Monday, March 16, 2009

Sunshine Week 2009 Survey Of State Government Information Online. Sunshine Week 2009 Survey Of State Government Information Online The Sunshine Week 2009 Survey of State Government Information online found that while more and more government records are being posted online, some of the most important information is being left offline. And in some cases governments are charging taxpayers to access records that they already paid for, such as death certificates. Teams of surveyors scanned government Web sites in every U.S. state to look for 20 different kinds of public records. The results were released today at the start of Sunshine Week 2009, which runs March 15-21. The study was developed by Sunshine Week, the American Society of Newspaper Editors' Freedom of Information Committee, the National Freedom of Information Coalition, and the Society of Professional Journalists' FOI Committee. [Free Government Information (FGI) blogs] 11:59:06 AM     Michigan Education Trust Still Solvent Despite Recession. Robert Bowman, board president of the Michigan Education Trust, said no one can sugarcoat that Michigan's state-run prepaid college tuition program saw losses after the widespread fallout on Wall Street. But Bowman stressed that parents and grandparents who invested their money in the MET plan still will be able to see tuition bills paid. "They're not in trouble with paying out their cash," Bowman said. After the bloodbath on Wall Street and the sizable jump in college tuition costs, some states are falling short when it comes to their prepaid tuition plans. No plan has failed to pay tuition this year, but some are hurting. Things are OK, for now Based on the latest available data, MET would be able to pay benefits through 2020, even if no new contracts were issued after Sept. 30, 2008. Contracts continue to be issued, so new money is being invested in the plan. MET has what's known as an 82% funding ratio, according to latest figures from the Michigan Treasury Department, which oversees MET. What's concerning is that the 82% ratio is based on data as of Sept. 30, 2008. So it does not reflect the worst fallout in stock prices in late 2008 and early 2009. The funding ratio is calculated when the actuary conducts his or her evaluation, which is only done as of Sept. 30 every year. The ratio is down from the 90% funding ratio as of Sept. 30, 2005. MET director Robin Lott stressed that the Michigan program remains actuarially sound. An actuarial review of the plan is conducted each year. If the plan is determined to be unsound at some point, the MET board of directors could increase future prices, limit or freeze enrollment, or ask the Legislature for state-appropriated funds. If the outlook is dire, the board could take an extreme step to liquidate the plan. Money would be returned to participants and could be less than the prepaid tuition amount if the board took this unusual step. The state notes that those who had purchased contracts would get at least their initial investments back. However, MET is not facing such a situation now. "We've never defaulted on a MET contract," Lott said. Tens of thousands of those who have MET contracts are somewhere between newborn and early elementary school. They're not heading to college next year. There's a 15-year to 20-year payout horizon. In the meantime, the stock market could recover and Michigan's state colleges could put a cap on tuition hikes. Patient investment managers MET debuted in 1988. Then-Gov. James Blanchard was MET's creator; Bowman was the chief architect. Bowman, Michigan's treasurer from 1983 to 1991, said one advantage of the Michigan system is that it prices MET contracts to reflect tuition costs at the time the contract is purchased. Families who buy a contract are basically freezing today's college tuition prices at Michigan's public universities and colleges. While the stock market remains challenging, Bowman said the Michigan treasury office has a group of patient, well-experienced investors who manage the MET assets. "They are like the old National League," said Bowman, who now is president and CEO of Major League Baseball Advanced Media. "They hit a lot of singles and a lot of doubles. And they never swing for the fences." About the MET program The Michigan Education Trust has sold about 89,000 contracts to more than 79,284 students. Contract prices vary based on the age of the beneficiary. A one-year lump-sum full-benefits contract would cost $11,112 if bought now through Aug. 31 for a child who ranges in age from a newborn through a student attending the ninth grade. The full-benefits plan would cover full in-state tuition and mandatory fees at any Michigan public university or Michigan public community college. If the full-benefits plan is for one year, that plan would cover 30 credit hours, not including room and board. Students would also receive refund payments based on the weighted average tuition of all Michigan public 4-year universities if they go to an in-state private college and would receive payments based on average tuition if they choose to attend college out of state. MET contracts also can be transferred to other eligible family members. For more information, see: www.SetwithMET.com. Or call 800-638-4543, 8 a.m. to 5 p.m. weekdays. For the full article, see Susan Tompor, "MET remains sound, officials say", Detroit Free Press, March 15, 2009. For another article, see "MET fund pinched but doing well, state says Michigan's prepaid college plan is sound, unlike 18 other states'", Lansing State Journal, March 12, 2009. [Red Tape Blog] 11:58:28 AM     Simple Tips to Reduce Your Household Expenses [Saving Money] . Looking to squeeze a little extra cash out of unexpected places without having to resort to a second (or third!) job to come up with the green? Use these tips to save around the house. Photo by Lee Coursey. Over at the blog of This Old House, the venerable old DIYer magazine, they've assembled a list of 50 money saving tips. The tips cover a broad spectrum of tips, ranging from things you can see immediate benefit from like installing your own water filter to long term planning like planting trees to shade your home. Some of the tips definitely fall into the "Oh! I hadn't thought of that!" category, like this one regarding firewood: Buy firewood in the spring when it's cheap. Logs will dry out and be ready to burn by the time snowflakes fall. Cost: Time stacking wood in a dry spot outdoors so that it can season in the open air. Savings: Up to $100 per cord. Bonus: In the off-season, you won't run into any shortages of your favorite hardwood. There are, however, a few in the list that may not sit well with the people you share your home with—like the rebellion-inducing savings of a shower timer: Install a shower timer in the kids' bathroom. The battery-operated device limits showers to 5, 8, or 11 minutes. Cost: $115 at Shower Manager. (You can install it yourself.) Savings: $200 or more per year. Bonus: Speeding your kids' morning routines eases the struggle to ensure they (a) eat breakfast, (b) brush their teeth, and (c) make it to the bus on time. The majority of the projects on the list could be completed in a few hours on a Saturday, and save a lot over the course of a year when stacked together. If there is a simple house change-up they missed, make sure to share it in the comments below for our thrifty readers. 50 Nifty Tricks for Big DIY Savings [via Get Rich Slowly] [Lifehacker] 11:57:46 AM     Poison Help: Just a Phone Call Away Did you know that unintentional poisoning causes more deaths than car accidents and house fires in the United States? And that the death rate from poisoning has been rising in this country in recent years? This is National Poison Prevention Week:and an important part of poison prevention can be found in a toll free phone call to Poison Help, a free service of the U.S. Department of Health and Human Services that's available 24 hours a day, seven days a week. Poison Help:1-800-222-1222:automatically forwards you to a poison control center in your area, where you can talk with an expert in poison emergencies. Call Poison Help, for example, if you took a medicine incorrectly, used a strong cleaning product without gloves, ate food that was left out too long, or were bitten by a spider. Also call if you think your child swallowed a poison such as a cosmetic or personal care product, a cleaning substance, or a part of a plant. Don't wait for signs of poisoning, the experts warn:they'll help with any possible poisoning, even if you aren't sure it's occurred. They say that often your problem can be solved on the phone. (If a victim isn't breathing, call 911 first.) The poison expert also might call back to check on you. If you need a doctor or ambulance, the poison expert will tell you right away, and he or she may also call your local hospital to give treatment information ahead of your arrival. Poison Help recommends that you keep its number near your phone (call the number to receive free magnets), or enter the number into speed dial. It also offers tips at its website on preventing poisoning, and how to help in a poisoning emergency. Have you ever had a poisoning emergency, or called Poison Help? - Stephanie [Gov Gab: Your U.S. Government Blog] 11:57:07 AM

© Copyright 2009 Jocelyn Shaw. Last update: 4/1/2009; 2:33:34 PM. Photo curtesy of Marjorie O'Brien