By Susan Elise Campbell

The Employee Assistance Program of Warren, Washington, and Saratoga Counties (Adirondack EAP) will turn the corner on 40 years with a new executive director at its helm.

Richard J. Demers is soon to retire as executive director after 36 years.

Over the decades Demers and his staff established Adirondack EAP as a valuable community resource providing free and confidential assessment, counseling, and referrals for employees of member organizations and their families, according to Tracey Riley, president of the board of directors and vice president of human resources at Finch Paper.

Adirondack EAP is a local, rather than a national EAP, with its  main office at 559 Glen St. and affiliated offices in Plattsburg, Saratoga Springs, Albany, Clifton Falls, and other locations.

Today there are 60 member companies and 25,000 employees and their families have been served, Riley said.

EAP counselors work in a consultative role with managers and supervisors of member companies, providing them mindfulness training or other assistance, such as helping with transitions if there has been a tragedy in the workplace, McManus said.

By Lisa Balschunat

Ninety staffers nationwide at Fingerpaint Marketing are getting help paying off their college student loans.

Edward Mitzen, founder of the Saratoga Springs-based company, saw an opportunity to assist employees in reducing or paying off their student loans. He gave each of them $30,000 for that purpose,  with no strings attached.

“We recruit the best and the brightest,” Mitzen said. “We always look for ways to do right by staff.  We cover 100 percent of their health care premiums. We offer paid sabbaticals … We had student loan program that paid out about $100 per month to a staffer. It was a nice program, but it wasn’t helping enough. It barely covered the interest on a monthly loan payment.”

Fingerpaint is a health and wellness marketing firm with a global team of more than 580 people. Known for its innovate and data-drive approach, the firm provides marketing solutions to healthcare clients specifically in the pharmaceutical, rare disease and gene therapy sectors.

“We conducted a staff survey about how much debt people were carrying due to college student loans,” he said.  “What we found was that some people’s monthly payments were bigger than a monthly mortgage payment. Someone with a $40,000 loan who is paying into it for five years will still owe $40,000 in five years due to the interest.”

State Comptroller Thomas P. DiNapoli has announced reductions in employer contribution rates to the New York state and Local Retirement System (NYSLRS) for both of its systems—the Employees’ Retirement System (ERS) and Police and Fire Retirement System (PFRS).

He said the adjusted rates will impact payments in the State Fiscal Year 2022-23.

In addition, DiNapoli lowered the long-term assumed rate of return on the Fund’s investments from 6.8 percent to 5.9 percent.

“The fund’s strength gives us the ability to weather volatile markets. Our prudent strategy for long-term, steady returns helps ensure our state’s pension fund will continue to be one of the nation’s strongest and best-funded,” DiNapoli said. “While the reduction in employer contribution rates is welcome news for taxpayers, our investment decisions are always made based on what is best for our 1.1 million working and retired members and their beneficiaries.”