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The head of the World Health Organization said Tuesday that COVID-19, better known as coronavirus, has a higher mortality rate than that of the seasonal flu, according to 183
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

The NCAA has announced that all winter and spring championships for this academic year have been canceled, which includes the men's and women's basketball tournaments, which were slated to begin next week. The announcement also impacts other major tournaments such as the Frozen Four and the College World Series.The move was made as coronavirus cases spread nationally. The announcement also comes as MLB, MLS, NHL and NBA all have decided to postpone contests indefinitely. The NCAA released the following statement:"Today, NCAA President Mark Emmert and the Board of Governors canceled the Division I men’s and women’s 2020 basketball tournaments, as well as all remaining winter and spring NCAA championships. This decision is based on the evolving COVID-19 public health threat, our ability to ensure the events do not contribute to spread of the pandemic, and the impracticality of hosting such events at any time during this academic year given ongoing decisions by other entities." 1001
The massive storm system that killed several people from Texas to Mississippi is now barreling east, threatening to spawn tornadoes and other catastrophic weather from New England to the Gulf Coast.About 90 million people are under the gun for destructive weather Sunday, CNN meteorologist Haley Brink said.While Sunday's storms might not be as severe as the ones that battered the South on Saturday, they will hit far more people in heavily populated cities."New York, Washington DC and Atlanta all within the zone," CNN Meteorologist Derek Van Dam said.At least one tornado was reported Sunday morning in southeast Alabama, near Troy and Goshen, the National Weather Service's Birmingham office said."Heavy rainfall may hide this tornado. Do not wait to see or hear the tornado. Take cover now," the NWS office said."Flying debris will be dangerous to those caught without shelter. Mobile homes will be damaged or destroyed. Damage to roofs, windows, and vehicles will occur. Tree damage is likely."Not just tornadoesBut tornadoes aren't the only possible cause of destruction Sunday."Damaging winds and some hail are also associated with these storms pushing through the Southeast this morning," Brink said.The threat of severe weather will likely increase throughout the day, the National Weather Service's Storm Prediction Center said."Some storms may also produce large hail or torrential downpours resulting in localized flash flooding," the weather service tweeted.At least 3 children killed in this storm systemThe storm system's first two victims were two children in east Texas.The children, ages 3 and 8, were killed when a tree fell on a car. They were in the back seat with their parents in the front, Angelina County Sheriff's Department Capt. Alton Lenderman said.A preliminary damage survey showed an EF-3 tornado, with winds up to 140 mph, touched down in Robertson County, the 1907
The cousin of a man shot and killed by an off-duty police officer in a California Costco says his relative was nonverbal and couldn't have started the argument that allegedly led to the shooting, according to a 223
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