B2 THE OBSERVER & BAKER CITY HERALD • THURSDAY, NOVEMBER 10, 2022
Weston
Continued from B1
Retirement savings plan:
3% to 10% of salary
EBRI surveys have consis-
tently found that the benefit
employees value most after
health insurance is access to a
retirement plan, with all other
benefits coming in at “a distant
third,” Fronstin says.
People who have workplace
retirement plans such as 401(k)s
are far more likely to save for re-
tirement than those who don’t,
according to AARP. These plans
offer automatic paycheck de-
ductions, and many sign people
up automatically as well.
Most 401(k)s also come with
company matches — free money
that can help employees build
wealth faster. Among the most
common matches are 50% of
the first 6% of salary the worker
contributes, or a dollar-for-dol-
lar match of 3% to 6% of pay.
Employers can contribute
an even greater percentage
of pay to traditional pension
plans, which promise a speci-
fied monthly benefit amount
in retirement. That’s in contrast
to 401(k)s and other defined
contribution plans, where the
amounts you get in retirement
depend on how much is con-
tributed and how your invest-
ments perform.
Pensions are still common
among government agencies,
colleges and health care non-
profits, although only about
15% of private sector workers
have access to such plans, ac-
cording to the Bureau of Labor
Statistics.
$500 to $2,500 a year for the
coverage, according to San-
dra Sweeney, principal in
Mercer’s career practice. Life
insurance averages $100 to
$300 per employee, while dis-
ability insurance usually costs
$250 to $1,500.
Employers may offer access
to other coverage, such as ad-
ditional life insurance, long-
term care insurance or pet
insurance. Workers typically
pay the full cost but may ben-
efit from group rates for the
policies, Fronstin says.
Help with education costs
is increasingly popular, as
well. About half of employ-
ers offer tuition assistance,
according to the Society for
Human Resource Manage-
ment. And of the companies
surveyed by EBRI last year,
17% offered some kind of
student loan debt assistance
while another 31% planned
to do so.
Workers can also exclude
up to $5,250 of tuition as-
sistance from their incomes
on their tax returns, accord-
ing to the IRS. And through
2025, the limit includes stu-
dent loan repayment help, as
well.
Remember that your em-
ployer provides benefits to
attract, retain and reward
workers. If you’re not sure
what all your benefits are, or
what they’re worth, your hu-
man resources department
should be happy to fill you in,
says Fronstin.
“Ask your employer,” Fron-
stin says. “It’s not a secret.”
█
Everything else:
zero to thousands
Employers that provide
dental insurance usually pay
Liz Weston, Certified Financial
Planner, is a personal finance
columnist for NerdWallet. Questions
may be sent to her at 3940 Laurel
Canyon, No. 238, Studio City, CA
91604, or by using the “Contact” form
at asklizweston.com.
BUSINESS & AG LIFE
Who sold the winning ticket for $2 billion
Powerball jackpot in California? Joe did
sota Lottery acknowledged their sales
verification system caused the lengthy
delay.
The winning numbers drawn Tues-
day morning at the Florida Lottery
draw studio in Tallahassee were: white
balls 10, 33, 41, 47 and 56, and the red
Powerball was 10.
The jackpot ticket was sold at Joe’s
Service Center in Altadena, an unin-
corporated community in the foothills
northeast of Los Angeles. For selling
the winning ticket, business owner
Joe Chahayed will receive a maximum
Powerball bonus of $1 million.
“I’m very surprised. Very excited.
Very happy,” said Chahayed, who wore
a bright yellow California Lottery shirt
and cap.
Chahayed said he didn’t know who
won the giant prize but hopes it’s some-
one local.
“I wish I knew the person but most
people who buy tickets from me are
from the neighborhood. I hope one of
them will be the winner,” he said.
Chahayed said he would spend his $1
million on his five children and donate
some to the community.
Under California rules, the name of
the winner must be disclosed but no
other information, including the win-
ner’s address, has to be be made public.
Thomas Murrell said he had stopped
at Joe’s Tuesday morning with the in-
tention of buying gas and $200 worth
of Powerball tickets, in case no one had
won the giant jackpot.
“I know Joe. I’ve known him for
years and talk to him all the time,”
Murrell said. “Joe’s always been a lucky
guy. He’s a good guy. I’m not surprised
it happened here.”
The $2.04 billion jackpot was by
far the largest lottery prize ever won,
topping the previous record $1.586
billion prize won by three Powerball
ticketholders in 2016. Only four previ-
ous jackpots have topped $1 billion, but
none of those are close to the current
prize, which started at $20 million back
on Aug. 6 and has grown over three
winless months. No one has won the
jackpot since Aug. 3.
Dentistry
steady,” he said.
Continued from B1
A new home
The Barnums find living in Wallowa just
what they were hoping it would be. Living
just a block and a half away from the office
is quite convenient.
“One of the big differences between
working in the city and out here, down
there you’re just in the hustle and bustle
of the city, the rat race, and we wanted a
slower pace,” James said. “We wanted to
know who our neighbors are.”
Emilia agreed.
“We like taking the time to get to know
people,” she said. “That’s the beauty of a
small community, you get to know them
by name and run into them at the grocery
store and whatever.”
Also, they like being in a more friendly
community than the metro areas.
“I can hang a U.S. flag out the window
and not be a target,” James said. “You do
that in the city and you’re a target.”
BY STEFANIE DAZIO and
SCOTT McFETRIDGE
The Associated Press
LOS ANGELES — Someone who
bought a Powerball ticket in Southern
California has won a record $2.04 bil-
lion Powerball jackpot after more than
three months without anyone hitting
the top prize.
The winning numbers were selected
Tuesday, Nov. 8, nearly 10 hours after
the scheduled Nov. 7 drawing because
of problems processing sales data at
one of the game’s member lotteries.
Lottery officials acknowledged the un-
precedented delay for such a high-pro-
file drawing but said the game’s security
process took precedence.
“Protecting the integrity of the
draw is of utmost importance, and we
were able to do that during this his-
toric drawing with the cooperation of
all participating lotteries,” said Drew
Svitko, the chairman of the Powerball
Product Group and executive director
of the Pennsylvania Lottery.
On Tuesday afternoon, the Minne-
“Right now, people have to go to La
Grande or Walla Walla or Idaho, and we’re
going to start doing that in-house,” he said
of some of the dental services.
He said he has no dental hygienist —
“I’m it” — but that could change in the
future.
“We’ll grow as big as the community
wants us to grow, but we’ll do it slow and
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