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FEBRUARY 28 - MARCH 6, 2011
LONG TERM CARE OMBUDSMAN: Tyrone Robinson and Margaret Miller to ombudsman specialists.
JOB CHANGES FINANCE OHIO COMMERCE BANK: Eric Hetrick to network administrator.
REAL ESTATE LMI MANAGEMENT INC.: Rhonda Leonard to division manager.
FINANCIAL SERVICE PEASE & ASSOCIATES: Joe Rokas to senior auditor; Lindsay Welch to audit staff accountant; Patricia Garven to tax manager; Brian Early to tax staff accountant; Jim Emond and Laura Pelissier to CFO services staff accountants. SKODA MINOTTI: Victor Hernandez and Ritchie Wilson to help desk technicians; Sandy Jiberno to administrative assistant; Bridget Mullaly to paraprofessional. SS&G: Rebecca Frisina to senior associate; Jeannine A. Souders to associate; Christine Klaiber to manager, assurance services.
CUYAHOGA COUNTY: Gregory F. Clifford to law director.
INSURANCE MEDICAL MUTUAL OF OHIO: Kim Osadczuk to manager, Proposal Unit.
SERVICEMASTER BY AMERISTEAM: Craig Crissinger to operations manager.
WELLS FARGO INSURANCE SERVICES USA INC.: Margaret Ludwig to senior vice president.
TECHNOLOGY ATNETPLUS INC.: Damian Huising and Chris Horning to IT specialists; Rochelle Schenk and Susan Hudik to account managers; David Kaiser to service manager; Ellen Kurr to business process/communications manager.
TAROLLI, SUNDHEIM, COVELL & TUMMINO LLP: Brian W. Bolinger to partner. WELTMAN, WEINBERG & REIS CO. LPA: Theodore J. Bush to director of title operations.
MANUFACTURING CARLISLE BRAKE AND FRICTION: D. Christian Koch to president.
MARKETING FELBER & FELBER MARKETING: Michelle Willmott to public relations associate. LIGGETT STASHOWER: Cheryl Hanley to senior account director.
NONPROFIT BURTON D. MORGAN FOUNDATION: Dianne Ketler to grants manager and social media coordinator. THE GREATER CLEVELAND PARTNERSHIP: Martin R. McGann to vice president, state and local government advocacy.
Willmott
WRIS WEB SERVICES: John Strathern to director of client services; Cassie Flanigan to marketing coordinator; TiaMarshae Sanford to social media specialist; Sandy Cronin to ColdFusion programmer.
BOARDS HIRAM HOUSE: Kevin D. Barnes (Taft Stettinius & Hollister LLP) to president-elect; John D. Barrett to president; David B. Moore to vice president, finance; Susan W. Cargile to vice president, development; Russell R. Grundke to secretary and executive director. NORTECH: Timothy M. Reynolds (Tribute Inc.) to chairman.
AWARDS SAINT JOSEPH ACADEMY: Dr. Michael Gallagher (West Park Dental) and Cathy Gallagher received the
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Contributors leery of investing in stock, though BY JERRY GEISEL Business Insurance
Hanley
Obeng
Leonard
Rose
Nappi
Vice
GABLES SEARCH GROUP INC.: Tiffany Lengyel to recruiter; Megan Angus to account executive.
RESOURCE TITLE NATIONAL AGENCY INC.: Donna Betley to account executive.
LEGAL
Ludwig
EQUITY CORPORATE HOUSING: Kim Lucas to account executive.
DORMAN FARRELL: Ryan Rose to director of new business development; Cindy Nappi to director of human resources consulting; Nancy Vice to senior benefits consultant.
GOVERNMENT
Osadczuk
RUSSELL REAL ESTATE SERVICES: Jana Devers, William Hendricks Jr., Kevin McGuire, Lauren Nutter, Edward Roffey, David Streeter and Cindy Wisniewski to sales associates.
SERVICE
19
Average 401(k) balance up 11% over prior year
GOING PLACES
LIFEBANC: Michael K. Obeng to medical director of tissue services.
CRAIN’S CLEVELAND BUSINESS
WWW.CRAINSCLEVELAND.COM
2011 Medaille Shield Award. STARK COUNTY ASSOCIATION OF REALTORS: Jim Bray (Cutler Real Estate) received a Lifetime Achievement Award.
Send information for Going Places to dhillyer@crain.com.
Employees’ 401(k) account balances in 2010 continued to climb and are higher than they were before the fall in the equities markets, according to an analysis released last week. The average 401(k) account balance was $71,500 last year, up 11.4% from $64,200 at year-end 2009, according to Fidelity Investments, a Boston-based mutual fund provider and 401(k) plan administrator. At year-end 2008, the average account balance, battered by that year’s plunge in the equities markets, fell to $50,200, a huge drop from 2007 when the average account balance was $69,200. “You can’t underestimate the fact that the markets were very favorable last year,� said Beth McHugh, Fidelity’s vice president of market insights. Even with the resurgence of the equities markets, 401(k) plan participants are more cautious
about fully investing their account balances in stock. Thirteen percent of active participants held all of their 401(k) account balances in equities last year, down from 14% in 2009 and 20% in 2007. Loan activity increased slightly; just over 11% of participants took out a loan from their 401(k) plan last year, compared with 10.6% in 2009. Fidelity also found that 21% of plan sponsors offer a Roth 401(k) feature, up from just 10% in 2007. In a Roth 401(k) plan, participants make after-tax contributions, but those contributions and investment income can be withdrawn tax-free if certain requirements are met. The study analyzed the account balances of about 11 million participants in nearly 17,000 corporate plans serviced by Fidelity. A summary is available at http://tinyurl.com/4dh7qyx. Jerry Geisel is an editor-at-large for Business Insurance, a sister publication of Crain’s Cleveland Business.