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Virginia’s State-Facilitated Private Retirement Program Scheduled to Launch in 2023

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Virginia’s State-Facilitated Private Retirement Program Scheduled to Launch in 2023


Virginia529

Virginia529 selects Vestwell to manage RetirePath Virginia

Richmond, Va, June 02, 2022 (GLOBE NEWSWIRE) — RetirePath Virginia will open by July 1, 2023. This system will present Virginians who don’t in any other case have entry to a office retirement financial savings plan the choice to avoid wasting a portion of their pay in a professionally managed IRA account. State laws directs Virginia529 to determine and oversee this system. Virginia529SM chosen Vestwell because the RetirePath Virginia program administrator and BlackRock because the funding supervisor.

“Nearly half of Virginia employees don’t have entry to a retirement financial savings plan by their employer,” mentioned Virginia529 CEO, Mary Morris. “RetirePath Virginia is an revolutionary resolution to handle the Commonwealth’s rising retirement financial savings divide. This system is a logical growth of the Virginia529 mission, boosting entry and selling monetary wellness to much more Virginians.”

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Underneath state laws, private-sector Virginia companies assembly sure standards — 25 or extra eligible staff, working for greater than two years, and never providing a retirement financial savings possibility — will probably be required to enroll in RetirePath Virginia. The pilot program is scheduled to start in early 2023 and phased enrollment will begin by July 1, 2023. RetirePath Virginia will probably be easy to manage and fee-free for employers. Worker participation will probably be voluntary.

Vestwell, in partnership with BNY Mellon, will present recordkeeping, custodial providers, and buyer help to taking part RetirePath Virginia employers and staff. Vestwell administers state-facilitated retirement financial savings packages in Oregon and Connecticut, in addition to packages in improvement for Maryland, Colorado and New Mexico.

“We’re proud to companion with Virginia529 to energy the revolutionary RetirePath Virginia program,” mentioned Aaron Schumm, Founder and CEO of Vestwell. “All People deserve an reasonably priced car to avoid wasting for his or her monetary future, and Virginia is bringing us one step nearer to closing the financial savings hole.”

“RetirePath Virginia is a necessary program to assist make financial savings extra accessible for all Virginians,” mentioned Douglas Magnolia, President of Vestwell. “We’re thrilled to companion with Virginia529 and supply a personalised financial savings expertise on our state-of-the-art platform whereas lowering the executive burden for the state and its small companies alike.”

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Funding supervisor BlackRock, one of many world’s main suppliers of funding, advisory and threat administration options, was chosen to be the first funding supervisor for the RetirePath Virginia program. BlackRock supplies funding providers for different Virginia529 packages.

Virginia529 is accountable for RetirePath Virginia program design, oversight and outreach actions. To help the company’s management and board, Virginia529 established a retirement program advisory committee with consultants in retirement plan design, funding administration, and enterprise.

Study extra about RetirePath Virginia and subscribe to updates at Virginia529.com/retire.

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About Virginia529 Faculty Financial savings Plan
Virginia529 makes schooling extra accessible and reasonably priced for households and people. With greater than $97 billion in belongings beneath administration and three million accounts as of March 31, 2022, Virginia529 is the biggest 529 plan obtainable. Two versatile, reasonably priced, tax-advantaged packages—Invest529SM and CollegeAmerica®—and early dedication scholarship program SOAR Virginia® help college students of any age in reaching their increased schooling objectives. For extra info on Virginia529’s faculty financial savings choices, go to Virginia529.com or name 1-888-567-0540 to acquire program supplies. These embody info on Virginia529 packages, funding goals, dangers, costs, bills and different necessary info; learn and contemplate them rigorously earlier than investing. All investments are topic to threat, together with the potential lack of the cash you make investments. Virginia529 encourages potential contributors to hunt the recommendation of knowledgeable regarding any monetary, tax or authorized implications associated to opening an account. For residents of states apart from Virginia: earlier than investing, it’s best to contemplate whether or not your or the beneficiary’s dwelling state affords any state tax or different state advantages resembling monetary support, scholarship funds, and protections from collectors which might be solely obtainable for investments in that state’s certified tuition program. ©2022 Virginia Faculty Financial savings Plan. All Rights Reserved.

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CONTACT: Sarah Pennington (804) 225-2692 spennington@able-now.com



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Virginia

President Biden declares major disaster for Virginia after Helene

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President Biden declares major disaster for Virginia after Helene


President Joe Biden has declared a major disaster in the Commonwealth of Virginia following the devastating and broad impacts brought on by Helene.

Biden has ordered that federal aid be used to supplement statewide and local recovery efforts in affected areas. This move will make federal funding available to affected individuals in the counties of Giles, Grayson, Smyth, Tazewell, Washington and Wythe and the independent City of Galax.

Assistance can include grants for temporary housing and home repairs, low-cost loans to cover uninsured property losses, and other programs to help individuals and business owners recover from the effects of the disaster.

In addition to this, federal funding will also be available to state and eligible local governments and certain private nonprofit organizations for emergency work in the following localities:

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  • Bedford County

  • Bland County

  • Buchanan County

  • Carroll County

  • Craig County

  • Dickenson County

  • Giles County

  • Grayson County

  • Montgomery County

  • Pittsylvania County

  • Pulaski County

  • Russell County

  • Scott County

  • Smyth County

  • Tazewell County

  • Washington County

  • Wise County

  • Wythe County

  • Bristol

  • Covington

  • Danville

  • Galax

  • Norton

  • Radford

Residents and business owners who sustained losses in the designated areas can begin applying for assistance at www.DisasterAssistance.gov, or by calling 800-621-FEMA (3362), or by using the FEMA App. Anyone using a relay service, such as video relay service (VRS), captioned telephone service or others, can give FEMA the number for that service.

Copyright 2024 by WSLS 10 – All rights reserved.



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Status for Daniels and Green still uncertain for this week against Virginia Tech; Reuben done for season

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Status for Daniels and Green still uncertain for this week against Virginia Tech; Reuben done for season


Playing in a hard fought game against Clemson that saw the Stanford Cardinal (2-2, 1-1 ACC) fly home with the 40-14 loss, a couple players will go into this week against Virginia Tech with uncertain statuses as quarterback Ashton Daniels and defensive back Jay Green went down in the game with injuries.

Green, who has been playing nickel cornerback since joining the Cardinal, suffered a lower body injury in the first quarter of the loss and is questionable this week against Virginia Tech, with head coach Troy Taylor saying during media availability that while the team is hopeful that Green can play, they are also preparing for the possibility of him being out, and are confident in who they have to fill the void.

“We’ve got a number of guys that can do it,” Taylor said. “Aaron Morris is a young man that has started to play a lot of football and has done a good job and then we’ve got some younger freshmen that can also contribute. And then Collin Wright always has the ability to play nickel, which he did on Saturday night. He played nickel most of the evening after Jay went out.”

As for Daniels, the injury that he sustained in the fourth quarter was to his lower body and while officially listed as day-to-day, he will have a chance to be available to start this week against the Hokies. However, if he is unable to play, it will be Justin Lamson who will get the call to start with Myles Jackson and Charlie Mirer as the next ones in line.

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“He’s got a chance to play,” Taylor said of Daniels’ status. “It’ll be just how much he improves throughout the week, but there’s a definite chance he can play.”

If Lamson does start, Taylor mentioned that he does not expect a big change to the game plan, as Lamson’s experience with the scheme and the first team offense will have him ready to go if need be.

“He gets half the reps in practice each day,” Taylor said. “So, we’ve got a lot of confidence in him, he knows the system well so it will not affect play calling at all.”

The Cardinal have also confirmed that wide receiver Mudia Reuben, who was poised for a big junior season, is done for the year after getting injured during the Syracuse game and is now eligible for a medical redshirt.

“I haven’t had a chance to talk to him about that,” Taylor said. “Obviously, he was really coming along as a player, he definitely has that option. He wants to get through the surgery and all that but, he’s got a big upside and he’s an awesome, awesome guy so if that’s something he wants to do, then I’m in full support of that.”

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While Stanford awaits the status of Green and Daniels, it will also begin getting locked in and focused on preparations for a big game this week, where the team will return home for the first time in three weeks to take on the Virginia Tech Hokies. Kickoff for the game will be at 12:30 p.m. (PT) and will be broadcast live on the ACC Network.



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Consumers Energy sending lineworkers to Virginia after Hurricane Helene

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Consumers Energy sending lineworkers to Virginia after Hurricane Helene


JACKSON, Mich. (WILX) – Consumers Energy will send 60 workers to Virginia Wednesday to assist in the repair efforts after Hurricane Helene.

About 48 lineworkers in 15 three-person crews, three individual service lineworkers, field leaders, and Consumers’ equipment will be assisting in restoring power after Helene’s historic damage. The workers may remain out of state for up to two weeks.

As of Tuesday afternoon, nearly 65,000 homes and businesses in Virginia were still without power.

“This hurricane has caused catastrophic damage that has leveled entire communities. Consumers Energy hopes we can contribute and make a difference for so many people in need,” said Chris Laird, Consumers Energy’s vice president of electric operations in a statement.

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“Our lineworkers have trained for conditions like these, and they will work around the clock to help get the lights back on.”

Over 1.5 million people in five states had their power affected by the Hurricane.

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