Kelly Deranek, Saint Mary’s senior, presented a proposal asking for funding for Dance Marathon. The event is in its fifth year at the College and raises money for the Riley Hospital for Children in Indianapolis. One of the final things SGA has done for the students of Saint Mary’s College is to help fund one of the bigger events on campus — Dance Marathon. Chesley and Smith were shadowing the current president and vice president in preparation for their terms in office. They will continue to observe until they are sworn in to office and, after elections for the other offices this week, the new class officers will also be attending the SGA meetings. “The event’s goal is to celebrate the hard work Dance Marathon has done all year to raise money for the hospital,” Deranek said. “It promotes awareness of the hospital but the Marathon night is all about fun.” In preparation for their upcoming term as leaders of Saint Mary’s Student Government Association (SGA) beginning April 1, juniors Rachael Chesley and Laura Smith attended Wednesday’s meeting. Chesley and Smith were voted in as SGA president and vice president, respectively, for the 2010-11 academic year during the election Feb. 26. Dance marathon will be held in Angela Athletic Facility from 8 p.m. March 26 to 8 a.m. March 27. The event is for Saint Mary’s, Notre Dame and Holy Cross students. Deranek said they are expecting around 550 people, which is the largest attendance the event has ever had. The marathon is 12 hours of dancing with live entertainment and a DJ. It also includes food, games, last minute donations and a counting of how much money was raised. Hoffman also said she and the current SGA vice president and junior, Megan Griffin, were attempting to initiate a Saint Mary’ s heritage course. The course would be one credit and would teach students about the origins and founding values of the College. “The year is coming to a close very quickly and our term in office is almost over,” current SGA president and senior Jenny Hoffman said. “It’s time to think of what final things you would like to accomplish for the student body.” The board members for the event have already begun fundraising, but because all the money has been donated to the hospital, they still needed funding for the event, Deranek said. SGA has started to prepare for the end of the 2009-10 term and will meet only three more times before the newly elected officers are sworn in on April 1. Some of the suggestions made by the SGA members included vending machines in the Student Center and new vacuums in the dorms.
Granting UK retirees freedom to spend their savings as they wish could undermine the success of auto-enrolment, according to NEST.The two government policies – automatic enrolment into workplace pension funds, and ‘freedom and choice’ at retirement – are based on “diametrically opposed” assumptions, the defined contribution master trust warned.The UK parliament’s Work and Pensions Select Committee – a cross-party group of MPs from parliament’s lower house – is conducting an inquiry into the rise of scams affecting pension savers. This has been linked to the ‘freedom and choice’ concept, introduced by former chancellor George Osborne in 2015, which removed the requirement for retirees to buy an annuity.In its response to the committee’s call for evidence, NEST said it was “unrealistic” to move from an accumulation phase built around the idea that consumers were disengaged with pensions to a decumulation phase that placed all the “execution risk” on individual savers. ‘Freedom and choice’ was introduced by George Osborne in 2015“Should this state of affairs continue, we are extremely concerned that a large proportion of the NEST membership and wider savings populations will continue being subject to [the] risk of poor outcomes,” the scheme said – including falling victim to fraudsters.NEST added in its response that “there needs to be significant innovation in both the advice and guidance market as well as from a propositional perspective… We do not see any current evidence that this is happening”.NEST was set up in 2010 as a defined contribution provider to enable to introduction of auto-enrolment.What do members think happens at retirement?NEST surveyed a number of its members to find out their expectations for what would happen with the pot of savings they have built up with the scheme.A third of NEST members (34%) said they expected the pension fund to pay a regular income in retirement – which it is not set up to do.The majority (60%) said they did not know what would happen to their pension savings at retirement, either because they hadn’t thought about it, didn’t understand the options, or hadn’t yet decided.Only 6% of members said they would use their retirement savings to “buy something from elsewhere”.The UK regulator, the Financial Conduct Authority, also responded to the committee’s inquiry, warning that consumers “may miss out on investment growth and pay more tax than is necessary” because of a general mistrust of pension providers.The regulator also said it was working on a “bespoke and targeted” campaign to raise awareness of scammers, in conjunction with the Pensions Regulator.David Knox, author of the Melbourne Mercer Pensions Index, argued in his latest report – released last week – that the UK’s pension system would be improved by “restoring the requirement to take part of retirement savings as an income stream”.In the Netherlands, discussions about allowing individuals more choice at retirement have led some commentators to warn that people could be worse off if they make the wrong choice. The two “diametrically opposed” policies could undermine each other, NEST argued, if savers failed to use their pension pots to build a “more adequate retirement income”. read more
A Wisconsin teenager has an urgent message for his peers about the dangers of vaping.Logan Krahn, 16, has been through a “frightening medical ordeal.”The American Family Children’s Hospital in Madison, Wisconsin, says he is the first patient to be treated in the pediatric intensive care unit because of vaping.Logan was admitted to his local hospital two weeks ago and later diagnosed with Chemical Pneumonitis.The condition could have been fatal for the teen after doctors said his lungs kept filling with fluid, making it impossible for him to breathe on his own.Logan now has permanent lung damage.“If you do not smoke or vape now, please do not start,” Logan warned during a news conference with medical staff. “But if you do, I urge you to stop and get some help.”Related content:DOH: First Vaping Death Confirmed in Florida read more