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July 20, 2010
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North Carolina Annuity News

 

Mayor Bloomberg Announces Tentative Agreement With The Uniformed Firefighters’ Association

Mayor Michael R. Bloomberg and Uniformed Firefighters’ Association (UFA) President Stephen J. Cassidy today announced that a tentative contract settlement has been reached on a collective bargaining agreement covering the period from August 1, 2006 through July 31, 2008. The agreement covers two years, and it includes an 8.16% wage increase and a significantly improved salary structure for newly hired employees including those hired after the first class of 2006. When a uniform differential of 1.5% is factored in, total compensation increases by almost 10%. Under the agreement, the salary for rookie Firefighters is increased by $10,000 to $35,000. The agreement is funded, in part, through productivity enhancements and other measurable savings.  This settlement establishes the parameters for this round of bargaining with the uniformed services.

“This is a great example of a union coming to the table and making a good faith effort to reach an agreement,” said Mayor Bloomberg. “By working together the City and the UFA have provided for raises for union members. We want to give equitable wage increases to all City employees. I am pleased this contract does that in an especially important area, the pay for rookie Firefighters.” Read more at nyc.gov.

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Did You Know?    
 
 
Annuity tax-free exchanges, known as 1035 exchanges
Section 1035 of the U.S. tax code allows you to exchange an existing variable annuity contract for a new annuity contract without paying any tax on the income and investment gains in your current variable annuity account. These tax-free exchanges, known as 1035 exchanges, can be useful if another annuity has features that you prefer, such as a larger death benefit, different annuity payout options, or a wider selection of investment choices.

 


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Latest news about Annuity cases in North Carolina and nationwide:

Former Insurance Broker Sentenced For Fraud And Money Laundering
A Hanson man was sentenced yesterday in federal court for defrauding a number of individuals who believed that they were purchasing annuity policie...
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Railroad Retirement Annuity Estimates to be Available Online
The U.S. Railroad Retirement Board announced that railroad employees can now get estimates of their future annuities over the Internet.Em...
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Department of Employee Trust Funds Announces Annuity Dividend and Variable Adjustment for Retirees
MADISON Eric Stanchfield, Secretary of the Department of Employee Trust Funds (ETF), announced the annual post-retirement adjustments affecting ret...
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Annuity Lawyers.com Terms

 


Today's Terms

OFEGLI

Definition:
The Office of Federal Employees' Group Life Insurance, which makes payments to beneficiaries under the policy. OFEGLI is not a Federal agency. It is staffed by employees of the contracted life insurance carrier.

Designation of Beneficiary

Definition:
Notice, signed by you and witnessed by two persons, indicating the person(s) you want to receive your life insurance benefits. The form generally used for life insurance designations is the Designation of Beneficiary form (SF 2823).

Accidental Dismemberment

Definition:
Bodily injuries sustained solely through violent, external and accidental means, and as a direct result of the bodily injuries, independently of all other causes, and within 90 days afterwards, you lose your limb or eyesight.

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Annuity Law Resources

 


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Annuity Law Hot Topics

 
Topics Related to Annuity:

  • Client Manipulation
  • Providing False Information
  • Lying to Auditors
  • Unauthorized Transactions
  • Breach of Fiduciary Duty
  • Broker Embezzlement

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North Carolina Annuity-Law Attorney

 
If you live in the following cities and need an Annuity-Law attorney you should contact our Annuity-Law Attorney as soon as possible:

  • Apex
  • Asheboro
  • Asheville
  • Burlington
  • Cary
  • Chapel Hill
  • Charlotte
  • Clayton
  • Concord
  • Durham
  • Elizabeth City
  • Fayetteville
  • Fort Bragg
  • Garner
  • Gastonia
  • Goldsboro
  • Greensboro
  • Greenville
  • Henderson
  • Hickory
  • High Point
  • Jacksonville
  • Kernersville
  • Lenoir
  • Lexington
  • Lincolnton
  • Lumberton
  • Matthews
  • Monroe
  • Morganton
  • Mount Airy
  • Raeford
  • Raleigh
  • Reidsville
  • Sanford
  • Statesville
  • Thomasville
  • Wake Forest
  • Wilmington
  • Wilson
  • Winston Salem


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