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Pensions Under Attack, AARP Fights Back

Posted on 10/30/2013 by |AARP Blog Author | Comments

PoliticsThe 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 …

Social Security’s 78th Anniversary: Then and Now

Posted on 08/20/2013 by |AARP Blog Author | Comments

Public Policy InstituteTo help celebrate Social Security’s 78th anniversary, here is a comparison of how the country — and Social Security — have changed since 1940, when Ida May Fuller received Social Security’s first monthly benefit. Since 1940, the number of Americans age 65 and over has quadrupled, more than doubling as a percentage of the population. Sources: http://www.census.gov/prod/www/decennial.html and http://www.census.gov/population/age/data/2011.html   The number of individuals receiving a Social Security benefit, since benefit checks were first issued in 1940, has increased over …

A Look at Social Security’s History – Celebrating Social Security’s 78th Anniversary!

Posted on 08/20/2013 by |AARP Blog Author | Comments

Public Policy InstituteLast week marked the 78th anniversary of the passing of the Social Security Act. To commemorate, this blog post looks back to see how Social Security has changed over the years. Below, you will find a timeline highlighting famous firsts, important legislation and the growth of one of America’s most popular programs. 1935: On Aug. 14, the Social Security Act (H.R. 7260, Public Law No. 271, 74th Congress) became law with President Franklin D. Roosevelt’s signature at approximately 3:30 p.m. …

Saving for Retirement — What’s a Woman to Do?

Posted on 08/14/2013 by |Money and Work | Comments

Bulletin Today | WorkIf we women don’t boost our retirement savings now, we may not be able to meet our daily financial needs when we leave the workplace for good, a new report says. Not only do we contribute less than men to our 401(k) accounts — 6.9 percent of pay, on average, compared with 7.6 percent for men — but we’re also more likely to default on loans we’ve taken from these plans. Fully 71 percent of women who left their jobs …

Surprising Facts About a Survivor – Social Security

Posted on 08/14/2013 by |Washington Watch | Comments

Bulletin Today | PoliticsHappy 78th birthday, Social Security. Since FDR signed you into law on Aug. 14, 1935, you’ve survived wars, budget cuts and changing demographics. Today you may be older than most of your beneficiaries, but you’re still central to secure retirement. Related: How Has Social Security Changed Lives? In Millions of Ways Here are some surprising facts about the program: The number of people who received Social security benefits last year – 61.9 million – is nearly half of what the U.S. …

Retirement Analyses May Send Chills Down Your Back

Posted on 07/17/2013 by |Money and Work | Comments

Bulletin Today | Money & SavingsFor those of you who are about to retire, brace yourself.  New research suggests this just may be the worst time in a generation to exit the workforce. Why?  The Employee Benefit Research Institute blames a prolonged period of low-interest rates, plus declining returns on investments, which can be particularly problematic at the start of retirement. So acute is the problem that one in four boomers retiring today — folks who under normal circumstances would have adequate retirement income — now risk running …