Estonia cuts fee cap, relaxes investment rules for pension funds

first_imgTallinn, EstoniaThe previous classification of second-pillar funds on the basis of equity risk (25%, 50%, 75% funds) has been abandoned, as it was considered inaccurate. Instead, each management company must determine and publish the risk level of each of its funds.Further new rules are intended to accelerate the current decline in management fees.The maximum basic management fee for second-pillar pension funds has been lowered from 2% to 1.2%. The government estimated that this measure would reduce the average basic management fee to 0.62% this month, from its previous level of 0.96%.However, fund managers will, for the first time, and under certain conditions, be able to charge an additional performance fee, provided that the fund’s performance exceeds the benchmark index – the increase in the social security pension component. The maximum fee allowed is yet to be determined.According to Kristjan Tamla, chairman of the board at Swedbank Investment Funds, Estonian pension funds have been criticised because of the small percentage of portfolios allocated to local investments. Tamla told IPE: “As the Estonian economy and local financial market are very small and shallow, most companies do not raise capital from listed markets, and are instead leaning towards direct borrowing or private equity. The new rules should enable better matching of the corporate sector’s funding needs with pension fund investment limits.”Meanwhile, following parliamentary elections in March this year, Estonia’s new coalition government has been working on a new law to allow individuals to cash in all their pension savings, from the start of 2021.Joel Kukemelk, member of the management board at LHV Asset Management, warned:  “While this law has not yet been passed, it is likely to be approved by the end of this year, as long as there are no changes in the current government structure.“This will result in a significantly lower appetite from local pension funds for all low-liquidity investments, where the exit process takes longer than a couple of months.” New investment rules came into force for Estonian second pillar pension funds earlier this month, relaxing some restrictions on riskier investments in order to improve performance and promote investment in local companies. Under the Investment Funds Act, the 75% limit on equity-based assets within portfolios has been removed altogether, except for funds with a conservative risk profile.Conservative funds will now be able to take on some equity risk and make other, previously banned, investments, to the value of 10% of their portfolios. Pension funds may also now make loans of up to 10% of the value of their portfolio. For real estate, the limit for mandatory pension scheme investment in single properties has been increased from 5% to 10% of the portfolio. However, the overall 40% cap on real estate and real estate funds remains for these funds, as does the 70% cap for voluntary third-pillar funds.The limit for investment in derivatives has been raised from 10% to 50% of a fund’s assets, while the limit for unquoted securities also rose to 50%, from 30% previously. This is intended to allow funds to invest more in Estonian companies.Meanwhile, currency restrictions have been lifted, except for conservative funds.last_img read more

Trump signs executive order to prevent price gouging, hoarding of medical supplies

first_imgOn Monday President Trump signed an executive order to prevent price gouging and hoarding of critical medical supplies amid the coronavirus outbreak.During  Monday evening’s briefing, Attorney General William Barr said that there was proof of people hoarding and price gouging amid the pandemic. Barr said the order would prohibit people from buying supplies to make profit off of them. Trump is authorized under the Defense Production Act to prohibit hoarding of needed resources by designating them as scarce or threatened by people accumulating excessive amounts, Barr said.This order will give Health and Human Services (HHS) Secretary Alex Azar the authority to designate certain supplies as critical, meaning those found to be hoarding or price gouging such equipment could face criminal action, Barr said.The DOJ and HHS are currently working to identify what materials as designated as critical.President @realDonaldTrump just signed an EO to prevent hoarding & price gouging of supplies needed in our war against the #Coronavirus. This sends a strong message – we will not let those hoarding vital supplies & price gougers to harm the health of America in this hour of need. pic.twitter.com/eksxQOVKNM— Stephanie Grisham (@PressSec) March 23, 2020last_img read more

Blackhawks’ Jonathan Toews misses mark with coronavirus comments

first_imgJonathan Toews offered some baffling commentary on the coronavirus Monday.The Blackhawks captain and usually to-himself player said that there is uncertainty as to how and when people catch the coronavirus, something that has been scientifically and factually proven in the past. During a time of misinformation and fake news, maybe the blowback will teach Toews a small lesson in choosing words more wisely in the future. But actions do speak louder than words, and while Toews doesn’t explicitly say “wear a mask” — a directive of medical experts and scientists that could drastically reduce the spread of COVID-19 — he has been spotted at events wearing one himself in recent weeks while helping out Chicago.This is what change looks like. Just got together pro athletes from the @ChicagoBears @chicagobulls @whitesox @NHLBlackhawks @packers @Panthers and @Saints. We invited @nflcommish and @chicagosmayor. We listened to kids and learned about their dream for a better Chicago. pic.twitter.com/sQpnmnPiMj— Sam Acho (@TheSamAcho) July 7, 2020When Toews does speak, he’s usually measured and intelligent. “Captain Serious” garnered praise in June for his eloquent words on the Black Lives Matter movement and racial injustice across the United States.Toews and the Blackhawks are set to return to the ice in August. Jonathan Toews: “Does anybody really know how and when people catch this thing? I think the best you can do is get good rest, eat healthy, take care of your body, kind of do the little things that lower your chances.— Scott Powers (@ByScottPowers) July 13, 2020″What else can you do? Sitting around worrying about it is just going to drive you crazy. I think the NHL’s gone to great lengths to create a safe environment. It’s far from perfect at the end of the day.— Scott Powers (@ByScottPowers) July 13, 2020″Everyone has their own beliefs, seeing where they stand with all this. It’s up to you to really do the right thing to be respectful of others but also take care of yourself.”— Scott Powers (@ByScottPowers) July 13, 2020MORE: When do the NHL playoffs start?”Does anybody really know how and when people catch this thing?” Toews said. “I think the best you can do is get good rest, eat healthy, take care of your body, kind of do the little things that lower your chances. What else can you do? Sitting around worrying about it is just going to drive you crazy.”I think the NHL’s gone to great lengths to create a safe environment. It’s far from perfect at the end of the day. Everyone has their own beliefs, seeing where they stand with all this. It’s up to you to really do the right thing to be respectful of others but also take care of yourself.”Toews goes a little half-and-half with his comments, drawing the ire of some. While he misses the mark in questioning how the virus is spread, his comments in general are also a whole lot of nothing; Toews doesn’t denounce testing or wearing a mask, after all, and offers pretty basic life advice in the process. For comparison: If you want some really bad coronavirus takes from the sports world, here’s MLB umpire Joe West and Michigan Wolverines head coach Jim Harbaugh. You can file Toews’ words under “irresponsible” but not “malicious.”last_img read more

Penrose & Associates Physical Therapy: Solutions to Pain and Alternatives to…

first_imgFacebook7Tweet0Pin0Submitted by Penrose & Associates Physical TherapyOne hundred-thirty people die every day from Opioid overdose and 2 million people a year have an Opioid use disorder. We need to engage in meaningful conversations about pain!Jennifer Penrose. Photo courtesy: Penrose & Associates Physical TherapyThere are real options for pain management besides pain killers and injections: CBD & other natural supplements, TENS units, acupuncture, meditation, yoga, physical therapy, massage therapy – just to name a few!Did you know that if you have chronic pain 6 months or longer your brain does start to change? In fact, this will sound odd but neuroscience research shows that the brain loses the ability to discriminate between right and left (called left right discrimination). In fact you can go to Graded Motor Imagery and test your own ability to discriminate left vs right. If you cannot get the answers accurate in 2 seconds and less than 80 percent accuracy the pain is starting to make some changes in your brain. This is something we can help with in physical therapy. Working on right left discrimination will decrease your pain and start to help with “re-setting” nerve pathways.Another successful method is a TENS (transcutaneous electrical nerve stimulation) unit.  The electrodes applied to your skin send electrical impulses along nerve pathways. These electrical impulses flood the nervous system, reducing its ability to transmit pain signals to the spinal cord and brain. The same electrical impulses also stimulate the body to produce natural pain relievers called endorphins. We can show you how to use a portable TENS unit safely and effectively.We believe in giving people options for pain management and we also want to help problem solve movements/activities that hurt and give you tips on how to move with less pain.  It is amazing when you learn the right exercises and how to move with less stress to the joints how much better you feel!  We are here to listen to what you want and find multiple approaches to solve that with you.CBD oil can help alleviate pain without creating dependency. Photo courtesy: Penrose & Associates Physical TherapyWhat is CBD? Cannabidiol (CBD) is a type of cannabinoid, a chemical found naturally in cannabis (marijuana and hemp) plants but it does not cause the “high” feeling often associated with cannabis. That feeling is caused by tetrahydrocannabinol (THC), a different type of cannabinoid.How does CBD work? Everyone has a cell-signaling system known as the endocannabinoid system (ECS). CBD interacts with a core component of the ECS — endocannabinoid receptors in your brain and immune system.  Receptors are tiny proteins attached to your cells. They receive signals, mostly chemical ones, from different stimuli and help your cells respond. This response creates anti-inflammatory and pain-relieving effects that help with pain management.However, if you can’t eat grapefruit than you can’t use CBD. Go to drug.com to see if your medications interact with CBD and talk to your doctor and pharmacist.CBD does have an inverted horse shoe shaped response curve with increasing levels; so higher amounts is not necessarily better.  ou also want to make sure you choose a reputable company that does perform third party testing and ensures quality control and offers a certificate of analysis with each batch showing less than .3 percent of THC in the CBD product.One CBD oral product that we stock and recommend is through a company called Nutrametrix product named Cannabiquin. It is “full spectrum hemp oil” with 10 mg of CBD and Black cumin seed extract (Thymoquin). These two combined make a very powerful anti-inflammatory and anti-oxidant.  Research has shown the two combined decreases inflammation by 7.7 times! The “full spectrum hemp oil” does allow for other natural CBDs and their benefits of relaxation and improved sleep to help you as well.If you are struggling with pain management then please reach out. If you want to have a FREE pain discovery visit to go over options like CBD topical and oral, Joint support: Glucosomine & Hylaronic Acid, Pcynogenol, Curcumin (Tumeric) & other products, TENS units or if physical therapy or massage therapy would be the right step schedule a FREE pain discovery visit with us!  Call us at 360-456-1444.  Penrose & Associates Physical Therapy.  1445 Galaxy Dr. NE Suite 301 Lacey, WA  98516.  www.penrosept.com.last_img read more

Sea Bright Residents Can Visit Property Monday, Tuesday; 56 Buildings Deemed…

first_imgBy Michele J. KuhnWEST LONG BRANCH – Sea Bright residents will be permitted to check on their homes and retrieve essential items  – according to a set scheduled – on Monday and Tuesday, Nov. 5-6, and most likely will not be able to move back until they have obtained a Certificate of Occupancy.Residents are also bracing for a nor’ester than is predicted to hit the area Wednesday, bringing with it high winds, and heavy rains.While the damage in Sea Bright has been extreme, there has been no loss of life, Mayor Dina Long said. “Thank you…  for hanging in there … for keeping the faith,” he said before requesting a moment of silence and reciting the Pledge of Allegiance.Long held a meeting Sunday afternoon outside in the stadium at Shore Regional High School to update the resident of the borough that was hard-hit by Hurricane Sandy. Hundreds of residents sat on metal bleachers in the chilly air and listened to Long as she and other officials spoke over a bullhorn.The mayor told residents that all properties in the borough had been assessed for damage and that 56 were deemed to be uninhabitable and no admittance could be gained. Others had been deemed as substantially damaged; still others had from little visible damage to varying degrees of damage.“Every single house in Sea bright sustained some damage,” Councilman C. Read Murphy told the shivering crowd.Each borough property has been inspected and its assessment is listed on the borough’s website at www.seabrightnj.org.“We have moved heaven and earth to get you in to your property,” Long said of the schedule officials mapped out for residents to return briefly to their homes.Those living in the northern end of the borough up to the Rumson Bridge may visit their property from 9 a.m. until 3:30 p.m. Monday, Nov. 5. Those with property south of the bridge may visit from 9 a.m. to 3:30 p.m. Tuesday, Nov. 6.Residents may bring bags to get essential items to the foot of the Rumson Bridge during those hours. There they will be put on shuttle buses and dropped at their property. They will later be picked up and shuttled back to Rumson. “Please do not bring children. Please do not bring pets,” she said. Long also asked that resident not walk around the borough because conditions are still considered dangerous.While visiting their homes, residents can board their windows with plywood and supplies donated by Builder’s General. Borough employees will be able to help residents with the window boarding.While Long said she believed residents with would not be able to go back to their homes with full access for themselves and their cars until Monday, Nov. 12, Councilman James LoBiondo said he believed it could be this Friday, Nov. 9. Long later said she hoped LoBiondo’s assessment was the correct one. She called the situation in Sea Bright “fluid” with changes occurring on a regular basis.LoBiondo reported to the cheers of the residents that all gas leaks had been contained but service would be shut off to half of the borough for up to a month because of the damage to the system.Sewer pumps that were damaged in town were being replaced this week.Water service has not been interrupted and the system would not be shut down because officials wanted to keep the sprinkler systems in buildings with them operational. However, resident who had burst pipes were told they could shut off water to their homes, if it could be safely done.LoBiondo said the fire department has been going door-to-door to look for noticeable water pipe breaks.Crews from Jersey Central Power & Light (JCP&L) were working Sunday in town, along with power company crews from as far away as Ohio, to restore power. They were initially replacing or straightening utility poles and checking their status. Once that was completed, they would begin repairing or restringing power lines.Six feet of sand was blown onto Sea Bright streets and could be fouling various service lines. Crews were working to check them and were looking to see if storm sewer lines needed to have sand blown out of them to help lessen the impact of any flooding from the anticipated storm this week.Councilman Murphy reported that the seawall had been breached in two placed, near Tradewinds and the old Anchorage beach clubs.Murphy praised the mayor and council and said they all had “boots on the ground since day 1” to assist residents and get the borough back to as near normal as possible. Long also praised council members, borough employees, the Federal Emergency Management Agency (FEMA) and Monmouth County for its response to the disaster.A representative of FEMA told the crowd that he worked in Washington. D.C. and had worked on other East Coast hurricane recoveries. “I toured your area a couple of days ago,” he said, “and, to be honest with you, it blew me away.” He urged residents to call FEMA (1-800-621-3362) and get a case number so the agency can assist them.Representatives from FEMA will be available on Tuesday at the Fair Haven Fire Department on River Road — where Sea Bright residents are to cast ballots on Election Day — to help answer questions and assist residents. Phones will be avaiable for those who need to contact loved ones or their insurance companies.Long said Bingham Hall, 40 Bingham Ave, in Rumson was a place where residents could go for warm clothing, a hot meal, hot showers and take care of other needs. Food, water and cleaning supplies will also be available at the VNA office at 141 Bodman Place in Red Bank. The mayor urged residents to keep checking the borough’s website for updates and not to believe rumors that have been swirling about.Rescue workers got a bit of a boost Sunday when world class chefs David Burke of David Burke Fromagerie in Rumson, Chris Wood of Woody’s Ocean Grille in Sea Bright, Pat Trama of Ama Ristorante at Driftwood  and others brought food and equipment to the Sea Bright Firehouse and cooked them a meal.last_img read more

Ridge Road Run Opens the Door to Talking About Suicide

first_img“Irefuse to have what happened to Jack be for nothing,” she said. LITTLESILVER – Dawn Wilcox, an avid runner who has organized her fair share ofraces, said she realized just how different the inaugural Ridge Road Run forSuicide Prevention was going to be last year while helping out at the racepacket pickup the day before the event. Eulner,19, who just wrapped up his freshman year at the University of South Carolina, willagain serve as co-director for the race. He agreed it wasn’t until participantsbegan to arrive to pick up race packets at Road Runner Sports in Shrewsbury theday before the race that he realized the impact the race would have. While heassumed most runners would be local, Eulner said he was surprised by big groupsthat arrived from North Jersey and one man who showed him photos of hisgrandson who had died by suicide and who just looked like a “popular, normalkid who played football,” said Eulner. Thisyear’s race will be held at RBR in Little Silver – a few miles down Ridge Roadfrom last year’s setting in Rumson – Sunday, May 19 and will feature a numberof events, including a 5K, a 1-mile fun run and kiddie dash. Proceeds for thisyear’s race will benefit local organizations, designated by each high school,which Wilcox said helps benefit members of the community. Proceeds from the race will benefit mental health programs at the three organizing high schools and the Mental Health Association of Monmouth County. Forthose wishing to watch the race and cheer on the runners, the course starts infront of RBR and heads down Harding Road to Rumson Road, loops through HanceAvenue and Vista Drive before heading back to the high school on Rumson Roadtoward Harding Road. Organizersare hoping for better weather than last year’s race day, which was cold andrainy with a driving wind. But that didn’t stop all involved from feeling thewarmth of what they were doing. Helooped in students from nearby high schools – and tapped into Wilcox’sexpertise organizing races – to establish the Ridge Road Run, which was held inApril 2018 at RFH. “TheRidge Road Run was more than just a platform for suicide awareness andprevention,” said Lori Jarck, mom to Pierce, a junior at RFH at the time of hisdeath and member of the school’s lacrosse team. “It was a place where we couldremember and honor the lives of our loved ones who died by suicide.” “Wehad family members coming in and showing pictures of loved ones they had lostand telling us why this was so important to them,” said Wilcox, who organizedthe Little Silver 5K for 10 years and continues in her role as one of threedirectors of the Ridge Road Run. “It was so emotional and the energy was justso different compared to other races.” Participantscan form a team or join one of the over 30 teams registered for this year’srace, like #loveyoumorejackmoore, a group running in honor of Jack Moore ofFair Haven, a college sophomore who died by suicide in 2016, or Breaking theBarriers, in memory of Matawan teen Jordan Phillips who died by suicide inApril 2017. Studentsfrom Red Bank Regional (RBR), Rumson Fair Haven (RFH) and Red Bank Catholic(RBC) high schools came together last year to organize the Ridge Road Run aftereach school community was touched by suicide. What they thought would be a wayfor students to put aside rivalries and unite in showing support for thosestruggling with mental health issues and beginning a discussion about suicide,instead grew into a sizable race that attracted almost 1,500 participants andraised over $118,000 for the American Foundation for Suicide Prevention andMental Health Association of Monmouth County.  This article originally appeared in the May 9-15 print edition of the The Two River Times. RBR junior Claudia Kelly, 17, Little Silver – who serves as race co-director again this year – said a number of people came up to her last year to say, “You don’t know how much this means to me.” Kelly, like most of the race’s organizers, had been touched by someone who struggled with depression and suicidal ideation and she wanted to do something that would give her peers an opportunity to start talking about it. Shrewsburyresident Michael Eulner was a senior at RBR last year. He was galvanized to dosomething to prevent another student suicide after seeing on social media howRFH students were impacted by the death of their classmate, Pierce Jarck, inOctober 2017. Mooresaid her mission since Jack’s death is to encourage open conversations aboutsuicide and the Ridge Road Run provides a platform to do that in a “verynon-threatening way.” But she thinks kids are more open to those discussions,which is important with all the stress and anxiety teens face and the addedpressures of social media. “We are a little snapshot of what’s going on in theworld today.” “I can’t change the past, but we can try to change the future,” said Phillips, whose son was a freshman at Matawan High School at the time of his death and a member of the school’s marching band. What’smost special about the race, according to Christine Moore – whose son, Jack,died by suicide in 2016 – was that students from three local high schoolsorganized it. “The kids embraced this on their own,” she said. “They didn’t doit because a grown-up told them it would be a good idea.” It’sthe stigma of suicide, Jarck said, that needs to be removed and people need tolearn how to talk about it, even though it can be difficult and uncomfortable. If you or someone you know has thoughts of suicide, there are people who want to help. Reach out to the National Suicide Prevention Hotline at 1-800-273-8255 or Text HOME to 741741 to contact a trained crisis counselor. A confidential and anonymous helpline for New Jersey’s youth and young adults called 2nd Floor can be reached at 1-888-222-2228. LuannePhillips, whose son Jordan died by suicide in April 2017, will be at the raceagain this year and said she loved that the kids were the ones who organizedthe event and wanted to start the conversation. “It was reallyone of the most empowering days,” said Moore, Fair Haven, whose son Jack was 19and preparing to start his sophomore year at the University of Richmond when helost his battle with depression and anxiety. Reflecting on race day, she said, “Itwasn’t a sad day. I can’t stress that enough.” Get the 4-1-1 on the Ridge Road Run By Amy Byrnes The 5K race will kick off at 8:30 a.m., followed by a 1-mile fun run at 9:30 a.m. and a kiddie dash at 10 a.m. To sign up for a race, volunteer or make a donation, head to the Ridge Road Run website at ridgeroadrun.org. Describedby participants in last year’s race as “empowering” and “special,” this year’sRidge Road Run for Suicide Prevention is set for Sunday, May 19 at Red BankRegional High School in Little Silver and offers lots of opportunities toparticipate. Hesaid he thought, “This just can’t happen again,” and began talking to RBRadministrators and staff to see what he could organize to help shine a light onsuicide and mental health. As class president, he said he felt like he was in aposition to be able to create awareness throughout the Two River area. “Myson, Pierce, led a full, vibrant, loving and caring life and I hope that hewill be remembered how he lived and not how he died,” said Jarck. “The Ridge Road Run gave us the chance to outwardly and openly honor and remember our beloved Pierce.”last_img read more