401(k) plan asset allocation, account balances, and loan activity in 2009

CONSISTENT SAMPLE: Because 401(k) balances can fluctuate with market returns from year to year, meaningful analysis of 401(k) plans must examine how participants' accounts have performed over the long term. Looking at consistent participants in the EBRI/ICI 401(k) database over the six-year period from 2003 to 2009 (which included one of the worst bear markets for stocks since the Great Depression), the study found: After rising in 2003 and for the next four consecutive years, the average 401(k) retirement account fell 27.8 percent in 2008, before rising 31.9 percent in 2009. The average 401(k) account balance moved up and down with stock market performance, but over the entire six-year time period increased at an average annual growth rate of 10.5 percent, attaining $109,723 at year-end 2009. The median (or midpoint, half above and half below) 401(k) account balance increased at an average annual growth rate of 14.7 percent over the 2003-2009 period to $59,381 at year-end 2009. THE BULK OF 401(K) ASSETS CONTINUED TO BE INVESTED IN STOCKS: On average, at year-end 2009, 60 percent of 401(k) participants' assets were invested in equity securities through equity funds, the equity portion of balanced funds, and company stock. Thirty-six percent was in fixed-income securities such as stable-value investments and bond and money funds. MORE THAN THREE-QUARTERS OF 401(K) PLANS INCLUDED TARGET-DATE FUNDS IN THEIR INVESTMENT LINEUP AT YEAR-END 2009: At year-end 2009, nearly 10 percent of the assets in the EBRI/ICI 401(k) database was invested in target-date funds and 33 percent of 401(k) participants held target-date funds. Also known as lifecycle funds, they are designed to simplify investing and to automate account rebalancing. NEW EMPLOYEES CONTINUED TO USE BALANCED FUNDS, INCLUDING TARGET-DATE FUNDS: Across all but the oldest age group, more new or recent hires invested their 401(k) assets in balanced funds, including target-date funds. At year-end 2009, about 42 percent of the account balances of recently hired participants in their 20s were invested in balanced funds, compared with 36 percent in 2008, and about 7 percent in 1998. At year-end 2009, 31 percent of the account balances of recently hired participants in their 20s was invested in lifecycle funds, compared with almost 23 percent at year-end 2008. 401(K) PARTICIPANTS CONTINUED TO SEEK DIVERSIFICATION OF THEIR INVESTMENTS: The share of 401(k) accounts invested in company stock continued to shrink, falling by half of a percentage point (to 9.2 percent) in 2009. That continued a steady decline that started in 1999. Recently hired 401(k) participants contributed to this trend: They tended to be less likely to hold employer stock. PARTICIPANTS' 401(K) LOAN ACTIVITY ROSE IN 2009: In 2009, 21 percent of all 401(k) participants eligible for loans had a loan outstanding against their 401(k) account, compared with 18 percent at year-end 2008 and year-end 2007. Loans outstanding amounted to 15 percent of the remaining account balance, on average, at year-end 2009, compared with 16 percent at year-end 2008. Loan amounts remained in line with the past few years in terms of typical dollar amounts.     

Diagnosing and treating traumatic brain injury among veterans of the Afghanistan and Iraq wars: implications for social work

Traumatic brain injury (TBI) is a serious condition affecting many American veterans who have served in Operation Enduring Freedom (OEF) and Operation Iraqi Freedom (OIF). Using a biopsychosocial perspective, the authors delineate and discuss the challenges of diagnosing and treating this neurological disability among soldiers who have returned to the United States from combat theaters in the Middle East. They explain recent changes including the Veterans Affairs Polytrauma System of Care, as well as social work's role on the interdisciplinary team who promote rehabilitation and community reentry for OEF/OIF veterans with TBI.     

Infants’ Response to Pictures of Impossible Objects

Previous work has shown that 4‐month‐olds can discriminate between two‐dimensional (2D) depictions of structurally possible and impossible objects [S. M. Shuwairi (2009), Journal of Experimental Child Psychology, 104, 115; S. M. Shuwairi, M. K. Albert, & S. P. Johnson (2007), Psychological Science, 18, 303]. Here, we asked whether evidence of discrimination of possible and impossible pictures would also be revealed in infants’ patterns of reaching and manual exploration. Nine‐month‐old infants were presented with realistic photograph displays of structurally possible and impossible cubes along with a series of perceptual controls, and engaged in more frequent manual exploration of pictures of impossible objects. In addition, the impossible cube display elicited significantly more social referencing and vocalizations than the possible cube and perceptual control displays. The increased manual gestures associated with the incoherent figure suggest that perceptual and manual action mechanisms are interrelated in early development. The infant’s visual system extracts structural information contained in 2D images in analyzing the projected 3D configuration, and this information serves to control both the oculomotor and manual action systems.     

Human Rights and Gypsies and Travellers: An Exploration of the Application of a Human Rights Perspective to Social Work with a Minority Community in Britain

This paper explores the relationship between human rights socialwork and issues facing Gypsies and Travellers, and argues thatwork with these groups cannot be properly understood outsidea human rights framework. It outlines different generationsof rights, key current debates, and their significance for socialwork, building on other emancipatory frameworks for practiceincluding anti-oppressive practice, structural social work andcritical postmodernism. These perspectives find some expressionin social work ethical codes. For Gypsies and Travellers, humanrights violations occur in many socio-political contexts, causingcycles of exclusion and disadvantage. However, Gypsies and Travellersare increasingly mobilizing nationally and locally to promotetheir rights. The somewhat limited research on social work inthis area concurs in finding distance between the parties, lackof cultural understanding and engagement, and problematic practiceas well as some clear pointers for improvement. Policy developmentscontradictorily related to promoting rights and increasing disciplinarysurveillance are examined for their relevance to work with thisgroup. The paper explores the importance of an inclusive, participatoryand discursive approach to human rights practice, and examinesits significance for a paradigmatic shift linking social workwith the broader struggle for human rights of Gypsy Travellersand other groups.     

Young Children's Psychological Selves: Convergence with Maternal Reports of Child Personality

The present research examined five‐year‐old children's psychological self‐concepts. Non‐linear factor analysis was used to model the latent structure of the children's self‐view questionnaire (CSVQ; Eder, 1990 ), a measure of children's self‐concepts. The coherence and reliability of the emerging factor structure indicated that young children are capable of meaningfully reporting about their own emotions and personalities. Moreover, these self‐reports from five‐year‐olds converged with maternal perceptions of child personality. Results are discussed in terms of their implications for the study of emergent personality, continuity/discontinuity in personality assessment across the lifespan, and self‐concept formation in early childhood.     

Social motivation predicts gaze following between 6 and 14 months

Infants vary in their ability to follow others’ gazes, but it is unclear how these individual differences emerge. We tested whether social motivation levels in early infancy predict later gaze following skills. We longitudinally tracked infants’ (N = 82) gazes and pupil dilation while they observed videos of a woman looking into the camera simulating eye contact (i.e., mutual gaze) and then gazing toward one of two objects, at 2, 4, 6, 8, and 14 months of age. To improve measurement validity, we used confirmatory factor analysis to combine multiple observed measures to index the underlying constructs of social motivation and gaze following. Infants’ social motivation—indexed by their speed of social orienting, duration of mutual gaze, and degree of pupil dilation during mutual gaze—was developmentally stable and positively predicted the development of gaze following—indexed by their proportion of time looking to the target object, first object look difference scores, and first face-to-object saccade difference scores—from 6 to 14 months of age. These findings suggest that infants’ social motivation likely plays a role in the development of gaze following and highlight the use of a multi-measure approach to improve measurement sensitivity and validity in infancy research.     

Social Work in Rural New South Wales School Settings: Addressing Inequalities Beyond the School Gate

Children and young people in rural Australia experience disadvantage compared with metropolitan counterparts, with low educational attainment and disengagement from schooling being linked to poorer health outcomes. Schools are an existing contact point between individuals and health services. However, these health services are often overburdened and have limited scope to address broader social issues and teaching staff are focused on achieving curriculum outcomes. Embedding social workers within schools may provide an avenue for supporting students, yet social workers are rarely present in New South Wales public schools. This paper describes a study to determine teachers’ understanding of the socioeconomic issues faced by school students, and the role of the social work profession in addressing such issues as part of the early stages of establishing a Social Work in Schools (SWiS) project. Eighteen semistructured interviews were undertaken with teachers across four rural Australian schools. Participants identified their awareness of potential risk factors that could lead to educational disengagement, reflected on their own limitations in dealing with these broader health presentations given their teaching focus, and provided insights into their understanding of the potential role of social workers.     

Addressing Psychosocial Barriers to Hospital Discharge: A Social Work Led Model of Care

Australian hospitals regularly care for patients who cannot be discharged routinely due to complex psychosocial needs that manifest as barriers to discharge. These long-stay or “stranded” patients are at risk of detrimental health outcomes resulting from their extended stay while also potentially delaying admission for those who need acute care. This article discusses a new social work led model of care developed at an Australian metropolitan hospital that targets long-stay patients with psychosocial barriers to discharge. The model of care, overseen by a specialist social worker and assistant, demonstrates how the social work profession can take leadership within the psychosocial realm to improve both organisational and patient outcomes.     

Changing the narrative: the role of frontline worker attitudes and beliefs in shaping dementia-friendly services in England

Applying the main principles of the social model of disability as a guide, this article argues that the attitudes and beliefs of staff and volunteers employed in frontline service delivery can play an important role in the achievement of dementia-friendly communities, particularly through influencing the types of services offered. This position is supported by findings from an evaluation of an awareness-raising intervention run by Age UK, aimed at organisations which provide services for people living with dementia in England. The article contributes to an understanding of the cultural climate within frontline service delivery, which is often neglected in favour of discussions around meeting more immediate care and support needs. More specifically, the article reflects on whether there is a need for an additional conceptualisation within the discourse around dementia-friendly communities which ensures inclusion of the cultural environment.