The Bowdoin Group and Bowdoin Technology Partners
We are pleased to spotlight The Bowdoin Group and Bowdoin Technology Partners in our Fall Newsletter. They have been a valued client since their inception in 1994 and we appreciate the trust they have placed in our organization!
Both companies were awarded Inavero’s 2015 Best of Staffing Satisfaction Awards for achieving satisfaction ratings in the top 2% of all companies in the US and Canada. They were also named one of the fastest growing private companies in Massachusetts by the Boston Business Journal.
Since 1994, Bowdoin has placed thousands of professionals throughout North America and the United Kingdom. They are committed to delivering highly customized recruiting solutions to leading and innovative companies while providing fulfilling careers to their employees and candidates through their relentless commitment to excellence.
We would like to congratulate The Bowdoin Group and Bowdoin Technology Partners for their 2015 awards! They are a pleasure to work with and we wish them continued success!
Three Phases of Money
Presented by Doug Greene
Each client, whether they realize it or not, go through three phases of money in their lifetime. It’s important to educate them as to how their money actually works.
Beginning right out of college with their first job starts The Accumulation Phase. In this phase, they will run through a lot of life experiences (marriage, first home purchase, children, etc.). It is important for them to grow their money to the most they possibly can in the most efficient way possible. There are number of different ways to do this. Just ask Google. It’s our goal to educate them to all of these options without opinion, attitude, or sales hype. Every product has its positives & negatives. It’s not the product that matters, it’s the product plus the strategy that matters.
The first day of retirement is when The Distribution Phase starts. This is where the rubber meets the road. Everything changes once those paychecks stop coming in every week. The goal of this phase is to turn on as much income as possible from all the assets they have accumulated. At the end of the day it doesn’t matter how big the account balance is for these folks. All that matters is how much income can those accounts generate. Again, it’s not the product (401k, IRA, SEP, NQ Account, etc.) but the product plus the strategy that matters!
After retirement (I think we all know what that means!), The Preservation Phase comes into play. How do we pass all of our remaining assets, property, life insurance, etc. in the most efficient manner as possible? How do we get them to our heirs, charities, endowments? This phase needs to be addressed throughout the other phases of money as well. It is important to make sure the least amount as possible goes to other parties that have interest in their wealth (IRS, probate, creditors). One more time, it’s not the product (CRUT, ILIT, SLAT, etc.) that matters. It’s how everything works in lockstep together.
Executive Order # 13706 – Paid Sick Leave
Presented by Al Corvigno
President Obama signed Executive Order 13706 on September 7, 2015. It requires that certain federal contractors provide employees with up to seven days of paid sick leave per year. The proposed effective date of the order is January 1, 2017.
Under this Executive Order, federal contractors are required to provide affected employees with at least one hour of paid sick leave for every 30 hours worked and employees must be permitted to to accrue no less than seven days of sick leave each year.
The Order directs the Secretary of Labor to issue regulations by the end of September in 2016. Those regulations will define more clearly the terms used in the Order and provide guidance to contractors.
There are certainly many issues that will need to be resolved and more discussions regarding this Order prior to the release of any regulations.
Click here to read Executive Order 13706 in its entirety.