CNYBJ CALENDAR:
September 1 Special Report: Energy/ Environment/Sustainability/Manufacturing
September 1 List: Manufacturers (100 employees or fewer)
September 8 Special Report: Employee Benefits/HR/Insurance
September 8 List: Risk-Management Providers
September 15 Special Report: VeteranOwned Businesses NEW!
September 15 List: Certified DisabledVeteran Businesses
September 22 Special Report: Health Care Quarterly
September 22 List: Hospitals and Health Systems
September 29 Special Report: Revitalize Syracuse Feature Publication
October 6 Special Report: Cybersecurity
October 6 List: Document-Management Companies
October 13 Special Report: Law/ Accounting/Taxes
October 13 List: Largest Employers
October 20 Special Report: Construction/Sub-Contractors
October 20 List: Commercial Builders & Contractors
October 27 Special Report: Manufacturing Directory
October 27 List: Web-Design Companies
November 3 Special Report: Banking & Credit Union Report
November 3 List: Banks
November 10 Special Report: Resources for Small Business/Education
November 10 List: Chambers of Commerce
November 17 Special Report: Manufacturing/High-Tech/Incubators
November 17 List: Nursing Programs
November 24 Special Report: Employee Benefits/HR/Insurance
November 24 List: Commercial RealEastate Firms
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CNYBJ BRIEFS
New York farmland values rise about 4 percent this year, USDA reports
The value of farmland in New York state continues to increase and at a faster pace than the Northeast region of the U.S. overall, according to a recent report from the USDA National Agricultural Statistics Service (NASS).
The farm real estate average value per acre in the state is estimated at $4,300 this year, up 3.6 percent from $4,150 in 2024, per the Aug. 1 NASS report. The cropland
Utica Royalties
average value per acre in the Empire State is pegged at $4,010 in 2025, up 4.2 percent from $3,850 last year, according to NASS.
In the Northeast region of the U.S., farm real estate average value per acre rose 3.3 percent to $7,300 this year from $7,070 in 2024, the USDA reports. The cropland average value per acre in the Northeast edged up 2.7 percent to $7,900 in 2025, up 2.7 percent from $7,690 last year, the agency said.
appoints Peters as executive director to ignite youth empowerment and community support
UTICA — Utica Royalties — a nonprofit empowering youth through arts, culture, and wellness — recently announced the appointment of Hawa Peters as its new executive director.
“Peters, the visionary founder of the organization, returns with renewed purpose to lead a movement that uplifts young voices, supports families, and strengthens the community through creativity, confidence, and connection,” the Utica–based organization said in its mid-July email announcement.
Since its start in 2021, Utica Royalties says it has blossomed into a sanctuary where youth from all walks of life come to dream, express, and grow without limits, the organization contends.
“At Utica Royalties, we don’t just teach skills — we spark transformation,” said Peters. “I believe in the power of art and culture to heal, inspire, and ignite hope. I believe in our youth as leaders, creators, and change-makers. And I believe this community can come together to lift every young person to heights they never
imagined.”
Through programs like Afro Hip-Hop dance, swimming lessons, creative writing, computer literacy, wellness workshops, and more, Utica Royalties says it offers opportunities for holistic growth. These programs are designed not only to teach skills, but also to build self-worth, resilience, and a sense of belonging.
“Utica Royalties isn’t just for kids — it supports parents and the whole community. It’s a great place to find help when you need it. They’re always there to lift you up,” Christina Edwards, community member, said in the announcement.
Utica Royalties’ recent programs included a talent show it held on Aug. 16. It was billed as an opportunity for area youth to showcase their gifts, ranging from singing and dancing to poetry and performance, in front of a live audience and panel of judges.
Jefferson County hotels see small drop in key benchmarks in July
WATERTOWN — Jefferson County hotels saw slightly fewer overnight guests in July, as two other important business indicators also registered small declines during the month.
Adam Rombel Editor-in-Chief arombel@cnybj.com 315.579.3902
Eric Reinhardt Staff Writer
ereinhardt@cnybj.com
315.579.3915
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the North Country’s most populated county dipped 0.3 percent to 67.2 percent in the seventh month of 2025, compared to a year prior, according to STR, a Tennessee–based hotel market data and analytics company. Year to date through July, occupancy fell 3.6 percent to 48.5 percent.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, slipped 0.4 percent in Jefferson County to $91.76 in July, compared to July 2024. In the first seven months of this year, RevPar was down 3.3 percent to $57.67.
The average daily rate (ADR), which represents the average rental rate for a sold room, inched down 0.2 percent to $136.63 in July from the same month in 2024, per STR. Year to date through July 31, ADR was up 0.3 percent to $118.93.
Syracuse Auto Dealers Association elects officers for the coming year
SYRACUSE — The Syracuse Auto Dealers Association, a membership organization for car dealers in Central New York, announced that its board of directors recently elected officers for the coming year. The officers, and their affiliations, are as follows:
• President — Richard Burritt (RM Burritt Motors, Rich Burritt Motors, Oswego)
• Vice-President — Stephen Byer (Alan Byer Auto Sales, Syracuse)
• Secretary — Anthony Lamacchia (Lamacchia Honda, Syracuse)
• Treasurer — Matthew McNerney (Jack McNerney Chevrolet, Tully)
Additionally, the board has added Michael Van Brunt, of the Matthews Auto Group, as a new member of the board.
The Syracuse Auto Dealers Association was founded in 1907. The organization stages the annual Syracuse Auto Expo and the fundraising event, the Charity Preview, held annually on the night before the auto show opens.
The 117th Syracuse Auto Expo will be held Feb. 12-15, 2026 at the Oncenter in downtown Syracuse. The 27th Charity Preview will be held on Wednesday, Feb. 11. The event has generated more than $5 million for local charities since its inception. The Syracuse Auto Dealers Association is headquartered at 770 James St. in Syracuse.
New York corn production projected to fall nearly 11 percent this year
New York farms are forecast to produce 86.1 million bushels of corn for grain in 2025, down 10.6 percent from 96.3 million bushels last year. That’s according to a USDA National Agricultural Statistics Service (NASS) crop-production forecast based on Aug. 1 field conditions.
The total yield per acre in the Empire State is estimated to average 158 bushels this year, down 11 bushels per acre, or 6.5 percent, from 169 bushels in 2024, the USDA NASS said. Area harvested for grain corn is projected at 545,000 acres in 2025, down 4.4 percent from 570,000 acres a year earlier.
New York’s expected decline in corn production is bucking the national trend as the USDA is forecasting a bountiful, record corn harvest this year. U.S. corn production for grain is estimated to jump 12.6 percent to 16.74 billion bushels in 2025 from nearly 14.87 billion bushels in 2024, the USDA reported.
Broome County hotels post solid business gains in July
BINGHAMTON — Broome County hotels registered a slight rise in overnight guests in July, as two other benchmarks of business performance increased significantly more in the month.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county edged up 1.8 percent to 75.4 percent in the seventh month of 2025, compared to July 2024, according to a report from STR, a Tennessee–based hotel market data and analytics company. Year to date through July, occupancy was
down 1.6 percent to 59 percent.
Revenue per available room (RevPar), an industry gauge that measures how much money hotels are bringing in per available room, jumped 8.9 percent to $103.78 in July versus the year-prior month. In the first seven months of this year, RevPar was higher by 4.2 percent to $73.46.
The average daily rate (ADR), which represents the average rental rate for a sold room, shot higher by 6.9 percent in Broome County to $137.59 this July, compared to the same month a year earlier. Through July 31, ADR increased 5.9 percent to $124.46.
Peters
Grants available for womenowned businesses in Oneida, Herkimer counties
Apply by end of September
BY ERIC REINHARDT ereinhardt@cnybj.com
CLINTON — Women–owned businesses in Oneida and Herkimer counties have until the end of September to apply for grant funding worth $5,000, with a total of five awards available.
The Women’s Fund of Herkimer and Oneida Counties in cooperation with Baird Private Wealth Management and the Griffiss Institute are sponsoring the “Women Investing in Women” grants.
Eligible businesses must be at least 51 percent women–owned and have been in existence for one year or more. The deadline for applying is Sept. 30. The application is available at www.womensfundhoc.org.
The Women’s Fund began the Women Investing in Women initiative in 2022 and has awarded 14 grants of $5,000 each,
Survey finds 7 in 10 managers compare supervising Gen Z to babysitting or parenting
BY VANCE MARRINER vmarriner@cnybj.com
Almost seven in ten (68 percent) of U.S. managers say managing Gen Z employees feels like parenting, and more than half (54 percent) compare it to babysitting.
That’s according to a recent survey from the job-seeker-resource website ResumeTemplates.com. Additionally, a majority (61 percent) of survey respondents reported that Gen Z workers require frequent hand-holding, and 52 percent said they struggle to follow basic instructions.
The survey, commissioned by ResumeTemplates.com, was conducted by Pollfish in July 2025 among 1,000 workplace managers in the U.S. who supervise Gen Z workers.
A key insight from the study was the managers’ widespread belief that Gen Z lacks basic workplace skills. Nine out of ten respondents said they have had to teach their young employees foundational
for a total of $70,000 to women–owned businesses in Oneida and Herkimer Counties.
“Supporting women-owned businesses in our area has proven to be a welcome addition to the work of The Women’s Fund,” Ellen Rainey, VP of the Women’s Fund board of directors and the committee chair for the grants, said in the announcement. “Each year the number of applicants continues to increase, and we are hoping we get an even greater response this year. Even if applicants have applied in the past and not received the grant, we encourage the women to apply again. This initiative has brought local women-owned businesses together. They are supporting and helping each other grow.”
The five grants of $5,000 will be awarded in November. Recipients may use the money for equipment, hardware/software, consulting services, training, education, and marketing.
Milwaukee, Wisconsin–based Baird Private Wealth Management, which has an office in New Hartford, is a major contributor to the grant initiative, the Women’s Fund said. Baird has been a supporter since the grant initiative began.
The Griffiss Institute is also a partner.
The Women’s Fund of Herkimer and Oneida Counties is based at 2 Williams St. in Clinton. Its mission is to create eco-
nomic, educational, and personal growth opportunities for women of all ages, and encourage their advancement and full participation in the community, according to its website. It is a volunteer-driven organization sustained solely by donor contributions and led by women who are committed to creating a movement to change the lives of women and girls in its area. n
Workplace Skills Managers Say They've Had to Teach Gen Z Employees
Accepting constructive feedback
Interacting appropriately with others
Multi-tasking
Admitting mistakes professionally
Setting realistic deadlines
Managing workplace conflicts
Managing emotions at work
Dressing appropriately
Writing proper emails
Behaving professionally in meetings
skills. The most commonly cited skills were:
• Accepting feedback without taking it personally (59 percent)
• Interacting appropriately with clients and coworkers (46 percent)
• Multitasking effectively (45 percent)
• Admitting mistakes professionally (42 percent)
• Dressing appropriately for work (36 percent)
Significant numbers of managers also reported needing to remind Gen Z workers about routine concerns such as arriving on time (48 percent), completing assignments on time (46 percent), putting their phones away (41 percent), and making eye contact during conversations (38
percent).
In response to an open-ended question, managers described working with Gen Zers. The responses included these two comments:
• “It has been exhausting. Most of the time I feel like a babysitter trying to teach children lessons they refuse to learn. The worst challenges are time management and staying off their phones.”
• “This generation of workers is like nothing I’ve ever seen before. They are adults who still act like teenagers.”
Julia Toothacre, a chief career strategist at ResumeTemplates.com, posited some possible reasons for the management challenges presented by Gen Z, saying, “Gen Z’s entry into the workforce
looked really different from previous generations because of the pandemic. Many missed out on in-person training and onboarding.”
“Organizations need to do more to support managers, otherwise they risk burnout, frustration, and disengagement,” Toothacre said of the workplace problems caused by the increasing supervisory demands. “One solution is better group training, so managers share in the workload. Additionally, college prep courses and internships can help prepare Gen Zers.”
A full summary of the survey’s findings are available at: https://www.resumetemplates.com/7-in-10-managers-liken-supervising-gen-z-to-babysitting-or-parenting/ n
Pictured are the winners of the 2024 Women Investing in Women grants provided by The Women’s Fund of Herkimer and Oneida Counties, in cooperation with Baird Private Wealth Management and the Griffiss Institute. Applications for the 2025 edition of the grants are due by Sept. 30.
PHOTO CREDIT: THE WOMEN’S FUND WEBSITE
Rainey
Agreement gives TC3 graduates a transfer path to Cornell CALS
BY ERIC REINHARDT ereinhardt@cnybj.com
DRYDEN — A new articulation agreement will provide graduates of TC3 in Dryden a direct-transfer path to the College of Agriculture and Life Sciences (CALS) at nearby Cornell University.
Amy Kremenek, president of Tompkins Cortland Community College (TC3), and Benjamin Houlton, dean of Cornell’s College of Agriculture and Life Sciences, participated in an Aug. 7 ceremony to sign the pact between the two institutions.
“There is a strong legacy of collaboration between TC3 and Cornell. We know that Cornell is the dream for many of our students, and this agreement formalizes what we have always known to be true: that dream can be reality,” Kremenek said in the TC3 announcement. “This creates a clear, achievable pathway for students to start strong at TC3 and earn a degree from an Ivy League university.
I applaud the efforts of TC3’s faculty and am grateful to our colleagues at Cornell for creating this tremendous opportunity for our students.”
Students start in the sustainable farming and food systems program at TC3, completing coursework at the TC3 Farm that will help them learn sustainable-agriculture practices, food systems, and related business concepts. After completing their associate degree with a minimum GPA of 3.0 and a B or better in all transfer courses, they will receive priority consideration for transfer admission to CALS for the agriculture sciences bachelor’s program.
At CALS, they will work to further their knowledge and skills in areas including crop and soil sciences, animal sciences, agriculture economics, and food science, TC3 said.
“We are proud to partner with SUNY and TC3 to expand access and opportunity for New York state students,” Houlton, the Ronald P. Lynch dean of CALS, said.
Rise in orders, shipments sends N.Y. manufacturing index higher
BY ERIC REINHARDT ereinhardt@cnybj.com
An increase in New York manufacturing activity in the last few weeks has a monthly index at its highest level since November 2024.
The general business conditions index of the Empire State Manufacturing Survey rose 6 points to 11.9 in August. That followed up a 22-point jump in the index in July to bounce back into positive territory.
The general business conditions index is the monthly gauge of New York’s manufacturing sector. Based on firms responding to the Empire State Survey, the August reading indicates business activity “grew modestly” in New York state, the Federal Reserve Bank of New York said in its Aug. 15 report.
A positive index reading indicates expansion or growth in manufacturing activity, while a negative index number points to a decline in the sector.
The August survey found both new orders and shipments increased. In addition, inventories declined after growing in July, and supply availability “worsened
somewhat.” Capital-spending plans were “soft.” Manufacturing firms in the Empire State expect conditions to improve in the months ahead, though “optimism diminished” compared to last month, the New York Fed said.
The August reading of 11.9 for the general business conditions index beat analysts’ expectations of a slightly negative index number for the month.
Survey details
The new-orders index rose 13 points to 15.4, and the shipments index held steady at 12.2, pointing to increases in both orders and shipments, the New York Fed said.
Unfilled orders edged lower. After rising sharply in July, the inventories index retreated 22 points to -6.4, “indicating that business inventories shrank.” Delivery times were “significantly longer,” and supply availability was “somewhat worse.”
The index for number of employees remained positive at 4.4, pointing to a slight increase in employment, and the average-workweek index came in at around zero, suggesting that hours
“This new articulation agreement reflects our Land-Grant mission and shared commitment to building strong academic pathways for students, in service of all New Yorkers. By welcoming TC3 transfer students into our community, we’re investing in the next generation of agricultural and life sciences leaders—offering them access to world-class research, hands-on
General Business Conditions
learning, and real-world impact that can spark innovation and improve lives here at home and around the world.”
Through its longstanding partnership with Cornell CALS, TC3 said it plays a “vital role in preparing students for seamless transfer” into programs that advance New York’s agricultural and life-sciences sectors. n
worked held steady.
The prices-paid index was little changed at 54.1, a sign that input price increases “remained steep,” while the prices-received index edged down to 22.9, suggesting that selling price increases “remained moderate,” the New York Fed said.
The index for future general business conditions fell 8 points to 16.0, suggesting that businesses expect activity to increase in the months ahead, but firms were less optimistic than they were the previous month.
CNY jobless rates fall in July compared to a year ago
BY ERIC REINHARDT ereinhardt@cnybj.com
The unemployment rates in the Syracuse, Utica–Rome, Watertown–Fort Drum, Binghamton, Ithaca, and Elmira regions were all lower in July compared to the same month in 2024.
The figures are part of the latest New York State Department of Labor (NYSDOL) unemployment data released on Aug. 19.
Regional unemployment rates
The jobless rate in the Syracuse area declined to 3.7
percent in July 2025 from 3.9 percent in the prior July.
Around the region, the Utica–Rome region’s unemployment rate fell to 3.9 percent from 4.0 percent; the Watertown–Fort Drum area’s number dipped to 4.1 percent from 4.3 percent; the Binghamton region’s rate edged down to 4.1 percent from 4.2 percent; the Ithaca area’s jobless number hit 3.6 percent, down from 3.8 percent; and the unemployment rate in the Elmira region fell to 3.7 percent in July from 4.0 percent in the same month in 2024.
The local unemployment data isn’t seasonally adjusted, meaning the figures don’t reflect seasonal influences such as holiday hires. The unemployment rates are calculated following procedures prescribed by the U.S. Bureau of
New orders and shipments are expected to increase. Two-thirds of respondents expect input prices to pick up further over the next six months. Capital spending plans were “soft.”
The Federal Reserve Bank of New York distributes the Empire State Manufacturing Survey on the first day of each month to the same pool of about 200 manufacturing executives in New York. On average, about 100 executives return responses. n
Labor Statistics, the state Labor Department said.
State unemployment rate
New York state’s seasonally adjusted unemployment rate held constant at 4.0 percent in July 2025, compared to June 2025, according to preliminary figures that NYSDOL released.
New York’s July unemployment rate was lower than the U.S. unemployment rate of 4.2 percent in the same month.
The July statewide unemployment figure of 4.0 percent was down from the 4.4 percent figure reported in July 2024, according to department figures.
The federal government calculates New York’s unemployment rate partly based upon the results of a monthly telephone survey of 3,100 state households that the U.S. Bureau of Labor Statistics conducts. n
Benjamin Houlton, dean of Cornell University’s College of Agriculture and Life Sciences, and Amy Kremenek, president of Tompkins Cortland Community College (TC3), on Aug. 7 signed a new articulation agreement at the TC3 campus in Dryden.
WEBSITE
Development work starts on new fire station on Binghamton’s north side
BY ERIC REINHARDT ereinhardt@cnybj.com
BINGHAMTON — Work is underway on a project to develop a new fire station on the north side of Binghamton.
Built in 1960, the current north side fire station at 39 West State St. is nearing the end of its useful life, the office Binghamton Mayor Jared Kraham said. It’s estimated that repairs to the building would cost millions of dollars.
“We’re advancing plans to create a neighborhood anchor and state-of-the-art public safety facility — the North
Side deserves it,” Kraham said in the announcement.
“With a multi-year approach, we’ll work to secure state and federal grants to ease the burden on Binghamton taxpayers. From new fire apparatus to facilities, this administration is steadfast in our support of first responders and the lifesaving work they do.”
Kraham first announced plans to build a new fire station to serve the city’s north side last fall in his 2025 budget address, his office noted.
Following a public request for qualifications process this past spring, the City of Binghamton hired CPL of
DEC and New York Sea Grant announce nearly $200,000 in Great Lakes Basin small grants project awards
BY JOURNAL STAFF
news@cnybj.com
The New York State Department of Environmental Conservation (DEC) and New York Sea Grant recently announced $199,696 in grants for five Great Lakes basin projects.
The initiatives support local community plans to restore water quality, protect ecosystems, and strengthen community resilience and stewardship. These selected projects support measurable progress toward the priority goals of the Great Lakes Action Agenda for New York’s Great Lakes watershed.
“New York’s Great Lakes Basin Small Grants support local science-based projects that restore habitats, combat invasive species, and engage communities while strengthening the resilience of our shared environment and the State’s economy,” DEC Commissioner Amanda Lefton said in the announcement. “Through partnerships like this with New York Sea Grant, DEC is advancing the goals of the Great Lakes Action Agenda and delivering real, measurable results.”
New York’s Great Lakes Basin Small Grants program has awarded more than $2 million in small grants to date for a combined total of 66 projects since the program’s inception in 2015. The five projects selected for this round of New York’s Great Lakes Basin Small Grants funding
included three projects in Western New York and two in Central New York (Jefferson County and Oswego County).
The two Central New York projects are as follows.
Cornell Cooperative Extension of Jefferson County: $40,000 for “Seeds of Stewardship: Community-Based Native Seed Network for the Northeast Lake Ontario and St. Lawrence River Region” to launch a native seed collection and propagation program across Jefferson, Lewis, and St. Lawrence counties. The project will train volunteers, develop local seed storage and propagation infrastructure, and utilize native plant material to support habitat restoration and resilience.
Atlantic States Legal Foundation: $39,943 for “A Community-Driven Tree Planting Initiative for Adaptation and Revitalization in Pulaski” to engage residents and partners in planning and planting more than 70 trees in priority locations throughout the village of Pulaski, reducing risks such as flooding and heat stress, enhancing ecosystem services, and supporting long-term environmental stewardship, per the announcement. Guided by the RichlandPulaski Comprehensive Plan and Climate Action Plan and three inclusive community workshops, residents and local partners will help identify strategic planting locations, develop site-specific plans, and learn about the social, ecological, and economic benefits of trees.
New York Sea Grant, a cooperative program of Cornell
Vestal to provide professional design services for the predevelopment portion of the north side fire-station project.
In June, Binghamton City Council authorized Kraham to enter into an agreement with CPL for predevelopment services, expected to cost $100,000. CPL will work with the Binghamton Fire Department and other city officials on building and site programming, site selection, and conceptual design of the new facility.
A task force from the fire department — including Chief Alan Gardiner, Assistant Chief Thomas Edwards, and Captain David Holleran — is helping the predevelopment team in studying emergency response time and call volume data to make a data-driven decision regarding the location of the new station, the City of Binghamton said.
The work will also support the city in preparing competitive grant applications to fund the final design and construction of the new station, per the announcement. n
University and the State University of New York, administers the program in partnership with DEC’s Great Lakes Program. The program is funded through the New York State Environmental Protection Fund (EPF) and Article 14: the New York Ocean and Great Lakes Ecosystem Conservation Act outlined in the EPF. The 2025-26 enacted state budget increases the EPF to a record $425 million, helping support critical environmental programs such as land acquisition, farmland protection, invasive-species prevention and eradication, enhanced recreational access, water-quality improvement, and “an aggressive environmental justice agenda,” the DEC said.
More information on the New York’s Great Lakes Basin Small Grants program with past project profiles is available online at: nyseagrant.org/glsmallgrants. Those interested can learn more about the New York’s Great Lakes Action Agenda that applies ecosystem-based management to conserve, protect, and enhance New York State’s Great Lakes natural resources on DEC’s website: dec.ny.gov/nature/waterbodies/lakes-rivers/greatlakes/action-agenda. n
LEFT: Binghamton Mayor Jared Kraham addressing reporters in December 2024.
A map outlining the Great Lakes Basin with grant recipients indicated with yellow stars.
Picente calls Oneida County’s 5-year agricultural plan a bold step
BY ERIC REINHARDT ereinhardt@cnybj.com
UTICA — Oneida County’s five-year agricultural strategic plan focuses on strengthening the region’s agricultural economy, protecting farmland, and expanding opportunities for farmers and agribusinesses across the county.
“This plan is a bold step toward ensuring that agriculture remains a cornerstone of Oneida County’s economy and identity,”
Oneida County Executive Anthony Picente, Jr. contended in describing the 2025-2030 agricultural strategic plan, which was released July 31. “We are not just
preserving farmland — we are building a system that supports our farmers, grows our food economy, connects our communities and makes Oneida County a model for agricultural innovation and resilience.”
Oneida County developed the plan in partnership with Cornell Cooperative Extension of Oneida County and planning consultants at LaBella Associates. The document identifies five strategic goals to guide implementation efforts. They include farmland preservation and protection; economic development and business support; agritourism and local food promotion; workforce development and farm transition; and sustainability and climate resilience.
The plan lays out 25 project concepts, with four top-priority initiatives earmarked for immediate development, Oneida
Why join LinkedIn in 2025?
LinkedIn isn’t going anywhere. If other social-networking platforms emerge, even those catering to B2B professionals, it’s unlikely that any will displace LinkedIn’s network size — already more than 1 billion members strong around the world.
MEAGAN
SAXTON Viewpoint
As a platform for corporate leaders to put a human face to the ideas and philosophies that guide their brands, there’s still no more popular place online.
Whether your followers number in the single digits or the millions, it’s the ideal platform for a variety of communication strategies, from thought leadership to messages about your business and brands that might not otherwise be discovered. Here are a few reasons why 2025 is not too late to join LinkedIn if you haven’t already.
A forum for authentic messaging
People join social-media platforms to be social, not to be marketed to. Facebook, Instagram, and Twitter/X often present a stark contrast between posts from familiar friends and unfamiliar brands. LinkedIn, by nature, strikes a more au-
County said.
The initiatives include facilitating farmer participation in economic-development tools such as revolving loans, grants, and tax incentives. Another immediate focus is establishing a formal farming apprenticeship or internship program to train the next generation of agricultural workers.
In addition, the priorities include conducting an agriculture-specific hazard mitigation analysis to safeguard farms from climate and environmental risks. The initiatives also include encouraging local municipalities to adopt farm-friendly planning policies, using the county’s Agriculture-Friendly Municipal Guide.
“These priority projects are designed to generate meaningful impact, particularly in areas like supply chain growth, land use
thentic balance, since both promoted and unpromoted posts cater to career-focused professionals.
For those interested in B2B marketing, that creates a unique opportunity. LinkedIn offers corporate leaders a place to share news, represent their company’s values, and meet like-minded individuals — all with a human face attached. Whether via written or visual content, it’s a great forum for authentic messaging, without the veneer of marketing that others might gloss over when it’s not attached to a human face.
Regardless of whether your LinkedIn account meets its key performance indicators (KPIs) — or even has any — it’s a place to experiment, particularly for those with few followers. For those who have not published blogs or vlogs before, LinkedIn allows its users to find modes of
planning, and workforce development,” James Genovese, commissioner of planning for Oneida County, said. “By aligning our agricultural strategy with broader economic, educational and climate goals, we are laying the foundation for a more resilient and prosperous farming community.”
To oversee implementation, the plan establishes a new agricultural-implementation committee, jointly coordinated by Oneida County and Cornell Cooperative Extension. The committee will be supported by working groups focused on each of the five strategic themes, meeting regularly to track progress and adjust strategies as needed, Oneida County said.
The full 2025-2030 agricultural strategic plan is available at: https://oneidacountyny. gov/departments/planning/agriculture/ n
communication that suit their style.
A pathway to making your brand more visible
There are other mediums for both corporate leaders and rank-and-file employees to share their thoughts about their brand or its industry writ large — a native blog on the company website, a newsletter for email subscribers, or even an independent blogging platform. Compared to LinkedIn, however, these forums are less likely to catch the attention of anyone previously unaware of your company and the work it’s doing.
LinkedIn networks and groups are organized around specific industries. Members can engage with others doing similar work, making it an ideal place to form relationships with potential B2B clients and customers. These are especially useful networking strategies for startups with little to no digital footprint. Even seasoned industry leaders looking for a forum to share their thoughts can use LinkedIn as a pathway to make their brand more visible, or to connect with others they might do business with in the future.
External communications
LinkedIn exposes leaders to people whose résumés and ideas make them attractive hires. When adding like-minded people to your network, both recruiters and job-seekers might discover areas of overlap between their wants and others’ needs. For both parties, having a robust LinkedIn profile can save a lot of time and effort.
Some corporate leaders might relish any opportunity to do some PR and messaging on behalf of your company as a good place to work. If someone on Glassdoor wrote a terrible review of your company, and you don’t have a presence on LinkedIn, what are others left to conclude? Having a personal or corporate LinkedIn page can help combat negativity. If your business doesn’t have a LinkedIn page, others might wonder if you’re legitimate. That’s why it’s never too late to join the site. As a forum for ideas, LinkedIn serves a variety of purposes — particularly for brands and corporate leaders with a small or nonexistent digital footprint. Look around, see what content speaks to you, what others are doing in your space, and dive in. n
Meagan Saxton is a social-media specialist at the marketing agency, ddm marketing + communications. She has several years of experience creating content and managing social media accounts for health care, higher education, and financial-services organizations.
Picente
Veterans Legal Clinic at SU College of Law receives $150K state grant
BY ERIC REINHARDT ereinhardt@cnybj.com
SYRACUSE — The Betty and Michael D. Wohl Veterans Legal Clinic (VLC) at the Syracuse University (SU) College of Law will use a $150,000 state grant to help provide services to Central New York veterans.
The New York State Department of Veterans’ Services awarded the school a Justice for Heroes grant, according to a post on the department’s Facebook page.
The SU College of Law is one of just five law schools in New York state selected for the grant funding, SU noted.
Besides the SU College of Law, Cornell
Law School, Hofstra University School of Law, University at Buffalo School of Law, and Albany Law School were also awarded grants, per the Facebook post.
With this funding, Syracuse University says the VLC will expand its legal support for local veterans and launch a new initiative to serve military-connected students, faculty and staff at the University, described as a “first-of-its-kind effort in higher education” in the SU announcement.
The grant will also strengthen the College of Law’s capacity to provide legal representation in areas such as U.S. Department of Veterans Affairs (VA) health and disability benefits, while simul-
taneously training the next generation of veteran-focused legal advocates, SU noted.
“This grant will enable the VLC to build upon its 10-year track record of delivering exceptional level services and representation to the veteran community and their families,” Beth Kubala, executive director of the Office of Clinical Legal Education, director of the VLC, said. “This grant program demonstrates New York state’s dedication to improving the lives of veterans and their ongoing support of law school outreach programs.”
Kubala is also a teaching professor in the College of Law and a U.S. Army veteran.
The VLC represents veterans and their families in claims for VA benefits and military discharge upgrades, SU said. Student attorneys, under faculty supervision, gain hands-on experience with real clients, navigating federal agencies and honing their legal skills — all while learning the value of pro bono service and engaging directly with military culture.
“The Veterans Legal Clinic exemplifies our commitment to experiential learning, community service, and public interest law,” Terence Lau, dean of Syracuse University College of Law, said. “We are proud of the clinic’s impact and grateful to the Department of Veterans’ Services for supporting this important work.” n
Three student lawyers with the Betty and Michael D. Wohl Veterans Legal Clinic within the Syracuse University College of Law meet with a veteran. PHOTO CREDIT: SYRACUSE UNIVERSITY NEWS WEBSITE
Barclay Damon operating in expanded NYC office inside Rockefeller Center
BY ERIC REINHARDT ereinhardt@cnybj.com
The New York City office of Syracuse–based law firm Barclay Damon LLP is now operating in a newly renovated, significantly expanded, and more modern space on the 23rd floor of Rockefeller Center.
The firm had announced its office relocation within Rockefeller Center back on July 22.
The move “effectively doubles the firm’s space and office count” in New York City as part of a continued investment in its “growing” major-market offices. Those offices include New York City; Boston; New Haven, Connecticut; and Washington D.C. It also supports its long-term strategy of attracting top legal talent and providing exceptional legal representation to clients in a geographically expanded platform, Barclay Damon contended.
The new offices in New York City cover 11,590 square feet and were designed with flexibility, functionality, and further growth in mind, the firm said. The offices accommodate Barclay Damon’s 33 New
York City–based attorneys and eight professional staff, while also providing ample space for visiting attorneys and clients as well as future lateral hires.
The space includes the latest in office technology, modern design, and collaborative work areas, and offers all the amenities of the Rockefeller Center campus, including direct access to restaurants, retail, and transportation, the firm said.
“This move represents an important step forward for our firm as we continue to strengthen our position in major markets,”
Connie Cahill, Barclay Damon’s managing partner, said in the announcement. “It also reflects an extraordinary level of success in finding great lawyers in New York and expanding that office over the past five years, from less than a half-dozen lawyers before COVID-19 to over 30 lawyers today.”
“Our New York City team plays a critical role in many of the firm’s core practices, from complex litigation, bankruptcy, and regulatory matters to highstakes transactional work,”
Five Star Bank parent reports nearly 32 percent drop in Q2 net income
BY ADAM ROMBEL arombel@cnybj.com
WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent company of Five Star Bank, recently reported net income of more than $17.5 million in the second quarter of this year, down 31.6 percent from $25.6 million in the second quarter of 2024.
After preferred dividends, Financial Institutions’ net income available to common shareholders was almost $17.2 million, or 85 cents per share, in the second quarter of 2025, down 33 percent from nearly $25.3 million, or $1.62 a share, in last year’s second quarter.
The banking company recorded a provision for credit losses of $2.6 million in the second quarter, compared to a provision of $2 million in the year-ago quarter.
Financial Institutions posted a net interest margin of 3.49 percent for second quarter of 2025, up from 2.87 percent from last year’s second quarter. Year-over-year margin expansion was driven by an increase in the average yield on investment securities, following the restructuring of the availablefor-sale securities portfolio in December 2024, which supported an increase in the average yield on interest-earning assets, the banking company said.
Lizz Acee, managing director of major markets, said in the firm’s announcement. “This investment allows us to better support our clients with expanded capacity, new technology, and a more welcoming, collaborative environment. It also helps us continue to attract top-tier talent who want to practice at a firm that values excellence and innovation.”
Acee oversees the more than 90 lawyers making up the firm’s major-market
offices and works closely with Cahill in the “careful expansion the firm has enjoyed,” the firm said.
With about 300 attorneys, Barclay Damon describes itself as a regional law firm that operates New York offices in Albany, Buffalo, Rochester, Syracuse, and New York City, along with offices in Boston, Massachusetts; New Haven, Connecticut; Washington D.C.; and Toronto, Ontario. n
Financial Institutions reported net interest income of $49.1 million in this year’s second quarter, up more than 19 percent, from $41.6 million in the second quarter of 2024.
Noninterest income at the company came in at $10.6 million in the second quarter of 2025, down 56 percent from $24 million in the year-earlier quarter, when its results benefited from a $13.5 million pre-tax gain associated with the sale of the company’s insurance business, per the earnings report issued on July 24. Income-tax expense at Financial Institutions was $4 million for this year’s second quarter, compared to $4.5 million in the second quarter of 2024. The company also recognized federal and state tax benefits related to tax-credit investments placed in service and/or amortized during both the second quarter of 2025 and last year’s second quarter, resulting in income-tax expense reductions of $1.1 million and $1.3 million, respectively.
The banking company’s effective tax rate was 18.4 percent for this year’s second quarter versus 15 percent for the second quarter of 2024. The effective tax rate fluctuates on a quarterly basis primarily due to the level of pre-tax earnings and may differ from statutory rates because of interest income from tax-exempt securities, earnings
on corporate-owned life insurance (COLI), the tax impact of the COLI repositioning, and the impact of tax-credit investments, the company noted.
Financial Institutions is a financial holding company, based in Warsaw in New York’s Wyoming County, with about $6.1 billion in assets, offering banking and wealth-management products and services. Its Five Star Bank subsidiary
provides consumer and commercial banking and lending services to individuals, municipalities, and businesses through banking locations spanning Western and Central New York and a commercial-loan production office serving the Mid-Atlantic region. Five Star Bank’s Central New York offices include a commercial-loan production office in Syracuse and retail branches in Auburn, Waterloo, and Geneva. n
The Barclay Damon Tower in downtown Syracuse, which is the headquarters for Barclay Damon LLP. The law firm says it has relocated its New York City office within Rockefeller Center.
ERIC REINHARDT / CNYBJ
Acee
The Five Star Bank office building located in downtown Rochester. PHOTO CREDIT:
Buffalo law firm Rupp Pfalzgraf expands into Syracuse market
BY ERIC REINHARDT ereinhardt@cnybj.com
SYRACUSE — Buffalo–based law firm
Rupp Pfalzgraf LLC has expanded into the Syracuse market with an office at the State Tower Building at 109 S. Warren St. in Syracuse.
Rupp Pfalzgraf sees it as “another significant step in the firm’s continued growth across New York State,” per its July 29 announcement. The firm says the Syracuse office, which opened Aug. 1, follows previous expansions into Rochester, Jamestown, and the Capitol Region.
“We are incredibly excited to establish a physical presence in Syracuse. This office allows us to better serve our existing clients in Central New York and provides an opportunity to forge new partnerships within this community,” David Pfalzgraf, managing partner of Rupp Pfalzgraf LLC, said in the announcement. “We are thrilled to bring Paul Tortora, Jr. into the firm as the lead partner in Syracuse. Not only does he bring years of local experience to the firm, but he’s offering his clients something truly rare – the personalized attention of a sole practitioner with the comprehensive resources of a larger practice behind him.”
Altogether, the firm tells CNYBJ it has an employee count of 155, including 73 attorneys.
The Syracuse office is led by fami-
One Big Beautiful Bill Extends Many Business-Friendly Tax Provisions
Nicholas L. Shires, CPA, Partner-in-Charge of Tax Services Dannible & McKee, LLP
The One Big Beautiful Bill Act (OBBBA) includes numerous provisions affecting the tax liability of U.S. businesses. While some provisions are less favorable, many extend or expand tax benefits that will influence planning in the years ahead. Below are key highlights.
Qualified Business Income (QBI) Deduction
The Tax Cuts and Jobs Act (TCJA) created the Section 199A QBI deduction for owners of pass-through entities and sole proprietorships. The deduction had been slated to expire after 2025, putting many business owners at risk of higher taxes.
The OBBBA makes the QBI deduction permanent and expands the phase-in thresholds for specified services, trades or businesses, and other entities subject to the wage and investment limitation. For these businesses, the deduction is reduced when taxable income falls within the phasein range and is eliminated when taxable income exceeds the range. The new law expands the thresholds from $50,000 to $75,000 for individual filers and from $100,000 to $150,000 for joint filers.
The law also adds an inflation-adjusted minimum QBI deduction of $400, beginning in 2025. It’s available for taxpayers with at least $1,000 of QBI from one or more active businesses in which they materially participate.
Accelerated Bonus Depreciation
The OBBBA makes permanent 100% firstyear bonus depreciation for qualified new and used assets acquired and placed in service after January 19, 2025. Under the TCJA, the deduction was limited to 40% for 2025, 20% in 2026, and 0% in 2027.
the phaseout of several business-related clean energy incentives enacted under the Inflation Reduction Act. These include the qualified commercial clean vehicle credit, the alternative fuel vehicle refueling property credit and the Section 179D deduction for energy-efficient commercial buildings.
For example, the commercial clean vehicle credit now expires for vehicles acquired after September 30, 2025, instead of December 31, 2032, while the refueling property credit doesn’t expire until after June 30, 2026.
Qualified Opportunity Zones (QOZ)
The QOZ program, originally created under the TCJA to spur investment in distressed areas, is made permanent under the OBBBA. While the existing benefits remain, investors will now receive incremental gain reductions starting on their investment’s first anniversary. By the seventh year, taxpayers must realize their initial gains, reduced by step-ups in basis, the amount of which depends on how long the investment is held.
A new type of fund is also introduced for rural areas, offering investors triple the step-up in basis compared with standard QOFs. The first round of permanent QOFs begins January 1, 2027.
International Taxes
The OBBBA makes permanent the deductions for foreign-derived intangible income (FDII) and global intangible lowtaxed income (GILTI), setting the effective tax rates for both at 14% starting in 2026. The base erosion and anti-abuse tax (BEAT) is also made permanent, with the rate increasing to 10.5%.
ly law attorney Paul Tortora, Jr., who joined Rupp Pfalzgraf earlier this summer with the intention of expanding the firm’s presence in the area. As of Aug. 19, the Syracuse office has two attorneys and support staff member.
Tortora brings more than a decade of experience in divorce and family law, including high-conflict custody disputes, child-support matters, and complex matrimonial cases.
As partner, he leads the Syracuse team while also playing an active role in firm leadership and mentorship. Tortora earned both his undergraduate and law degrees from Syracuse University and is licensed to practice in New York, Virginia, Maryland, and Washington, D.C.
“Having practiced in Syracuse for the past seven years, I’ve witnessed firsthand the unique needs of this community,” Tortora said. “Joining Rupp Pfalzgraf to open this new office is an exciting opportunity to combine my local insights with the firm’s extensive resources and expertise. We are committed to providing top-tier counsel and to becoming a trusted partner for clients throughout Central New York.”
Litigation attorney Christopher McCune, who focuses on premises and products liability, personal injury and general commercial litigation, joined Tortora in mid-July, and the firm is actively seeking a commercial litigator and a corporate lawyer. Rupp Pfalzgraf expects to continue expanding the Syracuse team, the firm said. n
The new law also introduces a 100% deduction for “qualified production property” (nonresidential real property used in manufacturing) placed into service after July 4, 2025, and before 2031. In addition, Sec. 179 expensing limits increase to $2.5 million with a phaseout threshold of $4 million for 2025, with each amount adjusted annually for inflation.
Together, these changes are expected to encourage capital investments, particularly for manufacturing, construction, agriculture and real estate businesses. And the permanent 100% bonus depreciation may alleviate the pressure on companies that didn’t want to delay purchases due to a smaller deduction.
Research and Experimentation (R&E) Expense Deduction
Since 2022, businesses have been required to amortize Sec. 174 R&E costs over five or 15 years, depending on location. The OBBBA permanently allows the deduction of domestic R&E expenses in the year incurred, starting with the 2025 tax year.
Small businesses with average annual gross receipts of $31 million or less may also claim the deduction retroactively to 2022. Any business that incurred domestic R&E expenses in 2022 through 2024 can elect to accelerate the remaining deductions for those expenditures over a one- or two-year period.
Clean Energy Tax Incentives
The OBBBA eliminates or accelerates
Employer Tax Provisions
The law makes permanent the exclusion from gross income (for employees) and from wages for employment tax purposes (for employers) for employer payments of student loans. It also provides that the maximum annual exclusion of $5,250 will be adjusted annually for inflation after 2026.
The OBBBA permanently raises the maximum employer-provided childcare credit to 40% of qualified expenses, up to $500,000 annually (50% and up to $600,000 for eligible small businesses). The maximum dollar amount will be inflation-adjusted annually after 2026.
It also makes permanent the employer credit for paid family and medical leave (FML) after 2025. Employers will also be allowed to claim the credit for a portion of premiums for paid FML insurance.
Employee Retention Tax Credit
(ERTC)
If you filed an ERTC claim after January 31, 2024, you may not receive the refund. The OBBBA bars the IRS from paying certain claims submitted after that date and extends the statute of limitations on challenges to six years from filing.
What’s Next?
Since the OBBBA is simply extending or modestly modifying existing tax law, it probably won’t result in the yearslong onslaught of new regulations and IRS guidance that followed the TCJA’s enactment. But we’ll keep you informed about any new developments.
Tortora
The law firm Rupp Pfalzgraf LLC, which is headquartered in Buffalo, has opened an office in the State Tower Building.
PHOTO CREDIT: ZOEYADVERTISING.COM
Former Vernon Center FD treasurer pleads guilty to stealing over $300,000
BY JOURNAL STAFF news@cnybj.com
VERNON CENTER— A former treasurer for the Vernon Center Fire Department has pled guilty to stealing more than $300,000 from the department.
Jonnell Rose, 52, pled guilty before Judge Michael Nolan in Oneida County Court to grand larceny in the second degree and will be sentenced on Oct. 28. That’s according to an Aug. 14 announcement from New York State Comptroller Thomas P. DiNapoli, Oneida County District Attorney Todd Carville, and New York State Police Superintendent Steven G. James.
A joint investigation by DiNapoli’s office and the State Police found Rose, of Vernon, stole $309,000 from the depart-
ment over a six-year period from May 2018 to May 2024.
Rose wrote fire department checks to cash, which he pocketed, deposited checks written to various legitimate fire department vendors into his personal accounts, and deposited checks intended for the department into his own bank account, according to the guilty-plea announcement.
A forensic examination by DiNapoli’s office revealed that Rose made numerous personal purchases and payments, including crypto-currency transactions, credit-card payments, and cash withdrawals with the funds he stole from the department.
Rose was arrested in early February of this year.
“Jonnell Rose betrayed his community’s
trust and stole over $300,000 meant to protect it,” DiNapoli said in the announcement. “I thank District Attorney Carville and the New York State Police for their partnership in holding him accountable.”
James added, “This guilty plea demonstrates the vital collaborative work of our
New DEC general counsel appointed
BY JOURNAL STAFF news@cnybj.com
ALBANY — Anthony Luisi has been appointed to serve as general counsel of the New York State Department of Environmental Conservation (DEC), the state’s environmental regulatory agency. His selection was one of four key appointments to leadership positions at
law enforcement partners focused on the same goal; holding those who break our laws, accountable. Mr. Rose took advantage of a position he was entrusted in, and stole funds intended to support the Vernon Center Fire Department and the community it serves.” n
the agency announced by DEC Commissioner Amanda Lefton on Aug. 12. Luisi rejoined DEC after serving as regional director for DEC’s Region 4 for several years. He also previously served as regional attorney for Region 4, managing legal affairs for the nine-county Capital Region
Albany–area accounting firm set to combine with Bonadio Group
BY ERIC REINHARDT ereinhardt@cnybj.com
ROCHESTER — An accounting and advisory firm that operates in Watervliet, northeast of Albany, is set to combine with The Bonadio Group in early September. The deal involving DALLE Accounting and Cash Management, Inc. is expected to close on Sept. 8. That’s when all employees of the Watervliet firm will join the Bonadio Group and DALLE will begin to operate under the Bonadio Group name. The Bonadio Group is headquartered in Rochester and operates an office in at 432 N. Franklin St. in Syracuse’s Franklin Square area. The firm also describes itself as the largest independent provider of accounting, assurance, tax, and consulting and advisory services in upstate New York.
This strategic partnership will enhance the Bonadio Group’s presence in the Capital Region, adding about 20 new employees, including one partner, and
more than 500 client relationships, per the Bonadio announcement. DALLE’s clients will continue to work with the same DALLE representatives, but they’ll have access to Bonadio’s expanded service offerings, resources, and industry expertise, Bonadio said.
“This is an exciting step for our firm that enables us to offer more services to more clients in the Capital Region,” Bruce Zicari, CEO and managing partner of the Bonadio Group, said. “DALLE’s strong track record of success, specialized expertise and deep roots in the Albany market align perfectly with Bonadio’s values and commitment ‘To Be Growing.’ We’re thrilled to welcome their talented team to our firm.”
Founded in 2006 in Watervliet in Albany County, DALLE works to provide small businesses and nonprofit organizations with financial leadership. Over the past two decades, the firm has grown a client roster of more than 500, “delivering everything from day-to-day accounting sup-
and working closely with the Office of General Counsel team.
Most recently, Luisi was senior counsel at the law firm of Harris Beach Murtha Cullina PLLC in Albany, where he led the firm’s environmental law practice group and was a member of its commercial real estate, government compliance and investigations, and business litigation practice groups.
Prior to his work at DEC, Luisi was an attorney with law firms in Albany (Couch White, LLP) and White Plains (Cuddy & Feder LLP), per his LinkedIn profile. Luisi earned his law degree from the Fordham University School of Law and his bachelor’s degree from Binghamton University. The former DEC general counsel was Thomas S. Berkman, who has moved onto a position as partner at the law firm of Hodgson Russ LLP in Albany, where he serves in its environmental & energy practices, according to that firm’s website.
port to complex financial transactions and regulatory compliance through a unique team-based model,” per the Bonadio announcement.
“Our decision to join Bonadio reflects our shared commitment to people-first values, forward-looking client service,
and continuous improvement,” Dan Lortie, managing director at DALLE, said. “Together, we can offer our clients more resources and our team greater opportunities, all while preserving the personalized service that has defined our approach.”
PHOTO CREDIT: VERNON CENTER FIRE DEPARTMENT
Luisi
The Bonadio Group — an accounting, assurance, tax, and consulting firm that’s based in Rochester — operates an office at 432 N. Franklin St. in Syracuse. The company on Aug. 7 said a Capital Region firm will combine with it in September.
The Trump Private Equity Order: What Plan
Fiduciaries Need to Know Now
On Aug. 7, 2025, President Donald Trump issued an executive order that may result in an expansion in the types of holdings common in 401(k), 403(b) and other defined-contribution plans.
GREGORY M.
KATZ Viewpoint
Generally, a plan fiduciary’s decision to offer a designated investment alternative is subject to fiduciary duties enumerated in section 404 of the Employee Retirement Income Security Act of 1974 (ERISA). Thus, fiduciaries have duties to prudently select and monitor designated investment alternatives.
On June 3, 2020, during the first Trump administration, the U.S. Department of Labor (DOL) issued an information letter providing guidance on selecting investment alternatives featuring private-equity investments. The letter stated that a “plan fiduciary of an individual account plan may offer an asset allocation fund with a private equity component.” However, the letter also noted important fiduciary concerns, including complexity and relatively higher fees associated with private-equity investments.
The Biden administration further clouded the outlook for these types of investments by issuing a “Supplement Statement” in 2021 “to ensure that plan fiduciaries do not expose plan participants and beneficiaries to unwarranted risks.” The Supplement Statement not only reiterated concerns of the original 2020 letter, but also highlighted a U.S. Securities and Exchange Commission (SEC) “Risk Alert” addressing concerns with private-equity investments, including conflicts of interest, fees, and nonpublic information.
New policy and stated motivation
Simply put, the new [Trump] executive order states that American retirement savers should have access to investments in alternative assets — more on what that means later — when a plan fiduciary determines that those investments would enhance net “risk-adjusted” returns. According to the order, this policy is intended to bring 401(k) and other defined-contribution plan (e.g., 403(b)) participants to parity with participants in public plans and defined-benefit plans by expanding access to the “long-term net benefits” of alternative assets.
Alternative assets
So, what are investments in alternative assets? The executive order provides a list, and while much coverage has focused on private equity and cryptocurrency, the order is much broader than that. The executive order also includes real estate, commodities, infrastructure financing, and pooled longevity risk sharing (which is an interesting concept with a historical legacy worthy of a discussion all its own). Regarding cryptocurrency, the order refers to holdings in actively managed investment vehicles that hold cryptocurrencies, rather than the cryptocurrencies themselves.
What action does the order actually take?
The executive order does not simply allow fiduciaries of defined-contribution plans to start offering investments in alternative assets. The ERISA fiduciary framework discussed above continues to apply. Instead, the order directs the DOL, in consultation with the Department of the Treasury and the SEC, to revisit earlier guidance and issue new guidance.
First and foremost, the order directs
the secretary of labor to reexamine all guidance on ERISA fiduciary duties with an eye to allowing investments in asset-allocation funds that hold alternative assets. In particular, the order instructs the secretary of labor to consider whether to rescind the 2021 Supplement Statement discussed [earlier].
Second, the order instructs the secretary to clarify the “fiduciary process” used to offer asset-allocation funds that hold alternative assets. Here, the order shows
some restraint by requiring the guidance to balance the likely higher cost of such investments with their possible benefits, including better returns and diversification. Further, the secretary should propose new rules or guidance on fiduciary duties owed to plan participants in deciding whether to offer asset allocation funds holding alternative assets. The order instructs the secretary of labor to prioritize actions that would reduce litigation constraining plan fiduciaries.
Finally, the order directs the SEC to consider ways to facilitate access to investments in alternative assets in 401(k) and other defined-contribution plans. Again, this is meant to be accomplished through revisions to guidance and regulations. In particular, the
Alanna Abreu
UHY Advisory, Inc.
Celestin Abwe
Clutch Delivery LLC
Matthew Baisley
Oneida County Government
Jamie Bova
FustCharles
Cassandra Bulak
Loretto
Lamar Chamblee NBT Bank
Kevin Conway
Caruso McLean Investment Advisors
Meghan Crawford-Hamlin
BHG Financial
Tracy DiGenova Office of Gov. Kathy Hochul
Gideon Dixon
M&T Bank
Kimber Doolittle
Pinckney Hugo Group
Courtney Gauthier
KeyBank
Kirsten Gosch
Cayuga Museum of History & Art
Emily Gozy Nourished with Emily, LLC
Kara Jones CenterState CEO
Nitch Jones
SUNY Upstate Medical University
Shaun Kaleta
Oneida County
Chelsey Lavere
Turning Stone Resort Casino
Liza Magley
Bond, Schoeneck & King PLLC
Matthew Malinowski
Syracuse Police Department
Jennifer Marshall
Griffiss Institute
Ryan McCarthy
Rejuvn8 Aesthetics
Colleen McLaughlin
McDonald’s
Sara Mowers
Excellus BlueCross Blueshield
Emily Middlebrook
Hancock Estabrook, LLP
Emily Minnoe
Francis House
Jessica Montgomery
Stay Fresh, LLC
Diana Nightingale
David’s Refuge
Ryan O’Donnell
Chimera Integrations
Lorna Oppedisano Onondaga Historical Association
Jeffrey Pawlowski in-Architects, PLLC
Vinny Peone
Eastern Security Services
Christine Petrone
Dannible & McKee, LLP
Audrey Piccione Arc Herkimer
Jonathan Schneckenburger
Thompson & Johnson Equipment Co., Inc.
Lauren Usherwood
Usherwood Office Technology
Joseph Viviano
Ascension Wealth Management
Bridget Volz
Onondaga County Health Department
Ryan Woodruff
Clear Path for Veterans
Corin Zimmer
Luck Grove
BUSINESS & COMMERCIAL LAW FIRMS
by No. of CNY Attorneys
4.
5.
6.
13202 (315) 565-4500/ hancocklaw.com
Hinman, Howard & Kattell, LLP 80 Exchange St. Binghamton, NY 13902 (607) 723-5341/hhk.com
Coughlin & Gerhart, LLP 99 Corporate Drive Binghamton, NY 13904 (607) 723-9511/ cglawoffices.com
Bousquet Holstein PLLC 110 W. Fayette St. Syracuse, NY 13202 (315) 422-1500/bhlawpllc.com
7. Costello, Cooney & Fearon, PLLC 211 W. Jefferson St. Syracuse, NY 13202 (315) 422-1152/ccf-law.com
8. Mackenzie Hughes LLP
440 S. Warren St., Suite 400 Syracuse, NY 13202 (315) 474-7571/ mackenziehughes.com
9. Ferrara Fiorenza PC 5010 Campuswood Drive East Syracuse, NY 13057 (315) 437-7600/ferrarafirm.com
10. Harris Beach Murtha 333 W. Washington St., Suite 200 Syracuse, NY 13202 (315) 423-7100/ harrisbeachmurtha.com
11. Goldberg Segalla LLP 5786 Widewaters Parkway Syracuse, NY 13214 (315) 413-5400/ goldbergsegalla.com
12. Melvin & Melvin, PLLC 217 S. Salina St. Syracuse, NY 13202 (315) 422-1311/melvinlaw.com
& Lickstein, LLP 109 S. Warren St Syracuse, NY 13202 (315) 422-1172/ newmanlickstein.com
7136 E. Genesee St. Fayetteville, NY 13066 (315) 637-3663/ gghlawoffice.com
& King LLP
443 North Franklin St., Suite 300 Syracuse, NY 13204 (315) 422-7111/bklawyers.com
Fetter Grizanti & McGough, P.C. 507 Plum St., Suite 300 Syracuse, NY 13204 (315) 471-8111/scolaro.com
507 Plum St., Suite 310 Syracuse, NY 13204 (315) 671-6000/lippes.com
238 West Division Street Syracuse, NY 13204 (315) 412-0440/ westfalllaw.com
13214 (315) 251-1500/ centolellalegal.com
507 Plum St., Suite 103 Syracuse, NY 13204 (315) 492-4700/tullylegal.com/ syracuse-ny/
Compson & Pimpinella,
2310 Genesee St. Utica, NY 13502 (315) 724-5147/ cpestatelaw.com
210 Brooklea Drive Fayetteville, NY 13066 (315) 233-8300/ burrpatlaw.com
THE LIST
Research by Vance Marriner vmarriner@cnybj.com (315) 579-3911 @cnybjresearch
commercial banking, corporate, estate planning, elder law
corporate, construction, domestic relations, emerging
environmental, estates & trusts, immigration,
270 10 1 appellate law, business litigation, cannabis, commercial real estate, construction, corporate law, cybersecurity, environmental, energy, financial institutions, financial restructuring, bankruptcy and creditors’ rights, government compliance and investigations, health care, immigration, intellectual property, labor and employment, and more
John R. Langey, CEO Paul G. Ferrara, COO Elizabeth A. Hoffman, CFO
Richard C. Engel, Executive Committee Chair Ami S. Longstreet, Executive Committee Mark R. Schlegel, Executive Committee W. Bradley Hunt, Executive Committee Neil J. Smith, Executive Committee
G.
President
T. Johns Colleen W. Heinrich, VP Katherine Gavett, Secretary Charles Symons Michael Dodd, Treasurer
David M. Capriotti, Managing Partner, Syracuse Seth Hiland, Managing Partner, Ithaca
Upcoming Lists
September 1 Manufacturers (100 Employees or Fewer)
September 8 Risk-Management Providers
ABOUT THE LIST
Information was provided by representatives of listed organizations and their websites. Other groups may have been eligible but did not respond to our requests for information. Organizations had to complete the survey by the deadline to be included on the list. While The Business Journal strives to print accurate information, it is not possible to independently verify all data submitted. We reserve the right to edit entries or delete categories for space considerations.
Central New York includes Broome, Cayuga, Chemung, Chenango, Cortland, Herkimer, Jefferson, Lewis, Madison, Oneida, Onondaga, Oswego, St. Lawrence, Seneca, Tioga, and Tompkins counties.
WANT TO BE ON THE LIST?
If your company would like to be considered for next year’s list, or another list, please email: vmarriner@cnybj.com
Cahill,
Burch,
Timothy P. Murphy, Managing Partner
AUGUST 25, 2025 VOL. XXXVIII, NO. 29
EDITOR-IN-CHIEF
Adam Rombel arombel@cnybj.com
STAFF WRITER
Eric Reinhardt ereinhardt@cnybj.com
CREATIVE DIRECTOR
Erin Zehr ewebb@cnybj.com
RESEARCH DIRECTOR
Vance Marriner vmarriner@cnybj.com
COLUMNISTS
Will Barclay
Russell Gloor
Lee Hamilton
Kelly Bailey kbailey@cnybj.com
CIRCULATION MANAGER
Raviv Nesher (315) 579-3927 circulation@cnybj.com
Marny Nesher mnesher@cnybj.com
OFFICE MANAGER
Patty Martino officemanager@cnybj.com
In New York, the Threat to Democracy Comes from Within
Political theatrics are common in Albany. And regrettably, blatant hypocrisy is never too far behind.
New Yorkers got a healthy dose of both in early August, as Gov. Hochul claimed she is prepared to “fight for democracy” by taking the most un-democratic action imaginable.
While hosting Texas Democrats who abandoned their posts to avoid participating in a legislative session at home, the governor stated she’s ready to eliminate the voter-approved Independent Redistricting Commission (IRC), the body responsible for drawing the state’s election district lines. In effect, Gov. Hochul would rather create the state’s election maps through a single political party, rather than an independent panel. That shameful step would send a clear message to the people of New York: “Your voice doesn’t matter.”
“Redistricting” is the process by which Congressional, Senate, and Assembly
district maps are redrawn every 10 years to account for population shifts within the state. For decades, the legislature controlled that process. It was a flawed system that often produced maps deeply driven by political interests. To address this, in 2014, New Yorkers went to the polls and voted overwhelmingly to change the state constitution and create the IRC, transferring map-drawing responsibilities to an independent body.
“Over the years, election laws in our state have been brazenly revised in ways to strengthen OneParty Rule.”
taliate” by reworking its own, as if the goal is to out-gerrymander the competition to preserve Democratic power. But as Rachael Fauss, senior policy advisor for Reinvent Albany, stated, “We fundamentally don’t think that New York is going to save American democracy by gerrymandering.”
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The IRC was created to ensure “the voice of the voters of New York is both reflected and protected.” At its core, the amendment championed “fair and open elections” and set a national standard for independent redistricting. So why is New York’s own governor trying to undermine that?
Beyond suggesting that the IRC be eliminated, Democrats introduced legislation to allow New York to redraw its congressional lines mid-decade if other states do the same. Essentially stating: If another state changes its maps, New York will “re-
But let’s be clear, New York Democrats haven’t needed actions in other states to justify changing the rules in the middle of the game. Over the years, election laws in our state have been brazenly revised in ways to strengthen One-Party Rule. Based on Democrats’ recent statements, we may be headed down a very dangerous road — one that openly disregards the will of the people and the principles of democracy. n
William (Will) A. Barclay, 56, Republican, is the New York Assembly minority leader and represents the 120th New York Assembly District, which encompasses all of Oswego County, as well as parts of Jefferson and Cayuga counties.
Controlling federal government spending is difficult but urgent
The United States government spent nearly $7 trillion in the most recent fiscal year. No matter how you slice it, that’s a lot of money. Most of us would agree the government spends more than it needs to spend. Getting a handle on spending is no easy task, but we need to do it.
Of course, spending is only part of the problem. The national debt keeps growing because our elected officials won’t levy the taxes needed to pay for what we spend. President Donald Trump’s so-called One Big Beautiful Bill Act [could] increase deficits by [an estimated] $3.4 trillion over the next 10 years, thanks largely to tax cuts. One challenge is that America is a big, complicated country with a big, complicated government. The concept of $7 trillion is hard to grasp. The numbers are abstractions; we can’t visualize a trillion dollars. We could cut billions here and there, but the overall impact wouldn’t seem significant.
Another difficulty is that most spending serves a purpose, and much of it is necessary to keep government running effectively. We saw that recently when agencies had to call back employees who had been sent home when Elon Musk’s Department of Government Efficiency (DOGE) slashed the federal workforce. We may not like government, but we rely
on much of what it does.
Finally, a great deal of federal spending is off limits for cuts, at least in the short term. Over 20 percent pays for Social Security. Another 13 percent funds Medicare, and 13 percent goes for national defense. Another major cost, Medicaid, provides health care for one in five Americans. When budget hawks target these programs, they often claim they are focused on “waste, fraud and abuse.” But watchdog groups typically fail to turn up significant fraud in government. One person’s waste is another’s lifeline.
Foreign aid is a popular place to cut, but Americans typically think we spend a lot more on aid than we do. In fact, it’s less than 1 percent of the federal budget in most years. And foreign aid isn’t just charity: It’s a key tool for achieving our foreign policy objectives. Importantly, it allows us to be a force for good, easing the effects of hunger and disease around the world.
One area of spending that we should be concerned with is interest on the national debt. For a long time, many economists downplayed its importance, but that has changed as the debt has ballooned. We now spend more on interest than on Medicare or defense.
While tax cuts have helped grow the debt, it’s also true that spending has increased markedly since 2000. The wars in Iraq and Afghanistan were a factor, and so is the aging of the large Baby Boom generation, which increased Social Security and Medicare costs. The COVID-19 pandemic produced vast emergency spending; some
of it was temporary but some of it continues. Donald Trump was right to prioritize controlling government spending, but relying on Musk and his team of outsiders and eliminating entire programs was wrong-headed and doomed to fail. Trump’s insistence on massive tax cuts showed he wasn’t serious about the debt.
Fifty years ago, William Proxmire, a senator from Wisconsin, instituted what he called the Golden Fleece Award to call out wasteful government spending. The projects he cited were often small; the first award, for example, went to an $84,000 study of why people fall in love. But the awards served a purpose. Proxmire’s knack for combining humor and outrage got a lot of media coverage, which focused attention on government spending. And public attention can make a difference. Ultimately, it will be up to Congress to control spending. It’s the branch of government that’s closest to the people, and the Constitution gives Congress authority over taxes and spending. So all eyes are turning toward the Congress. n
Lee Hamilton, 94, is a senior advisor for the Indiana University (IU) Center on Representative Government, distinguished scholar at the IU Hamilton Lugar School of Global and International Studies, and professor of practice at the IU O’Neill School of Public and Environmental Affairs. Hamilton, a Democrat, was a member of the U.S. House of Representatives for 34 years (1965-1999), representing a district in south-central Indiana.
SEPTEMBER 8
n CNY Business Journal Best Places to Work Awards from 4:30-7:30 p.m. at Timber Banks Golf Club in Baldwinsville. Best Places to Work is pleased to recognize and celebrate Central New York’s employers that encourage, cultivate, and promote a great place to work. Join us for the best networking opportunity in town. Event starts with optional golf opportunity from 1:30-4 p.m. For full details, including the list of honorees in four categories, visit: https:// www.cnybj.com/event/best-places-towork-awards/
SEPTEMBER 9
n CenterState CEO Speed Networking event from 8:30-9:30 a.m. at OneGroup, 706 N. Clinton St., Syracuse. Bring your business cards and be prepared to engage in small group dialogue while building relationships with other CenterState CEO members. There is time for informal networking and sharing your one to two minute “pitch.” Registration is at 8:15 a.m., and program runs from 8:309:30 a.m. Cost is $15 for members; $30 for non-members. For more information and to register, visit: https://centerstateceo. com/events/9/2025/speed-networking
SEPTEMBER 10
n Confident Manager Masterclass: for
Continued from page 11
calls out the rules on accredited investors and qualified purchaser status.
Takeaways
This executive order walks a fine line between taking actions to eventually allow 401(k) and other defined-contribution participants access to investments in alternative assets and the dual constraints of ERISA’s statutory fiduciary framework
BUSINESS CALENDAR
Email event listings to: calendar@cnybj.com
Managers of “Brilliant but Difficult” People from 8 a.m-5 p.m. at the Central New York Community Foundation’s CNY Philanthropy Center, 431 E. Fayette St., Suite 100, Syracuse. This one-day, handson, experiential workshop teaches you how to address abrasive workplace behavior productively, and with grace and compassion. This is not about theory: it’s about practice, getting feedback, and practicing again, so you develop both the skills and confidence to have these difficult conversations. Workshop conducted by Sansu Rising Coaching, LLC in partnership with the Central New York Chapter of the Association for Talent Development (ATD). Learn more and register at: https:// sansurising.com/masterclass/
n Tompkins Chamber Business After Hours event from 4:30-6:30 p.m. at Atlas Bowl, 61 W. Main St., Trumansburg. This event offers chamber members a special opportunity to share ideas and build connections. Held at various locations in Tompkins County, this gathering is the perfect place to form long-lasting partnerships. There will be a spread of light refreshments, a cash bar, and a celebratory cake. Bring your business cards for an opportunity to network. Raffle tickets are also available for door prizes. For more information and to register, visit: https:// business.tompkinschamber.org/events/ details/business-after-hours-at-atlasbowl-194003
and policy concerns about exposing plan participants to undue risk. In other words, while it doesn’t open the floodgates for these types of investments, it does take substantive steps towards their availability.
Further, it will take time for the agencies to revise their guidance. The order sets a 180-day deadline, but if the DOL goes the traditional notice and comment rulemaking route, finalizing any rule will take longer than that.
Nothing in the order would require plan sponsors to offer investments in alterna-
SEPTEMBER 11
n Greater Binghamton Chamber of Commerce Connect Over Lunch event from 11:45 a.m.-1:15 p.m. at California Grill, 912 Vestal Parkway East, Vestal. The chamber’s Connect Over Lunch is a popular networking event held on the second Thursday of each month at various locations throughout the community. More information, including registration, is available through this link: https://shorturl.at/ZThhM
SEPTEMBER 16
n 2025 NYS Workers’ Compensation Info Session from 5-6 p.m. at the Greater Binghamton Chamber’s Community Room at 5 South College Drive in the town of Dickinson. The chamber is partnering with the New York State Workers’ Compensation Board’s Office of Business Advocacy to educate area businesses and nonprofits about workers’-compensation benefits in the state. Topics include an overview of workers’ compensation (WC), disability benefits (DB), and paid family leave (PFL); WC, DB, and PFL considerations regarding telecommuting staff, interns, family members, undocumented workers, parttime staff and independent contractors; issues regarding subcontractors and workers’ compensation; and tips to lower premiums and get better claims results. More information, including registration,
tive assets in their defined-contribution plans. Even imagining a future where such investments in alternative assets are common in defined-contribution plans, a suit alleging underperformance for only offering traditional investments seems farfetched.
If you are a plan fiduciary considering offering investments in alternative assets, you should first monitor future agency guidance closely as the details will matter. Second, consider building relationships with advisors with the right competencies to evaluate the prudence of such in-
is available through this link: https:// shorturl.at/fxXsk
n Annual Tompkins Chamber Golf Tournament from 8:30 a.m.-5 p.m. at Trumansburg Golf Club, 23 Halsey St., Trumansburg. Whether you’re a seasoned golfer or just looking for a fun day out on the green, this event is the perfect opportunity to network, unwind, and support the Tompkins Chamber. Held in a captain and crew / best ball format, the tournament is ideal for players of all skill levels. Shotgun start is at 10 a.m. Registration fee includes lunch, snacks, beverages, and a mouth-watering chicken BBQ dinner. For more information and to register, visit: https://business.tompkinschamber. org/events/details/annual-chamber-golftournament-2025-193993
SEPTEMBER 22
n 2025 GOFCC Golf Social from 9:15 a.m-5 p.m. at Oswego Country Club, 610 West 1st St., Oswego. The Greater Oswego-Fulton Chamber of Commerce’s (GOFCC) annual Golf Social, presented by Novelis, is an 18-hole, four-person captain and crew tournament that brings together business and community members for a relaxing day of golf and fun. A grab-and-go breakfast is available, with lunch provided at the turn, followed by dinner as prizes and awards are announced. For more information and to register, visit: https://centerstateceo.com/ events/9/2025/2025-gofcc-golf-social
vestments. Different classes of alternative investments may necessitate different advisors. Finally, ensure that your decision-making process is well thought out and well documented. n
Gregory M. Katz is senior counsel in the New York City office of Syracuse–based Bond, Schoeneck & King PLLC. He is an employee-benefits attorney specializing in multiemployer and defined-benefit plans. Contact him at gkatz@bsk.com. This article is drawn from Bond’s website.
PEOPLE ON THE MOVE NEWS
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EMPLOYEE BENEFITS
BPAS has announced the appointment of JENNIFER WEIKEL as associate general counsel. A highly respected ERISA attorney with more than two decades of experience in employee-benefits law, Weikel brings a deep background in legal and regulatory matters across defined contribution, defined benefit, and health and welfare plans. In this newly created role, Weikel will support the
BPAS legal and compliance needs as part of the legal team at Community Financial System, Inc., the BPAS parent company. She will also work closely with BPAS leadership on operational, technical, and regulatory issues and serve as the primary liaison when coordinating with outside legal counsel. Weikel joins BPAS from Ascensus, where she served as Senior ERISA attorney supporting the FuturePlan division. Weikel earned her law degree from Indiana University’s Robert H. McKinney School of Law and holds a bachelor’s degree in finance from Indiana University’s Kelley
School of Business.
SECURITY SYSTEMS
Chimera Integrations has announced the promotion of SHAWN WELLS to Plattsburgh Territory operations manager. In this leadership role, Wells will oversee daily operations, ensuring projects are completed on time, fostering collaboration, and strengthening community con-
Ask Rusty: Can My Wife Get Her Full Spousal Benefit at 62, or Must She Wait?
DEAR RUSTY: I’m age 64 and my wife is 62. If my wife starts her own Social Security (SS) benefit now, she will receive about $700 on her own at 62. I will retire next year and claim SS when I am 65. The Social Security Administration (SSA) says my wife can draw $1,100 under spousal benefits, so if she claims now will the agency give her spousal benefits of $1,100, or does she need to wait until I claim at age 65 to get the $1,100?
Signed:TryingtoUnderstand
Dear Trying to Understand: If your wife is now 62, then her full retirement age (FRA) for Social Security purposes is age 67, and if she claims any SS benefit before reaching her FRA, the amount will be reduced for early claiming. If your wife were to claim now (before you), she would get only her own SS retirement amount (the $700 amount), and that would be a reduction of about 30 percent from what she would get if she waited until her FRA to claim.
Your wife cannot receive a “spousal boost” (an additional amount as your spouse) until you claim your SS retirement benefit (at age 65?). And her benefit as your spouse at that time will also be reduced
because she will not have yet reached her FRA. If your wife is already collecting her own SS retirement benefit when you later claim, she will be given her “spousal boost” to make her benefit equal what she is entitled to as your spouse. But her total monthly benefit as your spouse will also be reduced because it will be awarded before her FRA.
The only way your wife can receive her full spousal benefit from you is to wait until she is age 67 to claim Social Security. If she claims any earlier, her monthly amount will be permanently reduced.
FYI, if you plan to claim at age 65, you should also be aware that your full retirement age (FRA) is also 67, and claiming
at 65 will mean that you will get about 87 percent of the amount you would receive if you waited until age 67 to claim. Again, these reductions are permanent, except for normal cost-of-living adjustments (COLA) awarded annually thereafter.
Having said all of that, deciding when each of you should claim your Social Security benefit is a matter of financial need, while also considering your life expectancy. If your life expectancy is short and/or you need the money, then claiming early is likely the right decision. But if your life expectancy is longer and you don’t urgently need the money, then you might both consider waiting longer to claim a higher monthly amount and receive more in cumulative lifetime benefits.
Finally, please remember that whenever SS is claimed before one’s FRA, the SSA has an annual earnings test that limits how much can be earned by working while collecting early SS benefits. The earnings limit for 2025 is $23,400 and, if that is exceeded, the SSA will take back $1 in benefits for every $2 over the
nections. Known for delivering Chimera’s signature level of customer service, he embodies the company’s core values: being obsessed with the client’s experience, owning results, pursuing growth and learning, and creating a fun, family-like atmosphere. Shawn’s dedication, technical expertise, and team-first mindset have consistently elevated Chimera’s operations and client relationships. His promotion reflects not only his professional growth but also Chimera’s commitment to investing in leadership that enhances service and community impact.
limit (it takes benefits back by withholding future SS payments).
FYI, the earnings limit for those who claim SS early changes (increases a bit) yearly and goes away entirely once full retirement age is reached. So, if either or both of you are working, you should evaluate whether claiming your Social Security benefit early (before your respective FRA) is a prudent choice. n
Russell Gloor is a national Social Security advisor at the AMAC Foundation, the nonprofit arm of the Association of Mature American Citizens (AMAC). The 2.4-million-member AMAC says it is a senior advocacy organization. Send your questions to: ssadvisor@amacfoundation.org. Author’s note: This article is intended for information purposes only and does not represent legal or financial guidance. It presents the opinions and interpretations of the AMAC Foundation’s staff, trained, and accredited by the National Social Security Association (NSSA). The NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity.
Community Foundation names two new trustees, slate of officers
BY JOURNAL STAFF news@cnybj.com
UTICA — The Community Foundation of Herkimer and Oneida Counties recently announced two new board of trustees’ members and new officers.
The two new members are Lydia Berez and Ryan Miller.
Berez is a senior VP at Utica National Insurance Group, where she serves as general counsel and compliance officer. After beginning her legal career in Boston, she returned to Utica in 2003 and has since been with Utica National, where she will celebrate 22 years of service in September 2025. In addition to her professional accomplishments, Berez has
been an active community leader. She has served on the Holland Patent Central School District Board of Education for a decade, including two years as president, and recently concluded her long-standing board role with Hope House. Berez currently chairs the Screening Committee for the Utica National Foundation and serves on the board of GreenUtica.
Miller is the director of Mohawk Valley Community College’s thINCubator, a co-working and business incubator space in Utica dedicated to cultivating a strong culture of entrepreneurship. He has worked with more than 300 entrepre-
neurs, students, creatives, and business owners to help build ventures, solve problems, and create opportunities across the region. In addition to his role at thINCubator, Miller is the founder of Rust Belt Startup, where he develops websites, produces multimedia content, and crafts marketing strategies for small businesses and mission-driven organizations. He is also a co-founder of several local initiatives including TEDxUtica, the Utica Firefly Storytelling Series, and Detour Utica.
In addition to the two new trustee members, the Community Foundation of Herkimer and Oneida Counties board
of trustees also approved new officers. Cheryl Minor will assume the role of board chair, RoAnn Destito is the chairelect, Harrison J. Hummel IV is now the treasurer, and Kathryn Zongrone will serve as secretary.
Timothy Daly, AVP branch manager at Berkshire Bank and past treasurer of the Community Foundation board of trustees, has concluded his board service after eight years. Founded in 1952, the Community Foundation of Herkimer and Oneida Counties says it envisions a vibrant region with opportunity for all. The foundation notes that it has transformed decades of donor generosity into $150 million invested in social-impact initiatives, collaborative leadership, and grantmaking. n
Weikel
RUSSELL GLOOR Social Security Matters
Wells
Berez Miller
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