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Why the retirement savings crisis is also a women’s crisis
Here is what we know: The retirement savings crisis is enormous. By some estimates, Americans are under-saved by up to $14 trillion. This number may in fact be understated, because it assumes Social Security and Medicare solvency – a big if.…
Social Security and Medicare Parity Act Reintroduced
Yesterday, Representative Mark Takano (D-CA) reintroduced the Social Security and Medicare Parity Act, which would require the Social Security Administration to treat all married same-sex couples fairly. After the landmark Supreme Court ruling in Windsor v. United States, most federal agencies…
HOW TO CUT FEDERAL SPENDING? LAWMAKERS SAY STOP PAYING DEAD PEOPLE
The Inspector General at the Office of Personnel Management discovered $601 million dollars that were paid to federal retirees in 2011, even though the retirees actually had died during one of the prior five years. “Every day, we have hard choices…
Why the silence about Medicare Part B premium increases under MACRA?
On April 16, 2015, President Obama signed into law the Medicare Access and CHIP Reauthorization Act of 2015 (“MACRA”). This new law raises Medicare premiums for higher-income retirees, who will be paying more for their Part B and Part D…
Congressional Brief: Social Security
Social Security is the cornerstone of retirement security in the United States today. A third of Americans depend on the program for almost all their retirement income; without it, onein-five would have no retirement income. But the program so many…
Rep. DeFazio Introduces Two Bills to Protect Social Security Trust Fund and Keep Program Solvent Through 2057
April 23, 2015. Rep. Peter DeFazio (D-OR) today introduced a pair of bills that would protect Social Security trust funds from being diverted to pay for other programs and preserve Social Security benefits for future generations. The first bill, HR 1984,…
Seniors with HIV face losing disability insurance
When Lewis Nightingale turned 65 in February, he not only reached what is considered retirement age but also hit the end of his long-term disability insurance coverage. Nightingale, who has been living with HIV since 1984, has relied on his long-term…
What Long Life Spans Mean for Your Money and Career
During the 20th century, life expectancy in the U.S. climbed by almost 50%. That has huge implications for our finances. If you had a daughter born in 2000, her life expectancy at birth was age 84, versus 58 for women born…
Commentary: Chris Christie dares discuss Social Security, Medicaid
If New Jersey Gov. Chris Christie has his way, the unfolding presidential campaign will focus on generational fairness. It will seek to curb spending on the elderly — mainly Social Security and Medicare — without putting the elderly at risk. This…
Senators fret about Social Security cuts to cover student loan debt
A pair of Democratic senators is demanding to know more about the growing number of seniors who are seeing their Social Security benefits slashed to cover student loan debt. Sens. Claire McCaskill (D-Mo.) and Elizabeth Warren (D-Mass.) sent a letter to…