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The Massachusetts Institute of Technology is reviewing about 0,000 it received from foundations controlled by accused sex trafficker Jeffrey Epstein, MIT's president said.The school also will donate that amount to a charity benefiting Epstein's victims or other sexual abuse victims, President L. Rafael Reif said in an email.The review will focus on the facts around the donations, made over 20 years, and how the school handles contributions and can improve that process, Reif said.Epstein was awaiting trial on charges of sex trafficking involving underage girls when he killed himself by hanging in a New York jail cell this month."I offer a profound and humble apology" to the victims on behalf of the administration, Reif said. "With hindsight, we recognize with shame and distress that we allowed MIT to contribute to the elevation of his reputation, which in turn served to distract from his horrifying acts. No apology can undo that."The donations went to the MIT Media Lab or Seth Lloyd, a professor of mechanical engineering, according to Reif's email. 1078

The National Hurricane Center confirmed Thursday that a tropical depression in the Gulf of Mexico has officially strengthened into Tropical Storm Barry.The storm currently has winds of 40 mph — a system officially becomes a named tropical storm when winds reach 39 mph.The National Hurricane Center says there's a chance the storm could strengthen into a Category 1 hurricane before it makes landfall. A storm officially becomes a hurricane when winds reach 74 mph.Even worse: Barry is a slow-moving storm, crawling across the Gulf at just 5 mph, the 563

The human and economic toll of the lockdowns against the coronavirus mounted Thursday as India struggled to feed the multitudes, Italy shut down most of its industry, and a record-shattering 3.3 million Americans applied for unemployment benefits in a single week. While world leaders held a virtual summit to grapple with how long to keep the global economy at a standstill to help flatten the rising curve of COVID-19 cases, the damage so far was coming into acute focus. 486

The American Society for the Prevention of Cruelty to Animals provided tips on Tuesday on how to keep animals safe and healthy as the country deals with the spread of coronavirus. Here are the tips provided by ASPCA: Wash Your HandsAlthough there is no current evidence that suggests the coronavirus can be transmitted to or from companion animals, it's always a good idea to follow basic hygiene practices around animals. This includes washing your hands thoroughly throughout the day and before and after direct contact with your pets, their food or their supplies.Play it SafeWhile there have not been any reports of companion animals becoming sick from the virus, it is still recommended that people who are sick with COVID-19 limit contact with companion animals until more information is available. If you are sick or under medical attention for COVID-19, you should avoid close contact with your pets and have another member of your household care for your animals. If you must look after your pet, you should maintain good hygiene practices and wear a face mask, if possible.Stock Up on Pet SuppliesPrepare a kit with essential supplies to have on hand in the event of an emergency. Your emergency kit should include a 30-day supply of your pets' medications, as well as at least two weeks' worth of food and other supplies, like litter. Make sure all pets wear collars and tags with up-to-date identification information. Your pet's ID tag should contain his name, telephone number and any urgent medical needs. Be sure to also write your pet's name, your name and contact information on your pet's carrier.Designate an Emergency CaregiverProactively identify someone who could help with their short- or long-term care in the event you are unable to care for your pets. Consider a family member, friend, neighbor or a boarding facility.Create a Pet DossierIf your emergency caregiver's assistance is needed, make it easier for them by having all of your pets' information in one place. Consider including things like habits, food preferences, medical conditions and medications taken, veterinarian contact information, medical and vaccination records, and any behavioral tendencies. 2203

The average 401(k) balance rose 17% last year to 2,300 from the end of 2018, according to a review of 17.3 million accounts by Fidelity Investments. The average individual retirement account, or IRA, balance rose the same percentage to 5,400.Surging markets around the world were a big reason for the growth: The S&P 500 index had one of its best years in decades with a 31.5% return. Investments of all types logged gains, from junk bonds to stocks from developing economies.But workers’ better savings habits also played a big role.Fidelity said the average worker set aside 8.9% of their pay in their 401(k) in the fourth quarter, a record. Combined with employer matches, the average total savings rate was 13.5% in the quarter, tying its record last reached in the spring of 2019.“Nobody can control the market, so the behaviors of people contributing to their 401(k)s are what get us the most excited,” said Katie Taylor, vice president of thought leadership at Fidelity. “We have people saving 13.5%, which is really close to the 15% that we recommend. That’s a great story.”In many cases, workers may not even realize they’re saving more. Most employers give the option for workers to automatically increase their contributions each year, without having to do anything. Some employers even automatically sign up their employees for these auto-escalation programs, requiring them to opt out if they don’t want their contribution levels to steadily rise.Such features are on top of programs where employers automatically enroll new hires in the 401(k) plan. They all lean on the power of inertia to help workers build up bigger nest eggs. It’s a sharp turnaround from earlier years when workers had to take an extra step to join the 401(k) plan and fill out paperwork whenever they wanted their contribution levels to change.“There’s always a way, if you don’t want to do it, where you can unenroll, but these automatic programs have been a game changer,” Taylor said.Consistent contributions — and giving them time to grow — are keys to building bigger portfolios. Among workers who have been in their 401(k) plan for 10 straight years, the average balance rose to a record 8,200, according to Fidelity.Such figures, though, count only people who have a 401(k). Many lower-income workers, particularly at smaller employers, could not save in a 401(k) even if they wanted to because their companies don’t offer access to one. Legislation passed late last year aims to make it easier for smaller employers to band together and offer plans.Nearly half of all U.S. households aged 55 and over, 48%, had no retirement savings at all as of 2016, according to estimates from the Government Accountability Office. 2737

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