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VIEWPOINT: DOL Issues New Cybersecurity Guidance for Plan Sponsors, Others
On April 14. 2021, the U.S. Department of Labor (DOL) issued much-needed guidance concerning best practices for plan sponsors, fiduciaries, record-keepers, participants and beneficiaries pertaining to cybersecurity for retirement plans. The DOL’s guidance focuses on three specific topics: hiring service providers, managing cybersecurity risks, and online-security tips for participants to avoid risk of fraud and loss. Although […]
VIEWPOINT: Preparing for Ransomware
A look at recent news headlines continues to show the impact that ransomware has on our everyday life. Whether it be the attack on Colonial Pipeline which set off a potential gas-supply shortage or the attack on JBS, a meat packer, the news keeps coming. Last year in the U.S. alone, more than 100 federal, state, and local
CEO FOCUS: Downtown Syracuse Continues to Thrive Following a Year of Uncertainty
Downtown Syracuse is at the heart of the Central New York community and is the vibrant center of a region on the rise. While the past year created significant economic hardships or delayed growth for so many small businesses, it is truly exciting to see so many people returning to explore, eat, shop, and work downtown.
NONPROFIT MANAGEMENT: Red flags for our health-care delivery system
“Health-care costs are an issue both for the government and for our larger economy.” —Sylvia Mathews Burwell I’m officially raising red flags of significant concern for the future of the New York state and United States health-care delivery system. Fact #1: The U.S. is rapidly approaching 20 percent of our gross domestic
CEO FOCUS: Region to Benefit from U.S. Innovation and Competition Act
The U.S. Senate [recently] approved the U.S. Innovation and Competition Act (USICA). The more than $250 billion measure would increase research and development in critical new technologies, create new innovation hubs in midsized markets, such as the Syracuse metro area, incentivize domestic semiconductor production, and enhance America’s tech competitiveness with China. Sponsored by Senate Majority Leader Chuck
VIEWPOINT: How to Grow Your Revenue With Diversified Investments
There’s a famous line from the 1967 hit movie “The Graduate.” Mr. Maguire says to Benjamin Braddock, played by Dustin Hoffman, “There’s a great future in plastics. Think about it. Will you think about it?” Maybe it’s time to replace “plastics” with “diversified growth.” Diversification is the growth driver today I don’t agree with people who express “grow
VIEWPOINT: Want or Need to Retire Early? Tips on How to Pay For It
Delaying retirement has become common for many Americans, either because they saved too little, or they just want to continue working because they enjoy it. Others go in the opposite direction. They retire early — sometimes out of choice but often because their health or the economy forces it. While early retirement might sound appealing, it can
VIEWPOINT: IRS Issues Guidance on Implementing ARPA COBRA Subsidy
On May 18, 2021, the Internal Revenue Service (IRS) issued notice 2021-31 (Notice) which provides additional guidance and clarifications concerning the new COBRA premium assistance provisions enacted under the American Rescue Plan Act of 2021 (ARPA). Under ARPA, employers are required to provide temporary 100-percent COBRA premium subsidies for certain eligible individuals who elect continuation coverage that
VIEWPOINT: Governor Signs Law Waiving Evaluation Requirements for 2020-21 School Year
On June 7, 2021, Gov. Andrew Cuomo signed into law a bill that amends the tenure process for probationary teachers and principals to account for changes necessary to the normal procedure due to the COVID-19 pandemic regarding annual professional performance reviews (APPRs) for the 2020-21 school year. This bill would allow teachers and principals who were appointed
VIEWPOINT: Dear Rusty: When Is the Best Time to Claim Social Security?
Dear Rusty: I am now turning 64, and I’d like to know the best time to claim Social Security. Signed: Anxious to Retire Dear Anxious: First, please understand that there is no one “best time” to claim your Social Security benefit, because when you should claim depends upon several factors. These include your current health,
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