The Department of Labor (DOL) Fiduciary rule officially takes effect today. Long delayed, the rule expands the definition of a fiduciary. Previously, brokers offering advice on retirement accounts simply had to meet suitability standards which meant that their recommendations including the products they sold their clients had to be in line with the client’s goals. For example, a retiree seeking advice on their 401k is instructed by their … [Read more...]
Livingston County Public Services Talks DA Staffing
LIVINGSTON COUNTY – The Public Services Committee heard a departmental and staffing update from District Attorney Greg McCaffrey Wednesday morning. The DA's Office came to the front of the County's attention in April 2016 when New York State effectively mandated that all counties increase the salaries of their respective district attorneys to $183,297.75 per year in 2016, $193,000 in 2017 and $203,000 in 2018. On Wednesday, McCaffrey laid out … [Read more...]
NYS Awards Livingston County $3.5M for Major Projects
LIVINGSTON COUNTY – New York State awarded the County government about $3.5 million for four major local economic development projects. According to a press release from Livingston County, they are the recipients of four large awards through the 2016 New York State Regional Economic Development Council Awards announced on Dec. 8. The money will go towards: the County's Brew IN Livingston initiative; a County-wide public market study; the … [Read more...]
IRS Warns of Increased Scams at Height of Tax Season
NYLON – The Internal Revenue Service warned all taxpayers about the threat of tax scams at the height of tax season. The IRS says that the Treasury Inspector General for Tax Administration has received 90,000 complaints of scammers calling people claiming to be the IRS and identified about 1,100 victims who have lost an estimated total of $5 million. "There are clear warning signs about these scams, which continue at high levels … [Read more...]
Roller Coaster Outlook Causes Layoffs for Coast Collections
GENESEO — Coast Professional Inc., a Louisiana-based loan collection agency which in December 2014 announced that it is expanding and increasing their work force, has now taken a sharp turn in their outlook and says they will be laying off 172 employees at their Geneseo facility. During the Livingston County Industrial Development Agency Meeting in December, Coast representatives proudly informed the committee of their growth and potential new … [Read more...]