Chris Adams was recently hired as a Systems Administrator in RMI’s IT Department. Chris has studied Information Systems and Marketing at the University of Utah and Utah Valley University. Previously, he was a gymnast for 8 years and was employed as a diver at the Mayan Restaurant in Salt Lake City. Chris grew up in Texas, spent some time in Canada and now resides in Utah. He and his wife have two children and foster three others. He loves most ethnic foods and loves to travel. His travels have taken him as far as Asia where he has climbed the Great Wall of China.

Kristen Corbett was recently hired in RMI’s Finance and Accounting Department. She is currently studying Marketing Management and Accounting at Salt Lake Community College. Prior to coming to RMI, she was doing Accounts Receivable for a local construction company. She also has a broad customer service background in retail environments. Kristen loves to be active, stay in shape, and enjoys being with her family and friends. She has a beautiful 12-month-old girl who is the highlight of her life.

Looking for a way to lower your tax burden in 2010? Read the article below written by Jere El-Bakri from RMI’s Investor Assistance Program, in regards to contributing to your company’s 401(k) Plan, to find out how you can potentially save on taxes.

When I was growing up there were only a few days of the year that really meant something special to me. Among those were my birthday, Christmas, the last day of school and the Super Bowl. Since then I have come to recognize that there are a few other important days like my anniversary, my family’s birthdays and, oh yeah, April 15th.

This year April 15th wasn’t as bad as it has been past years. This year, April 12th was bad (I finished my taxes early for once). I felt like singing the line from the movie Footloose, “where have all the deductions (good men) gone?”

It seems like there are a lot of deductions that you are entitled to only if you do this or if you do that, or if you earn that or less than that, etc. For example, I thought I was going to qualify for one of the housing tax credits because we had bought a house this past summer. OOPS! We needed to buy it after November. It’s like the spelling rule with “i” and “e”. You know, “i” before “e” except after “c” or when sounding like “a” as in neighbor and weigh, etc.

Thankfully, we still have good old qualified retirement plans, like 401(k)s. When you make a traditional contribution to your 401(k) plan, it comes right off the top of your income. In fact, it actually reduces the amount shown in box 1 on your W-2 form. A lower box 1 on your W-2 form could affect other tax items such as child tax credits, alternative minimum tax, etc.

When you make traditional (pre-tax) contributions to your 401(k) account, the money is taken out before you pay taxes. That means that if you choose to contribute $100 traditionally to your 401(k) plan, your take home check may only go down by $70 or $75.

Depending on your income, there may even be additional tax advantages to 401(k) contributions. If you fall into the category of “low-income savers”, you may be eligible for a tax credit of up to $1,000. You can go to the following link for details on “low-income savers”: http://www.research401k.com/401k-tax-credit.html. Remember that a tax credit is much better than a tax deduction. A tax credit reduces your taxes (or increases your return) dollar for dollar, while a tax deduction decreases your taxes at your personal marginal tax rate.

If a married couple earn a combined adjusted gross wage of $50,000, and contribute $2,000 to a 401k retirement plan (pre-tax contribution), then their net wage would be $50,000 - $2,000 = $48,000. Their tax credit would therefore be: 10% times $2000 = $200. Now let’s assume that their employer matched 25 cents on the dollar for up to 4% of their pay. That means that by contributing $2,000 to their 401(k) plan, they actually only had their take home pay go down by about $1,500. However, they also received a $200 tax credit at the end of the year and $500 in match. All told, it cost them about $1,300 to get $2,500 in their 401(k) account.

You may be wondering how much you are allowed to contribute to a 401(k) plan. For 2010 you can contribute $16,500. If you are over age 50, you can also make an additional “catch-up” contribution of $5,500 for a total of $22,000. Some plans limit your contribution to a certain percentage of your pay. While this is not very common any more, you should consult your plan administrator for details.

You may also have heard about Roth contributions. In contrast to Traditional (pre-tax) contributions, Roth contributions are after-tax. That means that you feel the full impact of the contribution today. In other words, if you contribute $100 to your Roth 401(k), your net take home will go down by the full $100. However, your Roth contributions will grow tax-free and qualified withdrawals come out tax-free at retirement. Low-income savers will get the same tax credits whether they make Roth or Traditional contributions. To view a short instructional video on Roth contributions visit http://united401k.acrobat.com/roth.

Remember that this is not meant to be tax advice and that I am not your tax or legal advisor. You should consult your tax or legal advisor to see how contributions to your 401(k) account could affect your personal situation.

In conclusion, while taxes are complicated and deductions seem to have become a thing of the past, 401(k) plans are still available. Traditional (pre-tax) contributions can reduce your taxable income now and offer long-term retirement security. For some, choosing Roth contributions may offer a better long-term alternative in exchange for a higher cost today. Either way, 401(k) plans offer a great way to save for retirement, with a little help from Uncle Sam.

As always, if you have any questions on this topic or other questions regarding general retirement savings, please feel free to contact me via e-mail or phone. I can be reached at 800-948-0330, jere@nationsfg.com, or 510 South 200 West Salt Lake City, UT 84101.

Securities and Advisory Services are offered through Nations Financial Group, Inc. (NFGI) member FINRA, SIPC. Jere El-Bakri is a Registered Representative of NFGI. Retirement Plan Consultants, Inc. is a separate entity and not affiliated with NFGI.

The material has been prepared or is distributed solely for information purposes and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. NFGI did not assist with the preparation of the content in this newsletter, and its accuracy and completeness are not guaranteed. The opinions expressed in this newsletter are those of the author(s) and are not necessarily those of NFGI. Any information provided is general in nature and is not tailored to your individual investment objectives or needs or relate to any specific investments. Any investment(s) or strategies discussed may not be suitable for all investors. Investors must make their own decisions based on their specific investment objectives and financial circumstances.

Although general information about the potential impact of taxes on various investment scenarios and/or estate planning may be provided, it should be made clear that NFGI and Retirement Plan Consultants, Inc. do not offer any legal or tax advice.

If an employee is injured, please complete an Employee Injury Report and submit it to RMI within twenty-four hours of the occurrence. Delays in reporting injuries can result in problems in filing a worker’s compensation claim, increased costs on the claim, and possible delays in recovery. Please always submit an Employee Injury Report even if the employee does not initially seek medical treatment: having a report on file is important if they need to seek treatment at a later time. Be sure to indicate if the employee has missed any time from work as a result of their injury.

You may download the form from our website and fax the completed Employee Injury Report to your HR Representative at your area RMI office.

Your car needs your help to get you to your destination safely. In addition to regular maintenance (oil changes, tire rotations, etc.) be sure to perform the following safety maintenance often:

• Clean and adjust your headlights. During car inspections, ask the technician to correct the aim of your headlights or take the vehicle to a dealer or other properly equipped repair shop at least once a year for a headlight checkup. Properly aligned headlights will help you see the road better, and will help other drivers avoid glare.
• Keep all glass/windows clear on the outside and the inside. Cleaning windows and the windshield at least once a month to remove haze can increase visibility.
• Have chips or cracks in the windshield repaired as soon as possible. A trained glass repair technician can often fill in a damaged area and prevent the crack or chip from growing and requiring a windshield replacement.
• Clean wiper blades with a paper towel dipped in windshield washer fluid. This removes grime and oxidized rubber from the edge of the blade and helps prevent streaking. If streaks persist, you need new blades.

For additional information on this, please contact your RMI HR representative.

Jobs that take employees outside definitely have their appeal, especially to the office-based cubicle crowd. But people whose line of work requires them to be outdoors in the hot summer months - from construction and agriculture workers to parks employees - face unique health hazards. The Occupational Safety and Health Administration (OSHA) offers the following tips on working outdoors in warm climates:

Clothing and Sunscreen. Employees who are working outside in the heat should wear light, loose-fitting clothing. To avoid harmful UV rays, stick to long pants (no shorts) and long-sleeved shirts, and apply plenty of sunscreen.

Breaks for Water and Shade. If you're working in the heat, your employer should provide you with plenty of water, and breaks to drink it. Drink small amounts frequently, rather than a lot of water all at once. If your work is particularly strenuous and takes place in direct sunlight, you should also be given regular work breaks in a "shade tent" or other rest area.

Heat Stroke and Heat Exhaustion: What to Watch Out for. The combination of high temperature, high humidity, and physical exertion that comes with some outdoor jobs raises the risk that workers will suffer heat stroke or heat exhaustion. Some warning signs are headaches, lightheadedness, confusion, irrational behavior, loss of consciousness, abnormally high body temperature and hot, dry skin.

Lyme Disease, Poison Ivy, and West Nile Virus. Working in the great outdoors, especially in the summer months, can mean exposure to some of Mother Nature's less pleasurable offerings, including ticks that can carry Lyme Disease and other bacteria; mosquitoes that can transmit West Nile Virus; and poisonous plants that can cause skin problems. Care must be taken in areas and conditions where these pests are present.

For more information about this topic you can go to http://osha.gov or contact your RMI Human Resources representative.