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MVP Health Care to administer behavioral-health services
SCHENECTADY — Health insurer MVP Health Care plans to “directly administer” case management, utilization review, claims payment, and network management for all of its New York members that use behavioral-health services. That service will start in early 2020, the Schenectady–based insurer announced July 10. Boston, Massachusetts–based Beacon Health Options has administered behavioral-health services for MVP […]
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SCHENECTADY — Health insurer MVP Health Care plans to “directly administer” case management, utilization review, claims payment, and network management for all of its New York members that use behavioral-health services.
That service will start in early 2020, the Schenectady–based insurer announced July 10. Boston, Massachusetts–based Beacon Health Options has administered behavioral-health services for MVP customers in New York since 2009.
Behavioral-health services could include mental health and substance-use disorder services.
The MVP announcement comes just over a month after health insurer Anthem Inc. (NYSE: ANTM) announced it had agreed to acquire Beacon Health Options. However, Christopher Del Vecchio, president and COO of MVP Health Care, told the Albany Times Union in a July 10 article that MVP’s decision had been under consideration for more than a year and wasn’t prompted by the acquisition news.
In addition, the Times Union article noted that a group of state behavioral-health agencies had told Crain’s New York Business that they had some payment issues with Beacon, but Del Vecchio said those concerns also weren’t a factor in MVP’s decision to bring the behavioral-health service administration in-house.

Del Vecchio is set to become MVP’s CEO on Sept. 1, replacing current CEO Denise Gonick, who is resigning.
MVP has a total membership of more than 700,000 people, including more than 600,000 in New York state, Michelle Golden, a PR staff person at MVP Health Care, said in an email response to a CNYBJ inquiry.
MVP Health Care noted in its release that, “on average,” 20 percent of its members have a diagnosed behavioral-health condition.
In addition, MVP customers with behavioral-health conditions can incur costs up to “six times more” than those without a behavioral-health diagnosis; and integrating behavioral and physical health care “significantly improves outcomes and lowers costs.”
MVP contends that its new health initiative will “empower primary-care and behavioral-health professionals to succeed at integrating patient care.”
Pending regulatory approval, when MVP assumes the administration of all services from Beacon Health Options, MVP’s behavioral-health network will include personalized service and support directly from the health insurer.
Behavioral-health providers will benefit from a new structure that lets them treat their patients “holistically,” and that “streamlines their reimbursements,” MVP contends.
MVP says it is working with Beacon Health Options to ensure that all areas of care delivery transition over well. Through the remainder of this year, as MVP builds its own behavioral-health network comprised of Beacon’s current providers and other services “deemed essential to MVP’s integrated-health vision,” members’ current 2019 benefits will not be affected.
A “fragmented” health-care delivery system has kept behavioral health and physical health apart, and as a result, the system has “lost sight of the fact that behavior often drives the morbidity of medical conditions,” MVP Health Care stipulated in its release. Fragmentation also contributes to “poor accessibility, less robust outcomes, and higher medical costs.”
“Our new streamlined approach to providing behavioral-health services will allow us to look at a patients’ entire continuum of care and evaluate the best way to improve their overall health and well-being,” Dr. Bruce Himelstein, chief medical officer at MVP Health Care, said. “Putting the patient back at the center of our health-care system is vital to improving outcomes and by implementing this new initiative, we will provide comprehensive, high quality care to our members.”
MVP Health Care operates a Syracuse office at 333 West Washington St., an Endwell office at 3660 George F Highway, and another location at 421 Broad St. in Utica, per its website.
Study: Number of workers eligible for health coverage at work rises
A new study from the Employee Benefit Research Institute (EBRI) finds the number of workers eligible to receive health insurance through their job rose from 2014 through 2018, despite offer rates from employers “slowly declining.” The Employee Benefit Research Institute says it is a nonprofit research institute based in Washington, D.C., that focuses on health, savings,
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A new study from the Employee Benefit Research Institute (EBRI) finds the number of workers eligible to receive health insurance through their job rose from 2014 through 2018, despite offer rates from employers “slowly declining.”
The Employee Benefit Research Institute says it is a nonprofit research institute based in Washington, D.C., that focuses on health, savings, retirement, and financial security issues.
The EBRI issue brief, “More Workers Eligible for Health Coverage Despite Lack of Growth in Employer Offer Rates,” examines how the availability of employment-based health insurance has been changing. It also looks at how the availability may have been affected by the Affordable Care Act (ACA) of 2010 (Obamacare), as well as the Great Recession of 2007–2009 and the subsequent economic recovery.
“Despite the lack of an increase in offer rates, the percentage of workers eligible for health coverage through their job continued its upward trend,” Paul Fronstin, director of the health research and education program at EBRI, said in a news release about the research. “Between 2014 and 2018, the percentage of workers eligible for health coverage increased from 75.4 percent to 78 percent. We believe this increase is likely due to changes in the composition of the work force. We found a shift to full-time employment, fewer workers considered low-wage, and a shift to larger firms.”
Affordable Care Act impact
The ACA requires employers with 50 or more employees to either offer health-insurance coverage or pay a penalty. Employers with fewer than 50 employees are exempt from this provision. However, the law includes a number of provisions intended to make it easier for small employers to obtain coverage for their employees, including insurance-market reforms, the Small Business Health Options Program (SHOP) or health-insurance exchanges, and small employer tax credits.
Obamacare also required that individuals have health-insurance coverage or pay a penalty, though the Tax Cuts and Jobs Act of 2017 eliminated the financial penalty for not having health insurance starting in 2019.
HRA effect
The EBRI issue brief also explores the future implications of the Trump Administration’s final rule to expand the use of stand-alone health-reimbursement arrangements (HRAs) by employers of all sizes.
HRAs are employer-owned and funded accounts that help workers pay for qualified medical expenses not covered by their health plans.
Under the final rule, employers would be able to offer a stand-alone HRA that employees could then use to purchase health insurance in the non-group market. The HRA would have to be used to purchase ACA-compliant plans and would have to meet ACA-affordability requirements in order for the employer to meet the shared-responsibility requirement.
The HRA would not be subject to ERISA if certain conditions were met and there is no limit to the amount of money that an employer can contribute to an HRA. ERISA is short for the Employee Retirement Income Security Act, “a federal law that sets minimum standards for most voluntarily established retirement and health plans in private industry to provide protection for individuals in these plans,” per the website of the U.S. Department of Labor.
The Trump Administration expects about 800,000 employers will offer stand-alone HRAs by 2024 and beyond. As a result, some 10.7 million individuals would be covered by such an HRA by 2027 and 6.8 million fewer workers (and their dependents) would have traditional employment-based health coverage.
“Ultimately, employers may decide that they no longer need to offer health benefits to be competitive in the labor market during the next recession, and the combination of the insurance-market reforms and the ability to give workers tax-free money to purchase health insurance on their own may finally put the future of employment-based health coverage to the test,” said Fronstin.
Contact Reinhardt at ereinhardt@cnybj.com
Employment Law Through the Philosophy of a Martial-Arts Practitioner
I [recently] found myself in a Brazilian jiu-jitsu class with a 250-pound, musclebound gentleman sitting on my chest trying to do rather unkind things to my neck and vulnerable joints. While this was certainly not the most opportune time to be thinking about how to parlay this situation into a blog article, it did occur to
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I [recently] found myself in a Brazilian jiu-jitsu class with a 250-pound, musclebound gentleman sitting on my chest trying to do rather unkind things to my neck and vulnerable joints. While this was certainly not the most opportune time to be thinking about how to parlay this situation into a blog article, it did occur to me that the crushing weight on my chest and the attendant loss of oxygen therefrom, is how many of my clients must feel in the day-to-day trenches of the modern-day digital world of human resources.
The situation also gave me pause to think about what life lessons I have learned from many years of training in different styles of martial arts (other than how to tape deformed fingers and that a bag of frozen peas works wonders on bruised ribs). Upon further reflection, I realized that I do in fact incorporate many of the philosophies that underlie martial arts into my employment-law practice. I share those pearls of wisdom below.
Bruce Lee
Any discussion of martial-arts philosophy simply has to start with a quote from Bruce Lee, who was in fact a philosophy major. While the Internet is replete with his sage musings, I think the most apt when it comes to human resources, is: “In the middle of chaos comes opportunity.” Now I have to confess that oftentimes it feels that the only thing that comes from being in the middle of chaos is more chaos and accompanying agita. But that really does not have to be so.
In this regard, there is no better time to practice responding to chaos than right now. The New York State Legislature has recently seen fit to pass a series of laws converting the employment laws into a bastion of frontier justice. Among other new laws, the severe and pervasive standard for a hostile work environment under the New York Human Rights Law has been eradicated in favor of the more liberal New York City Human Rights Law standard, the Faragher defense that had been available under the state law has been eliminated, and there is even a bill waiting for signatures that allows an employee to place a lien on an employer’s property upon the mere allegation of being underpaid.
This all begs the question: what possible opportunity could there be in the middle of this particular chaos? My initial knee-jerk reaction was that it presents the opportunity to pack our bags and move to the Carolinas. But let’s turn back to Mr. Lee for a second. If we take a deep breath, it becomes readily apparent that we have all survived legal pendulum swings, and alarms about the sky falling have invariably proved false. Take, for example, the abolition of the “severe and pervasive standard” in favor of New York City’s standard of something more than “petty slights” and “trivial inconveniences.” This actually does not mean strict liability. Courts have adjusted to this standard and made clear that the law is not a “civility code” and workplaces do not need to be sterile and devoid of humor.
The opportunity here is to shift focus away from attempting to walk legal tightropes, and focus more on collaboration, team building, and supervisory coaching. From my observations, and as cheesy as it sounds, we don’t see too many harassment complaints coming out of a collaborative workplace where everyone feels heard and respected. I have seen many employers successfully use coaches for supervisors whose gruff styles have previously led to complaints, and those employers now find a more productive and efficient environment. It also pays to make sure that all concerned understand that mere supervision is not harassment, and that expectations need not be delivered via an anvil.
At bottom, the way to deal with new chaos is to return to old fundamentals, but with a modern twist. Documenting files in the digital world is easy and expedient. Supervising the training can be pragmatic, yet entertaining, using multi-media. In other words, we can seize the opportunity to take control over all of this.
Brazilian Jiu-Jitsu
Brazilian Jiu-jitsu (BJJ) is the ultimate strategy game — a moving chess board if you will. But instead of your pawn being trapped, it’s your arms and legs. BJJ legend Saulo Ribeiro observed:
“Jiu-jitsu is the gentle art. It’s the art where a small man (or woman) is going to prove to you, no matter how strong you are, no matter how mad you get, that you’re going to have to accept defeat. That’s what Brazilian Jiu-jitsu is.”
I think every HR director should adopt this philosophy. Basically it translates to: when you walk into my office, no matter how hard you try to game the system, threaten me into giving you something you have not earned, or threaten me into excusing inexcusable behavior, you will not faze me and you will lose. The key here is to do this without looking angry or being angry. It’s all about a calm, confident effect. You’ve been there and done that. You’ve seen every trick, out-strategized every setup, and you are still standing.
Krav Maga
Krav Maga is the Israeli hand-to-hand combat system used by its military and known for its overwhelming and violent counter-attacks. It is not a sport — it is survival at its most primitive. Imi Lichtenfeld, the founder of Krav Maga, has been quoted as saying: “Krav Maga, so that one may walk in peace.”
Applicable here, HR executives need to be confident in their training, know how to avoid unnecessary and counterproductive confrontations, but know how to deploy all manner of overwhelming weaponry when subjected to unprovoked attacks (lawsuits). Take, for example, an employee who was fired for theft, fraud, or other serious misconduct. The employee nonetheless sues. All manner of reasonable efforts to make the employee withdraw the suit fail. Now what?
Know available counterstrikes. For example, counterclaim under the faithless servant doctrine, seek employer side fee shifting under 28 U.S.C. § 1927, and if misrepresentations are made by opposing counsel on state law claims, seek to treble the attorneys’ fees under Section 487 of the Judiciary Law.
Often times, an adversary will back off when threatened with these remedies. But if they don’t, Krav Maga.
Conclusion
You don’t need to wear a gi or be able to break boards to become a human-resources ninja (though I suppose it couldn’t hurt). But studying the philosophies of the combat arts actually could lead to never having to engage in litigation combat over workplace disputes. At a minimum, a confident and calm approach to solving human resources quagmires is not only the most effective, but also good for the psyche.
Howard M. Miller is a member (partner) of Bond, Schoeneck & King PLLC, a Syracuse–based law firm. Miller works from the firm’s Garden City office and is part of its labor and employment law practice. Contact Miller at hmiller@bsk.com. This article is drawn from Bond’s New York Labor and Employment Law Report blog.

Big I New York taps Lombardo as AVP of learning, development
DeWITT — Big I New York says Jim Lombardo has joined the association as its assistant vice president (AVP) of learning and development. Lombardo most recently served as chief operating manager at AmeriCU Insurance Services, LLC. Big I New York describes itself as the state’s oldest insurance producer trade association. Insurance agents and brokers are
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DeWITT — Big I New York says Jim Lombardo has joined the association as its assistant vice president (AVP) of learning and development.
Lombardo most recently served as chief operating manager at AmeriCU Insurance Services, LLC.
Big I New York describes itself as the state’s oldest insurance producer trade association. Insurance agents and brokers are commonly referred to as “insurance producers,” the organization said. Big I New York was previously known as the Independent Insurance Agents & Brokers of New York Inc. (IIABNY).
Lombardo will be responsible for expanding the association’s education and research offerings to meet the “needs and expectations of 21st century learning,” Big I New York said in a July 23 news release.
As AVP of learning and development, Lombardo will be teaching and supporting agents, along with helping the insurance industry develop new talent. Big I New York will offer classes and webinars, utilizing technology for “ease of registration and participation,” and reaching into schools and colleges to “encourage the next generation of insurance-agency personnel,” per its release.
“Simply put, I want Big I New York to be the first and only place where any independent agent goes for education, knowledge, research, and support,” Lombardo said. “Our education department will leverage our first-class research and government relations areas to create content our agent/members can use and apply to their everyday operations.”
Lombardo has more than 35 years of experience in the insurance industry, including serving as an adjunct instructor for Mohawk Valley Community College, Bryant and Stratton, Utica School of Commerce, Keuka College Accelerated Studies for Adults Program, Le Moyne College, and Big I New York, the organization said. He earned his bachelor’s degree from SUNY Geneseo and his MBA degree from SUNY Empire State College.
“Jim’s successful track record on the carrier and agency side coupled with his experience and passion for insurance education are unique,” Lisa Lounsbury, president and CEO of Big I New York, added in the release. “He is well positioned to understand the development needs within the industry and deliver on innovative ways to serve today and tomorrow’s learner.”
Big I New York says it works to represent the educational, political, and business interests of its more than 1,750 insurance agencies and their 13,000-plus employees.
Business Betrayals: Protecting Yourself From Workplace Treachery
Betrayal in business can come in many forms. A supervisor who gives specific directions for a project, then lays the blame squarely on you when things go awry. An employee who fails to inform you of a high-end client’s unhappiness, leaving you blindsided and feeling the CEO’s wrath when the client cancels a contract. In such scenarios,
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Betrayal in business can come in many forms. A supervisor who gives specific directions for a project, then lays the blame squarely on you when things go awry. An employee who fails to inform you of a high-end client’s unhappiness, leaving you blindsided and feeling the CEO’s wrath when the client cancels a contract.
In such scenarios, the person betrayed can feel angry, devastated and perhaps unsure whether to ever trust anyone again.
In all relationships we trust others, believing that while they will look out for their own best interest, they will also respect ours. Unfortunately, that’s not always so.
In business, there’s no guarantee that even a good friend or family member deserves your confidence.
Regardless of how well you know someone, treat any business arrangement with due diligence. Motives can be hidden, even with the best of friends.
So, how can business leaders and their employees avoid betrayals that can harm them and their organizations? And how should they handle the fallout if they are betrayed? We offer a few suggestions.
Learn to trust wisely. Blind trust can make you an easy target because you ignore the potential for human nature’s darker side. But it’s also ill-advised to assume no one can be trusted ever. What you’re after is “wise trust,” which allows you to weigh each situation, assessing whether there is low or high probability of betrayal.
Listen to what your gut tells you. So-called “gut feelings” act as an early warning system. Ignore those feelings at your own peril. Take the story of a woman named Ingrid, a chief finance officer in the public sector who was involved in the recruiting of a comptroller who came highly recommended. Ingrid preferred to handle reference checks herself, but that was HR’s job so she backed off, even though something told her this job candidate’s credentials were too good to be true. She shouldn’t have ignored her instinct because, after he was hired, the comptroller was charged with white-collar crimes committed in another state. For Ingrid, this became a triple betrayal — by colleagues who tried to make her the scapegoat, by HR, who didn’t perform a thorough background check, and, of course, she was betrayed by the man she hired.
Don’t seek revenge immediately — if at all. Planning revenge continues to provide the betrayer with power over you rather than allowing you to take that power into your own hands. It’s more productive to distance yourself from the betrayal and shore up your emotions with rational thoughts.
If you are betrayed, there is no need to beat up on yourself. It is critical to recognize that what you are feeling is completely normal. If you blow the event out of proportion, exaggerating its impact on all aspects of your life, you’ll only postpone your recovery.
The key to moving forward is self-compassion. Get yourself to a safe space, both physically and emotionally, and get some sleep.
Reactions to stress differ. So, don’t worry if your immediate reaction includes anger. Try to balance it and take the energy to hold onto your power. Surround yourself with friends. Have the courage to move forward and leave the past behind. Learn to pivot. We discovered that the formula for success is creating a new positive, self-confidence about work and informed risk taking.
Elaine Eisenman, Ph.D. and Susan Stautberg are co-authors of “Betrayed: A Survivor’s Guide to Lying, Cheating, & Double Dealing.” Eisenman is the managing director of Saeje Advisors, LLC, an advisory firm for high-growth ventures. Stautberg is a governance advisor to the portfolio companies of Atlantic Street Capital, a private-equity firm. She is also president and CEO of PartnerCom Corporation and chair emeritus of the WomenCorporateDirectors (WCD) Education and Development Foundation.
SUNY Cortland appoints new director of career services
CORTLAND — SUNY Cortland recently announced that it appointed Nan Pasquarello as its new director of career services. She took over the position at the end of June when John Shirley, long-time career services director, retired. In her new role, Pasquarello works with SUNY Cortland academic faculty, other professional staff, and key outside stakeholder groups
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CORTLAND — SUNY Cortland recently announced that it appointed Nan Pasquarello as its new director of career services.
She took over the position at the end of June when John Shirley, long-time career services director, retired.
In her new role, Pasquarello works with SUNY Cortland academic faculty, other professional staff, and key outside stakeholder groups to expand and maintain an employer-recruitment network while developing and maintaining internships for students and job opportunities for graduates, the university said in a news release. She also leads the use of communication technology and effective data collection, analysis, and reporting systems to achieve the Division for Student Affairs’ career services goals.
Pasquarello previously served as the university’s Title IX coordinator since 2015. In that role, she oversaw efforts to comply with and carry out the federal law intended to fight sex discrimination.
In all, she has worked at SUNY Cortland for 24 years. Her other positions have included director of student conduct and career counselor/technical support specialist.
Pasquarello is a graduate of Binghamton University with a dual bachelor’s degree in English and geography and a master’s degree in public policy analysis and administration. She has also completed doctoral coursework in the Syracuse University higher-education program.
In the community, Pasquarello served on the Cortland YWCA board of directors from 2011 to 2018 and is the current past board president. In her spare time, she plays flute with the SUNY Cortland Community Orchestra, the release stated.

Report: New York leads U.S. in nonprofit jobs & wages
ALBANY — Nonprofits are “essential” in upstate New York regions such as the Mohawk Valley and the Southern Tier where nearly one in four private-sector jobs was at a nonprofit in 2017. In addition, wages paid by nonprofits were higher than other private-sector employers in five of New York’s 10 regions. That’s according to a
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ALBANY — Nonprofits are “essential” in upstate New York regions such as the Mohawk Valley and the Southern Tier where nearly one in four private-sector jobs was at a nonprofit in 2017.
In addition, wages paid by nonprofits were higher than other private-sector employers in five of New York’s 10 regions. That’s according to a report that State Comptroller Thomas DiNapoli released July 23.
The report found that New York state led the nation in nonprofit employment with more than 1.4 million jobs and total wages of just over $78 billion in 2017. However, nonprofit job growth in the rest of the U.S. surpassed New York.
New York’s nonprofit organizations helped stabilize employment during and after the Great Recession, DiNapoli’s office contended in the report.
Other report findings
Nonprofit entities added more than 175,000 jobs in New York between 2007 and 2017, a gain of 14 percent. These organizations provided 17.8 percent of New York’s private-sector employment in 2017, compared to 10.2 percent nationwide, ranking third behind Vermont and Maine.
Nonprofit jobs grew faster than the rest of the private sector in most New York regions in the latter half of this decade.
“Nonprofits play an important role in every region of New York, delivering vital services to New Yorkers, from hospital care and education to legal services and environmental protection,” DiNapoli said. “They also have a measurable impact on our economy, providing one in every six private-sector jobs statewide.”
Wages at nonprofits have also grown at a faster pace statewide than the rest of the private sector and the public sector in the period that the reports covers. The annual average wage was $55,572 per employee, ranking New York eighth in the nation on that measure in 2017. Nonprofit wages varied widely, with educational services having the highest average annual wage at just over $65,000. Social-assistance industries, including home-care aides and child-care workers, had the lowest, at just over $30,500.
Health care — the largest nonprofit industry — along with education and social assistance, represented more than 81 percent of all nonprofit jobs in New York state in 2017. Other industries with large employment numbers include professional services, arts and entertainment, as well as religious, civic, and social-advocacy organizations.
So You’re Not The Boss? Here’s How You Can Still Be A Leader
Are leaders born or are they developed? It’s a subject that’s long been debated. And in the workplace, can an employee who holds no supervisory job title be an effective leader — before being entrusted with managing people? I say yes, and that it’s almost mandatory if someone hopes to be ready as a leader
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Are leaders born or are they developed? It’s a subject that’s long been debated.
And in the workplace, can an employee who holds no supervisory job title be an effective leader — before being entrusted with managing people?
I say yes, and that it’s almost mandatory if someone hopes to be ready as a leader when promoted to a bigger role in an organization.
Leadership is a choice. It’s not a title, position, or rank. You don’t have to be a department head, manager, or CEO to be a leader.
Leadership is a group of characteristics, and you can acquire them even if you’re not the boss. You’ll never be a leader when you assume that primetime role unless you have developed the qualities of leadership as part of your preparation for the next big step.
Here are five ways to become a leader at a company without holding a leadership-type position.
Listen to others’ ideas. Leadership is about others, not about the self, and it starts with listening. Being a leader isn’t putting yourself above others, interrupting them, or acting like your ideas are more important than anyone else’s. True leadership brings out the best in others and your culture, and you do that by making them feel valued and giving them a voice.
Be accountable for mistakes. Own your errors. It sets an example of accountability that is good for the culture. Too many people, when told of a mistake, assign blame and make excuses. A leader corrects constructively and surveys for solutions. As a subordinate, staying positive and offering ways to fix your mistake, and showing the humility of asking for help, is a path toward being a leader people can trust.
Learn flexibility. This applies in so many ways. If you’re stuck on doing something one certain way, you’re headed toward being a micromanager who few would like and fewer would want to work under. Leadership is about tapping into your broad base of workplace talent, expanding knowledge, improving systems, and raising the ceiling.
Interact and network. Networking isn’t only about finding jobs, it’s about connecting with people in a way that enhances important relationships and the work environment. As you learn to interact with different types in the workplace, you’ll learn which relationships are most effective, how to help those people with their career, and show your ability to direct and lead.
Develop a thick skin. To become a leader, it’s vital to rise above annoyances and petty slights from others and let them roll off your back. HR isn’t the principal’s office, and if you vent every time about someone doing something irritating, you’ll get the reputation of being a whiner. Don’t complain behind closed doors, gossip, or criticize people behind their backs. No one who does those things can be viewed as a leader.
People want to be led. But they don’t want to be bossed around. Great leaders can learn this as underlings on their way to a management position. Then when they get there, they’re ahead of the game — and everyone is in step with them.
Grant Parr is a mental sports performance coach and the author of “The Next One Up Mindset: How To Prepare For The Unknown.” Parr owns and runs Gameface Performance, a consulting firm that enhances mental skills for athletes and coaches.

Five Star Bank adds two commercial lenders
WARSAW, N.Y. — Five Star Bank, subsidiary of Financial Institutions, Inc. (NASDAQ: FISI), on July 22 announced the hiring of Thomas A. Halter and Marytherese Hayes, each as VP, senior commercial banker. Halter and Hayes are responsible for managing and cultivating existing and new commercial banking customers across the bank’s operating footprint, the bank said
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WARSAW, N.Y. — Five Star Bank, subsidiary of Financial Institutions, Inc. (NASDAQ: FISI), on July 22 announced the hiring of Thomas A. Halter and Marytherese Hayes, each as VP, senior commercial banker.
Halter and Hayes are responsible for managing and cultivating existing and new commercial banking customers across the bank’s operating footprint, the bank said in a news release. Halter is based in Five Star Bank’s regional administrative center in downtown Rochester and Hayes’ office is in the bank’s commercial lending offices at 300 Spindrift Drive in Amherst.
Halter is an experienced banker and financial executive, having served as a VP and relationship manager in commercial banking for HSBC Bank USA for more than a decade before transitioning to the role of CFO for Nymat Machine Tool Corp. He most recently served as CFO for R.W. Dake & Co., Inc., the bank said.
Hayes is “a well-known and respected commercial banker” in Western New York with more than 30 years of experience at Bank of Akron, RBS Citizens Bank, and HSBC Bank USA, the release stated. She most recently served as VP and commercial relationship manager at Evans Bank.
Halter received a bachelor’s degree in accounting from Le Moyne College in Syracuse and an MBA from Canisius College in Buffalo. Hayes received a bachelor’s degree in business studies from Buffalo State College.
Five Star Bank, based in Warsaw in Wyoming County, has more than 50 branches throughout Western and Central New York. Its CNY branches include offices in Auburn, Geneva (2), Seneca Falls, Elmira (2), and Horseheads.
Financial Institutions and its subsidiaries employ about 700 people.

Could You Outlive Your Retirement Funds?
3 ways to strategize with a fiduciary People are living longer, and as wonderful as that news is to many, there is a possible downside: outliving your money in retirement. It’s a very large fear that many people have today. Most retirement plans have not incorporated the longevity risk. And without mitigating that, many middle-class
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3 ways to strategize with a fiduciary
People are living longer, and as wonderful as that news is to many, there is a possible downside: outliving your money in retirement.
It’s a very large fear that many people have today.
Most retirement plans have not incorporated the longevity risk. And without mitigating that, many middle-class retirees could exhaust their 401(k)s and be left with only Social Security and a little equity in their homes.
The financial worries about retirement and the planning options can be overwhelming. One of the concerns people have is getting appropriate advice and finding a financial advisor who puts the client’s interests above his or her own. That type of retirement planner is defined as a fiduciary, and according to a survey by Financial Engines, 93 percent of Americans think financial advisors who provide retirement advice should be fiduciaries — legally required to put their clients’ best interest first.
On the other hand, 53 percent of those respondents mistakenly believe that all financial advisors are fiduciaries.
Trust is imperative, especially where a client’s retirement is concerned. An advisor working as a fiduciary is held to a high standard of honesty and full disclosure to the client. And there are three critical aspects of retirement planning in which a fiduciary can help guide the client to both protect their retirement assets and prosper.
Those three areas are:
Reduce sequence-of-return risks. This refers to the order of annual investment returns, and it becomes a concern for retirees who are living off the income and capital of their investments. The danger comes when an investor receives lower or negative returns due to withdrawals made from their investment. The timing of taking those returns impacts wealth. A planner who’s a fiduciary has multiple ways to reduce sequence-of-returns risk by allowing the portfolio to stay ahead of inflation. You utilize other income-producing vehicles in the portfolio.
Prioritize a tax plan. Understand that in retirement you’re creating your own income from qualified money — money that’s never been taxed before. It’s vital to have a tax plan that can fit into your portfolio. For example, the required minimum distributions (RMD) at age 70½ is something many people are not prepared for in terms of tax impact. The RMDs have never been such a concern in our economy than they are now, because such a large percentage of baby boomers are over 70½. Having a reallocation plan or a Roth-conversion conversation is important to avoid higher tax burdens.
Create an estate plan. Procrastination is an obstacle for many when it comes to estate planning, and it’s important to differentiate between a will, which goes through probate, and a trust. Understand how those things fit in the portfolio, and the difference between live-on money and leave-behind money. You need to establish goals for the assets. A lot of people want to leave a legacy, but they don’t know how large, or how, or when. A fiduciary can help you leverage technology and look at a realistic rate of return, based on your projected longevity.
Having all these planning tools under a full-service fiduciary roof is powerful, because the baby boomer generation doesn’t like change. They need a sense of security before reaching retirement; solid options to make their financial fears and uncertainty go away.
Alexander Joyce is CEO and president of ReJoyce Financial LLC (www.ReJoyceFinancial.com), a full-service retirement-income planning firm, and author of the book: “ReJoyce In Your Retirement: Everything You Need To Know To Get Everything You Want.”
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