Supreme Court hears dispute over agent status. (Robert Darden’s case against Nationwide Mutual Insurance Co.: are agents employees for purposes of the … & Casualty-Risk & Benefits Management
Supreme Court hears dispute over agent status. (Robert Darden’s case against Nationwide Mutual Insurance Co.: are agents employees for purposes of the … & Casualty-Risk & Benefits Management
This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on February 3, 1992. The length of the article is 765 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
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Title: Supreme Court hears dispute
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Categories: Nationwide Retirement Tags: Against, Agent, Agents, Benefits, Case, CasualtyRisk, Court, Darden's, dispute, Employees, hears, insurance, Management, Mutual, Nationwide, Over, purposes, Robert, status., Supreme
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Nationwide’s contractor agents sue over benefits. (Nationwide Insurance Agents Association, Nationwide Insurance Cos.): An article from: National Underwriter … & Casualty-Risk & Benefits Management
Nationwide’s contractor agents sue over benefits. (Nationwide Insurance Agents Association, Nationwide Insurance Cos.): An article from: National Underwriter … & Casualty-Risk & Benefits Management
This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on January 23, 1989. The length of the article is 729 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: Nationwide’s contractor age
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Categories: Nationwide Retirement Tags: Agents, article, Association, Benefits, CasualtyRisk, contractor, Cos., from, insurance, Management, National, Nationwide, Nationwide's, Over, Underwriter
Tesla Over Unity Community Extreme Conversions
Tesla Over Unity Community Extreme Conversions
Social Network Dedicated to Alternative Energy Projects. Unique site with never ending user value in super hot niche. So far feat solar, turbine, micro-hydro electric, magnetic engine plans, diagrams, discussions,videos. Support, articles, banners
Tesla Over Unity Community Extreme Conversions
Categories: Arizona Retirement Community Tags: Community, Conversions, Extreme, Over, Tesla, Unity
Over 200 Windows/PC Training Videos & Training Guides
Over 200 Windows/PC Training Videos & Training Guides
60% Commission available on these 200 training videos and guides. Recorded by a retired Microsoft Mvp and Windows Desktop expert! Premium Affiliate Support. Contact me for anything you need. www.marclironpublishing.com/affiliates.html
Over 200 Windows/PC Training Videos & Training Guides
Categories: Individual Retirement Account Tags: Guides, Over, Training, Videos, Windows/PC
Arbita and RetirementJobs.com Partner to Reach Valuable Over 50 Workforce
Arbita and RetirementJobs.com Partner to Reach Valuable Over 50 Workforce
Minneapolis, MN and Wellesley, MA (PRWEB) June 20, 2007
Arbita, the leading provider of global job advertising distribution solutions, and RetirementJobs.com, the Web’s leading career destination for people aged 50+, are pleased to announce a job posting and media solutions affiliation. With this strategic partnership, Arbita and RetirementJobs.com connect employers with a market of experienced workers boasting valuable traits such as lower turnover, greater dependability and work ethic, and flexibility over work schedule and salary as the younger workforce shrinks.
“By 2010, more than 62 million adults over age 50 will be online by 2010 (according to analyst firm, Jupiter Research),” said Tim Driver, CEO of RetirementJobs.com. “Partnering together, Arbita and RetirementJobs.com will make it easy for millions of mature Americans to log-on to identify and secure meaningful work with employers who will value their experience.”
“In 2000, workers aged 55 and older accounted for 13 percent of the workforce. BLS (Bureau of Labor Statistics) projects that figure will rise to 19 percent by the year 2012. Over that same time period, workers between 25 and 54 are expected to decline as a percentage of the workforce, from 71 percent in 2000 to 66 percent in 2012,” AARP revealed in “Reimaging America – AARP’s Blueprint for the Future”.
“While 37% of the boomer generation indicate that continued earnings is a very important part of the reason they intend to keep working, 67% assert that continued mental stimulation and challenge is what will motivate them to stay in the game,” according to a retirement survey by Merrill Lynch.
“We believe in the efforts of the RetirementJobs team to encourage and empower people to find fulfilling work in their golden years,” said Don Ramer, CEO and Founder of Arbita.net. “RetirementJobs is uniquely positioned to add value for jobseekers and employers as our market sheds its misconceptions about the role of so called older workers in the post baby-boom economy. We’re confident that our employers will find real value in the audience that RetirementJobs.com is developing,” said Ramer in conclusion.
About RetirementJobs.com®
As the #1 career website for job-seekers aged 50+; RetirementJobs.com provides opportunity, inspiration, community and counsel to people over 50 seeking work to match their lifestyle. The company’s powerful, easy-to use job board lists thousands of jobs openings for experienced employees seeking work with a Certified Age Friendly Employer™. RetirementJobs.com is a strong public advocate and a catalyst to help employers retain, hire, and benefit from an experienced workforce. Profiled by major media including ABC-TV, BusinessWeek, FORTUNE, The New York Times, and USA Today, the RetirementJobs.com website also offers vital information and inspiration for older workers, including advice, news, success stories, and podcasts. For more information, visit http://www.retirementjobs.com.
About Arbita
Our mission is to deliver the business and systems environments required for the free and efficient flow of opportunity and talent beyond borders. Arbita manages over 100,000 job postings per day for its corporate clients. The media participants in the ecosystem include destinations in North America, Latin America, Europe, Africa, Asia, Australia, New Zealand, and the Middle East.
Since 1993 Arbita has pioneered Internet job advertising distribution while providing strategic guidance to its clients on web recruitment media selection. Based in Minneapolis, USA and located at http://www.Arbita.net, Arbita provides world class Internet recruiting solutions to hundreds of customers including General Dynamics, eBay, Pfizer, and Cox Communications. Arbita’s OnePost system is used in the U.S. by many government contractors to meet OFCCP and EEOC posting and reporting requirements. Arbita’s corporate affiliations include the HR-XML Consortium, the International Association for Human Resource Information Management, and the International Association of Employment Web Sites or IAEWS.
Media Contact:
Patrick Rafter
VP of Communications
RetirementJobs.com
617-901-2697 m
pr(at)retirementjobs(dot)com
http://www.retirementjobs.com
Media Contact:
Kari Havir
Marketing Director
Arbita
612-278-0000
Press(at)arbita(dot)net
http://www.arbita.net
RetirementJobs.com is a registered trademark; Age Friendly Employer, Certified Age Friendly Employer, Age Friendly Employer Certification are trademarks of RetirementJobs.com, Inc. All other trademarks or service marks are property of their respective owners.
This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: http://www.HRmarketer.com) on behalf of the company listed above.
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©Copyright 1997-
, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
Categories: Retirement Jobs Tags: Arbita, Over, Partner, Reach, RetirementJobs.com, Valuable, Workforce
FAMILY TIES Deluxe Edition Version 6.0 – Access to over one billion names and family histories, 3500 Vintage images, Animated maps of Europe, Social security Death Index. Full retail box with CDs and Manual.
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Agecroft Partners Predicts that Pension Funds will Significantly Increase their Exposure to Mid-Sized Hedge Funds Over the Next 10 Years
Agecroft Partners Predicts that Pension Funds will Significantly Increase their Exposure to Mid-Sized Hedge Funds Over the Next 10 Years
Richmond, VA (PRWEB) November 3, 2010
Agecroft Partners predicts that pension plans will significantly increase their exposure to mid-sized hedge funds over the next 10 years. The pension fund industry is in the process of a major evolution in its use of hedge funds that has implications on what percent of their portfolio they allocate to hedge funds and how they achieve their hedge fund exposure, which will have profound implications for mid-sized fund managers. The pension fund industry has a very glacial approach to changes in asset allocation which can take a couple decades to fully implement across the industry. Although pension funds asset allocation trends are slow to develop, they tend to be very strong and consistent.
To better understand this phenomenon, it is instructive to examine the example of pension allocations to international securities beginning in the mid-1980s. In the early 1980s, almost 100% of U.S. pension plan assets were invested in U.S.-traded securities. It was viewed as imprudent and highly risky to invest in non U.S. based securities, despite the strong academic evidence that diversifying outside the U.S. could enhance returns while reducing volatility. The process of U.S. pension plans diversifying their portfolios with investments based outside the U.S. began with a few very large and high profile pension plans adding international equity as a component of their asset allocation. Initially, they limited that exposure to 1% or 2% of their total assets, even though their asset allocation models suggested an allocation in the mid-20% range. This cap was slowly increased every few years until allocation levels in the 20% range were achieved over a 10 to 20 year period. The largest, most high profile pension plans tend to follow the lead of the largest endowment funds, but act as first movers in the pension industry. Mid-sized pension plans typically follow the lead of the larger funds a couple years later, which is repeated yet again by the smaller pension plans several years after that. This trickle down effect is one reason why investment decisions by CALPERS receive so much media coverage: many of the decisions they make will slowly be replicated across the industry.
A similar trend can be seen currently within the pension plan industry that will benefit hedge funds. Ten years ago, the average pension plan allocation to hedge funds was less then 1% and only a very few corporate pension plans had an allocation to hedge funds, with some of the first including General Motors, General Electric, and Weyerhaeuser. In 2001, CALPERS became the first public pension plan to allocate directly to hedge funds. Since then, we have consistently seen an increase in the percentage of pension plans allocating to hedge funds and an increase in the average percent of their assets allocated to this sector. This holds true even with the financial meltdown of 2008 and the subsequent media coverage of Madoff and similar scandals, because pension plans have observed that hedge fund indices have outperformed the long only benchmarks they use to evaluate how their assets are performing.
Agecroft believes that overall approximately 5% of pension plan assets are invested in hedge funds and pension plans which have approved an allocation to hedge funds having an average of 8% of their assets devoted to this sector. In a fully discretionary asset allocation model, with no constraints, hedge funds would assign an allocation multiple times this current level, which is where Agecroft believes the industry, will gravitate over time. The current pension allocation is only a fraction of the allocation of many of the leading endowment funds, many of whom have up to 50% of their portfolio invested in hedge funds.
The typical process most large pension plans follow to achieve their hedge fund allocations begins with a very small initial allocation utilizing hedge fund of funds. This is increased every few years as the pension plan increases its knowledge of the hedge fund market place. At that point, the pension moves to a second phase of investing directly in hedge funds with assistance from a consultant. An overwhelming majority of the hedge funds a pension plan will invest in at this stage of the process are the largest, “brand name” hedge funds with long track records. Performance is of secondary consideration to perceived safety and a reduction of headline risk. A vast majority of pension plans that have a hedge fund allocation are currently in these initial two phases. After a few more years of making direct investments in hedge funds, pension plans move to the third phase and begin to build out their internal hedge fund staff, which shifts the focus from name brand hedge funds to alpha generators. These tend to be more midsized hedge funds that are more nimble. In a study conducted from 1996 through 2009 by Per Trac, small hedge funds outperformed their larger peers 13 of the past 14 years. Simply put, it is much more difficult for a hedge fund to generate alpha with very large assets under management. Many hedge funds do limit the amount of assets they will accept for a particular strategy, but there remains a large financial incentive to grow the fund above its optimal size in light of the strategy. There are other hedge fund organizations that are morphing into large asset gathers and will grow their funds significantly above optimal levels, at times changing their investment process or type of securities traded in order to accept more investor assets. The fund at some point may bear little resemblance to what it looked like during earlier days when it was able to achieve strong investment returns. There is surprisingly little focus by investors on determining capacity constraints for individual hedge funds. Many investors limit their due diligence on this important question to an interview of the manager, who has a conflict of interest.
The pension industry is slow to move, but will gravitate over time to enhancing the risk adjusted returns of their portfolios. This is exactly the process they followed in the late 70s and early 80s after The Employee Retirement Income Security Act (ERISA) was passed by Congress in 1974, requiring all pension plans to prefund their liabilities. At that time, 90% of pension plan assets were invested with large banks, insurance companies and brokerage firms. The top 10 managers of pension plan money were large brand name firms like Prudential, The Travelers, Metropolitan Life, and Equitable. However, pension plans soon realized that these large organizations were not able to generate the same returns as their smaller independent competitors focusing on niche strategies. As a result, the 1980s saw a huge shift away from the brand names to smaller independent firms. This same shift will also take place with hedge funds. This is the process many of the largest endowment funds experienced. These endowment funds began making direct hedge fund investment in large brand name funds, but as their sophistication with hedge funds increased, they increased their allocation to smaller and mid-sized mangers. Agecroft also believes that some of the largest pension plans will adopt a hub and spoke approach to hedge fund investing, in which the hub of their hedge portfolio will be in the largest hedge funds to gain exposure to the “asset class,” while the spoke will be invested in smaller, high alpha managers.
The final step of this evolution will occur when pension plans stop viewing hedge funds as a separate asset class and instead allow hedge fund managers to compete head-to-head with long-only managers for each part of the portfolio on a best-of-breed basis. Many of the leading endowment and foundations have evolved to this point: their portfolios are primarily invested in alternative managers, with large allocations to midsized hedge funds. This allocation strategy is now being called the “endowment fund approach” to managing money. Historically, the large endowment funds have been many years ahead of pension plans in implementing new strategies and as a result have significantly outperformed their pension plan peers.
“Agecroft is not predicting that pension plans will only be allocating to mid-sized hedge funds. What we are predicting is that over the next 10 years we will see a significant increase in the percentage of pension plans investing a meaningful percentage of their hedge fund portfolio away from the largest managers to small and mid-sized managers” stated Doug Rothschild, Managing Director of Agecroft Partners. This evolution is not necessarily a negative for fund of funds or large brand name hedge funds, because the business they lose from their clients evolving to the next phase of the hedge fund allocation process will be offset by a significant increase in the number of pension plans making their initial allocation to hedge funds, as well as a significant increase in the average pension plan asset allocation to hedge funds.
About the author
Don Steinbrugge is Chairman of Agecroft Partners, a global consulting and third party marketing firm for hedge funds. Agecroft was selected 3 years in a by a major industry organization as the top 3rd party marketing firm. Highlighting Don’s 26 years of experience in the investment management industry is having been the head of sales for both one of the world’s largest hedge fund organizations and institutional investment management firms. Don was a founding principal of Andor Capital Management, which at its peak was ranked by Absolute Return Magazine as the 2nd largest hedge fund firm. Previous to Andor Capital, Don was a Head of Institutional Sales for Merrill Lynch Investment Managers and Head of Institutional Sales for NationsBank (now Bank of America Capital Management). Don is a member of the investment committee for multiple institutional investors and is a frequent speaker at industry conferences relative to trends in pension fund asset allocation and the hedge fund industry. During his career he has met with a majority of the largest pension funds and a significant percentage have been clients.
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©Copyright 1997-2010, Vocus PRW Holdings, LLC.
Vocus, PRWeb and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
Categories: Pensions Tags: Agecroft, Exposure, Funds, Hedge, Increase, MidSized, Next, Over, Partners, Pension, Predicts, Significantly, Their, Years
Career Recommendation – Career Modification Over forty – Is it Too Late?
Is it too late to make a career change over forty? There was a time when this may are true and anyone giving career recommendation would have told you to remain where you were. However when it …
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Categories: Retirement Articles Tags: Career, forty, Late, Modification, Over, Recommendation
