Workers Say Employers Getting Stingy on Pay, Benefits

If the economy’s improving, why do workers say that their employers are getting stingier with pay or benefits, possibly compromising their financial security now and in retirement? In a survey of 5,070 U.S. workers, 76 percent said their company made one change or another in the last two years that weakened their retirement benefits, reduced pay raises, increased out-of-pocket health care costs or premiums, cut back on hours, laid off workers or involved a major restructuring. The survey, conducted by …

Risky 401(k) Investments: The Supreme Court Steps In

Do you know just how much you’re saving for your retirement? If so, you’re not alone. AARP studies show that most Americans 50 and older are thinking about and planning for their future financial security. So imagine, for a moment, that your company has a pretty generous 401(k) plan. That’s great, right? Well, in a case that the Supreme Court recently agreed to hear, the plaintiff employees say, “Not so much.” Here’s what happened to them. Fifth Third Bank, a …

Pensions Under Attack, AARP Fights Back

The financial security of many older Americans could be at risk under a proposed law that was the focus of a hearing this week on Capitol Hill. Under the proposed plan, millions of retirees could see cuts to the benefits they’ve earned through a lifetime of hard work. At issue is a proposal by multi-employer pension plans (plans in which many employers contribute to a common fund to cover their mobile workforce) devised to save the plans from insolvency.  That …

Older Adults Say Their Financial Situations Are Looking Up – But Barely

So do you want the good news first or the bad news? OK, the good news: We’re feeling better about our net worth and our finances in general. According to a new index that measures our perceptions of our financial security, most of us between the ages of 50 and 64 believe that our overall financial picture has improved in the last 12 months. Yes, we still have a long way to go, but let’s not ruin a feel-good (or …

Study: Grandparents Give ’til it Hurts

As a consultant and expert in aging and family issues with more than 30 years experience working with grandparents, I recently had the great pleasure of writing a report for the MetLife Mature Market Institute in conjunction with Generations United. The report, “Grandparents Investing in Grandchildren: The MetLife Study on How Grandparents Share Their Time, Values, and Money,” indicates that today’s grandparents continue to provide care for grandchildren, offer advice and moral support, and provide financial assistance – sometimes to …

How will boomers’ economic anxiety affect their vote?

It’s August. Your thermostat has likely cracked 100 degrees. But hopefully, you’re on vacation with your families or watching the Olympics (Go USA!!) in a cool place with a cold beverage in hand. And I bet that if you live in a battleground state, there’s something else you want a vacation from: the endless parade of political ads between now and November 6th. Most candidates seem too busy beating up one another to tell us where they really stand on …