NEW YORK TREND Serving New York City, Nassau & Suffolk Counties
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THE ALTERNATIVE PERSPECTIVE
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NEWMAYOR YORK TREND DAVID DINKINS, REP. CHARLES RANGEL, Serving New York City, Nassau & Suffolk Counties
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THE ALTERNATIVE VOLUMEPERSPECTIVE 26 ISSUE 40
Since 1989 NYC $1.00 newyorktrendnyc.com
December 17, 2015 - December 23, 2015
VOLUME 32 ISSUE 22
Since 1989
October 13th, 2022 - October 19th, 2022
C E L E B R AT I N G HONORED WITH LIFETIME ACHIEVEMENT AWARDS 30
BET FOUNDER JOINS INDUSTRY LEADERS TO $ News 2015 Annual Black Stars SThe A V E 619 BILLION IN RETiREMENT FUNDS Awards Dinner will honor Mayor
YEARS!
York and a former chancellor of the New York public schools system.
Retirement Clearinghouse, LLC (RCH), prematurely cash out their 401(k) savings "As an industry, we have a responsibility David Dinkins, Rep. Charles Pioneering producers Stephen an RLJ Company, Fidelity Investments, accounts and pay taxes and penalties on to American workers to remove barriers to Rangel, Rep. Yvette Clarke, Byrd and Jones, Vanguard, and Alight Solutions announced those cash-outs, according to the Employee retirement preparedness and increase their as its chairman, andAlia is designed to through include their Donahue Peebles, Barbara Benefit Research Institute (EBRI). Workers that theyR.have collaborated to create chances for investment success,” said John company Front Production, up to three additional majorRow recordkeepers Arnwine, Inez Barron, a consortium of workplace retirementSabrina with less than $5,000—the focus of the auto James, Managing Director and Head of as owners. PSN’s owners willagovern the Roof” brought “Cat on Hot Tin Lamb, Dr. Portability Rudy Crew, Stephen portability service—cash out at the time of plan recordkeepers, Services Vanguard Institutional Investor Group. networkand as an“A industry utility Named designedDesire” with Streetcar Network, LLC, to accelerate nationwide “The formation of this consortium directly Byrd, Alia Jones,the and the Centraltheir job change at much higher rates than the goal of operating at the lowest cost to with a multi-ethnic cast to adoptionPark of auto portability to help America’s all job-changing workers. complements Vanguard’s ongoing efforts workers participating in auto portability. PSN Five survivors of gross injustice In 2016 they bring under-served and under-saved workers to simplify investing and drive positive is open Broadway. to all recordkeepers to connect. The December 18 from 6:00pm – “As a leader in the workplace benefits improveon their retirement outcomes. participant outcomes.” “Eclipsed” with Oscar Winner recordkeepers that own or participate in industry, Fidelity is committed to improving 10:00pm at MIST Harlem, 46 West In announcing the consortium, Bob PSN willLupita not receive any compensation for Nyong ’O to Broadway. the private retirement system to benefit The consortium currently represents 116th Street.BET and the RLJ Johnson, who founded facilitating auto portability transactions from all American workers,” said Kevin Barry, approximately 43.8 million workers across Honorees, the so-calledplease Central Companies said, “For many years, I have participants. For more information, President of the Workplace Investing Division more than 48,000 employer-sponsored “Eachon honoree chosensolutions for been focused finding business Park 5, are collectively and visit https://info.rch1.com/request-psnat Fidelity Investments. “We are excited retirement plans, based on data published recognition has demonstrated to addressing the significant wealth gap info or email sales@RCH1.com. individually heroes. They are about the opportunity to work with RCH by Pensions & Investments. Its members facing minorities, and leadership I am delighted to vision in exceptional and and otherDavid leaders in our industry to focus have established an independent entity, survivors of one ofLLC the Retirement Clearinghouse, is ugliest Dinkins Charles Rangel see the her leaders in the retirementprofession services or his respective or squarely on ‘connecting and protecting’ Portability Services Network, LLC the leading provider of portability and miscarriage of justice in New York’s industryendeavor come together my company, andwith in some significant consolidation services for defined history; having been railroaded RCH, to accelerate the nationwide adoption majority. She now leads The was a member of the New York contribution plans, acting as a trusted, measure as has contributed of auto portability part of our visiontowards for and unjustly between convicted Transformative Justice Coalition. unbiased City Council, representing the intermediary planfor a crime a more just society in this helping creating under-served and under-saved th they did not commit and for Arnwine was for 26 years executive 40 council district in Brooklyn, sponsors, participants, recordkeepers and which Americans achieve says financial security. country,” Black StarThis News they served long prison sentences other parties. Retirement Clearinghouse’s director of the Lawyers’ Committee succeeding her mother, Una S. is truly afounder historic moment for the industry, and publisher Milton financial technology, ranging from seven data yearsand to 13 years for Civil Rights Under the Law. integrated T. Clarke. In the current 114th as well as our country and is the first step Allimadi. “Obviously much work information solutions facilitate automated before being exonerated when the to reduce the wealth gap between Black Congress Clarke serves on Inez Barron, honoree, formerly aconsolidation of small, redundant accounts needs to beindone here and and white households this country. I urge actual rapist confessed. They are: the Energy and Commerce State Assembly member, is nowfor sponsors to improve plan performance, around the world.” Black organizations, Black elected officials, Yusef Abdus Salaam; Raymond Committee, responsible for a New York City council memberand enable participants, regardless of and the Black community to contact their The gala starts at 6:00pm with a Santana Antrontransport McCray, Kevin account balance, toJr., seamlessly consumer protection, food workplace benefits office and 401(k) record and a champion of education for their retirement savings through every phase cocktail hour to be followed by the Richardson, and Kharey Wise. safety, energy development, public keeper companies to encourage them to our youth. of their careers. These solutions include a dinner and awards ceremonies. There fully adopt 401(k) auto portability.” health, communications, the The Black Star News, which focuses Honoree Imhotep Gary Byrd is domestic call center providing specialized will musical entertainment by environment, and interstate and The need forbe auto portability has been driven assistance to enable end-to-end has on designed investigative journalism, a legendary radio talk show host portability and account consolidation; opera singer Cassandra Douglas by the lack of seamless plan-to-plan savings international commerce. been featured as a result of some if and executive producer, radio DJ,uncashed check services; and the portability amid a highly mobile workforce. and from harmonica phenomenon its news scoops, on CNN, The New R. Donahue Peebles, honoree, is CashingWilliam out has traditionally seen as poet, songwriter, music recordingcapability to search for lost and missing Galison. been David Dinkins is York Daily News, The New York a leading developer and founder of an easier option than current manual, artist and producer, rapper, writerparticipants. Retirement Clearinghouse honored for the Lifetime Achievement Post, The Voice, and Brill’s often cumbersome and time-consuming The Peebles Co., the nation’s largest and community activist. He beganworks with more thanVillage 34,000 retirement he was New City’s first process— of transferring fromYork plan-toplans and has helped guide over 1.8 million Content magazine. African American-owned real his career as a radio DJ in Buffaloplan participants with more than $28 African mayor and also plan—and cash-outAmerican rates for job-changing estate firm with $3.5 billion worth blackprwire.com Black savings. Star News honorees at agePhoto 15.Source: For over 30 years, he’s billion inPast minorities, low-income workers,Mandela and womento the welcomed Nelson retirement Retirement of properties under development are alsocity higher than average. have included: Gil Noble It Clearinghouse is a portfolio company(Like of after his release in 1990. B o b J o h n s o n— , fhe o u was n d e rone o f B E T a n d tbeen h e R L aJ Ctalk o m pshow a n i e s host at WBLS and or management The RLJ Companies, founded by Robert Is), Rep. Maxine Waters, Soledad WLIB radio in New York City. He Retirement Clearinghouse developed its Rep. Charles Rangel, also honored of the pioneering developerswho For more information, pleaseCosby, auto portability solution in conjunction with O’Brien (CNN), Ms. Camille also has a Friday night radio talk L. Johnson. retirement thereby will utilize Retirement for and Lifetime Achievement, has workers’helped visit www.rch1.com. turnsavings, around and revitalize (PSN), which the private public sectors to reverse this Voza Rivers (New Heritage Theatre), show onauto WBAI. retirement outcomes, particularly Clearinghouse’s portability solution served in Congress since 1971. He improving is trend. EBRI estimates that if auto portability the once-blighted Anacostia Alight is a leading cloud-based human Errol Louis (NY1 News), Amel those for under-served and under-saved to build Honoree a nationwideSabrina digital hub connecting Lamb, foundercapital technology and services provider was broadly adopted,of over theBronze course ofmedal a a recipient The for neighborhood in Washington, D.C. workers.” workplace retirement plan recordkeepers Larrieux (Entertainer), Dr. William 40-yearhelping period ansave additional $1.5 trillion that powers confident health, wealth and of World of Money, is a champion soldiers behind enemy A champion of African-American and the plan sponsors they serve. PSN will Pollard (Medgar Evers College), “We were honored to be the first 401(k) in savings would be preserved in the U.S. financial literacy for youth-- shewellbeing decisions for 36 million people line during the Korean War. clearinghouse for automatically economictoempowerment is as aof plan recordkeeper implement auto Peebles’ act retirement system. Auto portability will help: Herm Edwards (NY Jets), Nayaba locatingteaches a participant’s active workplace knowledge about handlingand dependents. Our Alight Worklife® contemplating possible portability for our clients,”asaid Alison run for NYC Rep.Black Yvette is a Democratic platform combines data and analytics 67 million and Clarke minority workers Arinde (Amsterdam News), La-Verna retirement account in their current money, budgeting and planning. with a simple, seamless user experience. Borland,mayor Executive Vice President of Wealth in 2017. save $619 billion of the US House of member Fountain (Columbia University), employer’s plan and transferring the same Solutions at Alight. “Two years later, industry Supported by our global delivery capabilities, 42 million women workers of all New Dr. Rudy Crew, honoree, is one of Representatives from participant’s account from their prior Lillian Roberts (DC37), Desiree Dancy Honoree awareness and the Barbara momentumArnwine, behind this civil Alight Worklife is transforming the employee ethnicities save $365 billion employer’s plan into their active account. the nation’s leading educators. He’s York whose 9th district covers (New York Times), Greg Floyd vital solution grownissignificantly, andof rightshave lawyer, a champion experience for people around the world. With(Local In addition to Alight, Vanguard, and Fidelity, Approximately billion inBrooklyn. savings forward to working with our fellow much $92 of central Before we lookprotecting 237), Rev. Al Sharpton (National president of Medgar Evers College voting rights of ethnic the Portability Services Network will be personalized, data-driven health, wealth, pay leaves the U.S. retirement system every industryminority leaders togroups reduce our entering Congress in 2007, Action Network), and many others. ThebyCity University of New — country’s the emerging majorityof owned RCH with Mr. Johnson year because Americans who switch jobs she retirement-savings shortfall.” -- cont'd on Page 5
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