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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 Brazos County (Texas) Health District is investigating after a Texas A&M student may have contracted a suspected case of the 2019 Novel Coronavirus (2019-nCoV). The patient traveled from Wuhan, China, where the coronavirus originated. Health care providers were aware of public health guidance on novel coronavirus and quickly recognized that the patient met the criteria for coronavirus testing.</p><p>Meanwhile, a suspected case has been reported in New Jersey. China's National Health Commission has confirmed 830 cases of the new coronavirus with 25 deaths. A Washington man was recently 624
The Centers for Disease Control and Prevention said on Thursday that they have increased the number of cases of lung injury and deaths associated with e-cigarette product use to 805. Of those 805 cases, there have been 12 fatalities. The 12 fatal cases have been reported in 10 states, including two in both California and Kansas. Two weeks ago, the CDC opened its Emergency Operations Center after 380 confirmed cases of lung damage caused from vaping. Given recent reports of deaths tied to smoking electronic cigarettes, the Centers for Disease Control and Prevention said on Monday it is activating its Emergency Operations Center.The CDC said that activating the Emergency Operations Center "allows the agency to provide increased operational support for the response to meet the outbreak’s evolving challenges. Agency subject matter experts will continue to lead the CDC response with enhanced support from additional CDC and EOC staff."The CDC has stressed that it does not know exactly what is causing an outbreak of lung disease among those who vape. The CDC said that its investigation has not identified any specific e-cigarette or vaping product (devices, liquids, refill pods, and/or cartridges) or substance that is linked to all cases.“CDC has made it a priority to find out what is causing this outbreak of e-cigarette or vaping-related injuries and deaths,” said CDC Director Robert Redfield, M.D. “Activation of CDC’s Emergency Operations Center allows us to enhance operations and provide additional support to CDC staff working to protect our Nation from this serious health threat.” 1615
The CDC released updated figures on Friday of measles cases in the United States so far in 2019, indicating this year marks the highest level of measles cases in the U.S. since 1992. Despite the rise of measles in recent years, the CDC still considers measles eliminated in the U.S. The CDC says that measles elimination means the absence of continuous disease transmission for 12 months or more in a specific geographic area. The CDC said that the majority of cases involved large and close-knit Orthodox Jewish communities in New York, which accounted for 75 percent of cases during 2019. These cases threatened the elimination status of measles in the United States.During January 1–October 1, 2019, a total of 1,249 measles cases, according to CDC. Of the 1,249 cases, 89 percent were unvaccinated or had an unknown vaccination status."Undervaccinated, close-knit communities are not unique to the United States and exist around the world," the CDC said in a release. "These communities are at high risk for outbreaks of vaccine-preventable diseases, which threaten the health and safety of vulnerable persons within, as well as outside of, these communities. "Therefore, public health authorities need to identify pockets of undervaccinated persons to prevent these outbreaks, which require substantial resources to control. A preventive strategy to build vaccine confidence is important, especially one that uses culturally appropriate communication strategies to offset misinformation and disseminate accurate information about the safety and importance of vaccination in advance of outbreaks." 1614
The Church of Jesus Christ of Latter-day Saints will no longer label same-sex couples "apostates" and will allow their children to be baptized into the church without special approval from church leaders, the church said in a surprise announcement Thursday.The announcement was made by Dallin Oaks, a member of the church's First Presidency, at a conference in Salt Lake City."Previously, our Handbook characterized same-gender marriage by a member as apostasy," the church said in a statement. "While we still consider such a marriage to be a serious transgression, it will not be treated as apostasy for purposes of Church discipline. Instead, the immoral conduct in heterosexual or homosexual relationships will be treated in the same way."The church, officially known as the Church of Jesus Christ of Latter-day Saints, said it wants "to reduce the hate and contention so common today."The former policy, announced in 2015, had angered liberal and LGBT members, and some 1,500 left the church in protest, 1021