Reducing the legal threshold for a driver's blood-alcohol content from 0.08 to 0.05 would be a key step in curtailing the US' 10,000 deaths annually related to alcohol-impaired driving, the National Academies of Sciences, Engineering and Medicine says in a report commissioned by the federal government. It also calls for higher state alcohol taxes and reduced availability of alcohol, among other recommendations.
An effort to bring more young employees into property/casualty insurance jobs has yielded positive results in its first two years, "but we could certainly make it better," said American International Group CEO Brian Duperreault. The initiative's third annual Insurance Careers Month is scheduled for February and will involve insurance employees of all ages conducting outreach to students in college and high school.
Snow totals have reached as high as 1 foot in parts of central North Carolina after a storm brought frozen precipitation and frigid temperatures to states throughout the South. The storm is blamed for at least 10 deaths related to icy road conditions and other effects of the cold weather.
Crews are still looking for three people who are unaccounted for after heavy rain caused a mudslide in wildfire-affected areas of Montecito, Calif. The mudslide killed at least 20 people and left more than 120 homes destroyed.
Federal officials are delaying the disbursement of a $1 billion emergency loan for Puerto Rico's recovery from Hurricane Maria because the territory's cash balance is not facing a shortfall like its officials had claimed. The funds will be distributed when Puerto Rico's cash balance declines to a level that has yet to be determined, federal officials said.
An $81 billion aid package for Hurricane Harvey recovery is sidelined as Republican lawmakers work to craft a bill that will prevent a government shutdown at midnight on Friday. "Every day that goes by without funding is another day that Texans who have been upended by Hurricane Harvey go without the resources needed to rebuild their lives," said Ciara Matthews, a spokesperson for Texas Gov. Greg Abbott.
Long-term-care specialists dispute some advisors' stance that stocks and bonds are preferable to long-term-care insurance in an investment portfolio, which Nicole Gurley of Gurley LTCI describes as "short-sighted." Lawrence Sorace of Mulberry Lane Advisors says relying on stocks to save for health care leaves clients exposed to market risk, and he says long-term-care insurance is "absolutely needed" to cover costs that Social Security, Medicare and Medicaid don't.
A survey by Aperion Care found that millennials might have some overly rosy expectations for their retirement savings. The AARP says $1.18 million is necessary for a retiree to live off $40,000 for 30 years, but only 15% of respondents said they plan to save $1 million to $2 million.
Many lower-producing financial advisors, and some higher-producing ones, are exiting large wirehouses for regional and smaller national brokerage firms, industry experts say. The moves are often about money, as many wirehouses have compensation structures that penalize lower-producing advisors, but experts say smaller firms are also appealing because they offer less pressure and higher levels of support.
The new tax law contains a number of opportunities advisors can capitalize on to save clients money, writes columnist Greg Iacurci. He outlines seven salient strategies, which cover aspects of family gifting, Roth conversions for individual retirement accounts, 529 savings plans and advisory fees.
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