(b), especially if you’re young or expect to be in the same (or higher) income tax bracket when you retire. Any money you invest in a Roth grows tax-free—even when you cash out in retirement—and it can be invested in a number of ways, from stocks and bonds to mutual funds. Another plus: the 2018 Tax Cuts and Jobs Act (TCJA), makes Roth IRAs even more attractive because they can protect your investment from future tax rate increases.

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Scott Tuxbury, Vice President and Leader for the Retirement and Wealth Management Practices at Sapers & Wallack answers 3 questions about our March blog, “What is a Roth IRA and Why Do I need One?” 

 

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Reimagining Retirement Distribution Planning

/// Posted by Scott Tuxbury

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Retirement distribution planning is not what it used to be. People are living longer, cost of living expenses are on the rise, and healthcare costs are easily outpacing wage increases and the market. Now, more than ever, creating and sticking to a thorough retirement savings plan is necessary to ensure that your latter years and legacy are what you intend them to be.

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Scott Tuxbury, Vice President and Leader for the Retirement and Wealth Management Practices at Sapers & Wallack answers 3 questions about our February blog, “Reimagining Retirement Distribution Planning”

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Financial Incentive Guidelines for Wellness Programs

/// Posted by Tom Connors

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Happy New Year to all, and get those Super Bowl plans ready!

Unless you are currently offering a well-organized & exciting wellness program that encourages your employees to get out and take walks at lunch, count their steps, eat healthy, and even consider throwing that pack of cigarettes (or vapes for you youngsters) in the trash,  all those wellness programs that took a ton of our time to plan and got approved by management, that seemed progressive and many times “fun”, just got a kick in the pants!  Where do we go from here?

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Tom Connors, Managing Director of Group Benefits for the Hilb Group – part of the Sapers & Wallack organization – answers 3 questions about our January blog, “Financial Incentive Guidelines for Wellness Programs”

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Universal Life Insurance: A Rebuttal

/// Posted by Wayne Slattery

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‘Universal Life Insurance, a 1980s Sensation, Has Backfired’

“A long decline in interest rates caused premiums to soar when they were supposed to stay level.” – Wall Street Journal

As soon as I read this headline in the Wall Street Journal I was surprised by how misleading it was, and decided to write a response.  A little bit about me, I started my career in financial services with MetLife in 2004 at the age of 24.  I spent 13 years with them until they sold their whole financial division in July of 2017.  MetLife was a giant in the life insurance industry and a main player in providing the Universal life insurance product, specifically the type mentioned in the attached article.  Many evenings I would make phone calls, receive calls from policy holders, or meet with policy owners to give them the bad news:  Your policy is “blowing up”. This was a term we used when someone had a policy where there was no more cash and the premium was skyrocketing.  Many, as you can imagine, were not thrilled to see or hear from me in this instance.    We will discuss later how I was able to help most people continue their coverage, but first I’d like to discuss some basics of the policy itself.

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November is Long-Term Care Awareness Month

/// Posted by Aviva Sapers

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Long-term illnesses are very challenging emotionally, physically, and especially financially.  I should know, as I have lived through 3 grandparents, 2 in-laws, and one mother who all needed or still need care.  It is difficult to watch those you love lose the ability to do for themselves, and to experience the toll it takes on family and friends who are thrust into the role of caregiver. 

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