Break from the Grind March 23, 2017

A Little Friday File Fun

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In South Africa, a soccer player scored two goals during a match between Free State and Cape Town, and afterward, he inadvertently gave an incredibly awkward post-game interview. The player told the interviewer that he appreciated his wife and his girlfriend, before backtracking and trying to make it clear he only meant to thank his wife, according to NY Magazine.

In Cumbra, UK, a woman was having some boiled eggs for breakfast when she says she felt something funny in her mouth. “I took one, peeled it and bit into it when I feel something like gristle in my mouth,” the woman told South West News Service. “It fell on to the plate and I couldn’t understand where it had come from―I thought it had come from me.” What Thompson saw was a small diamond. She was worried that someone had actually lost a diamond. However, a jeweler who examined it said the gem was most likely cubic zirconia, not a real diamond.

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In New York, Demeter Fragrance Library, a New York-based company that develops fragrances based on everyday scents, has developed a new perfume that will bring memories of a dozen kitten cuddles, called Kitten Fur. “Now after 15 years of effort, Demeter has captured the olfactory essence of the warmth and comfort of that purrfect spot, just behind kitten’s neck,” the company wrote on its website, according to the Huffington Post. The scent of Kitten Fur is being sold in several Demeter products, including cologne, roll-on perfume oil, body lotion, shower gel and a diffuser oil.

In Edwardsville, Pennsylvania, Luzerne County prosecutors say Assistant District Attorney Jill Matthews received a text using drug lingo that they called an “obvious text for a drug deal,” according to the Associated Press. They say she later received a photo of a plastic bag containing a green substance on a scale. The texter wanted to trade mari.juana for her.oin. He was arrested, but is now being sought after failing to appear for a hearing.

In Paris, France, French gendarmes called to a robbery found the suspected thief stuck in a hole he’d made with a hammer in a shop window. Firefighters were called to free the man, who was then taken into custody, according to the Associated Press.

In Alexandria, Virginia, a 21-year-old man robbed an apartment and then jumped off the second-story balcony after the owner returned home. The robber broke his leg in the jump off a balcony, and then called authorities to help him. The authorities say he will be charged after his release from the hospital, the Associated Press reports.

This is the biggest rooster I have ever seen.

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Snow shoveling fails and fun.

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A new sport: Russian car curling.

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Compliance March 23, 2017

IRI Releases 2017 Policy Agenda

The Insured Retirement Institute says it will call on Congress and the Trump Administration to support greater access to workplace retirement plans and simplified lifetime-income products.
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The Insured Retirement Institute (IRI) has announced its public policy agenda for the year. The organization’s 2017 Retirement Security Blueprint will act as the framework for advocating in favor of regulations aimed at ensuring Americans have access to the resources and advice they need to plan for a comfortable retirement.  

The IRI says it will call on Congress and the Donald Trump Administration to engage in dialogue about Americans’ most pressing concerns when it comes to retirement planning including the fear they aren’t saving enough or would outlive their savings.

In support of lifetime income, The IRI believes “Congress or the Department of Labor should clarify employer fiduciary responsibility in the annuity selection regulations to allow employers to select lifetime income products provided by insurers that meet certain existing regulatory requirements.”

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It would also call on Congress to enact legislation that would ease access to a “wide array of lifetime income products.” However, the IRI notes that these investment vehicles can be very complex, which produces a major burden for Americans at a time when they are living longer and run greater risk of depleting their nest eggs. Therefore, the IRI is calling on Congress to “update required minimum distribution (RMD) rules to reflect longer lifespans” and to amend the Internal Revenue Service (IRS) Code to reduce the age requirement for in-service rollovers to purchase lifetime income products.  

The group also believes “the Securities and Exchange Commission should adopt a variable annuity summary prospectus and annual update to improve consumers’ understanding of their investment choices and reduce regulatory burdens to facilitate better decision-making regarding lifetime income options.”

Moreover, the IRI stated in its policy agenda that it will support legislation providing greater access to employer-sponsored retirement plans, while protecting the current tax structures surrounding retirement plans.

In light of the uncertainty regarding the DOL’s Conflict of Interest rule, the IRI is pushing Congress to “establish a consistent best interest standard of care that protects affordable access to professional financial guidance, preserves access to retirement advice, and offers a wide array of lifetime income products.”

IRI President and CEO Cathy Weatherford says, “The principle of protecting and expanding access for American retirement savers is the foundation of our 2017 agenda. Our Blueprint identifies policy proposals that expand access to workplace retirement plans, increase lifetime income options to help Americans ensure their savings will not be outlived, protect access to professional financial advice, improve access to the education American savers need to make better-informed decisions regarding their finances, and preserve the current tax treatment and structures for Americans’ retirement plans.”

For access to the full blueprint, visit IRI.com.

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