Asian American Pacific Islander Heritage Month: Achieving Financial Resilience

Asian American Pacific Islander (AAPI) Heritage Month each May is a time to celebrate, reflect on and pay homage to the many generations of Asian Americans and Pacific Islanders who contributed their talents to America’s history. They came here with hopes of getting a slice of the American pie, such as starting a business or securing a good job, and having the financial resources to raise a family and enjoy a comfortable retirement. For some older members of the AAPI …

Trends Favor Hiring Older Workers

Workers 50 and older face a hurdle that younger peers don’t: how to overcome negative stereotypes that paint them as much more expensive, out of touch with technology and less productive. An AARP report released Monday dispels these myths. The report, “A Business Case for Workers Age 50+: A Look at the Value of Experience 2015,” was conducted by Aon Hewitt and based primarily on data from large employers. A similar report, which confirmed the value of older employees, was done …

How Is Your State Treating Its Firefighters, Nurses and Teachers?

My pop, a city bus driver, taught me to work hard and also have fun doing it. For more than 25 years, he announced each stop on his route as if he was leading a tour, not driving a Buffalo city bus. Pop retired at the mandatory age of 70. Mom and Pop lived on their Social Security, and Pop’s modest pension income was almost entirely dedicated to pay their health insurance premium. They enjoyed their retirement years, but I …

Across the States: Fighting for You in 2015

This month, state legislatures throughout the nation are convening to mark the inauguration of new governors, state legislators and other state leaders. We will then begin to hear State of the State messages from governors that detail the challenges, opportunities and priorities they have defined for the year ahead. At AARP, we’ve also set our priorities for 2015 with a state advocacy agenda that highlights how we will continue to fight for you in every state, the District of Columbia, Puerto …

The $64,000 Question: Where Did My Retirement Savings Go?

Investment advice should be free of conflicts of interest The way Americans save for retirement has changed drastically over the past few decades. Thirty years ago, the typical worker had a pension through his or her job. Today, if workers have a retirement plan at all, it is likely a 401(k) or IRA. Why does this matter? Because now more than ever, individuals must make the complicated decisions about financial security in retirement: what to invest in, how much, how to …

What Happens to Your Pension When the Company Goes Bust?

Studebaker auto workers found out the hard way in 1963. When the Studebaker Corp. shut down its plant in South Bend, Ind., workers who had been promised pensions saw their hard-earned benefits vanish in an instant. Instead of receiving fixed payments throughout retirement, thousands of employees were forced to take one-time lump sums worth a fraction of what they’d earned. Thousands more received no benefits at all. The Studebaker Corp. had been promising pension benefits to its employees, but in …