Expect no privacy of your personal data in your 401(k), as Wall Street continues to rip off 401(k) participants through the charade of “Service Provider”, while acting as Product Peddler to fatten their profits. Many employees are confident that their health records are kept private, because the Health Insurance Portability and Accountability Act (HIPAA) ensures that strict rules are followed by all those who handle these records.
Willy Loman never did understand that there was more to success than being liked.
A couple of years ago I was asked to give a talk on networking. I asked the organizer, why me? I believe networking as taught by many business gurus and commonly practiced in today’s marketplace is little more than professional panhandling. She snapped back, that’s exactly why we want you to give the talk.
I was talking to Tony DiBarnaba the other day about the company he founded 20 years ago. Benefit Resource employs 100 in a new, 30,000-square-foot corporate headquarters in Henrietta. Benefit Resource pioneered, and is a leading provider of, company-sponsored tax advantage commuter and health plans using debit cards. In addition to the corporate headquarters, it has offices in New York, Boston, Chicago and San Francisco. DiBarnaba told me that more than 75 percent of his of his business, and most of its growth, is from outside of Rochester.
In 2008 the Governmental Accounting Standards Pronouncement number 45 (“GASB 45”) went into effect. Since then we’ve seen some changes in actuarial practice, but no significant changes to the accounting guideline itself. But with 2017 that changes, as GASB 45 is being eliminated and replaced with a new standard, GASB 75.