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The interbiznet Bugler
interbiznet presents The Bugler
July 31, 2007
Work, The New Retirement
The is a lot of press these days about the way that Retirement is being redefined. The trends are echoing throughout the world.

The wave of baby-boomers entering retirement is going to completely reposition and reinterpret all of our notions about age, financial need, and all of the other aspects associated with being over 50. As this enormous cohort (76 Million) moves into its prime living years, we'll get to see stories about the realities of age. They'll be nothing like our stereotypes.  (Read More)

From John Sumser: A presentation from John Sumser, Recruiting Is A Conversation is now available for download.

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Reveille and Hyperbole:
Candidate Manager, one of the fastest-growing talent management solution providers, announced that Dofasco Inc., one of the largest steel companies in North America, has selected Candidate Manager's talent management solution to manage their recruiting process.

eQuest, the global leader in job posting and Internet media management services, announced the release of eQuest Advantage(TM) allowing customers to post jobs through their existing Applicant Tracking Systems without the need for a direct contract with any job board. Fees for job postings can be paid online with any major credit card. The system is designed for quick posting without even having to contact eQuest.

Workstream Inc. (NASDAQ: WSTM), a leading provider of on-demand compensation, performance and talent management solutions, announced its fourth quarter and fiscal 2007 year-end results for the period ended May 31, 2007. All figures are in U.S. dollars.

PayScale scores $8.8 million for salary service. More than 8 million people have input personal salary information on the PayScale Web site, giving the Seattle startup an arsenal of compensation data that it can sell to eager HR managers, recruiters and others who are trying to figure out how much people should be paid.

Knowledge Infusion, the recognized authority on human capital management and talent management consulting, announced continued momentum and triple digit growth for their unique services aimed at driving true business results and maximizing the strategic value of HR. New clients include business leaders in innovation, revenue, and workplace best practices such as Adesa, Cargill, Children's Healthcare of Atlanta, El Paso Corporation, H-E-B, Lincoln Financial Group, MetLife, Nordstrom, Payless ShoeSource, and VF Corporation.

Deep Release:
Pacific Life Helps Investors Measure Retirement Risk

Pacific Life Insurance Company has launched a new online calculator as part of its Destination IndependenceSM campaign to educate investors about issues they face in retirement. Offered exclusively by Pacific Life, the Retirement RisQuotient™ Calculator gauges the likelihood an investor will have adequate resources to meet retirement expenses. Developed with Moshe A. Milevsky, Ph.D., Associate Professor of Finance, York University, Toronto, Canada and President of QWeMA Group the calculator is the first of its kind to consider an investor's longevity, expectations for inflation and investment risk at the time of retirement to estimate the probability that their income plan is sustainable for the rest of their life. In a recent article, Dr. Milevsky writes, "One of the achievements I'm most proud of is a one-line formula that I developed and then published a few years ago with some colleagues of mine at York University."

According to Kathleen McWard, CFP®, vice president, marketing, Annuities and Mutual Funds Division, "The Retirement RisQuotient™ is mathematically robust yet easy to use. The results can help financial professionals immediately determine if changes are necessary to help assure that their clients have enough retirement income and that it will last a lifetime." Financial professionals and their clients can use this powerful tool to create a strategy for saving and investing more or to reposition assets to achieve future goals if approaching or already in retirement.

The Retirement RisQuotientTM Calculator is licensed from QWeMA Group ( and is implemented using WebCalcs® software from Torrid Technologies in Atlanta. For more information, visit Torrid Technologies' Web site:

Founded in 1868, Pacific Life provides life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans.1 Pacific Life counts more than half of the 50 largest U.S. companies as clients2 and is a member of the Insurance Marketplace Standards Association (IMSA), whose membership promotes high ethical standards for the sale of individual life insurance and annuities.

    1 Product features and availability vary by state.
    2 Data compiled by Pacific Life using the FORTUNE 500® list as of April 2007.
Variable insurance products issued by Pacific Life Insurance Company and mutual funds issued by Pacific Life Funds are available through licensed third party broker-dealers and distributed by Pacific Select Distributors, Inc. (member NASD & SIPC), a subsidiary of Pacific Life.

Deeper Release:
Baby boomers often daunted by saving for retirement

By 2035, nearly 70 million people will be age 65 or older, according to information from the U.S. Census Bureau. That means that in the next 25-plus years, millions of people will be looking to finance their lives in retirement with income that will need to last 30 years or more.

The problem is that many baby boomers are often so daunted by the task of saving for retirement that they've done little to prepare. The average total savings and investments for one in three workers (34 percent) ages 45 to 54 is under $25,000, according to the 2007 Retirement Confidence Survey from the Employee Benefits Research Institute (EBRI). For workers ages 55 and older, this percentage remains nearly as high, at 31 percent.

In other cases, the problem may be overconfidence, as some count on employer-sponsored retirement benefits that may not be there when they retire. According to the same EBRI survey, only 41 percent of workers indicate they or their spouses are currently covered by a defined benefit pension plan, yet 62 percent are expecting pension income in retirement. In addition, many are counting on employer-provided retiree health care benefits and Social Security income that also might not materialize.

Today, many employers no longer offer pensions, placing most of the responsibility to save for retirement on the shoulders of individuals accustomed to living for the moment. The cost of living continues to rise, compounded by the likelihood of a longer life span. Plus, like everyone else, boomers have endured hard lessons in stock-market volatility from earlier in the decade.

In light of these complexities, it's easy to understand why many individuals prefer to avoid the subject when it comes to preparing for retirement.

Yet, while some boomers may be reluctant to face the music, others are hungry for a voice of reason and a plan of action. The EBRI survey noted that more people found the advice of a financial professional most helpful when compared with all other sources of education material about retirement.

In order to take charge of their future, boomers need to define their dreams and goals, and establish a strategy to achieve the retirement they envision.

Along with creating a retirement-savings strategy, today's boomers need to understand how a volatile market in the years before and after retirement can affect their savings. In addition, how much and how often income is withdrawn from their retirement portfolio can drastically affect how long their nest egg will last. Because life expectancies have increased, boomers need to plan for 30 years or more in retirement, so income and withdrawal strategies are crucial.

In light of these obstacles, boomers need to consider how investment strategies can work in their favor to help overcome retirement challenges. When appropriate, variable annuities may help take the place of disappearing employer-sponsored pensions, offering principal protection and guaranteed income in retirement. They also can help investors take advantage of market growth, keep pace with inflation and even protect against down markets.

Variable annuities are retirement investment products that give investors access to a range of investment choices and fixed account options which have the potential to provide earnings on a tax-deferred basis until the owner makes withdrawals. Unlike any other investment product, variable annuities offer guarantees with the opportunity to participate in the market.

While boomers must confront many challenges their parents didn't face in preparing for retirement, they have their own unique dreams and ideas about their life after work. Today, they can take charge of their retirement future with new products designed to help meet retirement challenges.

Derrick Kinney is a financial adviser with Ameriprise Financial and specializes in retirement and investment planning. He can be reached at 817-419-6001 or at

Fort Worth Business Press Guide to Top Specialty Boards
Where Top Candidates Seek Career Opportunites
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interbiznet and present Boomers to Bust Age Bias? Baby Boomers Redefine Retirement

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