My wife Debbie and I still watch the evening news. I know, we should just get instantaneous news from our Twitter feed like everyone else under 80 years old. But I like Lester Holt. Does your Twitter feed remind you to “take care of yourself, and each other” like Lester does? I think not. But […]
ECONOMIC UPDATE Facebook LinkedIn Twitter US Credit Rating Downgrade What happened? The rating agency Fitch downgraded the US government credit rating one notch from AAA, its highest grade, to AA+ on August 1, 2023. The justification was rising debt, fiscal deterioration, and “the erosion of governance” from repeated debt limit standoffs. Fitch issued a downgrade
In the financial industry, the term “Investment Policy Statement” is used a lot – but what is an Investment Policy Statement (or IPS) and do you really need one? Definition of Investment Policy Statement (IPS) An investment policy statement is a document written to provide the strategy for selecting and monitoring plan investments. This document
The term “Fiduciary” comes from the Latin word “fiduciaries” which means trust. In 401(k) terms, a fiduciary is someone entrusted with complying with the requirements outlined in ERISA—the Employee Retirement Income Security Act of 1974. This act governs the management and operation of retirement plans and protects the interests of those invested in the plan.