Navigating Donations to 529 Plans - Your Money

The following is an excerpt from an article in 

The New York Times
Saturday, September 01, 2012

Navigating Donations to 529 Plans - Your Money

By RON LIEBER

The best gift any of us can give to newborn babies is to point their sleep-deprived parents in the direction of a good 529 or other college savings plan and then seed the account with a little bit of money.

It was hard to avoid this conclusion in the midst of a recent baby boom among money writers at The New York Times. Tara Siegel Bernard, a personal finance reporter, recently delivered her first child, and Paul Sullivan, the “Wealth Matters” columnist, welcomed his second.

I wanted to get both babies a little something, but knowing what I know about how much four years of college will cost, I couldn’t in good conscience send a stuffed animal or a security blanket.

You would think that the state-sponsored 529 plans around the country would be welcoming givers like me who want to take this sort of initiative. But the process of tossing some money into an account is not as easy as it could, or should, be.

The hassles have given rise to several registry services that let you use credit cards to pay for a 529 gift and spare you the need to contact the plans or the parents. Recently, however, the industry group that represents 529 plans and the companies that serve them raised questions about whether the start-ups were violating securities laws.

Why would they do such a thing, when the services seek only to collect assets to deliver to the 529 funds on a silver platter? To figure out the answer, it helps to start with a bit of refresher on how the 529 plans work.

Anyone can open an account, for themselves or someone else. States run the plans, and you can set up an investment account that allows you to choose among various mutual funds.

Money in these accounts grows tax-free, and you can withdraw it without paying any capital gains taxes as long as it’s used for educational expenses. Moreover, a majority of states offer income tax deductions or credits when people deposit money.

This is all nice and will become more so if our tax rates rise in the next decade or two. And the earlier you start, the more the money has time to grow (and the more you save on taxes).

For more, visit www.nytimes.com.

PRESS RELEASE

Serbian Postal Savings Bank Deploys Cisco Connected Physical Security Solutions

In Addition to Physical Security, Several of the Bank's Key Functions, Including Call Center, Data Center and Stock Trading System Run on Cisco Intelligent Network and Cisco Unified Computing System

Related Information

Serbian Postal Savings Bank headquarters in Belgrade, Serbia

Serbian Postal Bank deploys video surveillance from Cisco

BELGRADE, Serbia, March 19, 2012 – Cisco today announced that Serbia's biggest retail bank, Banka Postanska Stedionica (Serbian Postal Savings Bank), has implemented a Cisco® Connected Physical Security Solution at its headquarters in Belgrade and across a network of over 40 branches in Serbia.

With the Internet Protocol (IP) network, video streams from any branch can be monitored from a PC in the central office or any other branch on the network. In addition to physical security, the bank is using the Cisco Borderless Network Architecture and Cisco Unified Computing System^TM to integrate data and voice communication, customer relationship management and data center on a single, intelligent and highly secure network platform.

Key Facts, Highlights:

• With more than 2 million customers and 1,500 employees, Banka Postanska Stedionica is a state-owned financial services group that has successfully completed several acquisitions over the past years. This, however, has meant that physical security systems, including video surveillance, had little standardization and were based on a variety of traditional closed-circuit TV (CCTV) solutions from different vendors, with only a small proportion attached to networked video recorders. Monitoring and maintenance had to be done at a branch level, which was far from efficient and, with little automation, relied on people being able to recognize and respond to events. It also made it virtually impossible to support a coordinated incident response.

• The objective of the bank was to replace its legacy analog systems with an end-to-end, branchwide surveillance system, thus improving the protection of clients and employees, making operation more efficient, and reducing costs.

• Banka Postanska Stedionica is using its Cisco Borderless Network Architecture with Cisco Integrated Services Routers as the foundation for physical security. The network connects 400 cameras, most of them high-resolution digital Cisco IP video surveillance cameras placed both indoors and outdoors.
• Cisco Video Surveillance Media Servers are used at the bank's headquarters and all branches to collect and route video from the cameras and encoders over the IP network. They also offer video archive capabilities, event tagging and bandwidth management for both live distribution and historical recording. Both live and recorded video content is virtually available to all authorized security personnel. Also, certain alarm and sensor systems are integrated so that events that trigger alarms can be matched with the video content.

• Com-4T doo, a Cisco Premier Certified Partner in Serbia, designed and installed a video surveillance management platform, including servers, archiving, and monitoring software. Com-4T also provided training for users.

Supporting Quotes:

• Dragisa Lojanica, head of IT, Banka Postanska Stedionica

"The value of the solution became evident soon after it was switched on. In one of our branches, a cashier accidentally gave a customer an overpayment of 20,000 Serbian dinars (about $275) and the video recording helped identify where the transaction had been made and to efficiently rectify it. Cisco and Com-4T doo experts had an in-depth understanding of our need to create a modern and efficient security surveillance infrastructure, while reducing our total costs by reusing equipment where appropriate. We now have a sound and flexible foundation for the future. As a next step, we are considering the integration of access control based on the network foundation."

• Geetha Dabir, vice president, Physical Security Business Unit, Cisco

"The need to protect critical assets is driving the demand for a more efficient use of physical security technologies powered by next-generation services. With the deployment of Cisco connected physical security solutions including Cisco Video Surveillance Media Servers, Banka Postanska Stedionica is helping to ensure that its customers and employees are protected, while streamlining operations, improving business efficiency and cutting costs."

Tags, Keywords: Cisco, Banka Postanska Stedionica, physical security, video surveillance, borderless network

RSS Feed for Cisco: http://newsroom.cisco.com/rss-feeds

Supporting resources:

• To learn more, visit Cisco Physical Security: www.cisco.com/go/physec
• Cisco Video Surveillance Media Server
• Cisco Safety and Security Solutions
• Medianet-enabled IP Video Surveillance
• Cisco IP Interoperability & Collaboration System (IPICS)
• Cisco Video Surveillance Manager Suite

Video:

• Serbian Postal Bank deploys video surveillance from Cisco

http://www.youtube.com/watch?v=4_uiABWrcdo

News Release from Symantec

Autodesk Selects Symantec’s Clearwell eDiscovery Platform

MOUNTAIN VIEW, Calif. – Mar. 6, 2012 – Symantec Corp. (Nasdaq: SYMC) today announced that Autodesk, Inc., a leader in 3D design, engineering and entertainment software, has selected Symantec’s Clearwell eDiscovery Platform for in-house eDiscovery. Autodesk’s legal and IT teams will use Clearwell to gain greater control over the eDiscovery process, leveraging the solution to streamline eDiscovery procedures from legal hold through review and production in order to significantly reduce the time, resources and costs of eDiscovery.

Click to Tweet: Autodesk takes #eDiscovery in-house with @Symantec’s @Clearwell eDiscovery Platform: http://bit.ly/xLYZ8j

“With Symantec’s Clearwell platform, we are able to achieve significant cost savings and gain greater control over our eDiscovery processes,” said Lisa Turbis, senior corporate counsel at Autodesk. “We selected Clearwell because it provides the unique ability to handle many of our requirements in a single platform. This eliminates the complexity often associated with eDiscovery procedures while reducing the time and resources needed to implement a successful eDiscovery strategy.”

Symantec’s Clearwell eDiscovery Platform is the leading enterprise eDiscovery solution that helps organizations manage legal and regulatory matters with a single application. Using Clearwell, Autodesk can fully meet legal obligations by implementing a defensible legal hold workflow, then focus the collection of potentially relevant data across the organization through federated search-enabled keyword collection. Collected data is further reduced using the platform’s intelligent processing and culling capabilities. Autodesk’s legal team can significantly accelerate early case assessment with Clearwell’s sophisticated analytics including Transparent Search and discussion threads, as well as achieve cost-effective and defensible review through the solution’s comprehensive review capabilities. As a result, organizations like Autodesk can defensibly streamline the end-to-end eDiscovery process. The Clearwell eDiscovery Platform is further complimented by Symantec’s suite of intelligent information governance solutions, enabling organizations to bridge the gap between business, legal, and IT to reduce their risks and costs and work freely in a connected world.

“eDiscovery can be a complex and expensive process for any organization but particularly for large global enterprises experiencing today’s growth in electronically stored information on a magnified scale,” said Kurt Leafstrand, director of product management, Symantec Corp. “To proactively prepare for this emerging need, companies like Autodesk are implementing Symantec’s Clearwell eDiscovery Platform in-house to automate collections, perform strategic early case assessments, and gain greater control over the eDiscovery process. Symantec is pleased to help Autodesk build an in-house eDiscovery process and benefit from significant return on investment.”

Related

• Solution Page: Symantec’s Clearwell eDiscovery Platform
• Solution Page: Symantec Enterprise Vault
• Symantec’s Transparent Predictive Coding
• Symantec’s Intelligent Information Governance

Connect with Symantec

• Follow Symantec’s eDiscovery 2.0 Blog
• Follow Symantec on Twitter
• Follow Symantec Enterprise Vault on Twitter
• Join Symantec on Facebook
• Subscribe to Symantec News RSS Feed
• View Symantec’s SlideShare Channel
• Visit Symantec Connect Business Community

News Release from Wells Fargo - HSAs

News Release

Health Saving Accounts on the Rise; Wells Fargo Health Benefit Services Posts Record Results in 2011
Average balances increased in 2011 as more companies utilize HSAs for their employees

SAN FRANCISCO — March 7, 2012

Wells Fargo & Company (NYSE: WFC) today announced record growth of more than 100,000 new health savings accounts (HSAs) in 2011, representing 38 percent year-over-year growth. The company also reported a 22 percent increase in assets under the HSA program, which is offered through its Health Benefit Services group.

“We continue to see an increase in adoption as more of our customers take advantage of the long-term tax and retirement benefits of HSAs,” said Elizabeth Ryan, head of Wells Fargo Health Benefit Services. “Wells Fargo is committed to educating our customers – including corporate, small business and individual clients – on how HSAs can help people prepare for retirement and make smarter health care-spending decisions.”

Today, more than 320,000 individuals and 10,000 companies nationwide use Wells Fargo HSAs. In 2011, Wells Fargo business clients with HSA programs contributed more than 27 percent of total HSA contributions to their employees’ accounts, helping those businesses save an estimated $10 million in payroll taxes. As the average account balance increased by 10 percent to more than $2,500 (for accounts with a balance), account holders also saved an estimated $90 million in taxes last year. With more account holders taking advantage of the opportunity to invest in mutual funds through their Wells Fargo HSAs, total investment balances increased by 27 percent since last year.

Account-based health plans have surpassed $12.4 billion in assets in more than 8.4 million accounts nationwide, according to the Employee Benefit Research Institute (2012). More than 20 percent of employers offering health benefits now have this plan option, according to Mercer’s annual National Survey of Employer-Sponsored Health Plans (2011).

News Release from American Express - Using Twitter #Hashtags

American Express Turns Twitter #Hashtags into Couponless National Merchant Offers and Cardmember Savings Using Its Smart Offer APIs

Cardmembers Can Now Sync their Cards with Twitter, Tweet, and Save at National Merchant Partners including Best Buy®, McDonald’s, Whole Foods Market, Zappos.com & More

New Technology to be Featured During Upcoming Live-Streamed Concert Event from SXSW® featuring Award-Winning Recording Artist

NEW YORK,  March 6, 2012 -- 

American Express today introduced a new experience for US Cardmembers using Twitter, that turns customized Twitter #hashtags into savings. Now, American Express® Cardmembers can sync their eligible Card with Twitter at sync.americanexpress.com/twitter, and when they tweet using special offer hashtags, couponless savings are loaded directly to their synced Cards – no coupons, no print-outs. Then, when Cardmembers use their synced Card for qualifying purchases online or in-store at participating merchants, the savings are automatically delivered via a statement credit within days. Participating merchant partners include Best Buy®, McDonald's, Whole Foods Market, Zappos and more. This unique user experience is facilitated by American Express' Smart Offer APIs, which also enables American Express to provide detailed reporting to merchants about the online and offline spend behavior of their customers.

"American Express is turning Twitter content into commerce by connecting Cardmembers to merchants and delivering real world value to both," said Ed Gilligan, Vice Chairman, American Express. "With the continued convergence of online and offline commerce, our closed loop continues to enable us to bring seamless, relevant ways to connect our cardmembers and merchants on the most powerful social and digital platforms."

"Every day, millions of people use Twitter to get special offers from the brands and retailers they care about," said Adam Bain, Twitter's president of global revenue. "Now, American Express is making it even easier for people to act on those offers simply by sending Tweets with special offer hashtags from retailers. It's exciting to see American Express build on Twitter in a way that benefits both consumers and retailers."

Sync. Tweet. Save.
Cardmembers can tweet their way to savings by syncing an eligible American Express® Card with Twitter at sync.americanexpress.com/twitter. To take advantage of the exclusive offers available from a variety of the nation's largest merchants, Cardmembers tweet the special offer hashtags to load offers directly to their synced Cards. When the Cardmember uses that same Card to make a qualified purchase in-store or online with a participating merchant, an automatic statement credit is issued within days.

Participating merchants at launch include 1-800-FLOWERS.COM®, Best Buy®, Century 21 Department Store, The Cheesecake Factory, Dell, FedEx Office, FTD®, Gulf, H&M, McDonald's, Seamless.com, Sports Authority, Ticketmaster, Virgin America, Whole Foods Market and Zappos.com. All of the current American Express special offers are highlighted as "favorites" on the @americanexpress Twitter page.

American Express created @amexsync, an automated notification handle that is activated when someone sends a Tweet that includes one of the special offer hashtags. This sophisticated handle detects if a user is already synced and either confirms their offer enrollment or provides a link to first sync their American Express Card to enroll in the selected offer. Additionally, if an offer is no longer available, @amexsync will direct users to check out the Tweets @americanexpress has "favorited" to find the latest offers. Questions or additional assistance will be provided by @askamex, the American Express customer service team on Twitter.

Experience Sync at SXSW®
American Express will showcase the new Twitter experience during a special, nationally live-streamed concert from SXSW on March 12 at 7 p.m. CT featuring an award-winning recording artist. For details, please visit youtube.com/AmericanExpress. The Amex Sync Show will be broadcast live at youtube.com/americanexpress and also be available on the VEVO mobile and tablet platform.

Local and visiting eligible Cardmembers in Austin can take advantage of a special city-wide offer and get $10 when sync their Card, Tweet the special offer #AmexAustin10 and use their synced Card to spend in Austin during SXSW from March 9 to March 13. Limit one statement credit per Cardmember. Click here for program terms.

About American Express
American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress,foursquare.com/americanexpress, twitter.com/americanexpress, andyoutube.com/americanexpress.

Digital Records May Not Cut Health Costs

Excerpt from an article in

The New York Times

Tuesday March 06, 2012

Digital Records May Not Cut Health Costs, Study Cautions

By STEVE LOHR

Computerized patient records are unlikely to cut health care costs and may actually encourage doctors to order expensive tests more often, a study published on Monday concludes.

Industry experts have said that electronic health records could generate huge savings — as much as $80 billion a year, according to a RAND Corporation estimate. The promise of cost savings has been a major justification for billions of dollars in federal spending to encourage doctors to embrace digital health records.

But research published Monday in the journal Health Affairs found that doctors using computers to track tests, like X-rays and magnetic resonance imaging, ordered far more tests than doctors relying on paper records.

The use of costly image-taking tests has increased sharply in recent years. Many experts contend that electronic health records will help reduce unnecessary and duplicative tests by giving doctors more comprehensive and up-to-date information when making diagnoses.

The study showed, however, that doctors with computerized access to a patient’s previous image results ordered tests on 18 percent of the visits, while those without the tracking technology ordered tests on 12.9 percent of visits. That is a 40 percent higher rate of image testing by doctors using electronic technology instead of paper records.

The gap, according to the study, was even greater — a 70 percent higher rate — for more advanced and expensive image tests, including M.R.I. tests and CT, or computerized tomography, scans.

“Our research raises real concerns about whether health information technology is going to be the answer to reducing costs,” said Dr. Danny McCormick, the lead author of the study, who is an assistant professor at the Harvard Medical School and a member of the department of medicine at the Cambridge Health Alliance, a health system north of Boston.

Start-Up Plans to Disrupt Networking Giants

Excerpt from an article in The New York Times
Tuesday, February 07, 2012

Start-Up Nicira Plans to Disrupt Networking Giants 

By QUENTIN HARDY

SAN FRANCISCO - Google, Facebook, Microsoft and Amazon already turn millions of computers into single clouds of supermachines, managing the flow between personal computers of cat videos, e-mails and the president's recent chat on Google Plus.

Millions more of these computer servers figure out what to sell you while you browse the Web. These global systems work only because of something called virtualization, a kind of software that tricks one server into doing the tasks of several. The cost savings and flexibility revolutionized the data management business, since virtualized machines can run on cheap semiconductors.

High-price networking gear still ties together most data centers, however. Companies pay for it because managing data traffic is tougher than mere computation. Now a small company called Nicira, along with a few other scrappy players, is pursuing what is called software-defined networking, which should cut costs and make equipment more efficient.

A software-defined network, which originated in government spy agencies, is similar to server virtualization, and because of that is quite likely bad news for networking equipment makers like Cisco and Juniper Networks. If proprietary systems can be mixed together and cheap chips used in place of custom semiconductors, prices for the gear would most likely will drop.

Retailers Checking 'Nice' on Energy Savings List

The following was gleaned from a newsletter from the U.S. Department of Energy's National Renewable Energy Laboratory.

Retailers Checking 'Nice' on Energy Savings List

December 27, 2011

NREL's Jennifer Scheib checks lighting levels as Rois Langner records them in the grocery section of the SuperTarget in Thornton, Colo. Target is a DOE Commercial Building Partnerships (CBP) Partner.
Credit: Dennis Schroeder

Residential and commercial buildings account for a staggering 40 percent of energy use in the United States.

The U.S. Department of Energy (DOE) and its National Renewable Energy Laboratory (NREL) are working with the nation's commercial building owners to discover new and innovative ways to reduce commercial building energy use.

DOE's Commercial Building Partnerships (CBP) program is a public/private, cost-shared program that pairs selected commercial building owners with DOE's national laboratories and private-sector technical experts. The goal is challenging, yet simple: new commercial construction is designed to consume at least 50 percent less energy than today's code allows (ANSI/ASHRAE/IES Standard 90.1-2004), and retrofits are designed to consume at least 30 percent less energy.

The potential energy savings means a financial benefit for companies and consumers alike.

Good for the Earth and the Bottom Line

NREL Engineers Michael Deru, left, and Ian Doebber examine rooftop units at the Thornton SuperTarget. Through its CBP partnership with NREL, the store could potentially save more than 2 million kilowatt-hours of electricity.
Credit: Dennis Schroeder

"An underlying idea with CBP is to demonstrate that energy efficiency makes good business sense," NREL Senior Engineer Greg Stark said. "We are helping the companies develop better stores that use significantly less energy than their current prototypes — and for roughly same cost as their current buildings."

Coming up with energy saving solutions that can be repeated throughout the U.S. is a key CBP goal.