Pet Peeves

Times may be tough, but it looks like Fido and Fluffy have nothing to worry about.
A national pet owner survey claims that if financial issues caused pet owners to curtail their monthly expenses they are far more likely to cut back on luxury items, electronics, perhaps even groceries and household goods, rather than pull back on care or supplies for their pets.
The online survey of 665 pet owners (including 602 who have a dog or cat) was conducted in late December by Fleishman-Hillard International Communications. The Fleishman-Hillard survey found that most pet owners consider their pets to be members of their family, like a child, sister, or brother.
However, if things get too bad, survey respondents said they might scale back on pet fashions, toys – and trips to pet care professionals like pet walkers, sitters, and groomers. And, as with health care issues generally, the study respondents said they may cut their spending on veterinary visits and preventative medications.
This survey was conducted using a consumer panel provided by Greenfield Online, from December 20-23, 2007. Interviews were completed by 1,048 panel members 18 years of age or older living in private households in the continental United States. Of those interviewed, 665 were pet owners; 383 people were not eligible to participate in the survey because they did not own a pet.

Oppenheimer Packages Auto Plan Features

OppenheimerFunds, Inc. has enhanced its Pinnacle and Record(k)eeper Pro platforms for small and mid-sized companies with a tool to implement automatic plan feature provisions of the Pension Protection Act (PPA).

The new service, Tru(k)ourse, packages three features of the PPA – automatic enrollment, automatic deferral increases, and qualified default investment alternative (QDIA) fiduciary relief – in an easy to implement solution.

Tru(k)ourse offers the following capabilities:

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  • Automatic enrollment of eligible employees into the plan at a minimum deferral rate,
  • Increasing of participants’ deferral rates annually until they reach a maximum rate, and
  • Investing of plan contributions in the designated OppenheimerFunds QDIA if a participant fails to select his or her own plan investments, including the ability to automatically select funds for participants based on their ages.

“Consistent with our “Plans that Work’ approach, we believe it is crucial to be forward looking when it comes to evaluating and providing fiduciary tools that will help plan sponsors manage their obligations more efficiently,” said Rick Fuerman, VP, OppenheimerFunds Retirement Services, in a news release.

More information about OppenheimerFunds can be found at their Web site: www.oppenheimerfunds.com.

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