one thing to be aware of, the 401 k match is a benefit like health care. in this case, with trying to justify changing the match schedule to based upon the fact health care costs were increasing. each company has a choice. they can choose to potentially change the match and make the employee pay more for health care or do the reverse. i think it will be a company by company decision. >> the move to give you a lump sum for the 401 k at the end of the year as long as you're with the company on december 31st, that may be the way some companies choose to do it but then you're basically losing out on 11 months worth of investment income, hopefully investment income and you end up market timing rather than investing on a regular basis on a monthly basis. >> you know, i don't see it as that big of a deal. obviously it's a problem for investors or participants who leave the 401 k plan during the year. losing potentially 8% on the match isn't going to really affect someone that much. i think there is other things the company could do to potentially make employees m

grant classese-k throughout the state.last year a 9.4 million -- $9.4 million increase was given to expand alabama's first class. enhancing the quality of existing program serving four-year-olds. increasing access from six percent to nine percent. community-based, military-based programs. faith-based programs as well. early childhood professionals worked to develop across the state, and now refined, the alabama first-class pre-k framework. this means monitoring for a replicate of a model for high quality pre-k programs. the goal would be to provide access to volunteering for high quality pre-k in alabama for parents who choose to have their child participate. the classrooms are selected through a competitive rant process. this process carefully examines criteria, indicating the ability to meet specific quality assurances and abide by rigorous operating guidelines, as well as current access available in the communities. visitors have hit potential sites to evaluate the conditions of a proposed class. there are three competi

background of the gary light rail project it's the only project that's not been funded through prop k. the transit is supposed to be rail ready and if it's supposed to be rail ready and it has to stop at the union square it should be rail ready you should everyone should do their homework and see the documents and see what's been done in the past to the future. thank you very much >> thank you very much other members of the puc public that want to speak in general public comment. seeing none, public comment is closed. madam clerk >> item 11 adjournment thank you. this meeting is >> good morning, everyone this is the tuesday, february 11, 2014, meeting of san francisco transportation authority plans & programs committee. my name is supervisor mar >> item role. supervisor campos. supervisor kim. supervisor mar present and supervisor yee present we have compound >> i'd like to call the citizens advisory report. >> we're joined by your chair john avalos and mr. flanagan. >> good morning. my name is a joseph flanagan i'm the cac vice chair. those are the two items on the agenda that we took

well, i was here when 401(k)'s started. sounded like a good idea, easy way for people to -- to -- to save. but decades, decades after the start of 401(k)'s, the number of workers participating in these plans has stayed flat. according to monique morrissey of the economic policy institute, in 1989, participation in 401(k)'s was at 46% of the work force. 2010, it was 45%. so it's just stayed flat. now, we have seen some modest increases in savings the last few years. that's what people told me at our hearings, "well, we've seen some modest increases." i said, really, okay, let's take a look at it. because this kind of surprised me that we had an uptick in savings. but then we looked at the data. and what does it show? it shows who's saving what. the top 10% income earners -- the top 10% of income earners in america have 100 times more saved for retirement than the median household. so we charted it out. if you see back here in 1989, they weren't too far apart. so here's the top 10%. the top 10% now have an average of $239,000

the second item 6 allocation of prop k and double fund for 4 requests this item was also passed unanimously by the cac without substantive decision. thank you. and that concludes my report. thank you >> thank you, mr. gleaning open this up for public comment seeing none, public comment is closed. thank you, ms. chang - first, the consent calendar is there anyone that would like the sever any items on the consent calendar. seeing none. ms. chang please call the consent calendar >> consent calendar items 2 and 3 are routine and will be acted upon by a single vote and we'll need items 2 and 3 approved. >> seeing no comments from colleagues, can we take those without objection. >> item 5 recommended appointment of two members for t the sense advisory committee. the transportation authority code the committee recommended the appointment of citizen advisory committee and you're ready evenly closing closure you have two applications. in told them one for this item you see the listing for the current citizens advisory members now to quality one must be a san francisco resident and poirtd once befor

david: i shifted 401(k)s various times.e year close to the time of the financial melt down i did it several times. i did it so often i got a call from fidelity saying hey, you can't do this. i got really, nasty threatening letter. was that, can they still do that? can they still limit amount of changes that we make in any course of time? >> oh, it is really up to the employer. they set the ground rules. can say only do x-trades per year and you're stuck with that. most people are not educated as bright as you might have been. i assume you make brilliant choices. david: i held my own. i didn't lose any. >> they are the ones set ground rules up. it is crazy system. not like a bunch of policymakers said how do we deal with retirement? let's create this 401(k). it was part of legislation in late '70s, slipped in the back level. blow this thing out. i see opportunity. now it is largest retirement plan for vast majority of americans. david: absolutely. they are finally expanding the opportunities for people in it. again, a self-b

this is the proposed 2 hundred and thirty k v substation. and, you know, it's a small footprint building. it's, you know, well designed and has a nice street front this building you could build a mixed section or commercial next to it. the project requires a series of approval sequa has been performed by commission and the city port as approval and the dbe has approvals and the army core of engineers have approval rights. the proposed terms in the term sheet we've got a license area - >> i apologize so those are approvals you're seeking or you've obtained. >> sequa is finished. the other permits for the project happen later so i don't know about the permit for the project yet. we would report to you on the status of those permits when we come back on the binding license agreements >> so what was it like getting the transbay xabl cable from pittsburgh. >> they were not significant problems with that project so you know the environmental process didn't show damage from the cable it's been done in ma many areas of the bay and the regulatory age

first in 401(k) k options for an index fund and find one with cheap costs. do you consider cheap coo? 1% or less? what is the metric? >> cheap would be .1 of 1%. .2 or .3%. not 1%. that is very expensive. 1 1/2% is ridiculously expensive. adam: if i can't get that in my 401(k) what do i do? >> if you don't have choices available lobby your boss. your boss has incentive to give you the kind of cheap funds you want, not only because he wants to make you happy. this is an employee benefit. because if he doesn't do that, you could sue him for violating his fiduciary duties. so you would be surprised how cooperative your boss might be at introducing these very inexpensive funds. adam: all right. listen, i appreciate you joining us. ric edelman. this is important stuff. we'll post it because people need to lobby their c-suite or their bosses and look for the index fund and cheap costs within your 401(k). appreciate it. all the best to you. >>> want to take you back to ukraine and kiev which is erupping. nine people dead according to reuters. the united states issu

v system had serves most of the city and there's a separate 2 hundred and thirty k v system that's in blue that serves the downtown area. it's been the policy of this city since the board adapted an ordinance of the electricity program trying to combine those systems so they can enter connect. you'll see the embarcadero substation served by the - >> excuse me. do we have handout for the slide. >> i can produce them for you later. >> i can see them now on the screen. >> i'm sorry. i'll produce copies for your office. so what's in blue is the 2 hundred and thirty k v system downtown and purple is the remaining of the city. as you see here what's old in red is served by the embarcadero serve station monthly downtown. the problem with going back to the other slide the problem with the k v system both lines serving embarcadero system runs across the city with liquidtion. those lines could be severed leaving downtown without electricity so this is to provide redundancy of service for downtown. we studied 3 potential routes two of them involve port property and one north of piers thirty and

now the appellant is here do i donating tonight with the deduct core system that's been used by m k a they looked at newspapers articles and this ground has been plowed over for many, many years and the design approach and the deduct approach has bun used in many of the projects that are currently under constricts or have been approved. the affinity the lumina and transbay tower and 350 midgets and the transbay tower. the only argument it the structural platoon is not being used it should be used in a category 3 as opposed to a risk category 2. every high-rise and office building in san francisco per code is built to the risk category 2 level. the code is specific on which a code 3 building should be provided and that's buildings that have obviouscy levels for group occupancy of 3 to 5 hundred people or more. the fact that this building like every other high-rise in san francisco risk 2 size standards didn't make it less dangerous. the life safety standard, in fact, the design uses in this case by m k a predicted an absence of a collapse the maximum standard event. the same prediction

for subjected to the cash flow distribution schedules and the strategic plan and relate to prop k. this is an action item >> and the report is here. >> i'm with the transportation authority. this is for prop 8 registration fee for about one-hundred 86 million in total. attachment shows the summary of the applications and this has a recommendation on all. so the first project we're going to continue 62 for the project requests prop a for the 6 locations two on gary as 22nd and 26th avenue and in yerba buena and 18 and as far as one mid block project between princeton and powell it is on told them 2 and also a map on page 15 of the evenly closer that continues the traffic and benefits to the users and senior centers and the centers that this project includes 88 compliant programs sfmta expects the construction to be completed by 2016. the next project sfmta has requested a prop k fund for the 5 intersections to leverage the prompt project funds. this includes the hardware and programs. sfmta coordinating this project with the depending on masonic avenue which will add curbs to accoun

is is aking stock" fakock" fakursday, k" fak 6sday, k" fak 6 f fi'm pimmi'i' focusing f fos sing, we gots sing, we gto -s sing,'ve got to focus ve go extro ac extr ac extrf, extremetr extretr e michaemartom has bemartom mart gu gume.gume and performi n a theater in n rlem, that is a positive is siti s siti weill be dssill beapolloill beapoll beapolbeap theater and its theare.d d d d d d d and d and current career ent care thme champion billme champio cartwright explacartwright expcartwright expcart restarted his career after basketball.ketbalketbal and gett ady to stomach mount everest.unt ev executivdeils about theile enology behind exnologyind climb.b. t first, ct firs >>inkedin is outinkedin isnin eain eainout wi in its earnings. it fell short of analyl shor estimate es thmp thtomp thth slowdon user growth. g fourth-quarter profit heat aer proheat aer p amongst -- a amongst --es forgst -- acti ough. d news corp.d news corp.d publisher behindpubll strebehindpubl beurnal, i d a mixed earningsd earningsrt.gsrtgsgs xed earnin xed eartisingxed eartisingxe sales continue to fall. to c b

eall in central p a k a k in central park we'ral in' 'gu ' agu ' agu ' to ese aren'tese aren' e arensevolvarens thntral l park. rk. these are species that have neen identneied. nt >> thewere the>> butobodyheodyhe knew there the they didn' they d name? e? e? >>t's not like something crawled of awlecity lety stles. lele >> as kn charlie, ed chlie, edlie, e wilson's ideas that rooted a lot of this ought and nos that's even more refined is mory're 8is million sp mimeiobut t ey' robably at least tenbly at least teast llion species out there andout ther mayb maybe 20. e 20. e 20. whows, really? ows,eallea >> not even counting the extcoct species. ot even counts the extincoxtincoco specie represent ly all life that e all lifd on the planet. >> s ain? s >> most species are extinct. e ex w've weut a lve o weuts weuts we rough time. >> because of the damage we doma we doma to the ecosystemto the eco to the eco >> no, 'm talking a'm stg ab extinctions. >> because of meteorites and all th >> and a species really -- the best we can tell, a we can te s on ave abos a ave abos ve ye so we havesoundre

i'm talking to you about k 2 in that case. i would be happy to talk to you about k 2 if i can understand it. i beg of you, please look at k 2 and translate that for us. i think i have a general idea of what's going on, but the language is flabber gassing. i ask you to tell us what this resolution is about. speaker: their mr. -- thank you, mr. kelly. we have mr. dana who will speak on the audit on pages 3-17. hi. speaker: good evening, board members, president fewer, vice-president murase and guadalupe guerrero. sorry about that. i have invited leonard dana from the 12-13th district audit to give you the board, a short presentation pertaining to the sfusd 12/13 audit. in addition, mr. dana is able to answer any questions after his presentation. also present is the manager on the audit. nathan middleman. mr. dana? speaker: thank you for accommodating us. i have another time commitment item tonight. i won't take much of your time. but just to let you know we have completed the audit and submitted the audit to the state. just to l

pre-k education tax policy, we've got stables situation.ut there's one thing in particular that is, i think, many new yorkers are talking about and it's in many ways egregious. let's take a look. >> bill deblasio is caught on camera this week eating pizza with a knife and fork. [cheers and applause] [audience boos] >> jon: now bloomberg, as you know, used to have his food chewed and then put back into his mouth like a baby bird but this is unacceptable, sir. so may i -- this is from -- it's called john's pizzeria. [cheers and applause] it's called a -- it's a sausage and mushroom. >> beautiful. >> jon: john's is one of greatest pizza places in the history of pizza. i thought we could share a slice. >> i owe would love a slice. >> jon: what are you doing? [laughter] >> jon: i have to teach you everything. >> i want to say, jon as mayor of napol -- i mean new york city, we are always ready for our pizza. >> jon: oh, my god. [ laughter ] don't even -- come on. come on! talk to me. >> there's another way? >> jon: let me show you something. let

is is aking stock" fakock" fakursday, k" fak 6sday, k" fak 6 f fi'm pimmi'i' focusing f fos sing, weng, we gto -s sing,'ve got to focus ve go extro ac extr ac extrf, extremetr extretr e michaemartom has bemartom mart gu gume.gume and performi n a theater in n rlem, that is a positive is siti s siti weill be dssill beapolloill beapoll beapolbeap theater and its theare.d d d d d d d and d and current career ent care

a 401(k) is the most sound way to go. let's talk asset allocation. sure.d you trust me as your financial advisor? i would. i would indeed. well, let's be clear here. i'm actually a dj. [ dance music plays ] [laughs] no way! i have no financial experience at all. that really is you? if they're not a cfp pro, you just don't know. find a certified financial planner professional who's thoroughly vetted at letsmakeaplan.org. cfp -- work with the highest standard. >>> welcome back. time to check in with the website and see what people are clicking on today, allen, because the markets weren't doing it for them. >> market was kind of boring but we had that obamacare bullet that zinged into the website. you broke it earlier. basically another delay, this time for small businesses. they got until 2016 instead of 2015. people are reading all about that one. now, we also have a feature from diana olick talking about the looming foreclosure problem. that's because congress failed to renew an exemption for when you get mortgage forgiveness. that's going to count as inco

a 10 k, 5 k and 1 k kids run. at the finish line. >> i was happy to get under the tent and out of the rain. >> it was pretty tough. the rain was coming down especially in the final stretch. i had my head down and running hard. pretty exciting for me. that was my first 5 k. >> well done. the idea behind the run is to offset all of that super bowl food while raising money. the nonprofit organization promotes the development and active use of the park. so that is very appropriate. we can see all of that rain. we are going to check in with meteorologist rob mayeda. >> that forecast from the east bay peninsula and south bay seeing showers outside. a little bit of clearing around oakland. you can see partly cloudy skies. 880 starting to dry out. we are still tracking a few more showers especially around fremont. 880 south of oakland we are seeing showers here along the coast. this is south of half moon bay. earlier we had a special marine warning twice today. dropping pretty big hail weakening across the coast. that moi

go to "k-p-i-x dot com."this morning -- n francisco cops accused of b "dirty" will be in court th morning. anne makovec is in the news with the evidence the feds e using against them. five of the officers are du court at 9:30 this morning. facing charges of conspiracd civil rights violations. the other was arraigned yesterd, and is out on bail. surveillance videos release the public defender three y ago... shows undercover cops allegedly barging into tenderloin hotel rooms witht a warrant.. in some cases . stealing computers , camera and money.. and then lying t it on police reports. in a separate indictment some of officers are accused of steg marijuana from evidence and making deals with informant sell it..and split the prof { sot.. chief} my officersw that i will not have dishont cops among us.. as they sul the ranks of the honest men women out there doing the j. { sot... jeff adachi/ sf puc defender} "my hope is thatu know, this sends a message and clear to everyone in law enforcement that this kind condu

>> we need pre-k for our kids in new york city.them to do well academically, we expect them to graduate, be able to be relevant in the modern economy. >> the governor agrees with you. >> i say we need a way to do it that's reliable and consistent. the only way to do it is to tax the wealthiest new yorkers, folks who make a half million or more have a five-year plan that would bring us more every year to bring pre-k to every child that qualifies in new york city. >> i can't let new york city represent this, i represent the entire state of new york, why don't you care about the kids in scenectity and syracuse and -- >> i do, i think we should get full day pre-k up and running in new york city and use it as a model for the rest of the state. we need to move forward and pay for it, a tax on the wealthy is a reliable way to do it, at this point it's the only plan that could be put on the table to achieve it. >> what are you going to do? you need the state to sign off? >> i believe the governor truly cares about this issue. i have a long

a computer is made up of many different parts and each part as a specific job the k public works u is the brains of the compute. it's where all the work is done. current computers have multiple coarse it means it has multiple k public works ushthss working together as one. it hold all the information in the ram or hard or hard drive. it's the short time working memory for the computer interest it stores information while the computer is on >> the k f u is banning information backyard between the ram and the faster your programs are going to be run. if the hard drive can be cared the long-term america and you, store documents and movies >> the internal hard drives allow you to expand the hard drives. once you get on line with your expenditure it rewards or requires wifi and it allows you to connect without wiser the internet you have to have wiersz. the touch pad is how you send messages to the computer. the part of the computer is the o s is the operating systems. there are multiple operating systems available bus the most importantly is making astonish and windows. the major dividend

charles: philip k. dick.ng messages so you walk down the street and stores literally target you. message is based on your particular profile. there have been studies, you are liberal and certain music. charles: conservatives -- i no conservatives to listen to dms. this thing is going to -- is ridiculous. charles: some conservatives listen. stuart: you may have seen him out of the corner of your eye on the set. bill harris is the former ceo and co-founder of paypal land into it. he is now the ceo of personnl capital. a few stories we want to take you through. the comcast time warner cable deal. that is not going down well with consumers. these cable guys think they're dinosaurs. >> thinking about the deal would self. i bet the deal does not go through. >> i have been in five contested by the doj acquisitions. i am batting three for five which is pretty good. they use what is called a her until index which is a measure of concentration in an industry. is the sum of a square of the market share. there is a huge

start offering pre-k to more kids, black, white, hispanics, america will be a better play. >> that's what de blasio wants to put forward in new york. found a point of agreement. dana, a good idea? have people tried to do it before? what are your thoughts? >> sure, there's beens like thi but i think this one is different because he's the first black president and people have been asking when, mr. president, are you going to be able to try to help us to help them? a president can be a very good convenor of things, so if you think of president george h.w. bush thousand points of lights, that's still going. still going. freedom corps is something george w. bush put together and the faith-based initiative which actually has not really been sustained under the obama administration. a key to a program like this, maintaining support in the american public's mind is the measurable results that you can see over a long term. this will get a lot of attention today and then, you know, four days from now nobody will talk about this again, so it's up to the white house to continue to make the case

targeting employees' 401(k)s.een listening to other ceos over the past few years, his reasoning should sound familiar. >> obamacare is going to add $40,000 to $45,000 more in costs to the average restaurant. >> obamacare is going to kill off the small businesses. >> we no longer have free enterprise capitalism in health care. >> now tim armstrong is saying aol's employee benefits need to be cut because of obamacare. >> obamacare is an additional $7.1 million expense for us as a company, so we have to decide whether or not to pass that expense to employees or whether to cut other benefits. >> the "l.a. times" reports health insurance experts aren't sure where armstrong is getting that $7.1 million figure. experts we spoke to were equally baffled. but in armstrong's defense, he didn't just blame obamacare for the changes. on a companywide call, he also blamed the parents of two sick infants. "we had two aolers that had distressed babies that were born that we paid $1 million each to make sure those babies were okay

and so we put forth house universal 461, the pre-k education act. universal pre-k. can we afford it? of course we can, when you consider the benefit to this nation. when you consider the benefit to that venl child. you would say, of course we can afford it. nd, alternatively, we cannot a in order -- afford not to do it. we cannot allow a large percentage of our children to not succeed in school, to not be able to keep up, to go into a classroom, ill-prepared whether it's kindergarten, first grade, to begin behind on the first day of school. it's not uncommon. the percentage is probably somewhere sless than 25% of the children in america are able to get pre-k education. but i'll tell you who is able to get it. those families that have the upper income. those family whors not worried about the gender pay gap. those families who are not worried about the minimum wage. they are able to send their children to early childhood education courses of all kinds so when those children enter kindergarten, when those children begin the first grade, they're the ones that are ahead

ann makovec of our san francisco station k-pix has more on that. >> in california, the snow and rain has finally bringing much needed moisture to the state. residents there have been experiencing the worst drought on record. and this is the biggest storm california has seen in more than a year, bringing with it the threat of avalanches, flooding and rock slides. a mudslide washed out part of this road in sonoma county. >> right now we're standing by until the county comes back with some barricades to close off the roadway. and at that point the county will have to develop a plan. >> reporter: the combination of wind and rainfall there has been so severe falling trees snapped power lines. and residents in san rafael rushed in with sandbags to protect their homes. others are taking the much needed rainfall in stride. >> too much, too fast. but we still love the rain. we need the rain. so i'm all for it. >> reporter: the weather service says the rainfall in california is helping but, jeff, it would take four to five more storms of this size to get water levels back to where they should

while riding on bart w. >> people have had had the most stills. >> and should not k k get a did shotd you see plans to announce it. it and for student it is who highway having within exposed. >> is a 15-year-old ice skater has made it t ability had one of the big qwest competitions of her life. >> it is the highlight of the big show as hundreds of thoughs of people celebrate the year of the horse. >> we will look out. >> this is traffic and it looks green out there. >> and clear roads as you head to and from the and that is in the 11. >> -- this is "mornings on 2". ale announcer ] pillsbury grands biscuits. delicious, but say i press a few out flat, add some beef, sloppy joe sauce and cheese, fold it all up and boom! delicious unsloppy joes perfect for a school night. pillsbury grands biscuits. make dinner pop. so i should probably get the last roll... yeah but i practiced my bassoon. [ mom ] and i listened. [ brother ] i can do this. [ imitates robot ] everyone deserves ooey, gooey, pillsbury cinnamon rolls. make the weekend pop. everyone deserves ooey, gooey, pillsbury cinnamon rol

allocate $1,468,550 in prop k funds, with conditions, and $392,450 in prop aa funds, with conditions, for four requests, subject to the attached fiscal year cash flow distribution schedules and amend the prop aa strategic plan and relevant prop k 5-year prioritization program. >> great, commissioner mar? >> thank you, chair avalos and i want to thank the staff for these prop k items and i am pleased that the projects are moving for ward, with all of the challenges that they brought up regarding pedestrian safety and safety on our streets, it is really imperative that these projects move quickly and i want to install the traffic lights like the one at sunset and yorba before people are hurt or killed and not after and we have to identify, and design and fund and deliver the projects faster, and many of our residents in our communities are insisting and demanding that, two of the projects or a number of them are in the heart of the richmond district are on the edges like on masonic avenue but the stop lights at geary and 22nd avenue and 26th avenue are near schools, senior centers and c

and for the last project dwp requests prop k for the reconstruction of 9988 at 15 intersections please refer to page 69 for the locations of the intersections and dwp expects the construction to be completed that he 2016 if you have any questions, i'll be happy to answer them and dwp. thank you. i did want to comment to say those projects are important given the urgency and supervisor yee districts where the little girl was killed on pulp and ellis where the project eddy is. i think it's urgent we move quickly so there's no further tragedies. and the identification and design and delivering of the project i'm hoping can move fast to get the quickest streets improved. in my district the traffic lights an gary and 22 understanding and 26 avenue are critical around schools. for years folks have asked asked for the improvements and i'm how have near the st. mary's church and others areas thank you, ms. kim i strongly support this item. any other comments supervisor campos >> thank you very much mr. chairman and the presentation. on the curb ramps. i know that work is happening citywide do

the overhead system will be 25 k va c. that project to the polls and wires and the traction power that will deliver electricity to the infrastructure. so you know this provides a top level schedule of where we're at. i think we're at a pretty existing junction in this project. over the course of the last 8 months or so we've gathered together we've been out on the street procuring owners and representatives to really with technical expertise we'll have contractors in place for the owner reps starting in march my april of this year and we're also bringing on a project director in april who has experience delivering electrification projects. we're really excited about having this particular position filed and in the hopes of making our 2019 deadline. your board took the action to answer some analysis to take the recommendation of staff to pursue a design including but not limited to build this is the first time caltrain will deliver a project but that's the methodology that will gusts the best probability of delivering on th

go to "k-p-i-x dot com." california lawmakers have approved a 687- million dolr drought relief bill. it pasd yesterday with only three dissenting votes... and it w goes to the governor. the plan is designed to help farmers who aren't getting y state or federal water allotments this summer. san francisco's police chief says his department has been shaken... with six officers under indictment. kpix 5's a yee has the surveillance vio that's coming back to haunt the department. the visual proof: surveillae videos released by the publ defender three years ago... undercover cops allegedly barging into tenderloin hot rooms without a warrant.. in some cases ... stealing the other was arraigned yesterday, and is out on ba. a stretch of interstate 580n castro valley is open for ts morning's commute... after a shooting forced it to shut yesterday afternoon. the shooting left this vehie with at least three bullet holes. the c-h-p says someon a silver ford focus pulled and started firing... on westbound 580, around four o

s are soaring too. >> las year, one year ago, the average01(k) balance was $10 $100 7,000, right now when you start talking about bashing wall street, you have to think of main street, and retirement plans, you want these companies to thrive on wall street, that is going to help main street ameri retire soon. neil: derricc? >> i think he makes a great points. people are realizing big and bigger 401(k) balances but it presents its own set of problem, for many, 401(k) is their ggest retirement asset, if they don't know how to manage it, they coold lose it all, go into retire. needing government assistance. key, as part of a financial plan know how the money is invested and w much risko take and when to te it off the table for your specific situation, justtbecause you may see the market red-hot, does not mean it is red-hot for our situation, know your personalconomy. >> neil, nobody got rich of the asset allocation, you should concentraten the big -- s&p 500 companies, you will be fine. neil: thank you, two different views on this, many of you are asking this. >> what is this deal neil