2016 Social Security COLA? Don’t Bet on It

Nearly 60 million Social Security recipients will probably not get a cost-of-living increase next year, according to projections in the 2015 Social Security and Medicare trustees reports. This would be the third time Social Security beneficiaries have gone without a cost-of-living adjustment (COLA) since 1975, when automatic raises were put into place. The COLA this year was 1.7 percent, making the average monthly check for retired workers $1,334 as of May. Increases in benefits are tied to the third-quarter average …

Aging Conference: How Innovative Solutions Work for All Generations

From technological innovation to physical activity to universal design — what works to make life easier and healthier for one generation can work equally well for another, according to speakers at the White House Conference on Aging on July 13. The once-a-decade conference “opens the door to creating innovative solutions that make life better for all people as they age,” said AARP CEO Jo Ann Jenkins in her address to the attendees. In afternoon panel discussions, presenters emphasized that everyone …

New Regulations Would Require Modernizing Nursing Home Care

After nearly 30 years, the Obama administration wants to modernize the rules nursing homes must follow to qualify for Medicare and Medicaid payments. The hundreds of pages of proposed changes cover everything from meal times to use of antipsychotic drugs to staffing.  Some are required by the Affordable Care Act and other recent federal laws, as well as the president’s executive order directing agencies to simplify regulations and minimize the costs of compliance. “Today’s measures set high standards for quality …

2015 White House Conference on Aging: Lives With Independence, Dignity and Purpose

AARP is pleased to support the 2015 White House Conference on Aging (WHCoA) on July 13. Beginning with the first conference in 1961 and for each one since, AARP has offered strong support because the sessions not only shine a spotlight on issues related to aging in America but also lead to practical solutions that make life better for people as they age. Watch a live stream of the event here » The conferences have introduced innovative ideas such as …

CFPB: Reverse Mortgage Ads Can Confuse More Than Inform

Advertisements touting reverse mortgages often leave older consumers confused about the loan terms and unaware of the risks, according to a new report from the Consumer Financial Protection Bureau. “Perhaps most concerning of all, the ads left the consumers believing that if they purchase a reverse mortgage loan, they will be able to rest assured that they can live in their homes and enjoy financial security for the rest of their lives,” CFPB Director Richard Cordray said in a teleconference. …

Labor Department Proposes Rule to Save Retirees Billions

Financial advisers would have to adhere to more stringent standards when giving advice on 401(k) plans, IRAs and other retirement accounts under a rule proposed Tuesday by the U.S. Department of Labor. The proposed rule would protect people saving for retirement from being steered into accounts with high fees and commissions that benefit the adviser at the expense of the saver. It would force financial professionals to act in the best interest of their clients — a move that advocates say would …