The Department of the Treasury and the Internal Revenue Service released new guidance that is “designed to expand the use of income annuities in 401(k) plans.”
Dec. 14--CARLSBAD -- It was 7:15 a.m. Friday when Pat Donavan was rousted from his warm house by a phone call.
The caller had some bad news for the Habitat for Humanity executive: Burglars had just struck at a Habitat home construction site on North 5th Street.
A locked trailer had been broken into, and expensive power tools were missing.
Donavan's first thoughts were unhappy ones.
"We're going to have to re-buy those tools, so it will mean using funds that should have gone into the house," he thought.
The tools were inside a trailer that was secured by a couple of heavy-duty combination locks. Now the locks had been cut free and tossed under the trailer.
The ramp was down on the back of the trailer, and big empty spaces appeared where the equipment had been.
It was the sight of the ramp that caught a neighbor's eye. She knew it should not be down unless workers were present, so she quickly telephoned Donavan.
He said he estimates the loss at around $2,000. The group has insurance, but the $1,000 deductible would have to come from construction funds.
Missing items include a table saw, at least two air compressors, and all the air guns and pneumatic hoses. All items are marked with the logo "HFHC."
Donavan said the group has a complete inventory list that will be checked to verify what's missing.
Police were called and took information about the theft, but no incident report was available Friday afternoon.
Meanwhile, Donavan and the rest of the Habitat program are hoping that the missing tools will show up, so that the half-finished house can get back on track toward becoming a home.
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