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Insurance & Financial Services
Area insurance agents named to Big I New York leadership posts
Insurance-producer trade organization Big I New York recently elected new leadership. Ronald M. Brunell, a Long Island insurance executive, was elected chair of the board for the 2021-22 term. Nicholas C. Masterpole, of Masterpole-Murphy Agency in Syracuse, was elected to a one-year term as vice-chair and secretary-treasurer. Big I New York members also elected and re-elected […]
Goldman Sachs CEO to chair Hamilton College board of trustees
CLINTON, N.Y. — David Solomon — chairman and CEO of investment-banking firm Goldman Sachs (NYSE: GS) — has been unanimously elected to serve as chair
Weedsport office building sold for $100,000
WEEDSPORT, N.Y. — The commercial property located at 8941 N. Seneca St. in the village of Weedsport was recently sold for $100,000. The more than 2,500-square-foot-building, located on about one-sixth of an acre, had housed Malvaso Insurance and the Yates Law Firm. The insurance agency remains in operation at other locations, while the owner of
NYS pension fund has largest- ever annual investment return
Fund returned 33.55 percent in latest fiscal year, ending March 31 ALBANY, N.Y. — The New York State Common Retirement Fund’s estimated overall investment return was 33.55 percent for the state fiscal year (SFY) that ended March 31. The figure reflects the financial markets’ “dramatic rebound” from the late March, 2020 lows reached during the
Report: U.S. 401(k) market now worth more than $6 trillion
U.S. 401 (k) plan assets grew by a trillion dollars to more than $6 trillion in the most-recent plan year, according to a May 2021 report from Judy Diamond Associates. The fifth annual 401(k) Plan Benchmark Report “examines almost 600,000 active 401(k) plans, covering more than 88 million eligible workers and $6 trillion in total retirement assets,”
VIEWPOINT: Record-high public pension-fund return won’t necessarily mean lower pension costs
The cost to taxpayers of New York’s generous (and constitutionally guaranteed) pension benefits for state and local-government employees depends largely on the performance of pension-fund investments. So when Comptroller Thomas DiNapoli announced recently that the state Common Retirement Fund had earned a record return of 33.55 percent last year — nearly five times the assumed rate —
Pathfinder Bank names Tryniski VP, credit manager
OSWEGO, N.Y. — Pathfinder Bank has promoted Nick Tryniski to VP, credit manager from credit analyst. That’s according to Ronald Tascarella, executive VP, chief banking officer, who announced the promotion on June 8. “We are happy to recognize Nick with this promotion,” Tascarella said. “With his extensive knowledge of lending, leadership skills and his commitment
Syracuse’s American Rescue Plan funding to target infrastructure, jobs, city government operations
SYRACUSE, N.Y. — Syracuse Mayor Ben Walsh on Friday outlined plans for the city’s $123 million in federal aid through the American Rescue Plan Act
2021 Wealth Management Special Report
Click to View the 2021 Wealth Management Special Report
Five Star Bank parent company to pay Q2 dividend in early July
WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent of Five Star Bank, announced that its board of directors has approved a quarterly cash dividend of 27 cents per share of its common stock for the second quarter. The dividend is the same amount that the banking company paid for the first quarter, when it
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