Survey Shows Majority of Participants Lost on Retirement Planning, Seek Direction from Employers

SSgA’s DC Investor Retirement Survey Results Urge Employers to Use Proactive Strategies to Help Plan Participants Save Aggressively for Retirement and Understand Investment Risks

BOSTON--(BUSINESS WIRE)-- A survey released today by State Street Global Advisors (SSgA), the asset management business of State Street Corporation (NYSE: STT), suggests that employees around the country are in need of direct, simple guidance to help them reach their retirement goals. The SSgA Defined Contribution (DC) Investor survey was created to reveal employees’ investing behaviors and interactions with their retirement plans. Conducted jointly with the Boston Research Group, the survey included over 1,000 401(k), 403(b), profit sharing and stock purchase plan participants.1

The findings from the survey emphasize four areas of focus for employers and their participants: attitudes toward saving for retirement, awareness of automatic features in DC plans, awareness of long-term investment risks and nuances among age groups that impact likeliness to save.

“Plan participants communicated loud and clear about what they need: simple steps and automated features,” said Kristi Mitchem, senior managing director and head of Global Defined Contribution for SSgA. “One of the most surprising and encouraging findings is the willingness of participants to take 401(k) direction from their employers. The ongoing volatility in the financial markets has increased anxiety amongst plan participants and a significant percentage want simplified and prescriptive guidance in order to make progress toward their retirement goals.”

Attitudes towards saving are changing, with 75 percent of survey respondents indicating they would be willing to be automatically enrolled in a 10 percent savings “boot camp” for six months. The survey concluded that 54 percent of participants say they are “very” or “somewhat confident” that their savings are on track to fund their planned retirement lifestyle. Other participants have a much less optimistic outlook. Most place the blame on themselves, with 55 percent indicating they lack confidence because their rate of savings is not high enough and 52 percent indicating they did not start saving early enough. Others blame the economy or the financial markets, and only a few blame their employer.

“For the first time, DC assets will outnumber traditional defined benefit assets globally in 20122, with DC assets increasing to 52 percent of all retirement assets,” continued Mitchem. “This statistic underscores the importance of improving interactions between DC plan sponsors and plan participants by better understanding the needs and savings behaviors of DC investors. Plan participants typically do not take action for two reasons: lack of knowledge or lack of time. As we design plans and engage employees, the more we know about them, the bolder we can be with solutions that will help them achieve retirement security. We have embedded the survey results into a bi-annual magazine called ‘The Participant’ to communicate these insights. The magazine is designed to help plan sponsors deliver solutions that combat barriers to retirement readiness and make a difference by understanding employee needs and providing simple steps and tools that plan participants can use to increase savings and address investment risks, like inflation and company stock.”

Automatic features offered by employers to encourage participants to save, such as auto-enrollment and auto-escalation, are preferable but not well understood, with 74 percent of respondents indicating that “making me automatically do something like save more or invest in a professionally managed fund” would improve their retirement readiness. Awareness of long-term investment risks is limited, such as the risk associated with inflation and ownership of company stock. Forty-three percent of respondents that are aware of the US inflation rate have considered its effects on their retirement, but do not know what to do about it. Sixty-eight percent responded favorably to a plan solution that not only limits the risk of a significant loss in their company stock holdings, but also puts a small limit on the upside.

The impact of the financial crisis and the generational differences in attitudes also impact retirement strategies. Seventy-three percent of the youngest workers, ages 18-24, said the recent volatility prompted them to save more, versus 37 percent of the general population. Younger savers are more conservative and more likely to save than their older counterparts.

“The market volatility has created a new generation of savers,” Mitchem said. “Younger workers are saving more and spending less than their parents, while 66 percent of those over 50 years of age admit to not saving at an early enough age.”

For more information, or to subscribe to “The Participant” magazine, visit: www.ssga.com/dc/theparticipant.

About State Street Global Advisors

State Street Global Advisors (SSgA) is a global leader in asset management. The firm is relied upon by sophisticated investors worldwide for its disciplined investment process, powerful global investment platform and access to every major asset class, capitalization range and style. SSgA is the asset management business of State Street, one of the world's leading providers of financial services to institutional investors.

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $21.8 trillion in assets under custody and administration and $1.9 trillion* in assets under management at December 31, 2011, State Street operates in 29 countries and more than 100 geographic markets. For more information, visit State Street’s web site at www.statestreet.com.

*This AUM includes the assets of the SPDR Gold Trust (approx. $63 billion as of December 31, 2011), for which State Street Global Markets, LLC, an affiliate of State Street Global Advisors serves as the marketing agent.

1 Thesample of 1,076 observations has a maximum sampling error of +/-3 percentage points at a 95 percent confidence level.

2 Source: McKinsey Retirement Practice, estimated figures.

The views expressed in this material are the views of SSgA through the period ended January 25, 2012 and are subject to change based on market and other conditions. This document contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected.

CORP-0438

State Street CorporationAlicia Curran Sweeney, +1 617-664-3001
www.statestreet.com

Source: State Street Corporation

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Unicare Life And Health Insurance Fined $100,000

By Carol M. Ostrom, The Seattle TimesMcClatchy-Tribune Information Services

Jan. 26--The state's Insurance Commissioner has fined an Indiana-based medical insurance company $100,000 for charging international students at local colleges premium rates that weren't approved by state regulators, using insurance agents who weren't licensed and wrongly excluding certain medical care.

The fine levied against Unicare Life and Health Insurance Co. covers policies to many international students at the University of Washington, Washington State University and Seattle Pacific University, as well as Bellevue, Shoreline, Tacoma and South Puget Sound community colleges, among others.

The state insurance office said the company, which was fined for premium rates on policies issued from mid-2004 to mid-2009, continued to use a policy exclusion that allowed them to deny coverage solely because an injury was sustained while the patient was intoxicated, despite a state law banning that exclusion in 2004.

The problems were discovered when state regulators conducted a "market-conduct study," which typically pulls in three to five years' worth of documentation and inspects a selection of randomly selected claims and documents.

The company said it couldn't provide supporting documentation for rates because the employees who had prepared the information no longer worked for the company.

While the state normally pushes for refunds of charges, the insurer maintained that the students actually paid less for policies with unapproved rates than they would otherwise have paid, the insurance commissioner's office said.

Carol M. Ostrom: 206-464-2249 or costrom@seattletimes.com. On Twitter @costrom. ___ (c)2012 The Seattle Times Visit The Seattle Times at www.seattletimes.com Distributed by MCT Information Services

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Research and Markets: US: Healthcare Reform, Intellectual Property and Regulatory Update

DUBLIN--(BUSINESS WIRE)-- Research and Markets(http://www.researchandmarkets.com/research/c6b929/us_healthcare_ref) has announced the addition of the "US: Healthcare Reform, Intellectual Property and Regulatory Update" report to their offering.

The US FDA continues to work towards improving its reputation, through addressing unmet public health needs, improving supply chain security, as well as providing greater transparency to the public and pharma in order to reduce regulatory uncertainty. However, plans to tighten compliance activities could be regarded as a potentially new burden to pharma in terms of time and cost.

Highlights In a positive development for branded pharma, the patent reform bill was passed in September 2011 in a move designed to help curb the rising level of patent litigation and help clear a backlog of patent applications. However, small pharma and generics companies are concerned about it could ultimately delay access to generic medicines.The constitutionality of the healthcare reform law hangs in the balance, the debate on biologic exclusivity periods has yet to reach an outcome, and pharma is concerned about the substantial savings that are expected to be made to the Medicare and Medicaid insurance systems.Proposals to increase the powers of the Independent Payment Advisory Board could spell further concern for the pharma industry.

Key Topics Covered: Executive SummaryIntroductionHealthcare Reform UpdateRegulatory Issues UpdateIntellectual Property UpdateBibliography

For more information visit http://www.researchandmarkets.com/research/c6b929/us_healthcare_ref

Research and MarketsLaura Wood, Senior Manager
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Source: Research and Markets

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American General Launches Simplified Web-Based Life Application

American General Life Companies (American General) announces the availability of "AG Quick Ticket," a web-based life insurance application that allows producers to complete and submit applications electronically via a computer or tablet and ensures fast turnaround times for the interview, exam and submission of the full application to American General.

American General partnered with Ebix, Inc. and ExamOne to develop AG Quick Ticket. Producers can access and complete the online application through single-sign on to www.agquickticket.com or through American General's eStation producer business resource center website which provides access to a wealth of product and client information. Once a producer submits an online ticket application using AG Quick Ticket, ExamOne will follow-up with the client to conduct the interview, complete health information and schedule the required paramedical exams.

"We have always invested in technology that allows our valued distribution partners to spend less time on administrative issues and more time serving their clients and growing their business," said Mary Jane Fortin, president and chief executive officer of American General. "In a single click, producers can access AG Quick Ticket and reap the benefits of reduced paperwork, quicker policy issuance, quicker receipt of commissions and more time in their very busy schedules."

Producers can check an application's status at all stages, 24-hours a day, via eStation or ExamOne's website.

A number of life insurance products are currently offered through AG Quick Ticket, including AG Secure Lifetime GUL®, AG Select-a-Term®, and AG ROP Select-a-Term®.

For more information about American General's new AG Quick Ticket, call the company's National Sales Desk at (800) 677-3311.

Policies issued by:American General Life Insurance Company (AGL)2727-A Allen Parkway, Houston, Texas 77019AG Secure Lifetime GUL Policy Form Number 10460, ICC-10460; AG Select-a-Term Policy Form Number 07007, ICC-07007; AG ROP Select-a-Term Policy Form Number 10001. The United States Life Insurance Company in the City of New York (USL)One World Financial Center, 200 Liberty Street, New York, NY 10281AG Secure Lifetime GUL Policy Form Number 10460N; AG Select-a-Term Policy Form Number 09007N; AG ROP Select-a-Term Policy Form Number 10001N.

The underwriting risks, financial and contractual obligations and support functions associated with the products issued by AGL or USL are the issuing insurer's responsibility. AGL does not solicit business in the state of New York. USL is authorized to conduct insurance business in New York. Guarantees are subject to the claims-paying ability of the issuing insurance company. Policies and riders not available in all states.

American General Life Companies, www.americangeneral.com, is the marketing name for a group of affiliated domestic life insurers including AGL and USL. American General Life Companies insurers offer a broad spectrum of life insurance, fixed annuities, accident & health products and worksite benefits to serve the financial and estate planning needs of its customers throughout the United States. (c) 2012 Investment Weekly News via VerticalNews.com

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Texas Insurance Agent Charged With Fraud

By Ildefonso Ortiz, The Monitor, McAllen, TexasMcClatchy-Tribune Information Services

Jan. 27--MCALLEN -- A local insurance agent was arrested in connection with various counts of mail fraud and identity theft.

Edinburg resident San Juana Lopez was arrested Thursday morning and was taken before U.S. Magistrate Judge Dorina Ramos, according to information released by the U.S. Attorney's Office.

She was charged with five counts of mail fraud and three counts of aggravated identity theft.

Court records show that from 2007 to 2008, Lopez sold Medicare Advantage plans for a Care Improvement Plus, a San Antonio-based insurance company. Lopez allegedly illegally obtained identifying information and enrolled various clients without their knowledge or their consent.

Lopez then sold life insurance policies for United Funeral Directors Benefit Life Insurance Company for preplanned funerals, but she is also accused of enrolling clients without their knowledge or consent. Furthermore, Lopez is accused of using bank information from the victims to make premium payments on the policies, thus receiving thousands of dollars on commissions.

If convicted, Lopez could face a maximum of 20 years in federal prison without parole and a $250,000 fine for each count.

--

Ildefonso Ortiz covers law enforcement and general assignments for The Monitor. He can be reached at iortiz@themonitor.com and (956) 683-4437.

--

TWITTER

Follow Ildefonso Ortiz on Twitter: @ildefonsoortiz ___ (c)2012 The Monitor (McAllen, Texas) Visit The Monitor (McAllen, Texas) at www.themonitor.com Distributed by MCT Information Services

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Don't Leave Insurance To Finance Department

Don't leave insurance to finance department

Risk managers should have an active role in purchasing and managing insurance, says R. Stephen Trosty, JD, MHA, CPHRM, president of Risk Management Consulting in Haslett, MI, and a former insurance company executive.

"It should not be just the financial individuals in the healthcare organization who are involved with insurance," Trosty says. "Risk managers have a greater knowledge of the claims, the risks, the medical errors that are occurring. There should be an active involvement in insurance issues."

Much of the interaction with the insurer should involve the risk manager, possibly with financial professionals also, he says. "If the hospital's interactions with the insurer are left entirely to the financial people, then the risk management program is not as comprehensive as it should be," Trosty says. "As you look to moving more toward enterprise risk management, that becomes even more true. One cannot have enterprise risk management without having involvement with the insurance component."

Inaccurate claims loading often is the result of the risk manager not being involved enough in the procurement and management of insurance contracts, Trosty says. Risk managers can focus so intently on preventing and responding to medical errors, for example, that they are content to leave the intricacies of insurance to their financial colleagues.

"There is far too little understanding among risk managers of these insurance questions and the role they can play," Trosty says. "A risk manager who wants to build his or her worth in the organization has a lot of opportunity if they get involved in these issues."

SOURCE-Healthcare Risk Management (c) 2012 AHC Media LLC. All Rights Reserved.

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Obamacare Contraceptive Rule Violates Freedom Of Conscience

Chattanooga Times Free Press, Tenn.

Jan. 25--Freedom of conscience and freedom of religion are under assault from the ObamaCare medical reform law passed by Democrats in 2010.

The Obama administration has announced it will force many religious-affiliated organizations that object to contraceptives not only to provide contraceptives to employees on their health insurance plans but to offer them free of charge. The Catholic Church had pleaded with the administration to allow the church to uphold its teachings against contraception and not to have to provide services that clearly violate those teachings.

The issue should not be whether you agree with any church's views on contraception, but whether the federal government should have the power to require a religious organization to undermine its own doctrines. The affected organizations have until Aug. 1, 2013, to obey the requirement and start providing free contraceptives to employees.

"In effect, the president is saying we have a year to figure out how to violate our consciences," Archbishop Timothy Dolan of New York, head of the U.S. Conference of Catholic Bishops, told The New York Times. "We're unable to live with this."

The new federal rule technically carves out an exemption for some religious employers. But the exemption is extremely narrow, because an organization cannot avoid the rule if it employs or serves a lot of people who do not share the organization's faith. Of course, many church-affiliated organizations have the express desire to reach out to as many people of other faiths as possible, so they will be forced to surrender their First Amendment guarantee of freedom of religion unless they reduce their outreach, whether it be through a hospital, charity or social service agency.

Considering ObamaCare's high costs and the way it is undercutting fundamental religious liberty, it is not the least bit surprising that a majority of states have filed a lawsuit to have it overturned. We urgently hope they succeed. ___ (c)2012 the Chattanooga Times/Free Press (Chattanooga, Tenn.) Visit the Chattanooga Times/Free Press (Chattanooga, Tenn.) at www.timesfreepress.com Distributed by MCT Information Services McClatchy-Tribune Information Services

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Principal International Chairman Norman Sorensen to Retire

The Principal Financial Group® announced that Norman R. Sorensen, chairman of Principal International, will retire at the end of February 2012 as part of a planned succession after serving nearly 14 years with the company.

"Norman has had a remarkable impact on The Principal," said Larry D. Zimpleman, chairman, president and CEO of The Principal®. "He led The Principal's efforts to focus our international businesses, which has allowed us to grow from break-even to more than 15 percent of company operating earnings1. Even more importantly, our international businesses are positioned to continue this growth for many years to come due to Norman's leadership. I look forward to Norman's contributions as a senior advisor to me in 2012."

Sorensen will continue to chair The Principal's International Advisory Council for the remainder of the year. "Our International Advisory Council is an important source of input on global business developments to our management team and to our Board," Zimpleman said. "Norman also will assist me with key initiatives and important relationships throughout 2012."

Prior to joining The Principal, Sorensen was a senior executive at American International Group, American Express Company and Citigroup. He will continue to serve as chairman of the International Insurance Society, board member for the Encore Capital Group, and a director of Sara Lee Corporation.

In March 2011, Luis Valdes was named president and CEO of Principal International and will continue to lead Principal International. "As the successful head of our Latin American operations for the past decade, I am excited to see additional global growth under Luis' leadership," Zimpleman said.

For more news and insights from The Principal, connect with us on Twitter at http://twitter.com/ThePrincipal. About the Principal Financial Group The Principal Financial Group® (The Principal ®)2 is a global investment management leader including retirement services, insurance solutions and asset management. The Principal offers businesses, individuals and institutional clients a wide range of financial products and services, including retirement, asset management and insurance through its diverse family of financial services companies. Founded in 1879 and a member of the FORTUNE 500®, the Principal Financial Group has $320.8 billion in assets under management3 and serves some 17.8 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com. 1 Principal International operating earnings were more than 15% of total Principal Financial Group operating earnings as of Sept. 30, 2011. 2 "The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group. 3 As of Sept. 30, 2011.

(c) 2012 China Weekly News via VerticalNews.com

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Kan. Gov. Has No Plans To Slow Medicaid Overhaul

By JOHN HANNA, Associated Press

TOPEKA, Kan. -- Republican Gov. Sam Brownback won't delay an overhaul of Medicaid in Kansas, officials said Thursday, despite bipartisan concern among legislators that his administration is moving too quickly to turn the entire program over to private health insurance companies.

Brownback expects the state to issue contracts this year to three companies to manage the $2.9 billion program, which provides health coverage to poor families and disabled and elderly Kansans.

The contracts would take effect Jan. 1, 2013. Each company must provide coverage statewide, so that participants can choose among plans. The administration also is promising that the contracts will contain financial incentives for the contractors to improve services while controlling costs.

State medical programs provide services for an average of 380,000 people a month, and the bulk already receive state health coverage through private contractors. But Brownback's overhaul represents the state's first attempt to bring services for the disabled and the elderly, including nursing home residents, into a managed-care system.

Some legislators think Brownback's administration is rushing the changes, but Lt. Gov. Jeff Colyer said when the new contracts take effect next year, nearly two years will have passed since the administration began discussions about overhauling Medicaid. Colyer said the changes will not only to control costs but better coordinate care and improve individuals' health.

Asked about delaying the overhaul, Colyer told The Associated Press, "Why would we?"

"We don't want to hurt Kansas patients," said Colyer, a surgeon and former state senator who led the team that developed the overhaul plan. "We want to make sure that they start getting the benefits now, and we're talking about tens of millions of dollars."

Companies seeking one of the Medicaid contracts have until Tuesday to submit the technical details of their proposals to the state, then until Feb. 22 to submit the rest. Up to 15 companies can bid, including Aetna Inc., United Healthcare, WellPoint Inc. and Blue Cross and Blue Shield of Kansas, the state's largest health insurer.

"The bottom line is no _ no, the administration is not considering delaying it," said Brownback spokeswoman Sherriene Jones-Sontag.

Legislators have acknowledged that their role in the overhaul will be limited because most changes will be handled through the contracts, though they must agree to a reorganization of the state's health and social services agencies, and they can weigh in on budget issues.

The House Health and Human Services Committee planned to hear a presentation Thursday afternoon from Health and Environment Secretary Robert Moser, a physician who also was on the Medicaid overhaul team. The Senate Public Health and Welfare Committee heard testimony earlier this week.

Sen. Dick Kelsey, a Goddard Republican, said Brownback should delay the start of the Medicaid contracts for six months, until July 1, 2013, and remove services for the developmentally disabled from the contracts. Some Democrats also have said the administration should slow down.

"I don't believe that changes this massive can be made in this time frame successfully," Kelsey said. "It will be a tremendously chaotic thing."

Rep. Jerry Henry, of Cummings, the top Democrat on the House Social Services Budget Committee, said he's most concerned about how the overhaul will affect services in rural areas, where providers are fewer. He said the administration could do better by imposing changes in urban areas first then expanding into rural areas.

Advocates for the developmentally disabled also have voiced concerns about how the changes will affect services and clients' existing relationships with community service groups.

Tom Laing, executive director of InterHab, a group representing service providers, said managed-care providers focus on administering services to lessen future medical problems and costs. But, Laing said, while developmentally disabled Kansas could benefit from such an approach for medical or mental health services, they also depend upon in-home services designed to promote their independence.

Brownback's administration has promised that new contracts will require companies to work through existing service providers. Also, Colyer said, Kansans with long-term needs will benefit the most from having better-coordinated services.

If the state delays the overhaul, Colyer said, "It will cost us millions of dollars, and it's a worse health outcome."

Senate health committee Chairwoman Vicki Schmidt, a Topeka Republican, doubts legislators can force Brownback's administration to alter its schedule for overhauling Medicaid. Instead, she said, she wants to create an oversight committee to monitor the effort.

Other legislators acknowledged that they're relying on public pressure to persuade the administration to slow the overhaul.

"If you move too quickly on this, it's bound to fail," said Sen. Laura Kelly, of Topeka, the ranking Democrat on the budget-writing Senate Ways and Means Committee.

___

Online:

Kansas governor: https://governor.ks.gov/

Kansas Legislature: http://www.kslegislature.org (c) 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Aon Hewitt: Employers Doubtful About Workers Ability to Prepare for Retirement

LINCOLNSHIRE, Ill., Jan. 25, 2012 /PRNewswire/ -- As the economy continues to falter, employers have become increasinglyreticent about their employees' ability to successfully save for retirement, according to a new survey by Aon Hewitt, the global human resources consulting and outsourcing business of Aon Corporation (NYSE: AON). In response, employers are embracing innovative solutions to help rethink their retirement benefits plan strategies and assist their employees in better preparing for retirement.

(Logo: http://photos.prnewswire.com/prnh/20100719/AQ37264LOGO)

Aon Hewitt surveyed more than 500 large U.S. employers, representing over 12 million employees, to determine their current and future retirement benefits strategy. According to the findings, just 4 percent of employers are very confident that their workers will retire with adequate retirement assets, down substantially from 30 percent in 2011. Additionally, only 10 percent of plan sponsors feel very confident that their employees are taking accountability for their own retirement success. Fewer than one-in-five employers (18 percent) are confident that workers will be able to manage their income during retirement.

"The stark drop in the confidence of employers is troubling," said Pamela Hess, director of Retirement Research at Aon Hewitt. "We've known for a while that workers weren't saving enough for retirement, but it seems that with continued tough economic times, employers are realizing just how dire the situation has become for much of their workforce. Fortunately, they're not sitting idly by—they're actively taking steps to help their employees get on a better path."

While more than half (52 percent) of employers will focus on encouraging workers to take greater accountability for their retirement savings in the year ahead, they aren't asking employees to do it all on their own. Almost half (44 percent) of employers will focus on helping workers retire with enough money and most (60 percent) say that they will place a greater emphasis on helping employees understand and use the employer-provided resources available to them.

Employers also continue to enhance their defined contribution (DC) plan features. As in years past, plans will continue to add automatic features, in addition to expanding savings choices and offering employees more resources to help them meet their needs while in retirement.

Automatic enrollment has been one of the biggest retirement trends in recent years, and will continue to be in the year ahead, albeit with an enhanced focus on outcomes. Currently, 55 percent of plan sponsors automatically enroll workers in their employer-provided defined contribution plan, up from 24 percent in 2006. Looking ahead, more than a third (34 percent) of plans are likely to add this feature for new hires in 2012. While automatic enrollment can be beneficial to increase participation, it is just one step in fixing savings challenges. In fact, Aon Hewitt found that of workers who are subject to automatic enrollment, most (63 percent) aren't saving enough to get the full employer match. In response, nearly one quarter (24 percent) of employers plan to make changes to their automatic feature in 2012. Of those making changes, 26 percent will apply automatic enrollment to existing non-participants, 26 percent will add an automatic contribution escalation feature, and 24 percent will increase the initial default rate.

"Automatic enrollment alone isn't enough to get workers where they need to be," explained Hess. "Plan sponsors need to step it up by encouraging employees to save at a higher rate. Adding features such as contribution escalation to get workers saving at least at the employer match level—or ideally even more—is key to helping them meet their savings goals."

To further help workers meet their retirement savings goals, while also helping them to become more accountable, plan sponsors are increasingly adding investment advisory solutions and features. Currently, most employers (79 percent) now offer target-date portfolios. More than half (59 percent) offer online investment guidance, while nearly four in ten now offer online investment advice or managed accounts (39 percent and 38 percent, respectively). For those plans that do not already offer it, 26 percent plan to offer online advice and 24 percent will likely add managed accounts in the year ahead.

"Our research shows that when defined contribution investors use employer-provided professional investment advice, they greatly outperform those who invest on their own," stressed Hess. "Offering a variety of help services to workers better positions them to make smarter savings decisions that keep them moving in the right direction—towards a sound retirement."

As employers have moved away from offering defined benefit (DB) plans in favor of DC plans, workers are now left with an annuity gap once filled by DB plans. As a result, more plan sponsors are introducing retirement income solutions either outside, within, or alongside the plan. Currently, 16 percent of employers offer an "in plan" income solution—including either an insurance product, managed account with a drawdown feature, or a managed payout fund—while 9 percent offer an out of plan option. Looking ahead, 22 percent plan to adopt one of these solutions in 2012. Further, 42 percent of employers allow employees to elect an automatic payment option from the plan over an extended period of time. Nearly one quarter (24 percent) are likely to add this option in 2012.

Beyond offering retirement income solutions, employers are increasingly trying to help workers understand how much they can spend each year during retirement. Nearly three quarters (71 percent) of plans provide online modeling tools for this purpose and 64 percent are likely to add these tools in the year ahead.

"Once, workers could count on a steady income stream throughout their retirement years," said Hess. "Now, more people are relying exclusively on their DC plan for their retirement savings and that regular "paycheck" has disappeared, leaving many employees struggling to effectively balance retirement expenses. Employers recognize this challenge and are adding features and resources to help workers manage their savings."

Other Key Retirement Findings 39 percent of plans offer a Roth savings option, up slightly from 34 percent in 2011. Recognizing the strong benefits of Roth as well as the increased use that many plans have seen in recent years, 29 percent of plan sponsors are likely to add this option in 2012.Less than one quarter (23 percent) of defined benefit plans (DB) provide benefits accruals to new employees, down from 27percent in 2010.14 percent of DB plans are likely to freeze accruals and 18 percent plan to close the plan to new hires.86 percent of DB plans were underfunded as of January 1, 2011.61 percent of employers provide some type of post-retirement medical coverage to current or future retirees. However, most of these plans (40 percent) are closed to new/future hires.To help manage costs, 78 percent of employers that currently offer retiree health benefits are likely to increase premiums in the year ahead. More than half (53 percent) plan to increase cost-sharing in the year ahead.

Visit aon.com/hottopics to learn more about Aon Hewitt's Hot Topics in Retirement survey.

About Aon Hewitt

Aon Hewitt is the global leader in human resource consulting and outsourcing solutions. The company partners with organizations to solve their most complex benefits, talent and related financial challenges, and improve business performance. Aon Hewitt designs, implements, communicates and administers a wide range of human capital, retirement, investment management, health care, compensation and talent management strategies. With more than 29,000 professionals in 90 countries, Aon Hewitt makes the world a better place to work for clients and their employees. For more information on Aon Hewitt, please visit www.aonhewitt.com.

About Aon

Aon Corporation (NYSE:AON) is the leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 61,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative and effective risk and people solutions and through industry-leading global resources and technical expertise. Aon has been named repeatedly as the world's best broker, best insurance intermediary, reinsurance intermediary, captives manager and best employee benefits consulting firm by multiple industry sources. Visit http://www.aon.com for more information on Aon and http://www.aon.com/manchesterunited to learn about Aon's global partnership and shirt sponsorship with Manchester United.

SOURCE Aon Hewitt

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N.Y. Fed Sells Off $7B in Former AIG Assets

The Federal Reserve Bank of New York said it has sold $7.01 billion in face amount of assets from Maiden Lane II LLC, one of the limited liability companies that it created to take on the troubled assets of American International Group in 2008.

Credit Suisse Securities (USA) LLC won the $7.014 billion in assets through a competitive bidding process. The New York Fed had directed BlackRock Solutions, the investment manager for Maiden Lane II, to conduct the competitive sale after Goldman Sachs & Co. made an unsolicited offer in January to buy a portion of the assets.

The four broker-dealers involved in the competitive process were: Barclays Capital Inc., Credit Suisse, Goldman Sachs and Merrill Lynch, Pierce, Fenner & Smith Inc. The New York Fed selected the broker-dealers based on their previous expressions of interest for large parcels of the portfolio.

In 2011, the New York Fed began to sell off some of the assets of Maiden Lane II, which are mostly residential mortgage-backed securities, but halted the sale in the summer citing poor market conditions (Best's News Service, July 1, 2011).

Last year, AIG had offered $15.7 billion to buy back the assets, but the Fed rejected the idea on March 30, 2011, and opted to sell them at auction instead. At that time, the Fed said it believed conditions were right for more extensive asset sales in light of improved conditions in the secondary market for RMBS, and a high level of interest by investors. The assets were being auctioned off in small blocks, and on April 11, 2011, the FRBNY listed $1.2 billion in current face amounts of RMBS assets up for auction in the open market (Best's News Service, April 11, 2011).

The New York Fed, through BlackRock Solutions, will continue to sell the remaining securities in the Maiden Lane II portfolio individually and in segments over time as market conditions warrant through a competitive sales process, while taking appropriate care to avoid market disruption, the Fed said. There will be no fixed timeframe for the sales, and the Fed said it will only sell the assets if it views the bid as a good value for the public.

When Maiden Lane II was created, the New York Fed's goal was to take the troubled assets from AIG's balance sheet and loan the company cash to conduct business. In addition to Maiden Lane II, the New York Fed created Maiden Lane III, which holds credit default swaps, as part of the $182 billion federal bailout of AIG.

Most of AIG's insurance subsidiaries currently have Best's Financial Strength Ratings of A (Excellent).

Early afternoon on Jan. 26, AIG's stock was trading at $25.21 a share, down 0.4% from the previous close.

(By Meg Green, senior associate editor, BestWeek: Meg.Green@ambest.com) (c) 2012 A.M. Best Company, Inc.

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House GOP To Draft Bill Replacing Obama Health Law

RICARDO ALONSO-ZALDIVAR, Associated Press

WASHINGTON -- House Republican leaders are drafting a bill to replace President Barack Obama's health care overhaul if the Supreme Court strikes it down this summer.

Pennsylvania Rep. Joe Pitts, chairman of a health care panel, says the GOP leadership wants to seize the opportunity if Obama's signature legislation is ruled unconstitutional.

The Republican bill would include malpractice reform, high-risk insurance pools for people with pre-existing conditions, tax breaks for individuals and small businesses, and would allow people to buy cheaper coverage from insurers in another state.

The House voted to repeal the health care law last year, but the Democratic-led Senate refused and replacement legislation languished.

Pitts told reporters Wednesday his personal opinion is that some parts of Obama's law will survive. (c) 2012 The Associated Press. All rights reserved.

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Pa. Dentist Arrested on Theft and Insurance Fraud Charges

HARRISBURG, Pa., Jan. 26 -- The Pennsylvania Attorney General issued the following news release:

Attorney General Linda Kelly today announced criminal charges have been filed against a Centre County dentist accused of submitting more than $52,000 in false insurance claims following a joint investigation with the Federal Bureau of Investigations (FBI) State College office.

Kelly identified the defendant as Dr. Jamshid Assadinia, 53, of 1764 Cambridge Drive, State College, Centre County. Dr. Assadinia owns and operates Jamshid Assadinia DDS, 300 South Allen St., State College.

Kelly said Assadinia allegedly submitted insurance claims for dental procedures that he never performed and then billed the insurance companies more than $52,000 under the names of several different patients.

The charges state that from June 5, 2006 through Feb. 16, 2011, Dr. Assadinia submitted the insurance claims to six different insurance companies - Delta Dental, United Concordia, MetLife, Guardian, Cigna and GEHA Connection Dental Federal (GEHA) - for approximately 100 procedures that were not performed.

According to the criminal complaint, Dr. Assadinia billed the insurance companies for procedures such as root canals, crowns, dentures and extractions. Agents estimate that the insurance companies reimbursed Dr. Assadinia more than $33,000 for these procedures.

Dr. Assadinia is charged with one count insurance fraud and one count theft by deception, both third-degree felonies punishable by up to seven years in prison and a $15,000 fine. He was preliminarily arraigned before State College Magisterial District Judge Carmine Prestia Jr. and released on his own recognizance. A preliminary hearing is scheduled for February 1, 2012.

Kelly thanked the FBI State College office for their work as part of the joint investigation.

The case will be prosecuted in Centre County by Senior Deputy Attorney General Dennis A. Kistler of the Attorney General?s Insurance Fraud Section.

TNS C-Santpan-Santpan 120127-3754804 71Santosh Copyright:

(c) 2012 Targeted News Service

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More Physician Hires Means More Tail Insurance

More MD hires means more tail insurance

Hospitals are bringing more self-employed physicians on board as employees, which can bring benefits to both parties, but it brings a potential problem for risk managers. What do you do about tail insurance?

The easy answer is to have physicians take care of their own med mal tail and prior acts exposure. But hospitals often sweeten their recruiting offer by agreeing to pay for the tail exposure, especially for highly sought specialists, says Mary Anne Hilliard, JD, BSN, CPHRM, chief risk counsel with Children's National Medical Center in Washington, DC, and president of the American Society for Healthcare Risk Management (ASHRM) in Chicago.

"The tail coverage problem often comes up in negotiations around hiring," Hilliard says. "The doctor wants the job, and the hospital wants to hire, but someone has to cover the tail liability."

The physician's own coverage usually has an option for tail coverage with stated terms, typically a percent of the annual premium, notes John Geisbush, placement leader for the healthcare practice of Marsh, an insurance broker and risk adviser based in Phoenix, AZ. If you want to obtain the tail coverage through that policy, you're stuck with those terms, he explains.

The hospital might have alternative risk vehicles — captives and self insureds — that could absorb the tail liability for the physicians or physician groups, he says. Additionally, insurers are beginning to offer more tail-only policies for physician exposures, he says. "The fact that we have freestanding tail options is a positive development," Geisbush says. "We didn't have any freestanding options in the past. It's a limited market now, but I think we may see an expansion of those options."

The decision making might come down to how much risk the hospital is willing to take on and how much it is willing to pay to reduce that risk, Geisbush says. The risk can be transferred by paying for a tail policy, but that move reduces your cash flow. Taking the tail exposure into your own captive or self-insurance plan saves you that policy payment, but you could end up paying for a med mal case down the road. (See the story on p. 17 for tips on deciding how to provide tail insurance.)

"If you bite the bullet and invoke the tail provisions in the policies of the physicians being acquired, the issue just goes away at that point. There's nothing to negotiate, but you might be getting the best deal in terms of cost or coverage," Geisbush says. "If you take that risk into your own risk financing structure, you have to weigh what the actuary says could be the eventual cost to you, and it could turn out to be more than you bargained for."

As with any insurance decision, the risk manager and colleagues in finance will need to weigh the available options to determine what is most affordable and advantageous, he says. The financial expert might be best able to sort through the cost differences, but the risk manager is best suited to weighing the details of the coverage. "Unfortunately the risk manager is usually the last person to find out about these acquisitions," Geisbush says. "The person making these acquisitions should be reaching out to the risk manager very early to make him or her aware of the possibilities and to allow the risk manager to do due diligence."

The risk manager is critical for collecting information about the doctor's past practice, Hilliard says. The risk manager also can learn about existing claims and the potential for unknown claims. That information can be used to help the parties weigh the pros and cons to different approaches and to strategize around solutions that mitigate risk and maximize opportunity.

"Finally, the risk manager can help the physician feel welcome in their new hospital by engaging in the problem and working toward an amicable solution," Hilliard says. "That builds trust and, before you know it, your new doctor is telling folks in your hospital to report and work with risk management because they are good problem-solvers."

Sources

• John Geisbush, Placement Leader for Healthcare Practice, Marsh, Phoenix, AZ. Telephone: (602) 337-6229. E-mail: john.geisbush@marsh.com.

• Mary Anne Hilliard, JD, BSN, CPHRM, Chief Risk Counsel, Children's National Medical Center, Washington, DC. Telephone: (202) 471-4860. E-mail: mhilliar@childrensnational.org.

SOURCE-Healthcare Risk Management (c) 2012 AHC Media LLC. All Rights Reserved.

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Insurers Shares Drop On Interest Rate Worries

LOS ANGELES -- Shares of insurance companies were mostly trading lower on Thursday, a day after the Federal Reserve predicted low interest rates through late 2014.

Low rates often make it difficult for insurers to pay consumers the higher rates guaranteed in insurance contracts, such as annuities and universal life policies, which the companies sold earlier.

On Wednesday, the Federal Reserve said it plans to keep interest rates extremely low until late 2014 to encourage lending and investment and support the economic recovery.

The Fed may also start buying up more bonds to drive long-term rates lower. That could make mortgages and other loans more attractive to consumers, but it's not good news for insurers and other companies that invest heavily in bonds.

Last month, Fitch Ratings forecast that insurers' earnings and investments would be under pressure this year due to low interest rates, increased hedging costs and market volatility.

Among the insurers, Lincoln National Corp. led the sector decline, with shares down $1.27, or 5.8 percent, to $20.67 in afternoon trading on Thursday.

Bucking the trend was Assurant Inc., which rose 23 cents to $39.70.

Elsewhere in the sector:

_ MetLife Inc. declined $1.62, or 4.5 percent, to $34.33.

_ Symetra Financial Corp. fell 23 cents, or 2.5 percent, to $9.05.

_ Genworth Financial Inc. slid 30 cents, 3.7 percent, to $7.76.

_ Torchmark Corp. was down 52 cents to $44.99.

_ Prudential Financial Inc. fell $2.70, or 4.7 percent, to $55.08.

_ Principal Financial Group Inc. slipped 24 cents to $27.05.

_ AFLAC Inc. declined 43 cents to $48.73.

_ Hartford Financial Services Group Inc. fell 61 cents, or 3.4 percent, to $17.59.

_ Unum Group slid 31 cents to $22.82. (c) 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Health Care Costs Eating Carriers Alive

A quarterly survey of fleets conducted by Transport Capital Partners (TCP) indicates that rising health care costs are increasing fiscal pressure on their bottom lines as well as complicating efforts to recruit drivers and independent contractors.

According to TCP’s fourth quarter Business Expectations Survey, over 80% of carriers the firm polled report that recent health care changes will adversely affect them. As a result, more carriers (43%) are shifting additional costs to employees and are asking employees to pay more for family coverage (37%). Some 29% report that while they are affected by increased costs, they still haven’t developed an alternative plan.

“With two-thirds of carriers telling us that driver wages must go up above $60,000 to attract and retain drivers, it is likely that drivers will also put more emphasis on shopping for fringe benefit packages as a part of the compensation mix in the future, especially as the effects of health care change reverberate through the economy,” noted Richard Mikes, a TCP partner and survey leader.

“The cost pressure for driver health care and other employees’ health care is just another balancing act challenging carriers this year during rate negotiations and amidst uncertainty in the general overall economy,” he added.

The problem posed by the rising cost of health care is not just an issue for trucking alone. According to a study published last October by global human resources consulting firm Aon Hewitt – a division of insurance provider Aon Corp. – the average health care premium rate increase for 2012 is expected to be around 7%, which is slightly lower than the 7.5% mark in 2011 but on par with the 6.9% increase experienced by businesses in 2010.

However, the average total health care premium per employee for large companies is projected to be $10,475 in 2012 – up from $9,792 in 2011 and $9,111 in 2010. Aon predicts the average amount employees will be asked to contribute toward this premium cost this year is $2,306 – some 22% of total health care premiums – compared to $2,084 in 2011 (21.3%) and $1,952 in 2010 (21.4%).

Meanwhile, average employee out-of-pocket costs – such as co-payments, coinsurance and deductibles – are expected to be $2,275 in 2012, compared to $2,007 in 2011, and $1,691 in 2010, according to Aon’s study.

Aon said several factors are driving health care cost increases. First, employers continue to experience an increase in the quantity and cost of catastrophic claims, as slower levels of hiring have resulted in slightly older workforces who are more prone to costly medical conditions. Second, generally poorer health – leading to increases in costly conditions such as diabetes and heart disease – is making it difficult for employers to deploy tactics that drive short-term cost savings.

As a result, employers continue to ask employees to absorb increases through a combination of out-of-pocket cost and increased payroll contributions, the firm concluded.

“In addition to sharing costs with employees, organizations are implementing more aggressive ‘incentive’ strategies to get [workers] to understand, and manage, their health,” noted Jim Winkler, large market segment leader with the health & benefits practice at Aon Hewitt.

“Some employers are adopting the mindset that says, ‘if you are going to spend a lot of house money, you need to play by house rules,’ including completing a health-risk questionnaire, participating in prevention and wellness plans, and better managing chronic conditions,” he added.

Lana Batts, a TCP partner, pointed out that such health care cost pressures are putting a greater squeeze on smaller carriers and independent contractors in particular.

“Contractors must be compensated for the cost of their own health insurance or this source of capital and labor for the industry will continue to shrink,” she said. “The survey continues to show less reliance on contractors, because they are simply less available.”

Batts added that smaller carriers are being hit harder than their larger brethren (39% vs. 24%) and are shifting more health care costs to their employees, while wellness plans are becoming more popular with larger carriers. “These changes will also impact the competitiveness between large and small carriers,” she stressed.

View the original article here

LIMRA Attracts Top Industry Execs to Conference to Learn the New Rules

WINDSOR, Conn., Jan. 25 -- LIMRA issued the following news release:

Just like Scrabble(TM) has evolved into "Words With Friends," distribution needs to change to effectively reach consumers in today's technology-driven world.

To help distribution professionals learn the best practices and develop forward-looking strategies to increase sales capacity and productivity, LIMRA is hosting its annual Distribution Conference on Feb. 22-24, 2012, in Ponte Vedra Beach, Fla.

"With life insurance ownership at an all-time low and sales capacity in a two decade decline, we, as an industry, need to figure out a way to transform our distribution model to better communicate and engage consumers in a cost-effective way," said James W. Kerley, president, LIMRA Services. "It is imperative that companies embrace innovation in both product and channel design to achieve vertical growth."

This year's theme, "Distribution: at the Heart of the Game," focuses on providing information and ideas to help distribution professionals understand the issues facing the industry; learn about up-to-date, relevant research; and discover best practices about recruiting, training and field management. Attendees will hear from industry leaders and top practitioners, who will share their experiences and knowledge on topics such as the value of pursuing a multi-channel strategy; how technology is driving change within the traditional channels; and the impact of the current regulatory environment on distribution.

In its second decade, the Distribution Conference attracts more than 300 insurance professionals across the country to gain insights on the latest industry developments and equip themselves with solutions to address the complex challenges they face every day.

For more information, visit the the Distribution Conference web page http://www.limra.com/Events/eventdetail.aspx?id=1118.

TNS 61NF 120126-JF78-3753414 StaffFurigay (c) 2012 Targeted News Service

View the original article here

Lawmakers Seek to Increase Insurance Savings

OKLAHOMA CITY, Jan. 26 -- The Oklahoma State House of Representatives issued the following news release:

In a bipartisan effort to save taxpayer dollars, two state lawmakers have filed legislation that would increase the number of state employees who could opt out of state-funded insurance coverage.

The effort builds on a law enacted in 2011 that allowed state employees and legislators to refuse state-funded coverage if they are already covered by another policy.

However, the current law only applies to individuals "currently covered" by a separate policy.

House Bill 2288, by state Rep. Dustin Roberts and state Rep. Emily Virgin, would expand the opt-out option to include those who "will be covered by a separate group health insurance plan at or before the beginning of the next plan year."

"While last year's opt-out legislation is already saving dollars, it has become clear that additional savings are still possible," said Roberts, R-Durant. "While the savings may be 'small' compared to the size of the state budget, the money we free up through this legislation could pay to hire a new teacher or fund road repair. Every dollar saved counts."

Virgin said the idea for House Bill 2288 came from conversations with local citizens.

"A constituent pointed out that because last year's legislation requires a person to be currently covered by another health insurance plan, there are cases where someone could not opt out because either the next health plan year has not started or they do not want to pay for two plans at the same time during the overlap. House Bill 2288 addresses that loophole to maximize taxpayer savings."

The current law has already saved an estimated half-million dollars and could ultimately save $1.5 million to $3.5 million annually according to past estimates. By increasing the number of state employees who could opt out, Roberts and Virgin believe even greater savings are possible.

House Bill 2288 will be eligible for a committee hearing after the Legislature reconvenes on Feb. 6.

TNS MT93 120127-3755415 61MarlizTagarum (c) 2012 Targeted News ServiceWordcount:

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Debate Over Health Exchange In Va. May Hit Roadblock

By Michael Martz, Richmond Times-Dispatch, Va.McClatchy-Tribune Information Services

Jan. 26--The public debate is under way in the Senate over how to create a health benefits exchange in Virginia, but any legislation appears headed to a dead-end in the House of Delegates.

House Speaker William J. Howell, R-Stafford, said Wednesday that he would discourage approval of legislation in the current General Assembly session to create an exchange.

"I only have one vote, but I can discourage it," Howell said in an interview. "It's an unnecessary expense at this point."

The speaker's position mirrors that of Gov. Bob McDonnell, who doesn't want the state to take action to establish an exchange until after the U.S. Supreme Court rules on the constitutionality of the federal health care reform law that would require its creation.

But key Republican legislators in the Senate say they do not believe Virginia can wait for a ruling on the Patient Protection and Affordable Care Act and meet looming federal deadlines if the law were upheld.

Sen. Jeff McWaters, R-Virginia Beach, said "it would be problematic" for the legislature to wait until 2013 to make decisions on an exchange that must be prepared to enroll participants by that fall and begin operating on Jan. 1, 2014.

"I strongly believe that that's impossible," said McWaters, chairman of a Senate Commerce and Labor subcommittee that on Wednesday began reviewing four legislative proposals to create a state exchange.

Commerce and Labor Chairman John C. Watkins, R-Powhatan, sponsor of Senate Bill 496, warned that Virginia risks having a federal exchange imposed if the state fails to submit a plan for an exchange later this year that the U.S. Department of Health and Human Services certifies by Jan. 1.

"Some will say (federal officials are) going to push the dates back -- that's speculative," Watkins told the subcommittee. "I am concerned that if we defer to that speculation, we will not have a plan in place and we may by default end up in a federal exchange."

That fear is shared by the health insurance industry, which wants the General Assembly to make decisions now on where the exchange would be housed and how it would be governed, as well as the benefits that competing health plans would have to provide.

"We're very concerned about meeting deadlines for being fully operational by fall?'13," said Megan P. Padden, vice president of government programs and compliance at OptimaHealth, based in Virginia Beach.

Three other proposals to create a health benefits exchange are pending in a subcommittee of the House Commerce and Labor Committee for review next week, but none appears likely to reach the House floor over Howell's objection.

The speaker said he does not want Virginia to waste time and money on a requirement that could be overturned by the Supreme Court or repealed by a future Congress, especially if President Barack Obama is not re-elected this fall.

"It's an expense and an effort we don't need to go through at this time," said Howell, who did not rule out a special legislative session being called to take up the issue after the court's ruling, expected by the end of June.

All seven bills to create an exchange provide that the law would expire if the health care act were overturned or repealed.

Americans for Prosperity, a conservative political organization, issued a statement on Wednesday opposing approval of a health benefits exchange in Virginia until the court rules.

"These exchanges are a simple means for the federal government to expand bureaucratic control," said Audrey Jackson, the organization's state director.

Watkins and other senators contend an exchange would benefit Virginians and that the state should act now to set the rules for it.

"There seems to be wide agreement that it would be advantageous for Virginia to take a leadership role and move forward," said Sen. Barbara A. Favola, D-Arlington, who introduced the seventh bill (SB 615) on Friday with Sen. Ralph S. Northam, D-Norfolk.

mmartz@timesdispatch.com (804) 649-6964 ___ (c)2012 the Richmond Times-Dispatch (Richmond, Va.) Visit the Richmond Times-Dispatch (Richmond, Va.) at www.timesdispatch.com Distributed by MCT Information Services Wordcount:

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Families, Life Insurance and Trusts

EL DORADO HILLS, Calif., Jan. 26, 2012 /PRNewswire/ -- As a parent, you understand the importance of life insurance. You've figured out how much life insuranceyou need and determined the kind of policy that fits your budget.

However, you still have some important decisions to make including who should be the owner of the policy and who should be the beneficiary.

For a married couple with children, a life insurance policyis owned by the person whose life it insures and his/her spouse is typically named as the primary beneficiary. In the event of death, insurance proceeds are paid directly to the spouse, which avoids the costs and delays of probate and potential exposure to estate taxes.

Simple, right? But what if the insured person is a single parent – or both parents pass away at the same time?

According to Gary Lardy, CEO of IntelliQuote (http://www.intelliquote.com), an online life insurance agency, families should be prepared for a variety of possible financial scenarios and options in the event of a parent's death. "Most people don't spend much time thinking about these scenarios," says Lardy. "But parents should consider what might happen and plan for their children's needs."

There are several considerations when planning to provide financial stability in the event of your passing: Often minor children are named 'contingent beneficiaries' of a life insurance policy. Generally, insurance companies cannot pay proceeds to minor children, so courts step in and appoint a guardian. This can result in a laborious and costly system of approvals of the guardian's actions until the child reaches the age of majority – between 18 and 21 depending upon the state – at which time he/she will inherit the balance of funds.Other times, close relatives are appointed contingent beneficiaries with the understanding that they will judiciously use the money to raise the children. This shelters proceeds from probate but not estate taxes. Such funds become part of the relative's personal assets and therefore subject to their general creditors.

And, while a relative may be a good and loving person, does he/she, objectively, possess the investment knowledge necessary to manage relatively large sums of money over long periods of time, the success upon which your children's futures depend?

In a third scenario, the 'estate' is designated the contingent beneficiary of life insurance policies. Insurance proceeds paid to the estate become subject to probate, the estate's general creditors and, potentially, estate taxes.

There is an additional option to help preserve your wishes and protect your beneficiaries and life insurance proceeds from probate and estate claims or taxes:

establishing a trust.

TRUSTS:
Trusts fall into two categories: Testamentary Trusts (those established by a Will at death) and Inter Vivos Trusts (those established during life): Testamentary Trusts. A provision is added to your Will that provides for the establishment of a trust for the purpose of distributing funds to raise and educate minor children following your death. Once the children have become self-sufficient, the Will can be modified during your lifetime, removing the testamentary trust provision.Inter Vivos Trusts. These trusts, established during life, may be either revocable or irrevocable: Revocable. Ownership of an asset, in this case a life insurance policy, is transferred to a trust. Control of the policy is retained and the trust may be changed or revoked at any time. At death, insurance proceeds bypass probate and are distributed per the terms of the trust. As the need for insurance coverage changes over time, this flexibility can be quite valuable. The drawback of a revocable inter vivos trust is that the insurance proceeds will be subject to estate taxes.Irrevocable:Most commonly referred to as an Irrevocable Life Insurance Trust (ILIT),ownership of an asset, in this case a life insurance policy, is transferred, irrevocably, to a trust. Ideally, the insurance policy is purchased after the trust is established, as transferring an existing policy to an ILIT results in a 3-year look-back period – meaning if death occurs within that period, insurance proceeds become part of the estate.With an ILIT, a third-party trustee is designated and the trust becomes both the owner and beneficiary of the insurance policy. Premiums are 'gifted' by the insured person and the trustee uses such gifts to pay premiums. Beneficiaries of the trust, usually the insured's spouse and/or children, receive the insurance proceeds, avoiding probate, general creditors of the estate and estate taxes.

As parents and family members, we know we should prepare for the future financial security of our loved ones in the event of an untimely death. Lardy suggests taking the first step by discussing your situation with a licensed life insurance agent and an estate planning attorney to determine which of these scenarios work best for you.

ABOUT INTELLIQUOTE
A leading online life insurance agency since 1997, IntelliQuote provides customers simplified, private access to compare, shop and buy life insurance online, including term life insurance quotes. IntelliQuote offers clients a wide selection of competitive products from A-rated carriers, supported by licensed agents.

This simplified approach makes purchasing a policy easy and straightforward while providing a savings of up to 70% per policy. IntelliQuote is a member of theLIFE Foundation and is committed to ongoing consumer education. For information on how to estimate how much coverage an individual might need, contact www.intelliquote.com, or 888.883.6855.

Available Topic Expert(s): For information on the listed expert(s), click appropriate link.Gary Lardy
https://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=95233

SOURCE IntelliQuote

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LIMRA Attracts Top Industry Execs to Conference to Learn the New Rules

WINDSOR, Conn., Jan. 25 -- LIMRA issued the following news release:

Just like Scrabble(TM) has evolved into "Words With Friends," distribution needs to change to effectively reach consumers in today's technology-driven world.

To help distribution professionals learn the best practices and develop forward-looking strategies to increase sales capacity and productivity, LIMRA is hosting its annual Distribution Conference on Feb. 22-24, 2012, in Ponte Vedra Beach, Fla.

"With life insurance ownership at an all-time low and sales capacity in a two decade decline, we, as an industry, need to figure out a way to transform our distribution model to better communicate and engage consumers in a cost-effective way," said James W. Kerley, president, LIMRA Services. "It is imperative that companies embrace innovation in both product and channel design to achieve vertical growth."

This year's theme, "Distribution: at the Heart of the Game," focuses on providing information and ideas to help distribution professionals understand the issues facing the industry; learn about up-to-date, relevant research; and discover best practices about recruiting, training and field management. Attendees will hear from industry leaders and top practitioners, who will share their experiences and knowledge on topics such as the value of pursuing a multi-channel strategy; how technology is driving change within the traditional channels; and the impact of the current regulatory environment on distribution.

In its second decade, the Distribution Conference attracts more than 300 insurance professionals across the country to gain insights on the latest industry developments and equip themselves with solutions to address the complex challenges they face every day.

For more information, visit the the Distribution Conference web page http://www.limra.com/Events/eventdetail.aspx?id=1118.

TNS 61NF 120126-JF78-3753414 StaffFurigay (c) 2012 Targeted News Service

Lawmakers Seek to Increase Insurance Savings

OKLAHOMA CITY, Jan. 26 -- The Oklahoma State House of Representatives issued the following news release:

In a bipartisan effort to save taxpayer dollars, two state lawmakers have filed legislation that would increase the number of state employees who could opt out of state-funded insurance coverage.

The effort builds on a law enacted in 2011 that allowed state employees and legislators to refuse state-funded coverage if they are already covered by another policy.

However, the current law only applies to individuals "currently covered" by a separate policy.

House Bill 2288, by state Rep. Dustin Roberts and state Rep. Emily Virgin, would expand the opt-out option to include those who "will be covered by a separate group health insurance plan at or before the beginning of the next plan year."

"While last year's opt-out legislation is already saving dollars, it has become clear that additional savings are still possible," said Roberts, R-Durant. "While the savings may be 'small' compared to the size of the state budget, the money we free up through this legislation could pay to hire a new teacher or fund road repair. Every dollar saved counts."

Virgin said the idea for House Bill 2288 came from conversations with local citizens.

"A constituent pointed out that because last year's legislation requires a person to be currently covered by another health insurance plan, there are cases where someone could not opt out because either the next health plan year has not started or they do not want to pay for two plans at the same time during the overlap. House Bill 2288 addresses that loophole to maximize taxpayer savings."

The current law has already saved an estimated half-million dollars and could ultimately save $1.5 million to $3.5 million annually according to past estimates. By increasing the number of state employees who could opt out, Roberts and Virgin believe even greater savings are possible.

House Bill 2288 will be eligible for a committee hearing after the Legislature reconvenes on Feb. 6.

TNS MT93 120127-3755415 61MarlizTagarum (c) 2012 Targeted News ServiceWordcount:

Health Care Costs Eating Carriers Alive

A quarterly survey of fleets conducted by Transport Capital Partners (TCP) indicates that rising health care costs are increasing fiscal pressure on their bottom lines as well as complicating efforts to recruit drivers and independent contractors.

According to TCP’s fourth quarter Business Expectations Survey, over 80% of carriers the firm polled report that recent health care changes will adversely affect them. As a result, more carriers (43%) are shifting additional costs to employees and are asking employees to pay more for family coverage (37%). Some 29% report that while they are affected by increased costs, they still haven’t developed an alternative plan.

“With two-thirds of carriers telling us that driver wages must go up above $60,000 to attract and retain drivers, it is likely that drivers will also put more emphasis on shopping for fringe benefit packages as a part of the compensation mix in the future, especially as the effects of health care change reverberate through the economy,” noted Richard Mikes, a TCP partner and survey leader.

“The cost pressure for driver health care and other employees’ health care is just another balancing act challenging carriers this year during rate negotiations and amidst uncertainty in the general overall economy,” he added.

The problem posed by the rising cost of health care is not just an issue for trucking alone. According to a study published last October by global human resources consulting firm Aon Hewitt – a division of insurance provider Aon Corp. – the average health care premium rate increase for 2012 is expected to be around 7%, which is slightly lower than the 7.5% mark in 2011 but on par with the 6.9% increase experienced by businesses in 2010.

However, the average total health care premium per employee for large companies is projected to be $10,475 in 2012 – up from $9,792 in 2011 and $9,111 in 2010. Aon predicts the average amount employees will be asked to contribute toward this premium cost this year is $2,306 – some 22% of total health care premiums – compared to $2,084 in 2011 (21.3%) and $1,952 in 2010 (21.4%).

Meanwhile, average employee out-of-pocket costs – such as co-payments, coinsurance and deductibles – are expected to be $2,275 in 2012, compared to $2,007 in 2011, and $1,691 in 2010, according to Aon’s study.

Aon said several factors are driving health care cost increases. First, employers continue to experience an increase in the quantity and cost of catastrophic claims, as slower levels of hiring have resulted in slightly older workforces who are more prone to costly medical conditions. Second, generally poorer health – leading to increases in costly conditions such as diabetes and heart disease – is making it difficult for employers to deploy tactics that drive short-term cost savings.

As a result, employers continue to ask employees to absorb increases through a combination of out-of-pocket cost and increased payroll contributions, the firm concluded.

“In addition to sharing costs with employees, organizations are implementing more aggressive ‘incentive’ strategies to get [workers] to understand, and manage, their health,” noted Jim Winkler, large market segment leader with the health & benefits practice at Aon Hewitt.

“Some employers are adopting the mindset that says, ‘if you are going to spend a lot of house money, you need to play by house rules,’ including completing a health-risk questionnaire, participating in prevention and wellness plans, and better managing chronic conditions,” he added.

Lana Batts, a TCP partner, pointed out that such health care cost pressures are putting a greater squeeze on smaller carriers and independent contractors in particular.

“Contractors must be compensated for the cost of their own health insurance or this source of capital and labor for the industry will continue to shrink,” she said. “The survey continues to show less reliance on contractors, because they are simply less available.”

Batts added that smaller carriers are being hit harder than their larger brethren (39% vs. 24%) and are shifting more health care costs to their employees, while wellness plans are becoming more popular with larger carriers. “These changes will also impact the competitiveness between large and small carriers,” she stressed.

Insurance Company Targets 1-800-GET-THIN

Insurance policy giant Aetna features joined affected family members and also suspicious government agencies in chasing law suit against the marketing and advertising agency 1-800-GET-THIN, the business that markets the actual clapboard group fat loss procedure.

Aetna has released an analysis into lap wedding ring treatments on their clients and is "working while using Los angeles Fraudulence Section in the Division associated with Insurance to look into claimed fraudulence ... through the medical procedures centres associated with 1-800-GET-THIN,Inches the company mentioned in a very declaration.

The actual Department of Insurance's scam split offers many groups looking into supposed insurance fraud, explained Byron Tucker, deputy insurance commissioner. The division has the capacity to create arrests as well as pursue fees versus suspects.

Since the exploration will be ongoing, Tucker explained this individual can't discuss specific claims assessed contrary to the companies involved or opportunity from the exploration.

Your advertising company’s chief executive, John Silverman, mentioned 1-800-GET-THIN has not yet engaged in insurance scams and that his organization has not been called through the Office associated with Insurance, as outlined by a message provided for the particular La Instances. Expenses against the organization and it is linked operative centers cover anything from untrue marketing, to be able to racketeering, in order to hiding patients’ massive.

Aetna’s measures improve the pack regarding litigation up against the weight-loss ad strategy simply by local as well as government companies.

In the middle in the problem is the actual medial method that spots a new group or strip on the main stomach, fooling your appendage so the affected individual feels total earlier.

T.A new. Local administrators along with associates in the marketing and advertising organization gone head-to-head inside Dec. This year as soon as the government Food and Drug Administration billed 1-800-GET-THIN along with false promoting.

Chicago Local Supervisor Tag Ridley-Thomas called the company’s indecisiveness a new county-wide health problem.

"Risky plus some circumstances, unsafe processes, really do need to be referred to as away," he said throughout the 12 , experiencing.

If your wedding ring just isn't equipped effectively, it may create acid reflux disease, bloating with the stomach and also esophagus, said Generate. Namir Katkhouda, USC teacher of surgical treatment. This rock band can easily get so the belly produces a great shapely design as well as it could erode and go into the actual tummy.



"Like every single major significant medical procedure, it should be carried out officially appropriately and also the affected individual must be agreeable,In . Katkhouda explained.

Any Gulf Mountains surgery heart connected with the advertisement marketing campaign was hit which has a suit inside mid-January, alleging in which management attempted to hide errors that led to the October. Next year loss of life of the Lap Band patient in their particular service.

Medical doctors are generally accused of ignoring signals the patient was in stress, proclaiming that the physician halted the actual medical procedures more than once due to the fact Rojeski has been "bucking" for the operating stand and also alerts about the watches ongoing in order to appear, according to the legal action recorded throughout T.A new. Region Superior Courtroom.

Whenever health-related employees found Rojeski did not have a heart beat, they called Emergency services but didn't inform the actual dispatcher how the patient continues to be without having a pulse in excess of Fifteen minutes.

The household of the Simi Vly girl recorded the health-related malpractice/wrongful dying legal action versus Valley Surgery Middle as well as linked business Prime Doctors, Corporation. In the fit will be 1-800-GET-THIN LLC.

Based on the suit, the actual woman’s hard working liver had been lacerated throughout the Come early july This year surgery, causing bacterias to enter the stomach hole.

Family members stated these folks were never ever instructed about the lacerations, but “were made to believe the particular medical procedures was a good results and also without having problems,” in line with the match.

No less than several California sufferers have left since 2009 subsequent clapboard group treatments in clinics affiliated with 1-800-GET-THIN, however the business cites a state report that ranks their death price less than those of nursing homes this perform the surgical procedure.

The Irvine-invented panel group has received the tumultuous few many years not too long ago.

Along with mounting authorized measures, the Fda standards loosened demands with regard to surgical procedure endorsement - opening the task to greater than 20 thousand Americans that formerly could have been denied.

Alterations started in February. Next year, when the Food and drug administration reduced the demands for body mass index : your percentage among weight and height that will gauges the person’s degree of obesity -- coming from Forty five or even Thirty five with health problems, for you to 35 as well as Thirty using medical problems.

Therefore someone 5-foot-11 inches wide, weighing 215 kilos enables for the treatment whether they have medical problems linked to obesity, such as high blood pressure levels.

Just a couple several weeks later on, your Lap Band originator Allergan tried to increase the actual surgical procedure to incorporate teens 18 for you to 17 years that are morbidly obese.

Federal government rejects Texas insurance waiver

Government entities about Friday declined the ask for by Arizona to be omitted from a brand new law which restrictions the amount health care insurance organizations could dedicate to cost to do business.

What the law states is part in the Price Attention Take action, changes produced in national healthcare regulation this season in which Texas authorities have to say is unconstitutional. Area of the invoice, called the health-related decline rate need, states that if health insurers tend not to spend no less than Eighty percent of the income upon supplying healthcare or even wellness advancement plans. Health insurance companies who spend more money as compared to Twenty percent about expense as well as professional incomes will be required to provide concessions to be able to customers starting this coming year.

Federal government administrators at the Department associated with Health insurance and Human Services said Arizona would not prove that this state's insurance industry will be fragile by the new legislation. Consequently, Arizona well being insurance firms will likely fork out $476 zillion in discounts in the subsequent three years, explained Gary Cohen, operating representative of management in the company.

"We have got established that will simply no adjustment for the 80-20 rule in Colorado is actually warranted," Cohen explained. "This implies that consumers in Arizona can get the entire benefit of your Affordable Treatment Take action.Inches

The Texas Office of Insurance policy released an announcement rejecting the government agency's results, declaring this hadn't supply insurance companies time and energy to alter their particular company models to fresh rule.

"A reasonable, liable phased-in approach would likely still have available discounts to Arizona buyers without taking a chance on dysfunction, dislocation and revulsion of providers," your division stated inside a assertion.

The Texas insurance policy commissioner requested for a new waiver from your regulation throughout July and requested approval allowing Colorado businesses to be able to steadily lower the actual spending desire for wellbeing services to 71 per cent this year, Seventy four percent within 2012 along with Seventy seven per cent throughout The year 2013.

18 states get sent applications for waivers, and soon after Friday's Colorado determination, a couple of tend to be pending. 9 says, such as Texas, happen to be declined. Six declares happen to be granted any waiver, even though in most cases the agency did not supply the point out up to that wished.

The particular states of course a waiver contain four using Republican governors: Maine, Nevada, Ga along with Iowa. The declares denied contain one with a Democratic governor, De. Florida ended up being declined a new waiver. Gov. Rick Scott, such as Gov. John Perry is a big challenger regarding The presidents medical legislation.

Feds deny Texas waiver on health insurance rules

Colorado regulators won't be in a position to cycle in a very brand new principle meant to come down on health insurance businesses that spend more money as compared to Twenty percent associated with premiums about overhead, federal government officers mentioned Fri.

The U.Utes. Section regarding Health insurance Human being Services stated Texas still did not well back up claims the new tip, part of Chief executive Barack The presidents medical care modernize, may push a tremendous amount of companies to stop supplying procedures to be able to Texans which directly obtain medical health insurance as an alternative to getting it by means of his or her employers.

Underneath the principle, insurance firms that will spend greater than 20 percent involving monthly premiums in order to expenses will have to refund the real difference in order to buyers. The initial rounded involving discounts, regarding procedures bought in This year, must be paid out through August. One.

"This willpower will guarantee customers be given a less expensive for his or her quality buck,In . the business said Comes to an end.

However officials using the Colorado Section of Insurance, whom had inquired that the tip end up being implemented around four years, stated your choice locations an unnecessary load about insurance companies, especially small , midsize businesses that may have to compose less procedures or abandon the consumer market entirely.

"A sensible, liable, phased-in strategy might have available refunds for you to Arizona customers with out risking trouble, dislocation along with withdrawal of companies inside individual market place,Inch the state of hawaii organization said.

Buyer groupings recognized the government ruling, saying approximately $160 zillion must be refunded come early july.

"Texas' ask place insurers' revenue around customers' pocketbooks and also would've build the state to overlook an important possiblity to slow increasing insurance costs,Inches explained Blake Hutson along with Shoppers Marriage .

With regards to 725,000 Texans acquire their insurance policy, and also virtually two-thirds could have qualified pertaining to discounts if your standard have been available this season, state statistics present.

Statistics for Next year haven't been created, the Arizona Section involving Insurance policy mentioned Comes to an end.

Your "medical damage guideline,In . part of the Patient Safety along with Cost-effective Proper care Act involving 2010, was designed to be sure that no less than Eighty percent regarding payments coming from individually acquired health plans tend to be devoted to medical and also disease prevention.

The Colorado Division associated with Insurance policy searched for for you to stage inside the fresh principle, causing rebates in case below Seventy one per cent of premiums ended up focused on health care this season.

The bring about level could have risen through Three or more percentage details 12 months just before eliminating from 80 % throughout 2014.

Without the moved method, the company said, carriers can be instructed to help make remarkable cuts to be able to costs * some thing smaller organizations, with no establishments associated with range, will be hard-pressed to perform.

In their request regarding reduced rendering, your Arizona firm mentioned refunds would've smashed up $158 thousand in 2010 - eliminating Ninety nine.7 percent associated with underwriting earnings for the complete individual-policy market place. A survey associated with Twenty six organizations affected by your guideline found that 12, offering 48,1000 Texans, may need to quit supplying the plans within Texas, the company mentioned.

Nevertheless, federal government dieticians mentioned your state anxieties made an appearance overblown.

Almost all Colorado insurers possibly by now meet the 80 percent common, possess stated they're not going to leave the Texas market or even are generally lucrative sufficient to cover discount payments, the government company explained.

"In general, Texas's software signifies that hawaii features a competing personal health care insurance market, which should be sure that buyers always receive sufficient protection," the company said.

Arizona had been between Seventeen says wanting to slower setup of the 80 % normal. Six to eight had been naturally, 9 have been rejected, and 2 remain approaching.

Friday Recap from Farmers Insurance Open at Torrey Pines, Mickelson Misses Cut

Kyle Stanley photo a second spherical 68 to get a 1 photo steer on the Maqui berry farmers Insurance Wide open in Torrey Pines Golf Course throughout La Jolla.

The particular Clemson College product accompanied about his initial round Sixty two for the North Training course, after which it he the share in the direct, by simply taking pictures -4 around the tougher Southerly Course.

Beginning on the back nine of the Southerly Training course, Stanley were required to remove a double-bogey for the par-4 Fourteenth gap. He accomplished it, and also folded within 5 far more birdies on th morning, to include in his or her first-round lead.

"I got away and off to an excellent start and it ended up being not easy to consider,Inch explained Stanley, any novice in 2011. "But you might have just got to be patient on the market. I am such as I get a decent video game just for this course and merely were required to target doing that."

Seated only one chance rear is Brandt Snedeker, whom experienced the reduced round of the day, any 64 about the Northern Training course.

Snedeker had been helped with a red-hot ability of 5 sequential birdies midway via his or her next spherical. Snedeker started his rounded on the rear eight from the Upper Program, and right after damaging looking for birdie around the 17 pit, this individual ripped off birdies upon Eighteen, One particular, Two, and three. Actually is well liked concluded robust, publishing birdies upon divots 8 and Nine to finish with -13 right after 2 models.

Snedeker in addition birdied 4 divots uninterruptedly recently.

"I'm sure occurring next week,In . stated Snedeker of his or her propensity to be able to string with each other birdies. "It's funny. I buy in blotches. In case a person's followed my occupation, you can see I'm a streaky gamer. I undoubtedly attempt to escape my own, personal means while i can get on these blotches. Especially on the green veggies when I feel like I'm placing the particular basketball properly, I feel like I can make pretty much everything.In .

Sang-Moon Bae photo any 67 about the South Study course to end -12 along with got the actual club house guide at around One:30 g.mirielle. The particular 25-year-old Southern Mandarin chinese produced more effective birdies on the day, such as level Five 18th gap for the South Program.

He or she ended up being signed up with from -12 by Martin Flores. Bae declared he'll almost certainly still "stay aggressive" upon Sunday.

"The South Training course is incredibly difficult, you already know. It is sometimes complicated for me personally. On the other hand feel very happy. My partner and i developed a lot of birdies today and a couple bogies. Thus yeah, Now i'm content at this time.Inch

Very last seasons success Bubba Watson photo any 71 and is 12 photographs guiding the leader.

The reduce series after Friday has been -2, using '68 people generating the cut. That will record involves numerous neighborhood Hillcrest location golfers. Joe Riley (Ike Carol HS) sits from -7, Charley Hoffman (Poway HS) sits in -5, Jim Perez (Torrey Pines HS) is situated from -8, Rickie Fowler (Murietta Valley HS) is at -6.

It could happen to be reduced regarding Fowler, because he skipped a brief birdie putt in 16 that will took your ex to -7. However, this individual undoubtedly got the largest marketing savvy through the day, as being a band of Fowler Fanatics passed out vivid red towels on the art gallery pertaining to race fans to be able to say as they went to the 18th green. His birdie skip had been then a substantial cringe associated with disappointment by the viewers.

Fowler is one of the mission's rising megastars, and is noted for their extremely colorful garments, that often complement from top to bottom.

San Diego's most famous golf enthusiast, Phil Mickelson,(University or college High school graduation) still did not make the minimize. The actual four-time key success, that has earned 3 x in the job from Torrey Pines, picture the -4 marriage ceremony on the N . Study course, nevertheless right after limping their approach to five-over Seventy seven last night, which includes more effective bogeys, he had an excessive amount a perimeter to beat.

They experimented with try taking a little advantages out of your last two nights, as he will continue to focus on their video game early in the year.

"I don't feel bad regarding my own video game, I must say i never,Inch Mickelson said. "I just have to take it from the training 1st tee on the training course, and that is easier in theory at times. All this feels good. The only goal out there this is actually the credit score. Doesn't matter how we hit that. It just matters wha tthe final number is actually, and also today, I'm not really acquiring minimal ratings.In .

Your match proceeds Sunday, widely regarded as "Moving Evening.In . The best trio regarding Stanley, Snedeker along with Bae can tee away from 9:Forty-five the.m. Tv set insurance coverage in the match is going to be aired on CBS beginning at afternoon in Sunday.