Products August 11, 2011

SunTrust Introducing Retirement Readiness Reports

SunTrust Banks added its new Retirement Readiness reports to its institutional 401(k) platform, which aim to help employers evaluate how prepared their employees are for retirement.
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The reports examine the effectiveness of employee retirement plans; looking at whether sufficient savings have been accumulated to produce an annual income stream that provides “at or near” the same level of living as before retirement. 

Factors such as retirement age, current balance, average number of years in retirement, and a pre-determined income replacement ratio are used when determining the plan’s retirement readiness. SunTrust says these results can help employers motivate employees to consider making changes to how, and likely how much, they save for retirement. 

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“We are confident the Retirement Readiness reports and our consultations with clients will help us develop and implement more customized plan designs, along with investment and employee education strategies, that will significantly improve a retirement plan’s outcomes for the company and its employees,” said Brenda Seliga, Senior Vice President, Employee Benefit Solutions.

Diversions August 11, 2011

“Nuclear” threat?

With over 750 million users, Facebook would have the third largest population if it were a country–and one group has plans to wipe it off the map.   
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Come November 5, 2011, life as we know may cease to exist.   

That is, if you “live” in Facebook.

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A well-established hackers’ group, known as “Anonymous,” has posted a video on Youtube, in which it claims to have plans to “kill Facebook” on November 5.  (The date was selected to coincide with Guy Fawkes Day in Great Britain, which commemorates Fawkes’ attempt to blow up British Parliament in 1605.)

Anonymous is referring to the planned attack as “Operation Facebook.” However, it is unclear how many members of the group are supporting the alleged plan.  One Anonymous member posted the following on Twitter last week: “#OpFacebook is being organised by some Anons. This does not necessarily mean that all of #Anonymous agrees with it.”

The Youtube message, recorded in a modulated voice, states: “If you are hactivist or a guy who just wants to protect the freedom of information then join the cause and kill Facebook for the sake of your own privacy… Everything you do on Facebook stays on Facebook regardless of your privacy settings, and deleting your account is impossible.”

“Think for a while, and prepare for a day that will go down in history,” the message continues.  “This is our world now. We exist without nationality, without religious bias. We have the right to not be surveilled, not be stalked, and not be used for profit. We have the right to not live as slaves.”

Whether the threat will be carried out remains to be seen. “We take every one of those threats seriously,” Facebook Chief Security Officer Joe Sullivan told CNBC this week. “We spare no expense.”

Prior attacks carried out by Anonymous have targeted such major corporations as Sony, Lockheed Martin, and Booz Allen Hamilton.

According to CNBC, Facebook has over 750 million users, one billion photos uploaded per day, over 30 billion pieces of daily content and over two trillion link clicks per day. The social utility blocks over 200 million potentially malicious links daily.

 

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