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How the House Health Bill Could Affect Granny
Tweet Share on Facebook September 15, 2009 Comment (1)A provision in the House's healthcare reform bill would add coverage of a voluntary consultation about end-of-life care to a Medicare recipient’s benefits once every five years. The clause would require Medicare to pay doctors for their time helping patients to make a living will or appointing a health proxy. End-of-life care consultations would also be covered by Medicare whenever a patient undergoes a qualifying event, such as the diagnosis of a life threatening or chronic illness, admission to a long‐term care or skilled nursing facility, or a hospice program.
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As Baby Boomers Spend Their Savings, Will the Stock Market Decline?
Tweet Share on Facebook September 14, 2009 Comment (5)Some economists say that when the baby boomers sell off their assets to pay for retirement, there could be a decline in demand for stocks. If all the members of this unusually large generation sold their stocks at the same time, the theory goes, the prices of those assets could fall. But a new Congressional Budget Office (CBO) analysis found that baby boomers will not sell their accumulated assets quickly after they retire. “An evaluation of the evidence, however, indicates that such a dramatic decline in asset demand and prices is unlikely,” says Douglas Elmendorf, director of the CBO in the report. Here’s why the CBO says baby boomers won’t deplete their nest eggs too fast and cause a stock market decline.
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Bill Proposes Tougher Penalties for Scamming Older Investors
Tweet Share on Facebook September 11, 2009 Comment (2)Legislation introduced in the House and Senate yesterday would enact harsher penalties against people who commit securities violations against senior citizens. Under the proposed Senior Investor Protections Enhancement Act, each infringement targeted toward an investor age 62 or older would carry an extra $50,000 civil fine in additional to the normal penalties. Violations could include selling products unsuitable for the older investor’s age, failing to disclose fees, charging large penalty fees, or giving the customer a different investment product than the one that was marketed.
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AARP Names 10 Best Employers for Workers Over Age 50
Tweet Share on Facebook September 10, 2009 Comment (6)Each year the AARP names the 50 best employers for workers over age 50. The list has particular relevance this year because more older Americans are working or seeking work than before the recession began.
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3 Ways Obama’s Saving Initiatives Will Affect Your Retirement
Tweet Share on Facebook September 5, 2009 Comment (16)President Obama announced several new federal initiatives to promote retirement savings today. “I’ve heard from so many who’ve had to put off retirement, or come out of retirement, to make ends meet,” Obama said during his weekly radio address today. “And having too little in savings not only leaves people financially ill-prepared for retirement, but also for whatever challenges life brings.” Obama cited the approximately $2 trillion in retirement savings Americans have lost over the past two years.
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The 10 Biggest Pension Failures
Tweet Share on Facebook September 4, 2009 Comment (14)Many traditional pension plans are currently underfunded. But no pension terminations in fiscal year 2008, which ended September 30, have made it into the ranks of the largest pension terminations since 1975, according to data released this week by the Pension Benefit Guaranty Corp. (PBGC), a government agency that insures private-sector pension plans and pays out benefits if the plan fails.
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Delayed Retirement May Mean Fewer Job Openings
Tweet Share on Facebook September 3, 2009 Comment (1)The recession appears to be having a different impact on young and older Americans—mainly keeping older adults in the workforce and younger ones out of it. Nearly four in 10 employed adults age 62 and older say the economy has forced them to delay their retirement plans, according to a Pew Research Center survey released today. Most adults between the ages of 50 and 61 are considering working during the traditional retirement years as well. At the same time, younger workers are struggling to find a place in the workforce. More than four in 10 nonworking people between the ages of 16 and 24 say they have tried without success to find a job, the Pew Research Center found. Many young people also say they plan to stay in school longer.
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Giving Up on Retirement in the Sun Belt
Tweet Share on Facebook September 2, 2009 Comment (1)It’s fun to dream about retiring in a location where you will never have to shovel snow or defrost your car ever again. But don’t donate your winter coat to charity just yet. Most retirees are never able to pick up and move to the sun belt. In fact, most retirees don’t move at all. And seniors who do relocate tend to stay close to home.
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Financial Security and Flexibility in a Retirement Plan?
Tweet Share on Facebook September 1, 2009 Comment (4)Most workers who save for retirement do so through their workplace retirement plan. Some 61 percent of employees view their company’s retirement program as the primary vehicle to save for retirement, and 29 percent of workers say they would not save for retirement without it, according to a Watson Wyatt survey of 2,232 full-time workers released today. These are the features employees say they want from their workplace retirement plan.
