ShAARP Session: Observations from AARP

It's that time of year, folks. And believe it or not, there are many ways you can roast pumpkin seeds!

Martha Hamilton has a piece up at AARP Bulletin about the dilemma that millions of Social Security recipients are facing for 2010: not only will there be no Social Security cost-of-living adjustments, but a hike in Medicare premiums that will leave them in a serious financial bind. The good news is that Congress is taking action.

Tricia Neuman and Juliette Cubanski of the Kaiser Foundation also have a really useful brief on the issue, explaining the relationship between the Social Security COLA and the Medicare Part B premium, and what's at stake for those covered by both programs. Check that out for a good background on the issue, and Hamilton's piece on what is being proposed to help the situation, at least temporarily - the House just passed by a measure that would freeze Part B premiums for the coming year (and the Senate will likely to follow). But another problem is also weighing; others may see a reduction in their SS checks due to Part D premiums.

In short, there is much to be done to ensure Social Security recipients aren't left out in the cold. Let's just hope the work pays off.

Last week, we told you where AARP stands on the Social Security COLA issue - that is, encouraging leaders on the Hill to provide a $250 in emergency relief to the older Americans who are struggling in the economic climate. Yesterday, a story ran in U.S. News and World Report on the letter that CEO Barry Rand wrote to those leaders - check out the story here.

As AARP Director of Financial Security Cristina Martin Firvida says in the article, one thing is for sure - the sense of economic security has drastically changed for Americans who have suffered losses in the stock market and their 401(k)s since just last year.

In health care reform news in America - the Congressional Budget Office has issued the long-awaited report and have found that the Baucus bill would actually reduce the deficit over the next decade. It seems hard to fathom with a hefty price tag of $892 billion over the next ten years - but the reduced deficit would come thanks to trims in Medicare spending and new taxes. Read all about the report and the optimism that a bill will be passed here in the Wall Street Journal or here in the New York Times.

And on a lighter note, another reminder about this year's AARP Member Event - Vegas@50+! It's quickly approaching...only two weeks away! Read anther preview of the event here and find out everything you need to know from AARP's website.

As a really cool way to promote green living, AARP has created a new contest that allows folks to not only offer new ideas to be environmentally friendly, but also win stuff for doing it! The Live Green Everyday Sweepstakes urges people to give their tips on how to be green, and gives back green prizes in return.

And that will be every day for the next 6 weeks! Amazon gift codes will be given out to folks each day, and bigger prizes will be given out each week during the sweepstakes - like bicycles, green washing machines and dishwashers, even macbooks and television sets!

Looks like you can't lose with this kind of game. Enter the contest today.

It looks like some of the fear and skepticism are starting to fade as older Americans learn more about the benefits of health care reform. You've read it here before: reform can mean lower drug prices, better coverage and the end of discrimination by health insurance companies. Now a new Associated Press-GfK poll shows that the opposition stirred up by the scare tactics of August is subsiding, dropping 16 points in September.

Check it out for yourself here.

Yesterday, AARP Executive Vice President Nancy LeaMond made AARP's stance on age discrimination known: AARP fully and "vigorously" - according to the New York Times - backs the proposed legislation Protecting Older Workers Against Discrimination Act.

The legislation would overturn a four-month-old Supreme Court ruling that makes it difficult for workers to win age discrimination cases. In the case, Gross v. F.B.L. Financial Services, the court established a different burden of proof for age discrimination than that of discrimination based on race or gender. For age discrimination, the burden of proving that age was the deciding factor in a demotion or layoff now fell upon the employee instead of the employer.

And, with the growing unemployment rate of Americans over 50 that we've discussed, the decision came at the most inopportune time for those seniors trying to find work.

LeaMond said, "Unless Congress passes this bill, too many older workers who have been victims of arbitrary age discrimination will be denied their day in court."

Read AARP's press release on its endorsement of the bill.

Other big news of the day includes discussions of another stimulus (but don't call it a "stimulus"!) - and the unemployment rate is the big issue here too. With unemployment nearing double digits, Roll Call reports that House Democrats are trying to find a balance between a "bailout-weary public" and the "ranks of the jobless." Read more commentary from the Washington Post here.

AARP's Spanish language radio show premiered on Sunday, October 4th! The show is an extension of AARP's bi-monthly bilingual magazine Segunda Juventud and hosted by the magazine's editor, Gabriela Zabalúa-Goddard. Both the magazine and radio show target the senior Hispanic population. The 30-minute show will focus on health, finance, and lifestyle topics, featuring tips and advice from experts in various fields.

Check out the radio show (and a ton of other relevant news and information) on Segunda Juventud's site: http://www.aarpsegundajuventud.org/spanish/index.html.

In other big news today, the H1N1 vaccine is now available to some...Yesterday, medical workers in Indiana and Tennessee were among the first to receive the vaccine in what the Washington Post calls "the most ambitious inoculation campaign in U.S. history." Have questions about the vaccine? Check out this Q&A on the Washington Post's web site for answers to common concerns.

Looking for tips on job interviewing? Take some time to look at this informative article from US News and World Report that gives advice on job seeking after 50. The reporter spoke to hiring managers at organizations on AARP's list of best employers for workers over 50 and compiled a list of tips.

Have a great day!

Happy Monday!

Yesterday, The New York Times ran a story on the heated debate among AARP's generation gap, focusing on a dinner gathering of AARP members that took place in Wisconsin last week. That dinner was just one of 37 in Wisconsin alone over the past six weeks. AARP's intensive campaign to address the concerns of its older members has paid off, according to the article, with support for an overhaul growing as the campaign kicked into high gear over the past few months.

The article portrays the concerns of a wide range of AARP members, and also quotes David Certner, director of legislative policy for AARP and Nancy LeaMond, executive vice president of AARP.

In other news, an interesting story in the Chicago Tribune advises retirees to consider taxes when thinking of relocating in retirement. It's worth checking out. The author says, "No matter where you live, your federal taxes will be about the same. But you'd be amazed at how much your state and local tax burden may vary."

Finally, an AP story that got a lot of pickup over the weekend explained the waiver of the government required withdrawal from IRAs and employee-sponsored 401(k)s and profit sharing plans. The requirement is that once a person reaches 70 ½ years of age, they must withdraw money (called required minimum distributions) - but a law passed last year temporarily lifted that requirement to prevent retirees from having to withdraw from accounts that were hit hard by the stock market. It's temporary relief - but it's relief!