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Dick Clark tribute planned for New Year’s Eve

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(CNN) - Preparations are underway for the famous New Year's Eve ball drop at New York's Times Square. Workers installed Waterford crystal triangles on the ceremonial ball at a media event today.

The ball, with its 288 crystal panels, will drop down a 141-foot-tall flagpole to usher in the new year. The crystal panels have doves chiseled into them for the theme "Let There Be Peace."

The widow of Dick Clark -- the longtime host for the New Year's Eve festivities -- helped install a panel with her late husband's name engraved on it in his memory.

More than a billion people across the world are expected to watch the ball drop on TV.