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NSF Director Panchanathan heads the US Delegation at the G20 Chief Science Advisers’ Roundtable in India, signs bilateral agreement

Source: US Government research organizations

U.S. National Science Foundation Director Sethuraman Panchanathan traveled to India at the end of August, making stops in three cities: New Delhi, Bengaluru and Gandhinagar. In New Delhi, he announced a new funding opportunity between NSF and the Indian Ministry of Electronics and Information Technology (MeitY) and signed a bilateral implementation arrangement with the Indian Department of Biotechnology (DBT). He also participated in an industry roundtable organized by the U.S. Embassy. In Bengaluru, he participated in a biotechnology roundtable organized by DBT; and in Gandhinagar, his last stop, Panchanathan represented the United States and Biden administration as Head of the U.S. Delegation at the G20 Chief Science Advisers’ Roundtable.

“In the last five years, NSF has invested nearly $150 million in India through over 200 projects. Just this last year, we launched 35 new joint projects with India’s Department of Science & Technology in emerging technologies,” said Panchanathan alongside MeitY Secretary Alkesh Kumar Sharma, with whom he announced a bilateral funding opportunity on Aug. 21.

Panchanathan continued, “This joint funding opportunity strengthens the foundation of cooperation, collaboration, and joint investment in science and engineering by unlocking fantastic new discoveries, innovations and opportunities across industries like semiconductor research, next generation communication systems, cyber-security, sustainability and green technologies, and intelligent transportation systems.”

The new NSF-MeitY agreement provides fresh funding for joint projects in applied research areas and builds on an Implementation Arrangement signed by Panchanathan and Secretary Sharma at NSF headquarters in May. It also advances the mutual interests of India and the U.S., outlined in a joint statement made by President Joe Biden and Prime Minister Narendra Modi in June, during the latter’s visit to the U.S. – which included a stop at NSF’s headquarters.

On Aug. 22, Panchanathan signed an Implementation Arrangement during a ceremony alongside many notable people, including U.S. Ambassador to India Eric Garcetti, India’s Ambassador to the U.S. Taranjit Singh Sandhu, Secretary for DBT and the Department of Science & Technology Rajesh S. Gokhale, and the Minister of State for the Ministry of Science & Technology, the Honorable Dr. Jitendra Singh.

This is a historic moment for India and the U.S., said Panchanathan. This implementation arrangement provides a framework to encourage collaborations between research communities and sets out the principles that will help make joint activities successful and productive. It has potential to tackle

societies’ most pressing challenges, spur economic growth, and advance technologies and innovations in critical research areas like systems and synthetic biology, protein design, cellular and biochemical engineering, and circular bioeconomy engineering, among others.

That evening, Panchanathan spoke with NDTV-India Reporter Pallava Bagla in a televised interview.

Panchanathan and India’s tech industry leaders discussed new vistas of cross-sector collaborations in emerging technologies, like artificial intelligence and quantum technology during the industry round table in Delhi. In Bengaluru, during the biotechnology roundtable, Panchanathan met with cross-sectoral leaders to discuss “bio-innovations” and other opportunities which would bolster biomanufacturing and the bioeconomy for both nations.

Later that week, Panchanathan traveled to Gandhinagar to represent the United States as Head of Delegation at the G20 Chief Science Advisers’ Roundtable, Aug. 27-29. The meeting, under the leadership of Principal Scientific Adviser to the Government of India Ajay Sood, brought together STEM leaders from G20 members and guest countries to consider evidence-informed science advice with respect to the meeting’s four agenda topics: 

1. Opportunities in One Health for better disease prevention, control and pandemic preparedness.

2. Synergizing global efforts to expand the access to scholarly scientific knowledge.

3. Diversity, equity, inclusion and accessibility in science and technology ecosystem.

4. Creating an inclusive, continuous, and action-oriented Global Science Advice Mechanism.

The G20 Chief Science Adviser’s Roundtable Meeting Outcome Document and Chair’s Summary may be found on the White House website.

Panchanathan’s trip to India reaffirmed both nations’ commitment to shared values and aspirations and illustrated the Director’s belief that teamwork on a global scale among like-minded players powers scalable opportunities, supercharged progress and universal prosperity — a notion which implicitly endorses India’s G20 Presidency theme: “Vasudhaiva Kutumbakam,” or “One Earth, One Family, One Future.”

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Disaster Recovery Centers to Close in Observance of Labor Day, Will Reopen September 5

Source: US Federal Emergency Management Agency

All Disaster Recovery Centers across Vermont will be closed Monday, Sept. 4, 2023, in observance of Labor Day.

They will reopen at 8 a.m., Tuesday, Sept. 5, and continue regular hours of 8 a.m. to 6 p.m. Monday through Saturday, closed Sunday. Here are the locations:

Waterbury Armory
294 Armory Drive
Waterbury, VT 05676

Barre Auditorium
16 Auditorium Hill
Barre, VT 05641

Barton Memorial Building 
17 Village Square 
Barton, VT 05822

Northern VT University — McClelland Hall 
131 College Hill Road 
Johnson, VT 05656

Vermont College of Fine Arts University 
36 College St. 
Montpelier, VT 05602

Cabot Town Hall  
3084 Main St. 
Cabot, VT 05647

Wardsboro Town Hall 
99 Main St. 
Wardsboro, VT 05355

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Biden-Harris Administration Responds to Hurricane Idalia, Encourages People to Be Vigilant to Post-Storm Risks

Source: US Federal Emergency Management Agency

WASHINGTON — Today, FEMA Administrator Deanne Criswell is in Florida and will survey damage from Hurricane Idalia with Gov. Ron DeSantis. Together with Gov. DeSantis, Administrator Criswell will meet with local officials, emergency response staff and meet with survivors. They will be surveying damage in Cedar Key and Horseshoe Beach following briefings at the state Emergency Operations Center in Tallahassee. 

Under President Biden’s leadership, the administration mobilized more than 1,500 federal personnel, including four Incident Management Assistance Teams, over 540 Urban Search and Rescue members and three Disaster Survivor Assistance Strike Teams to support states in Hurricane Idalia’s path. Mobile Emergency Response Support vehicles are also in Florida to ensure communications capabilities. 

FEMA has pre-positioned Disaster Survivor Assistance Strike Teams on standby to survey damages and make assessments. 

Federal response to Hurricane Idalia

Prior to the hurricane’s landfall, FEMA staged commodities and critical supplies, including more than 1.3 million meals and 1.6 million liters of water available pending requests from states. Additional meals, water, tarps and infant and toddler kits are in transit.

U.S. Army Corps of Engineers deployed teams and resources to assist the state with infrastructure, power assessment and temporary roofing requirements as needed. 

The U.S Department of Health and Human Services declared a Public Health Emergency for the state of Florida Wednesday. This declaration gives the Centers for Medicare and Medicaid Services health care providers and suppliers greater flexibility in meeting emergency health needs of those who use Medicare and Medicaid. Medical and disaster management professionals deployed to Florida to address the potential health effects of Hurricane Idalia. These personnel include National Disaster Medical System health and medical task force members and pharmacists.

Non-profit partner support for Hurricane Idalia survivors

  • Our non-profit partners are critical to meeting the immediate needs of survivors after disasters.
  • The Salvation Army has mobile feeding units staged in Lakeland, Florida, with additional teams on standby.
  • Team Rubicon and the American Red Cross both deployed staff and volunteers ahead of the storm to help meet immediate needs of survivors and conduct damage assessments. 

Stay safe after Hurricane Idalia

If you are in an area that has been affected by the storm, be aware of continued risks. Residents and visitors in potentially affected areas should have a family emergency communications plan, keep their devices charged, ensure they are receiving emergency alerts and check on neighbors, especially older adults or those who may need additional assistance. 

  • Use generators safely. Generators can be helpful when the power goes out. It is important to know how to use them safely to prevent carbon monoxide poisoning and other hazards. Generators and fuel should always be used outdoors at least 20 feet away from windows, doors and attached garages. 
  • Stay off the roads. Emergency workers may be assisting people in flooded areas or cleaning up debris. You can help them by staying off the roads and out of the way. 
  • Don’t drive through flood waters. Almost half of all flash flood deaths happen in vehicles. When in your car, look out for flooding in low-lying areas at bridges and at highway dips. As little as 6 inches of water may cause you to lose control of your vehicle.
  • Do not walk or wade in flood waters. The water may be contaminated by oil, gasoline or raw sewage. It may also include dangerous wildlife. If your basement flooded, never attempt to turn off power or operate circuit breakers while standing in water. 
  • Be careful when cleaning up. Wear protective clothing, including a long-sleeved shirt, long pants, work gloves and sturdy thick-soled shoes. Do not try to remove heavy debris by yourself. 
  • Avoid downed power or utility lines. Consider all downed lines live with deadly voltage. Stay away and report them immediately to your power or utility company.

For additional information on staying safe during and after disasters, visit Ready.gov or Listo.gov. 

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Updated Investor Bulletin: An Introduction to 529 Plans

Source: Securities and Exchange Commission

The SEC’s Office of Investor Education and Advocacy is issuing this Investor Bulletin to provide investors with background information on 529 plans. Please also see our companion Bulletin for a few questions to consider before opening a 529 plan account. 

What is a 529 plan?

A 529 plan is a tax-advantaged savings plan designed to encourage saving for future education costs. 529 plans, legally known as “qualified tuition plans,” are sponsored by states, state agencies, or educational institutions and are authorized by Section 529 of the Internal Revenue Code. 

There are two types of 529 plans: education savings plans and prepaid tuition plans. Most education savings plans are available to everyone, but a few have residency requirements for the saver and/or beneficiary. Prepaid tuition plans typically have residency requirements. One exception is a prepaid tuition plan sponsored by a group of private colleges and universities. 

The person who opens the 529 plan account is called the account holder or the saver. The person the account is opened for is called the beneficiary or the student. The account holder and the beneficiary can be the same person.

What are the differences between education savings plans and prepaid tuition plans? 

Education Savings Plans. Education savings plans let a saver open an investment account to save for the beneficiary’s future qualified higher education expenses. Qualified higher education expenses include tuition, mandatory fees and room and board. Withdrawals from education savings plan accounts can generally be used at any college or university, including sometimes at non-U.S. colleges and universities. Education savings plans can also be used to pay for other education-related expenses. These include up to $10,000 per year per beneficiary for tuition at any public, private, or religious elementary or secondary school; certain expenses required for participation in registered apprenticeship programs; and qualified education loan repayments up to $10,000 total per beneficiary. 

A saver may typically choose among a range of investment options, which often include various mutual fund and exchange-traded fund (ETF) investments and a principal-protected bank product. Education savings plans also may include static fund portfolios and age-based portfolios (sometimes called target-date portfolios). These portfolios include a combination of different types of ETFs and/or mutual funds and are designed to help diversify the risk in the account. Typically age-based portfolios automatically shift funds into more conservative investments as the beneficiary gets closer to college age, but static fund portfolios will keep the same mix of investments. If you are using a 529 account to pay for elementary or secondary school tuition, you may have a shorter time horizon for your money to grow. You may not feel comfortable taking on riskier or more volatile investments if you plan on withdrawing the money soon. Therefore, you may consider different investment options depending on when you plan to use the money that is invested.

All education savings plans are sponsored by state governments, but only a few have residency requirements for the saver and/or beneficiary. State governments do not guarantee investments in education savings plans. Education savings plan investments in mutual funds and ETFs are not federally guaranteed, but investments in some principal-protected bank products may be insured by the FDIC. As with most investments, you can lose money in an education savings plan.

Prepaid Tuition Plans. Prepaid tuition plans let a saver or account holder purchase units or credits for the beneficiary to use in the future at participating colleges and universities. The saver is essentially pre-paying future tuition and mandatory fees at the current prices of tuition and mandatory fees. The participating colleges and universities are typically public, in-state institutions in the state that sponsors the plan. Prepaid tuition plans are not as flexible as education savings plans because the credits can only be used for future tuition and mandatory fees at certain schools. If the beneficiary does not attend a participating college or university, they can typically still receive money from the plan to help pay for college tuition and mandatory fees, but the amount is determined by the particular plan.

Most prepaid tuition plans are sponsored by state governments and have residency requirements for the saver and/or beneficiary. Prepaid plans are not guaranteed by the federal government. Some state governments guarantee the money paid into the prepaid tuition plans that they sponsor, but some do not. If your prepaid tuition payments aren’t guaranteed, you may lose some or all of your money in the plan if the plan’s sponsor has a financial shortfall. In addition, if a beneficiary doesn’t attend a participating college or university, the prepaid tuition plan may pay less than if the beneficiary attended a participating college or university. It may only pay a small return on the original investment, depending on how the plan calculates your return.

What fees and expenses will I pay if I invest in a 529 plan? 

It is important to understand the fees and expenses associated with 529 plans because they lower your returns. Fees and expenses will vary based on the type of 529 plan (education savings plan or prepaid tuition plan), whether it is a broker- or direct-sold plan, the plan itself and the underlying investments. You should carefully review the plan’s offering circular to understand what fees are charged for the plan and each investment option.

Education Savings Plans. Education savings plans may charge an enrollment/application fee, annual account maintenance fees, ongoing program management fees, and ongoing asset management fees.   The asset management fees will depend on the investment option you select. Investors that purchase an education savings plan from a broker are typically subject to additional fees, such as sales loads or charges at the time of investment or redemption and ongoing distribution fees.

Prepaid Tuition Plans. Prepaid tuition plans may charge an enrollment/application fee and ongoing administrative fees.  

Fee Saving Tips

If you are interested in contributing to an education savings plan, be sure to research plans sponsored by states other than your state of residence. If an “out of state” plan has lower costs than your in-state plan, the cost savings may outweigh the benefits of the in-state plan, even when taking tax incentives (see below) or other benefits into consideration.

Many states offer direct-sold education savings plans in which savers can invest without paying additional broker-charged fees. In addition, some education savings plans will waive or reduce the administrative or maintenance fees if you maintain a large account balance, participate in an automatic contribution plan, or are a resident of the state sponsoring the 529 plan. Some 529 plans also offer fee waivers if the saver accepts electronic-only delivery of documents or enrolls online.

How does investing in a 529 plan affect federal and state income taxes? 

Investing in a 529 plan may offer savers special tax benefits. These benefits vary depending on the state and the 529 plan. In addition, state and federal laws that affect 529 plans could change. You should make sure you understand the tax implications of investing in a 529 plan and consider whether to consult a tax adviser.

Contributions. Many states offer tax benefits for contributions to a 529 plan. These benefits may include deducting contributions from state income tax or matching grants but may come with various restrictions or requirements. In addition, you may only be eligible for these benefits if you invest in a 529 plan sponsored by your state of residence.

Withdrawals. If you use 529 account withdrawals for qualified higher education expenses or the other expenses detailed above, earnings in the 529 account are not subject to federal income tax and, in many cases, state income tax. However, if 529 account withdrawals are not used for these expenses, they will be subject to state and federal income taxes and an additional 10% federal tax penalty on earnings.

One exception is that you can rollover funds in a 529 account into a Roth IRA account for the same beneficiary. This could be helpful if you have money left over after your student finishes college. These rollovers have some restrictions. For example, the total rollover amount is limited to $35,000, annual Roth IRA contribution limits apply, the 529 account has to have been open for at least 15 years, and the funds you rollover must have been in the 529 account for at least five years.

One of the benefits of 529 plans is the tax-free earnings that grow over a period of time. The longer your money is invested, the more time it has to grow and the greater your tax benefits. You will lose some of these potential benefits if you withdraw money from a 529 plan account within a short period of time after it is contributed.

What restrictions apply to an investment in a 529 plan?

There will likely be restrictions on any 529 plan you may be considering. Before you invest in a 529 plan, you should read the plan’s offering circular to make sure that you understand and are comfortable with any plan restrictions.

Investments. Education savings plans have certain pre-set investment options. It is not permitted to switch freely among the options. Under current tax law, an account holder is only permitted to change his or her investment option twice per year or when there is a change in the beneficiary.

Withdrawals. With limited exceptions, you can only withdraw money that you invest in an education savings plan without incurring taxes and penalties for qualified higher education expenses or the other expenses detailed above. One exception is that you can rollover funds in a 529 account into a Roth IRA account for the same beneficiary with some restrictions, which are explained above.

Beneficiaries of prepaid tuition plans may only use their purchased credits or units at participating colleges or universities.  If a beneficiary doesn’t attend a participating college or university, the prepaid tuition plan may pay less than if the beneficiary attended a participating college or university. It may only pay a small return on the original investment, depending on how the plan calculates your return.

Does investing in a 529 plan impact financial aid eligibility?

While different educational institutions treat assets held in a 529 account differently, investing in a 529 plan will generally impact a student’s eligibility to receive need-based financial aid for college. You may also need to consider how having money in your 529 account for future qualified higher education expenses might affect financial aid for your student’s elementary or secondary school tuition. Keep in mind, for many families, the larger part of a financial aid package may be in loans. So, the more you can save for school, the less debt you or your student may have to incur.

Where can I find more information? 

Offering Circulars for 529 Plans. You can find out more about a particular 529 plan by reading its offering circular. The National Association of State Treasurers created the College Savings Plan Network, which provides links to most 529 plan websites. 

Underlying Mutual Funds or Exchange-Traded Funds. Additional information about a mutual fund or ETF that is an investment option in an education savings plan is available in its prospectus, statement of additional information, and semiannual and annual shareholder reports. You can obtain these documents from the plan manager for no charge. You can also review these documents on the SEC’s EDGAR database. 

Fees and Expenses. You can read about the impact fees and expenses have on your investment portfolios in the SEC’s Office of Investor Education and Advocacy’s Updated Investor Bulletin:  How Fees and Expenses Affect Your Investment Portfolio.

Brokers or Investment Advisers. Many education savings plans’ program managers are registered investment advisers. You can search for an investment adviser and view the firm’s Form ADV or Relationship Summary by using the Check Out Your Investment Professional Tool on Investor.gov. You can also use the search tool to find out whether a broker who sells a 529 savings plan product is subject to disciplinary sanctions, information about their professional background and registration and licensing status, and their firm’s Relationship Summary. If you have questions about using the search tool, read our Investor Bulletin: How to Use the Investment Professional Search Tool.

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Biden-Harris Administration Announces $15.5 Billion to Support a Strong and Just Transition to Electric Vehicles, Retooling Existing Plants, and Rehiring Existing Workers

Source: US Department of Energy

WASHINGTON, D.C. — As part of President Biden’s Investing in America agenda, the U.S. Department of Energy (DOE) announced a $15.5 billion package of funding and loans primarily focused on retooling existing factories for the transition to electric vehicles (EVs)—supporting good jobs and a just transition to EVs. This includes making available $2 billion in grants and up to $10 billion in loans to support automotive manufacturing conversion projects that retain high-quality jobs in communities that currently host these manufacturing facilities. In the Domestic Conversion Grant Program, higher scores will be given to projects that are likely to retain collective bargaining agreements and/or those that have an existing high-quality, high-wage hourly production workforce, such as applicants that currently pay top quartile wages in their industry. The Department also announced a Notice of Intent to make available $3.5 billion in funding to expand domestic manufacturing of batteries for electric vehicles and the nation’s grid, as well for battery materials and components currently imported from other countries. The Notice of Intent outlines how DOE will support growing domestic industry while also supporting manufacturing workers and promoting equity and environmental justice. Together, these federal investments underscore President Biden’s deep commitment to helping retain and expand high-paying manufacturing jobs while empowering workers to have a strong voice in and capture the economic benefits of the clean energy transition. The President’s Investing in America agenda is also enhancing our national security by building up the domestic supply chains necessary to reach the Administration’s ambitious climate goals. 

“President Biden is investing in the workforce and factories that made our country a global manufacturing powerhouse,” said U.S. Secretary of Energy Jennifer M. Granholm. “Today’s announcements show that President Biden understands that building the cars of the future also necessitates helping the communities challenged by the transition away from the internal combustion engine.”   

Depending on their capital needs, manufacturers can apply to receive assistance via financial grants through DOE’s Office of Manufacturing and Energy Supply Chains (MESC) or preferable debt financing through DOE’s Loan Program Office.

Converting and Retrofitting America’s Manufacturing Plants
DOE today announced a new $2 billion funding opportunity to spur the conversion of long-standing facilities to manufacture electric vehicles and components. Supported by President Biden’s Inflation Reduction Act, the Domestic Manufacturing Conversion Grants for electrified vehicles program, will provide cost-shared grants for domestic production of efficient hybrid, plug-in electric hybrid, plug-in electric drive, and hydrogen fuel cell electric vehicles. This program will expand manufacturing of light-, medium-, and heavy-duty electrified vehicles and components and support commercial facilities including those for vehicle assembly, component assembly, and related vehicle part manufacturing.  The program aims to support a just transition for workers and communities in the transition to electrified transportation, with particular attention to communities supporting facilities with longer histories in automotive manufacturing. Preference will also be given to projects that commit to pay high wages for production workers and maintain collective bargaining agreements. 

Projects selected for this funding must also contribute to the President’s Justice40 Initiative, which aims to advance diversity, equity, inclusion, and accessibility in America’s workforce and ensure every community benefits from the transition to a clean energy future. This funding supports goals and targets detailed in the 100-day reviews under Executive Order 14017 “America’s Supply Chains and the Federal Consortium for Advanced Batteries’ National Blueprint for Lithium Batteries,” which provides a path to building a strong domestic battery supply chain and accelerating the development of a robust, secure, and equitable domestic industrial base by 2030. 

Concept papers are due October 2, 2023, and the deadline for full applications is December 7, 2023. Learn more about this funding opportunity. 

Leveraging New Loan Authority for Automotive Manufacturing Conversion Projects
DOE is also making up to $10 billion in loan authority available for applications under the Advanced Technology Vehicles Manufacturing Loan Program for automotive manufacturing conversion projects that retain high-quality jobs in communities that currently host manufacturing facilities. Examples include retaining high wages and benefits, including workplace rights, or commitments such as keeping the existing facility open until a new facility is complete, in the case of facility replacement projects. For projects that seek financing to convert or directly replace an existing factory that has high-quality jobs, DOE will assess the projected economic impacts of the facility conversion relative to the existing facility, including factors such as contribution to the local economy, employment history, anticipated employment, and duration of its existence. Interested applicants can learn more about how to apply for these projects here. 

Bolstering American Battery Manufacturing, Strengthening Domestic Supply Chains
DOE also announced today its intent to invest approximately $3.5 billion to boost production of advanced batteries and battery materials that are critical to rapidly growing clean energy industries of the future, including electric vehicles and energy storage. This notice of intent—made possible by the President’s Bipartisan Infrastructure Law—represents the second round of funding for battery materials processing and battery manufacturing grants to support the creation of new, retrofitted, and expanded domestic commercial facilities for battery materials, battery components, and cell manufacturing.  The Notice of Intent outlines how round II will support growing domestic industry, supporting manufacturing workers, and promote equity and environmental justice.   The program will support communities with experienced auto workers and a history of producing vehicles, applicants with strong workforce practices, and applicants who plan to create high-quality jobs. 

Today’s announcements were made possible by President Biden’s Investing in America agenda, which is growing the American economy from the bottom up and middle-out by rebuilding our nation’s infrastructure, driving over $500 billion in private sector manufacturing and clean energy investments in the United States, creating good-paying jobs and supporting collective bargaining, and building a clean-energy economy that will combat the climate crisis and make our communities more resilient. 

Both the conversion grant funding opportunity and battery manufacturing notice of intent will be administered by MESC. Learn more about MESC’s mission to strengthen and secure manufacturing and energy supply chains needed to modernize the nation’s energy infrastructure and support a clean and equitable energy transition. Conversion Project loans are made available by ATVM, administered by LPO. Learn more about ATVM projects and eligibility requirements. 

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United States Mint Opens Sales for 2023 American Eagle One Ounce Palladium Uncirculated Coin on September 7

Source: United States Mint

WASHINGTON – The United States Mint (Mint) will begin accepting orders for the 2023 American Eagle One Ounce Palladium Uncirculated Coin (product code 23EK) on September 7 at noon EDT.

The coin contains one ounce of 99.95 percent palladium and is the collector version of the official United States Mint American Eagle One Ounce Palladium Bullion Coin, which launched in 2017. Finishes on collector coins in this program may alternate each year. In 2018, the Mint issued a proof finish palladium coin, followed by a reverse proof finish coin in 2019. This collector coin was offered in uncirculated finish in 2020, in a proof finish in 2021, and a reverse proof finish in 2022.

Palladium coin designs are based on those by famed American coin designer and medallic artist Adolph A. Weinman. The obverse (heads) features a high-relief likeness of “Winged Liberty” from the “Mercury Dime” obverse. In keeping with the original coin, inscriptions are “LIBERTY,” “IN GOD WE TRUST,” “2023,” and Weinman’s distinct initials. The coin’s reverse (tails) features a high-relief version of Weinman’s 1907 American Institute of Architects Gold Medal reverse design, which includes an eagle and a branch. Inscriptions are “UNITED STATES of AMERICA,” “$25,” “1 OZ. Pd .9995 FINE,” and “E PLURIBUS UNUM.” Pd is the chemical symbol for palladium.

Each coin is encapsulated and packaged in a satin-lined gray leatherette presentation case. A certificate of authenticity is included.

Pricing for the American Eagle One Ounce Palladium Uncirculated Coin will be determined according to the range in which it appears on the Mint’s “Pricing of Numismatic Gold, Commemorative Gold, Platinum, and Palladium Products” table. Click here for the most current pricing information.

To set up a REMIND ME alert for this product, visit https://catalog.usmint.gov/american-eagle-2023-one-ounce-palladium-uncirculated-coin-23EK.html/. Information about shipping options is available at catalog.usmint.gov/customer-service/shipping.html.

Orders are limited to 10 coins per household for the first 24 hours of sales. The mintage and product limits are set at 6,000 units. This coin is included in the Mint’s Authorized Bulk Purchase Program.

About the United States Mint
Congress created the United States Mint in 1792, and the Mint became part of the Department of the Treasury in 1873. As the Nation’s sole manufacturer of legal tender coinage, the Mint is responsible for producing circulating coinage for the Nation to conduct its trade and commerce. The Mint also produces numismatic products, including proof, uncirculated, and commemorative coins; Congressional Gold Medals; silver and bronze medals; and silver and gold bullion coins. Its numismatic programs are self-sustaining and operate at no cost to taxpayers.

Note: To ensure that all members of the public have fair and equal access to United States Mint products, the United States Mint will not accept and will not honor orders placed prior to the official on-sale date and time of Sept. 7, 2023, at noon EDT.

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Saunders: ‘Gallup poll confirms what we’ve known for a long time: Americans believe in the power of unions to strengthen our economy’

Source: American Federation of State, County and Municipal Employees Union

WASHINGTON – AFSCME President Lee Saunders released the following statement in response to Gallup’s annual poll on labor unions:   

“As we prepare to celebrate Labor Day weekend, this year’s Gallup poll confirms what we’ve known for a long time: Americans believe in the power of unions to strengthen our economy and improve the lives of working people. Not only has the overall favorability of unions remained high, but it is increasing across all demographics – especially among the younger generation that will lead the labor movement in the future. According to additional polling from the AFL-CIO, an unprecedented 88% of Americans under 30 approve of unions. 

“There is a rising wave of worker activism nationwide, with AFSCME leading the way. We have continued to organize nonstop. Six thousand workers at museums, libraries, zoos and other cultural institutions have joined AFSCME since 2019. We are negotiating some of our strongest contracts in decades. In Colorado, AFSCME members have been working to organize more than 36,000 county workers who won collective bargaining rights last year. In New Orleans, municipal employees represented by AFSCME won the freedom to negotiate a few months ago.   

“We have also stood in solidarity with workers nationwide – from actors and screenwriters to hotel workers and Starbucks baristas – who are engaged in fights for dignity and respect, even going on strike to get a fair shake on the job.  

 “We will take this momentum with us in our continued work towards ensuring all working people have a secure future.” 

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New Issue of IAM Educator Out Now!

Source: US GOIAM Union

The William W. Winpisinger Education and Technology Center is pleased to announce that a new issue of IAM Educator, an indispensable resource for union stewards, is now available. This issue investigates the rise of child labor in the workplace and how unions can use their strength to combat the trend and make workplaces safer for all workers. It also has articles on union membership gains and the NLRB ruling that employers must reimburse lost wages and other fees workers incur when illegally fired for organizing in the workplace.

Previously, IAM Educator was made available through Issuu, an online platform for publications, but the company discontinued the mobile version of the app earlier this year. The Winpisinger Center is investigating other methods of distribution but for now the new issue of IAM Educator is easily accessible at this link.

While new issues of IAM Educator are only available as an electronic publication, the Winpisinger Center has back issues of volumes 1-17 in paper. If you would like to have a selection of these back issues mailed to your Local Lodge, please complete and submit this form. We are making digital issues of volumes 1-17 as well, in English (Canadian and U.S.), French, and Spanish. 

We hope the membership finds IAM Educator useful and relevant to concerns in today’s ever-changing workplaces. Please direct any questions or feedback about the IAM Educator to the Winpisinger Center. 

The William W. Winpisinger Education and Technology Center is pleased to announce that a new issue of IAM Educator, an indispensable resource for union stewards, is now available. This issue investigates the rise of child labor in the workplace and how unions can use their strength to combat the trend and make workplaces safer for all workers. It also has articles on union membership gains and the NLRB ruling that employers must reimburse lost wages and other fees workers incur when illegally fired for organizing in the workplace.

Previously, IAM Educator was made available through Issuu, an online platform for publications, but the company discontinued the mobile version of the app earlier this year. The Winpisinger Center is investigating other methods of distribution but for now the new issue of IAM Educator is easily accessible at this link.

While new issues of IAM Educator are only available as an electronic publication, the Winpisinger Center has back issues of volumes 1-17 in paper. If you would like to have a selection of these back issues mailed to your Local Lodge, please complete and submit this form. We are making digital issues of volumes 1-17 as well, in English (Canadian and U.S.), French, and Spanish. 

We hope the membership finds IAM Educator useful and relevant to concerns in today’s ever-changing workplaces. Please direct any questions or feedback about the IAM Educator to the Winpisinger Center. 

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Architectural Workers United Files Unfair Labor Practice Charge Against Snøhetta for Unlawful Discrimination

Source: US GOIAM Union

The Architectural Workers United campaign, a division of the International Association of Machinists and Aerospace Workers (IAM), has filed an Unfair Labor Practice (ULP) charge with the National Labor Relations Board (NLRB) against North American architecture firm Snøhetta for violating their employees’ rights under the National Labor Relations Act.  

The ULP charge alleges Snøhetta unlawfully discriminated against several employees because of their support for union organizing.

“We trust that the National Labor Relations Board, upon hearing the evidence, will rule accordingly and in favor of the workers,” said IAM Eastern Territory General Vice President David Sullivan. “Today’s filing sends a message to the architecture industry that they are no different from any other industry and that if employers use illegal tactics to obstruct their employees from organizing, they will be held accountable.”

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Updated Investor Bulletin: 10 Questions to Consider Before Opening a 529 Account

Source: Securities and Exchange Commission

The SEC’s Office of Investor Education and Advocacy is issuing this Investor Bulletin to answer questions that may arise when investing in a 529 plan account. Please also see our companion Bulletin, An Introduction to 529 Plans, for background information on the plans.

1.  Who can use a 529 plan and what can it be used for?

A 529 plan can be used to save for certain educational expenses for any student in your family, including yourself. These educational expenses include college or other post-secondary education (qualified higher education expenses), as well as tuition for elementary or secondary public, private, or religious schools. Education savings plans can also be used to pay for certain expenses required for participation in registered apprenticeship programs and qualified education loan repayments up to $10,000 total per beneficiary. 

The person who opens the 529 plan account is called the account holder or the saver. The person the account is opened for is called the beneficiary or the student. The account holder and the beneficiary can be the same person.

2.  When should I start saving in a 529 plan account?

You should consider saving as early as you can, taking into account your family’s overall financial situation and other financial goals you may have. One of the benefits of 529 plans is the tax-free earnings that grow over a period of time. The longer the money is invested, the more time it has to grow and the greater your tax benefits. You will lose some of these potential benefits if you withdraw money from a 529 plan account within a short period of time after it is contributed.

3. Should I save through a 529 plan or are there other ways to save for an education? 

Investing in a 529 plan is only one of several ways to save for an education. Other tax-advantaged ways to save for an education include Coverdell education savings accounts, Uniform Gifts to Minors Act (UGMA) accounts, Uniform Transfers to Minors Act (UTMA) accounts, tax-exempt municipal securities, and savings bonds. Saving or investing for an education in a taxable account or with other types of investments are also options. Each option for saving for an education has advantages and disadvantages and may have a different impact on your student’s eligibility for financial aid and your tax situation. For additional information on tax implications, please consult a tax adviser.

4.  Should I invest in a 529 education savings plan or a 529 prepaid tuition plan?

In addition to traditional 529 education savings plans that allow savers to open investment accounts to save for an education, some states and a group of private colleges also offer 529 prepaid tuition plans.

Education savings plans are typically more flexible than prepaid tuition plans. They usually don’t have residency requirements, offer different kinds of investment options, and can generally be used at any college or university for tuition, mandatory fees and room and board. They can also be used to pay for tuition at elementary and secondary schools, certain expenses required for participation in registered apprenticeship programs, and qualified education loan repayments up to $10,000 total per beneficiary. As with any investment, however, education savings plans also expose your saved money to investment risk, including loss of principal.

Prepaid tuition plans allow savers to purchase units or credits for the beneficiary to use in the future at participating colleges and universities. The saver is essentially pre-paying future tuition and mandatory fees at the current prices of tuition and mandatory fees. The participating colleges and universities are typically public, in-state institutions in the state that sponsors the plan. Prepaid tuition plans are not as flexible as education savings plans because the credits can only be used for future tuition and mandatory fees at certain schools. If the beneficiary does not attend a participating college or university, they can typically still receive money from the plan to help pay for college tuition and mandatory fees, but the amount is determined by the particular plan. The plan may only pay a small return on the original investment, depending on how the plan calculates your return. When considering a prepaid tuition plan, you should understand the restrictions and limitations of the plan, including the extent to which your money is guaranteed and what happens to your money if the beneficiary doesn’t attend a participating college or university.

Both types of 529 plans offer tax benefits and have a similar impact on financial aid for post-secondary education.

Please see the Investor Bulletin, An Introduction to 529 Plans, for more information about the differences between education savings plans and prepaid tuition plans.

5.  If I choose a 529 education savings plan, which plan should I choose? 

You can invest in almost any state 529 education savings plan or even in multiple plans regardless of where you live. You should compare plans to determine which one is right for your family, but a good place to start is your state’s plan. Many states offer tax incentives or other benefits for their residents.  Make sure you do your research because these benefits vary depending on the state and the 529 plan. In addition, state and federal laws that affect 529 plans could change.

But don’t stop there. There can be significant differences in costs from plan to plan, so find out how your in-state plan compares on costs. Investing in a lower-cost “out of state” plan may outweigh the benefits of investing in a higher-cost in-state plan, even taking tax incentives or other benefits into consideration.

Finally, there may be reasons other than fees and residency benefits that make one plan more desirable for your family. These could include the investment options available or the ability to change the account holder or beneficiary.

You should understand all of the limitations or restrictions of any plans you are considering.

6. If I have the option, should I go through a broker or open a 529 account directly?

Many states have both direct-sold and broker-sold 529 education savings plans available. If you already have a financial professional or want someone who will help you with the process of selecting a plan and/or plan investments, you may consider opening an account in a broker-sold 529 plan. But, keep in mind that broker-sold plans usually have additional fees. If you prefer not to use the services of a broker or are generally comfortable making your own investment decisions, you should consider opening an account directly with the state sponsor or program manager.

7.  How do I choose among the investment options in a 529 education savings plan?

Each education savings plan typically has a range of investment options, and you can allocate your money among several investment options or just one.

When considering your options, you should think about the fees of each investment option (usually the lower the better, all things being equal), and the level of risk and potential investment return you want (both of which may depend on how long until your student will use the money).  For example, if you plan to withdraw money from a 529 plan account within a short period of time after it is contributed to pay for elementary or secondary school tuition, you may have a shorter time horizon for your investment to grow and want to pick less risky investments.   

The investment options often include various mutual fund and exchange-traded fund (ETF) investments and a principal-protected bank product. Education savings plans also may include static fund portfolios and age-based portfolios (sometimes called target-date portfolios). These portfolios include a combination of different types of ETFs and/or mutual funds and are designed to help diversify the risk in your account. Typically age-based portfolios automatically shift your funds into more conservative investments as the beneficiary gets closer to college age, but static fund portfolios will keep the same mix of investments. Be aware that some of these portfolios sometimes have higher fees.

You should consider how often you want to review the investments and allocations, and potentially reallocate or change your options as your student gets older. Current federal tax law allows you to change investment options up to twice a year or when you change the plan’s beneficiary. Consider whether you want to be in control of those changes, or whether you want it to happen automatically (for example, with an age-based portfolio). 

8.  How should I fund the 529 account?

You should save money in your 529 account in a way that makes sense for your family. Many plans have a minimum initial deposit, often $250 or lower, and a minimum for subsequent deposits. Sometimes the minimum for subsequent deposits is lower if you set up an automatic investment plan, which may also help you stick to your savings goal. Keep in mind that states that offer tax benefits for contributions often limit the size of the annual contribution that is eligible for the tax benefit although you can contribute more if you want to save more money. Also, most plans have a lifetime limit on total contributions.

9.  What do I do while my student is in school?

You should consider how you are going to withdraw and use the money from your student’s 529 account to fund his or her education. To begin with, consider whether you will use money in the 529 account earlier to pay for elementary or secondary school tuition or later for college or apprenticeship expenses. Before your student gets to college, you may need to consider how having money in your 529 account for future qualified higher education expenses might affect financial aid for your student’s elementary or secondary school tuition. Once your student has enrolled in college, you may want to consider, for example, what types of financial aid your student is receiving, how you want to structure any loans during the years your student is in college, the impact using the 529 funds will have on subsequent years’ financial aid awards, and how much money you have available in the 529 account or in other savings vehicles.

Regardless of when you use the money, consider how you want to allocate your withdrawals among the investments if you have multiple investments. This is especially true if you have chosen different investment options for elementary or secondary tuition and for qualified higher education expenses. For example, you may want to redeem a certain investment first or make withdrawals proportionately among all your investments. Also, if your student is the beneficiary of multiple 529 plans, you should consider how you want to allocate your withdrawals among the plans.

If you can afford it, there may be benefits to continuing to contribute to the 529 account until your student completes college. You can continue to get any state income tax benefits on the contributions and tax-free income on the investments. 

10.  What can I do if my student didn’t use all the money in the 529 account?

Some families may end up with money in a 529 account after their student is finished with school. If you use the money for purposes other than paying for qualified higher education expenses or the other expenses detailed above, the earnings portion of these withdrawals will be subject to federal income tax as well as a 10% penalty. These withdrawals may also be subject to state income tax if you claimed a deduction or credit for your contributions. If your student received a scholarship, you can generally withdraw money from a 529 account up to the amount of the scholarship without a penalty, but you will still have to pay taxes on any income earned.

You may be able to avoid paying any penalties and taxes if you change the beneficiary of the 529 account or transfer the assets to another 529 account, but the recipient in both instances would need to be a person in the same family. Or you could keep the savings in the 529 account if your student is considering graduate school. In addition, you can rollover funds in a 529 account into a Roth IRA account for the same beneficiary. These rollovers have some restrictions. For example: the total rollover amount is limited to $35,000; annual Roth IRA contribution limits apply; the 529 account must have been open for at least 15 years; and the funds you rollover must have been in the 529 account for at least five years. Make sure you understand the tax implications of investing in a 529 account and consider whether to consult a tax adviser.

Additional Information

You can find the offering circular for most 529 plans through the College Savings Plan Network website, which has a link for state 529 plans.

You can learn more about the mutual funds and ETFs that are investment options in an education savings plan by reading each product’s prospectus, statement of additional information, and semiannual and annual shareholder reports, which are available in the SEC’s EDGAR database. 

You can read about the impact fees and expenses have on your investment portfolios in the SEC’s Office of Investor Education and Advocacy’s Updated Investor Bulletin:  How Fees and Expenses Affect Your Investment Portfolio.

Consider using Investor.gov’s compound interest and savings goal calculators to assist you in determining how much money you will need to save or how to fund your account.

You can find information about investment advisers who manage the underlying mutual funds and ETFs or the 529 plans themselves using the Check Out Your Investment Professional Tool on Investor.gov. You can also look up the brokers who sell 529 plans.  If you have questions about using the search tool, read our Investor Bulletin: How to Use the Investment Professional Search Tool.