ST. JOSEPH -- Yesterday, Loman-Ray Insurance Group announced the company will open a new office in St. Joseph. The company, which currently has 12 offices in Illinois, will be located at 104 N. Main in St. Joseph.
An independent insurance company, Loman-Ray was started in 1981 by Lyle Loman and his wife Sue. The husband-wife team, who were also teachers, discovered selling insurance was financially rewarding beyond their expectations and purchased a small property/casualty firm in 1981. The company has expanded to locations in Atwood, Broadlands, Cissna Park, Clifton, Danville, Hoopeston, Tolono, Sullivan, and Villa Grove.
Loman-Ray, which expects to open the St. Joseph office this summer, specializes in auto, home, commercial, group and individual health, and agribusiness insurance coverage.
Loman-Ray Insurance to add new location in St. Joseph
ST. JOSEPH -- Yesterday, Loman-Ray Insurance Group announced the company will open a new office in St. Joseph. The company, which currently has 12 offices in Illinois, will be located at 104 N. Main in St. Joseph.
An independent insurance company, Loman-Ray was started in 1981 by Lyle Loman and his wife Sue. The husband-wife team, who were also teachers, discovered selling insurance was financially rewarding beyond their expectations and purchased a small property/casualty firm in 1981. The company has expanded to locations in Atwood, Broadlands, Cissna Park, Clifton, Danville, Hoopeston, Tolono, Sullivan, and Villa Grove.
Loman-Ray, which expects to open the St. Joseph office this summer, specializes in auto, home, commercial, group and individual health, and agribusiness insurance coverage.
Urbana Board of Education to hold special meeting on Tuesday
URBANA -- The Urbana District #116 Board of Education will hold a special meeting in the Board Room at 205 North Race Street in Urbana on Tuesday, March 29, at 7:30pm. The agenda includes four key topics for discussion with three related to the school's mask policy and Covid-19 mitigation.
The Board will hear a presentation from Dr. Ivory-Tatum, who will revisit previous discussions on the masking and metrics for the district. An updated or modified return-to-school plan will also be discussed.
The meeting will be live-streamed on YouTube here.
Members of the public can participate during the Public Comment portion of the meeting in person or by emailing their public comments to publiccomment@usd116.org by 7:00 p.m. on Tuesday, March 29, 2022. A district administrator or board member will read comments submitted by email.
Meeting attendees are required to wear a mask. The Urbana School District currently follows a universal indoor masking policy. All students, teachers, staff, and visitors are required to comply with the policy, regardless of their vaccination status.
If you forget to bring a mask, lose it on your way into the building, or do not have one, a mask will be provided and must be worn during the meeting.
Bill to attract and retain volunteer firefighters and EMS personnel stalls in Illinois
Springfield —- Last week, fire officials and state legislators met at the Illinois state capital rallying for the approval of a bill designed to help alleviate the shortage of volunteer firefighters and EMS workers in the state.
Senate Bill 3027, which would provide a $500 state income tax credit for volunteer emergency workers who earn less than $10,000 in stipends for their service to the fire department, passed the Senate unanimously with 51 of the possible 58 votes on February 23. The tax credit would apply to EMS personnel who have worked for a fire department or fire protection district for at least nine months.
Unfortunately, the vote was essentially put on hold by the house after being assigned to the Revenue and Finance Committee on March 7. The proposed legislation is similar to those in New York, Iowa, and Maryland.
It is estimated the state would lose $20 million to $22 million in lost tax revenue annually if in enacted. Some lawmakers say it is a small price to pay to keep Illinoians safe.
"First responders are always at the forefront of each incident or disaster," said State Senator Meg Loughran Cappel (D-Shorewood). "The past couple of years have been very challenging for these individuals and it’s my hope that creating a tax credit will show our support to the people who keep our communities safe and incentivize more people to join our departments,"
Rep. Tom Bennett (R-Gibson City) added, "With the critical shortage of volunteers and the amount of taxpayer dollars they save us, we can’t afford NOT to pass this legislation, which will help encourage recruitment and retention who serve our communities selflessly."
Highland Fire Chief Kerry Federer said the shortage is a public safety crisis. The number of emergency and fire calls to departments around the state has tripled.
"This reflects a nationwide shortage of volunteers, contributing factors which include: the aging population of volunteers, increased training requirements, and newer policies, which prohibit full-time firefighters from volunteering in their own communities," Federer said in a statement from the Illinois Firefighters Association.
Senator Neil Anderson (R-Rock Island), who is also a fireman in the Quad Cities, said volunteer first-responders deserve the financial support from the state.
"People’s lives have changed, and volunteer department numbers are down," Anderson said. "If we can find a way to attract more volunteer emergency workers with a little incentive, it is something this small that could play a big role in saving someone’s home or their livelihoods. My hope is this bill will help increase and maintain retention rates for volunteer departments who already see greater challenges because of less resources."
Seven senators - one Republican and six Democrats - did not cast a vote after the third reading of the bill.
The legislation also removes provisions concerning volunteer fire protection associations and updates the definition of "volunteer emergency worker". Lawmakers behind the measure hope the legislation is approved before the legislature adjourns on April 8.
Senate Bill 3027, which would provide a $500 state income tax credit for volunteer emergency workers who earn less than $10,000 in stipends for their service to the fire department, passed the Senate unanimously with 51 of the possible 58 votes on February 23. The tax credit would apply to EMS personnel who have worked for a fire department or fire protection district for at least nine months.
Unfortunately, the vote was essentially put on hold by the house after being assigned to the Revenue and Finance Committee on March 7. The proposed legislation is similar to those in New York, Iowa, and Maryland.
It is estimated the state would lose $20 million to $22 million in lost tax revenue annually if in enacted. Some lawmakers say it is a small price to pay to keep Illinoians safe.
"First responders are always at the forefront of each incident or disaster," said State Senator Meg Loughran Cappel (D-Shorewood). "The past couple of years have been very challenging for these individuals and it’s my hope that creating a tax credit will show our support to the people who keep our communities safe and incentivize more people to join our departments,"
Rep. Tom Bennett (R-Gibson City) added, "With the critical shortage of volunteers and the amount of taxpayer dollars they save us, we can’t afford NOT to pass this legislation, which will help encourage recruitment and retention who serve our communities selflessly."
Highland Fire Chief Kerry Federer said the shortage is a public safety crisis. The number of emergency and fire calls to departments around the state has tripled.
"This reflects a nationwide shortage of volunteers, contributing factors which include: the aging population of volunteers, increased training requirements, and newer policies, which prohibit full-time firefighters from volunteering in their own communities," Federer said in a statement from the Illinois Firefighters Association.
Senator Neil Anderson (R-Rock Island), who is also a fireman in the Quad Cities, said volunteer first-responders deserve the financial support from the state.
"People’s lives have changed, and volunteer department numbers are down," Anderson said. "If we can find a way to attract more volunteer emergency workers with a little incentive, it is something this small that could play a big role in saving someone’s home or their livelihoods. My hope is this bill will help increase and maintain retention rates for volunteer departments who already see greater challenges because of less resources."
Seven senators - one Republican and six Democrats - did not cast a vote after the third reading of the bill.
The legislation also removes provisions concerning volunteer fire protection associations and updates the definition of "volunteer emergency worker". Lawmakers behind the measure hope the legislation is approved before the legislature adjourns on April 8.
Sound off: Do you think lawmakers should pass this bill? Tell us in the comment section below why they should.
ViewPoint | A case for a mixed-method fix to the US economy
Anyone entering the labor market or buying cars or property this year or next will be highly affected by inflation policies.
Throughout history, sometimes the Federal Reserve, or "Fed," has altered the federal funds rate in the same direction, up or down, over lengthy eras. The Fed has also often left interest rates constant.
An example of the first was raising them from approximately 1977-1980, or cutting them from 1968-1971. An example of the second was over the Great Recession (2010-2015) - which held near 0%. Predictability gives firms expectations, causing smoother shifts in supply and demand without smaller iterations.
However, keeping rates lengthily at the same level can lead to financial instability, from: "chasing higher yield;" savings and investments imbalances; or, from larger policy changes once “shocks” arise. With the pandemic “shock,” political-economic turbulence might still be ahead, and more inflation. The 1920’s economist Irving Fisher described inflation as butter (money) spreading too far over bread (goods).
Inflation today has several culprits: monetary policies of central banks; international conflict; fiscal policies of spending bountiful government money, much of it deficit-financed; labor shortages from workers fearing the virus; and online-bought goods causing trouble coordinating ships or truck entries into ports.
The Fed, while independent, must still align itself with President Biden’s policies, which called for two infrastructure bills. With the larger bill, even moderates have to compromise, and the newly-convoluted idea that lawmakers do not have to reveal their stances makes politics more dyspeptic.
The wealth tax (on unrealized capital gains) to pay for the bill may have been unconstitutional or could have shifted investments overseas. But, raising the top income bracket was rejected, and raising the payroll tax on upper-earners was not even considered. Spending proposals, such as “free” community college, or even scholarships, or my own proposed idea for an ice-breaker vessel for the Arctic’s infrastructure, were rejected ad-hoc in behind-the-scenes negotiations. Hyper-politicized parliamentary rules took precedent over actually voting on amendments.
Undernoted in this debate, and absent from modern economic texts, is the 1960’s "balanced budget theorem," promulgated by economist Paul Samuelson. Increasing taxes and spending by similar amounts can theoretically increase short-term growth, though never attempted, but permitting an inflation focus. Yet, bills sometimes die, and Mr. Biden has not even addressed healthcare yet.
Fortunately, last year’s annual end-of-year budget crises were averted. Perhaps the Republicans saw no need to add “insult to injury,” since inflation hit. As Fisher described, perhaps butter melts faster than bread expands, in our analogy, because money is more liquid than goods, which take time to produce.
Henceforth, Mr. Powell may have lowered rates too slowly before, too quickly during, and to be seen too delayed after the pandemic. Some economists have said these were the Fed’s worst historical mistakes.
With both inflation and held-back pandemic growth presenting challenges, it might benefit the Fed to follow a third course, of short-term changing rates incrementally, from meeting-to-meeting, or quarter-to-quarter, based on changing conditions "on the ground," as military leaders say. In essence, mix the ingredients differently. The Fed did so in the mid-1980s and mid-1990s. Instead of dubiously committing to raising rates indefinitely, it might be wise to keep an eye on growth, especially with the conflict overseas, as rate hikes could lead to recession- worse than the current climate.
The economy is now Mr. Biden’s, having re-nominated Mr. Powell for Chair, while nominating Lael Brainard for Vice-Chair, both now before the Senate amidst questions over Fed "insider trading," and whether the Fed should own environmentally-unfriendly assets.
Dr. Brainard could steer Mr. Powell within his newfound fixation on rate-raising. Once set, though, a mixed-method approach, as described here-to-fore, might prove most stabilizing, along with mixing policies between different tools. Also helpful for Fed policy, and for keeping rates low, would be if President Biden’s larger bill were to be revisited once growth slows, even if voted on in pieces. Parts, even those aimed at climate change, could stimulate the economy, especially if some revenues paid down debt.
A combination of all such approaches would ensure that the government gets the upcoming climate right and that the kids get their holiday baked goods just under a year from now, without a recession, but certainly with butter for everyone.
Dr. Todd J. Barry holds a PhD from the University of Southern Mississippi, and teaches economics, currently with Hudson County Community College in New Jersey, USA.
New AI technology detects sleep apnea while you snooze
NAPSI—- Roughly 20% of U.S. adults have sleep apnea, and as many as 90% of those cases go undiagnosed. The condition occurs when people stop breathing periodically throughout the night, potentially leading to severe health issues.
Conventional methods for diagnosing sleep apnea can get expensive and are known to be uncomfortable, requiring medical professionals to administer tests at a doctor’s clinic or hospital or needing the patient to purchase at-home monitoring devices.
With this knowledge, Mintal—a wellness-focused technology brand—developed Mintal Tracker (available to download for free on iOS and Android), an AI-driven sleep analysis app that doesn’t require any hardware or external devices to generate thorough sleep reports and detect warning signs for sleep apnea.
Detect Sleep Apnea From Home, Free
Leveraging industry-leading AI technology, the Mintal R&D team developed a sophisticated deep learning model that can maintain high accuracy with low hardware performance and storage requirements. Mintal Tracker can analyze your sleep sounds in real time, accurately identifying when you snore and/or display signs of OSAHS (Obstructive Sleep Apnea/Hypopnea Syndrome) to generate analysis reports in seconds and enable you to quickly understand your sleep habits.
Setup is easy; you just need to place your phone by your bed, and the app will record and analyze your sleep sounds throughout the night. Through testing, the app was found to be highly accurate in diagnosing moderate to severe sleep apnea, offering a starting point for further medical diagnosis. As such, users call this app “life saving”:
•“An excellent app. Did not expect the level of diagnosis provided. I was really impressed. I will be recommending this app to family and friends. I will also make sure my PCP is aware this app exist. Thank you for a very useful and possibly life saving app.”—Phillip M**, 12/05/2021, Google Play
•“This app help me see that I have issues when I sleep, especially with snoring, that I may have sleep apnea. This is a great app to have if you worry about why you are still tired when you wake up, you may not be getting a good quality of sleep.”—Nay N**, 12/06/2021, App Store
• “I love this because it is the alarm that has worked for me. It really knows when to wake me so I’m less moody... My sleep has only improved in all this time.”—Foran E** 12/23/2021, Google Play
After a night of sleep tracking, the app generates a summarized sleep report highlighting key metrics including how long and how frequently you snored and sleep talked, your risk of apnea and provides sleep cycle analysis and personalized sleep tips, which gives you or your doctor a whole picture of your sleep conditions. Moreover, you can listen to your snoring, dream talking and environment noises in the report.
Finally, Mintal Tracker goes beyond sleep tracking and sleep apnea detection—the app offers users hundreds of soothing sounds, anxiety relief exercises, a sleep encyclopedia and personalized advice for developing healthier sleep habits.
If your blood pressure goes up when you stand, your risk for a heart attack might, too
A nurse records a patient's blood pressure at UTSW Medical Center in Dallas, Texas. Researchers have compared heart disease risk factors, laboratory measures and the occurrence of major cardiovascular events such as heart attacks, heart-related chest pain, stroke, aneurysm of the aortic artery, and clogged peripheral arteries.
Photo: American Heart Association
DALLAS, TX -— Among young and middle-aged adults with high blood pressure, a substantial rise in blood pressure upon standing may identify those with a higher risk of serious cardiovascular events, such as heart attack and stroke, according to new research published today in the American Heart Association’s peer-reviewed journal Hypertension.
“This finding may warrant starting blood-pressure-lowering treatment including medicines earlier in patients with exaggerated blood pressure response to standing,” said Paolo Palatini, M.D., lead author of the study and a professor of internal medicine at the University of Padova in Padova, Italy.
Nearly half of Americans and about 40% of people worldwide have high blood pressure, considered to be the world’s leading preventable cause of death. According to the American Heart Association’s 2022 heart disease statistics, people with hypertension in mid-life are five times more likely to have impaired cognitive function and twice as likely to experience reduced executive function, dementia and Alzheimer’s disease.
Typically, systolic (top number) blood pressure falls slightly upon standing up. In this study, researchers assessed whether the opposite response – a significant rise in systolic blood pressure upon standing – is a risk factor for heart attack and other serious cardiovascular events.
The investigators evaluated 1,207 people who were part of the HARVEST study, a prospective study that began in Italy in 1990 and included adults ages 18-45 years old with untreated stage 1 hypertension. Stage 1 hypertension was defined as systolic blood pressure of 140-159 mm Hg and/or diastolic BP 90-100 mm Hg. None had taken blood pressure-lowering medication prior to the study, and all were initially estimated at low risk for major cardiovascular events based on their lifestyle and medical history (no diabetes, renal impairment or other cardiovascular diseases). At enrollment, participants were an average age of 33 years, 72% were men, and all were white.
At enrollment, six blood pressure measurements for each participant were taken in various physical positions, including when lying down and after standing up. The 120 participants with the highest rise (top 10%) in blood pressure upon standing averaged an 11.4 mm Hg increase; all increases in this group were greater than 6.5 mm Hg. The remaining participants averaged a 3.8 mm Hg fall in systolic blood pressure upon standing.
The researchers compared heart disease risk factors, laboratory measures and the occurrence of major cardiovascular events (heart attack, heart-related chest pain, stroke, aneurysm of the aortic artery, clogged peripheral arteries) and chronic kidney disease among participants in the two groups. In some analyses, the development of atrial fibrillation, an arrhythmia that is a major risk factor for stroke, was also noted. Results were adjusted for age, gender, parental history of heart disease, and several lifestyle factors and measurements taken during study enrollment.
During an average 17-year follow-up 105 major cardiovascular events occurred. The most common were heart attack, heart-related chest pain and stroke.
People in the group with top 10% rise in blood pressure:
- were almost twice as likely as other participants to experience a major cardiovascular event;
- did not generally have a higher risk profile for cardiovascular events during their initial evaluation (outside of the exaggerated blood pressure response to standing);
- were more likely to be smokers (32.1% vs. 19.9% in the non-rising group), yet physical activity levels were comparable, and they were not more likely to be overweight or obese, and no more likely to have a family history of cardiovascular events;
- had more favorable cholesterol levels (lower total cholesterol and higher high-density-lipoprotein cholesterol);
- had lower systolic blood pressure when lying down than the other group (140.5 mm Hg vs. 146.0 mm Hg, respectively), yet blood pressure measures were higher when taken over 24 hours.
After adjusting for average blood pressure taken over 24 hours, an exaggerated blood pressure response to standing remained an independent predictor of adverse heart events or stroke.
“The results of the study confirmed our initial hypothesis - a pronounced increase in blood pressure from lying to standing could be prognostically important in young people with high blood pressure. We were rather surprised that even a relatively small increase in standing blood pressure (6-7 mm Hg) was predictive of major cardiac events in the long run,” said Palatini.
In a subset of 630 participants who had stress hormones measured from 24-hour urine samples, the epinephrine/creatinine ratio was higher in the people with a rise in standing blood pressure compared to those whose standing blood pressure did not rise (118.4 nmol/mol vs. 77.0 nmol/mol, respectively).
“Epinephrine levels are an estimate of the global effect of stressful stimuli over the 24 hours. This suggests that those with the highest blood pressure when standing may have an increased sympathetic response [the fight-or-flight response] to stressors,” said Palatini. “Overall, this causes an increase in average blood pressure.”
“The findings suggest that blood pressure upon standing should be measured in order to tailor treatment for patients with high blood pressure, and potentially, a more aggressive approach to lifestyle changes and blood-pressure-lowering therapy may be considered for people with an elevated [hyperreactor] blood pressure response to standing,” he said.
Results from this study may not be generalizable to people from other ethnic or racial groups since all study participants reported white race/ethnicity. In addition, there were not enough women in the sample to analyze whether the association between rising standing blood pressure and adverse heart events was different among men and women. Because of the relatively small number of major adverse cardiac events in this sample of young people, the results need to be confirmed in larger studies.
8 Urbana students win writing award
URBANA -- Fifty-two K-8 students from the Urbana school district will be recognized on April 20 as the top entries in this year's Young Authors Awards contest. Each student will receive a certificate of achievement and a copy of the Young Authors book. The book contains each of this year's winning entries.
The top eight authors for the 44th Annual Young Author Awards include:
Haanya Abbasi, Urbana Middle School
Paio Sotomayor, Dr. Preston Williams School
Julian Rogers, Dr. Martin L. King Jr. School
Miles Rehfeldt, Wiley School
Arihant Sinha, Yankee Ridge
Rafael Lleras Buetti, Leal School
Clara Naveja, Leal School
Avery Ogolsky, Thomas Paine
Also recognized for submitting winning entries from Thomas Paine included Marie Knight-Broughton, Justin Lewis, Daniel McHenry and, Addy McHenry. In addition to Leal's two overall winners, five other students earned recognition for their entries. Joshua Vazquez Benitez, Ivan Erickson, Diken Guevara, Maxime Guironnet, and Willa Sola will also be honored at the celebration in late April. Other winners from Urbana Middle School included Karina Berceanu, Trinidad Cuahuey, Seth Fiscus, Alice Hauser, Muhammad Iftikhar, Harmony Lehman, Simone Marshall, Gwendolyn McLean, Austin Ogolsky, Kavinder Patel, Colton Ruud, Grace Tshimankinda, Ruby Waarala-Dugger, Christian Weiss, Nico Wiemelt, Rachel Wiley, and Andrea Williams. Young authors recognized for their essays from Dr. Preston Williams included Gemma Douglas, Hayden Intravaia, Lucy Martin, Esmeralda Orozco, Jade Pineda Walker, Izzy Roegman, and Veronica Vargas. Winners from Dr. Martin L. King were Pranisha Chaturvedi, Nylah McReynolds, China Endo Song, and Longhan (Alice) Xu. Five other students from Yankee Ridge also submitted a winning entry. They include Janny Knutson, Benny Lerman, Gracelyn Lusk, Lydia Ruud, and Brianne Thurman. Coraline Hauser and Isabel Tanner-Lane from Wiley school also earned recognition for their submissions. The celebration program will also include a presentation from an author, who will be announced at a later date.
Paio Sotomayor, Dr. Preston Williams School
Julian Rogers, Dr. Martin L. King Jr. School
Miles Rehfeldt, Wiley School
Arihant Sinha, Yankee Ridge
Rafael Lleras Buetti, Leal School
Clara Naveja, Leal School
Avery Ogolsky, Thomas Paine
Also recognized for submitting winning entries from Thomas Paine included Marie Knight-Broughton, Justin Lewis, Daniel McHenry and, Addy McHenry. In addition to Leal's two overall winners, five other students earned recognition for their entries. Joshua Vazquez Benitez, Ivan Erickson, Diken Guevara, Maxime Guironnet, and Willa Sola will also be honored at the celebration in late April. Other winners from Urbana Middle School included Karina Berceanu, Trinidad Cuahuey, Seth Fiscus, Alice Hauser, Muhammad Iftikhar, Harmony Lehman, Simone Marshall, Gwendolyn McLean, Austin Ogolsky, Kavinder Patel, Colton Ruud, Grace Tshimankinda, Ruby Waarala-Dugger, Christian Weiss, Nico Wiemelt, Rachel Wiley, and Andrea Williams. Young authors recognized for their essays from Dr. Preston Williams included Gemma Douglas, Hayden Intravaia, Lucy Martin, Esmeralda Orozco, Jade Pineda Walker, Izzy Roegman, and Veronica Vargas. Winners from Dr. Martin L. King were Pranisha Chaturvedi, Nylah McReynolds, China Endo Song, and Longhan (Alice) Xu. Five other students from Yankee Ridge also submitted a winning entry. They include Janny Knutson, Benny Lerman, Gracelyn Lusk, Lydia Ruud, and Brianne Thurman. Coraline Hauser and Isabel Tanner-Lane from Wiley school also earned recognition for their submissions. The celebration program will also include a presentation from an author, who will be announced at a later date.
Urbana Kindergarten Connection to be held on April 5
URBANA -- This year's Kindergarten Connection will be held at Lincoln Square Mall from 11am - 5:30p on April 5. Families with children who will be 5 years old on or before Sept. 1, 2022, can register their students for the upcoming 2022-23 academic year.
The future kindergartner does not need to accompany the parents to the event unless they speak a language other than English or a language other than English is spoken at home with the family. The child will need to undergo an English language screening.
Parents should bring a government-issued photo ID, the child's official birth certificate. and phone numbers for emergency contacts. Parents or guardians will need to provide a signed mortgage or lease as proof of residency. If a copy of the lease is not immediately available, two other forms of proof such as a driver's license, utility bill, voter registration, or a change of address notification from the post office can be submitted in place of a lease/mortgage contract.
Photo-of-the-Day | Miller pounds 3-run homer
St. Joseph-Ogden catcher Coby Miller (right) is greeted at home plate by teammates after hitting a 3-run homer in the Spartans' home debut against Centennial High School. The shot came on his first trip to the plate in the bottom of the first inning on April 12, 2021. SJO went on to win the non-conference ball game, 9-5. Weather permitting, Miller and the Spartans will play the first 2022 home contest tomorrow afternoon. Click this link to view more photos from this game.
Photo: PhotoNews Media/Clark Brooks.
Are you eligible to claim the IRS saver’s credit?
NAPSI -— Here’s good news, for a change, from the IRS: It offers an incentive to lower your tax bill when you save for retirement. With pandemic-related employment disruptions last year, more taxpayers may be eligible to claim the Saver’s Credit but may not even know this tax credit exists. Also referred to as the Retirement Savings Contributions Credit, the Saver’s Credit can reduce federal income taxes for eligible taxpayers who save for retirement through a qualified retirement plan, such as a 401(k) or an Individual Retirement Account (IRA).
The 22nd Annual Transamerica Retirement Survey finds that fewer than half (48 percent) of workers are aware of the Saver’s Credit.
"People who are saving for retirement may be able to claim the Saver’s Credit and reduce their federal taxes," says Catherine Collinson, CEO and president of nonprofit Transamerica Institute and its Center for Retirement Studies. "Perhaps people are confusing the tax credit with the tax-advantage treatment of retirement accounts. The idea of a double tax benefit may sound too good to be true but both are available to retirement savers."
What Is the Saver’s Credit?
The Retirement Savings Contributions Credit is a non-refundable tax credit for contributions an eligible taxpayer makes to a 401(k), 403(b) or similar employer-sponsored retirement plan, a traditional or Roth IRA or an ABLE account. In this context, "non-refundable" means the credit cannot exceed a person’s federal income tax for the year. The maximum credit is $1,000 for single filers or individuals and $2,000 for married couples filing jointly.
Tips for claiming the Saver’s Credit
1.Check Your Eligibility
To be eligible, the maximum Adjusted Gross Income (AGI) for single filers is $33,000 in 2021 and $34,000 in 2022. For the head of a household, the AGI maximum is $49,500 in 2021 and $51,000 in 2022. For those who are married filing jointly, the AGI maximum is $66,000 in 2021 and $68,000 in 2022.
You must be 18 years or older by January 1 and cannot be a full-time student or be claimed as a dependent on another person’s tax return. Consider using the IRS’s online tool to help determine if you are eligible for the Saver’s Credit.
2.Save for Retirement
To claim the Saver’s Credit for 2021, you must have contributed to a 401(k), a 403(b), a similar employer-sponsored retirement plan or an ABLE account during 2021. Contributions to traditional or Roth IRAs are also eligible and you have until April 18, 2022 to make an IRA contribution for tax year 2021. Roll-over contributions are not eligible for the credit.
3.File Your Tax Return and Claim the Saver’s Credit
Let the IRS help you file your federal taxes with its Free File program. The program’s eight partners offer online tax preparation tools free to taxpayers with an AGI of $73,000 or less. More at www.irs.gov/FreeFile.
•When using an online tax preparation tool, be sure to answer questions about the Saver’s Credit, also referred to by the IRS as the Retirement Savings Contributions Credit and Credit for Qualified Retirement Savings Contributions.
•If you prepare your tax return manually, complete Form 8880, Credit for Qualified Retirement Savings Contributions, to determine your exact credit rate and amount. Then transfer the amount to line 4 on Schedule 3, which is used with Forms 1040, 1040-SR, and 1040-NR.
•If you use a professional tax preparer, be sure to ask about the Saver’s Credit.
"Consistently saving for retirement is fundamental to helping achieve financial security in retirement,” says Collinson. “Another way to help boost your retirement savings is to directly deposit any tax refund into an IRA. Saving more now could help you reap more later."
Learn More
For more details and resources on the Saver’s Credit in English and Spanish, visit Transamerica Institute at www.transamericainstitute.org/SaversCredit or the IRS at www.irs.gov.
Study finds firefighters’ risk of irregular heartbeat linked to the number of fires they fought
Photo: Matt C/Unsplash
DALLAS —- Among firefighters, the risk of having an irregular heart rhythm, known as atrial fibrillation (AFib), increases with the number of fires they respond to, according to new research published today in the Journal of the American Heart Association, an open access, peer-reviewed journal of the American Heart Association.
Compared with people in other occupations, firefighters are known to have a disproportionately high risk of heart disease, and almost half of fatalities in on-duty firefighters result from sudden cardiac death – when the heart suddenly stops beating and pumping blood to vital organs. An increased risk of an irregular heart rhythm or arrhythmias from the ventricles, the bottom chambers of the heart, has been documented in firefighters, however, prior to this study, little was known about AFib, which is an arrhythmia involving the top chambers of the heart. According to the American Heart Association, AFib is the most common type of irregular heartbeat with at least 2.7 million people living with it in the United States. People with AFib have an increased risk of blood clots, heart failure, stroke and other heart complications.
"A few years ago, I treated a local firefighter for atrial fibrillation, and he felt dramatically better with the treatment, so he referred other firefighters to me for care, all with AFib. I decided to methodically examine AFib in the firefighter population, as it may shed light into the cause of atrial fibrillation in non-firefighters as well," said Paari Dominic, M.D., senior author of the study, the director of clinical cardiac electrophysiology and associate professor of medicine and molecular and cellular physiology at LSU Health Shreveport in Louisiana.
Participants were recruited through five professional firefighter organizations. The study was conducted from 2018-19 among active firefighters throughout the U.S. They completed a survey about their occupational exposure (number of fires fought per year) and about their history of heart disease. Of the 10,860 firefighters who completed the survey (93.5% male, and 95.5% were age 60 or younger), 2.9% of the men and 0.9% of the women reported a diagnosis of AFib.
"Among adults in the general population younger than age 60, there is a 0.1-1.0% prevalence of having AFib. However, among our study population, 2.5% of firefighters ages 60 or younger had AFib," Dominic said. "Of the few respondents who were 61 or older, 8.2% reported a diagnosis of AFib."
When occupational exposure was factored in, the researchers found a direct and significant relationship between the number of fires fought and the risk of developing AFib. The analysis found:
2% of those who fought 0-5 fires per year developed AFib;
2.3% of those who fought 6-10 fires per year developed AFib;
2.7% of those who fought 11-20 fires per year developed AFib;
3% of those who fought 21-30 fires per year developed AFib; and
4.5% of those who fought 31 or more fires per year developed AFib.
After adjusting for multiple risk factors for AFib, such as high blood pressure and smoking, researchers found a 14% increased risk of atrial fibrillation for every additional 5 fires fought annually.
"Clinicians who care for firefighters need to be aware of the increased cardiovascular risk, especially the increased risk of AFib, among this unique group of individuals. The conditions that elevate their risk further, such as high blood pressure, Type 2 diabetes, lung disease and sleep apnea, should be treated aggressively. In addition, any symptoms of AFib, such as palpitations, trouble breathing, dizziness and fatigue, should be investigated promptly," Dominic said.
According to the researchers, multiple mechanisms may be involved in the association between firefighting and AFib. "First, and foremost, are the inhalation and absorption through the skin of harmful compounds and substances produced by the combustion of materials during a fire, including particulate matter, polyaromatic hydrocarbons and benzene. Exposure to these substances, especially particulate matter in air pollution, even for a short time has been previously linked to an increased risk of AFib. In addition, firefighters are exposed to high physical and psychological stress together with long work hours, all of which can increase their adrenaline levels and cause an imbalance in the mechanisms that maintain heart rate. Finally, heat stress (exposure to high temperatures) can cause an increase in core body temperature and severe dehydration, both of which increase the demand for a higher heart rate, and may subsequently trigger AFib," Dominic said.
"Studying firefighters, who personally make sacrifices for the safety of us all, is essential to prevent disease and death in this population that makes a big impact on the well-being of our communities," Dominic said.
The study is limited by basing the presence of atrial fibrillation and all other medical conditions on the firefighters’ survey responses. However, the researchers were able to corroborate the self-reported responses by linking them to well-established associations between atrial fibrillation and the presence of risk factors such as high blood pressure and sleep apnea, suggesting that the self-reports were accurate.
The researchers are currently analyzing the survey data to investigate the association between the annual number of fires fought and the risk of atherosclerotic cardiovascular disease. Atherosclerosis is a buildup of fatty deposits in the arteries that can thicken blood vessel walls and reduce blood flow to the heart muscle, brain, kidneys or extremities.
Based on the results of this study, researchers suggest future studies systematically screen firefighters for AFib to detect asymptomatic or new cases to evaluate the relationship between fire exposure and stroke risk in firefighters with AFib to allow a better understanding about which of the components of occupational exposure to fires plays a key role in causing fibrillation. They should also examine the reluctance of firefighters with AFib to use blood thinners. Blood thinners are a standard treatment for AFib; however, the medication carries an added risk of bleeding and firefighters are concerned about their increased risk of bleeding injuries due to low-visibility firefighting situations.
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