Business News

Maller Honored By Lincoln Financial

2014-04-10 10:10:46 lbridwell


Peter Maller, founder and president of Maller Wealth Advisors, and registered representative of Lincoln Financial Advisors (LFA), was named LFA Planner of the Year for 2013. Planner of the Year is awarded each year to the three leading advisors among thousands affiliated with Lincoln Financial.

“Planner of the Year is the highest acknowledgement our company bestows on a financial planner,” said John DiMonda, head of LFA. “It is a direct reflection of Peter’s commitment to his clients and a testament to his professionalism and loyalty to our company.”

Maller has been named LFA Planner of the Year six times in the last seven years. With more than 20 years’ experience in the financial services industry, Maller founded Maller Wealth Advisors in January 2014. The firm, headquartered in Hunt Valley, is a wealth management firm providing sophisticated investment strategies, comprehensive financial planning, risk-management services, business succession planning and employee benefits to successful business owners, accomplished professionals and high-net-worth individuals.

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IISHJ Names Outreach Director

2014-04-10 10:00:50 lbridwell

The International Institute for Secular Humanistic Judaism (IISHJ) has announced that Noach Dzmura is its new campus outreach coordinator/rabbinic student recruiter.

Dzmura has 20 years’ experience as an instructional designer for the software industry and for higher education. Since obtaining an M.A. in Jewish Studies from the Richard S. Dinner Center for Jewish Studies of the Graduate Theological Union in Berkeley, Calif., he has garnered six years’ experience in outreach, marketing and communications specific to the Jewish nonprofit world.

Dzmura’s duties will include strategically targeting campuses for outreach that will maximize IISHJ’s impact in relation to available speakers and existing congregations, updating the promotional materials used for the IISHJ Rabbinic Program to reflect its current aims and goals and updating other materials used to advance Secular Humanistic Judaism.

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Resist the Urge to Tap Retirement Plans Early

2014-04-10 10:00:48 lbridwell

I have yet to meet anyone who thinks they’re saving too much money for retirement. On the contrary, most people admit they’re probably setting aside too little. Retirement accounts must compete with daily expenses, saving up for a home, college and unexpected emergencies for every precious dollar.

If taking money out of your IRA, 401(k) or other tax-sheltered plan is your best or only option, you should be aware of the possible impacts on your taxes and long-term savings objectives before raiding your nest egg.

Many 401(k) plans allow participants to borrow from their account to buy a home, pay for education, medical expenses or other special circumstances. Generally, you may be allowed to borrow up to half your vested balance, up to a maximum of $50,000 — or a reduced amount if you have other outstanding plan loans.

Loans usually must be repaid within five years, although you may have longer if you’re using the loan to purchase your primary residence.

Potential drawbacks to 401(k) loans include:

> If you leave your job, even involuntarily, you must pay off the loan immediately (usually within 30 to 90 days) or you’ll owe income tax on the remainder — as well as a 10 percent early distribution penalty if you’re under age 591/2.

> Loans cannot be rolled over into a new account.

> Some plans don’t allow new contributions until outstanding loans are repaid.

> Many people, faced with a monthly loan payment, reduce their 401(k) contributions, thereby significantly reducing their potential long-term account balance and earnings.

> Your account value will be lower while repaying your loan, which means you’ll miss out on market upswings.

Many 401(k) plans allow hardship withdrawals to pay for certain medical or higher education expenses, funerals, buying or repairing your home or to prevent eviction or foreclosure. You’ll owe income tax on the withdrawal — plus an additional 10 percent penalty if you’re younger than 591/2, in most cases.

Traditional IRAs allow withdrawals at any time for any reason. However, you’ll pay income tax on the withdrawal — plus the 10 percent penalty as well, with certain exceptions. With Roth IRAs, you can withdraw contributions at any time, since they’ve already been taxed. However, to withdraw earnings without penalty you must be at least 591/2, and the funds must have been in the account for at least five years.

To learn more about how the IRS treats 401(k) and IRA loans and withdrawals, visit

With 401(k) and traditional IRA withdrawals, the money is added to your taxable income, which could bump you into a higher tax bracket or even jeopardize certain tax credits, deductions and exemptions that are tied to your adjusted gross income. All told, you could end up paying half or more of your withdrawal in taxes, penalties and lost or reduced tax benefits.

Finally, if you borrow or withdraw your retirement savings, you’ll sacrifice the power of compounding, where interest earned on your savings is reinvested and in turn generates more earnings. You’ll forfeit any gains those funds would have earned for you.

Carefully consider the potential downsides before tapping your retirement savings for anything other than retirement itself.

Jason Alderman directs Visa’s financial education programs.

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Races Raise $487K for CMNH

2014-04-10 10:00:48 lbridwell

Credit Union Miracle Day, the title sponsor group of a family of races, presented a $487,000 donation to Children’s Miracle Network Hospitals (CMNH) nationwide representing two popular races on the East and West coasts. Of that amount, $111,781 has been raised online by 282 credit union members, runners and their families and friends.

“We are extremely grateful for everyone’s commitment to making this amazing donation a reality,” said Theresa Mann, chairman of Credit Union Miracle Day and president/ CEO of The Partnership FCU in Washington, D.C. “Hundreds of volunteers from our credit unions and business partners have given their time and talent to this vital cause that helps kids receive quality medical treatment.”

A record number of members of Congress — 231 — representing all 50 states signed on to be honorary race chairs

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Leadership Maryland Names 2014 Class

2014-04-10 10:00:31 lbridwell

Leadership Maryland has announced 52 leaders for its 21st class — the Class of 2014. Leadership Maryland is one of 34 state leadership programs nationwide and has graduated nearly 1,000 statewide leaders.

“These selected participants represent a broad spectrum of highly qualified executives from an extraordinary pool of statewide applicants,” said Renee M. Winsky, president and CEO and Class of 2005 graduate of Leadership Maryland. “After participating in a comprehensive program of experiences throughout the year, these leaders will serve as important participants in the unified effort to shape Maryland’s future.”

Following a two-day opening retreat this month, these class members will attend five two-day intense sessions focusing on economic development, education, health and human services, criminal justice, the environment, and multiculturalism/diversity. These sessions will be followed by a one-day closing retreat in November and a graduation celebration in December.

See the full list at

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