Author: elderlawofmi

Elder Law of Michigan, FYI, Money and Finances, Retirement, seniors, Social Security

Social Security Announces 1.6 Percent Benefit Increase for 2020

By Vonda Vantil, Social Security Public Affairs Specialist Social Security and Supplemental Security Income (SSI) benefits for nearly 69 million Americans will increase 1.6 percent in 2020, the Social Security Administration announced today. The 1.6 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 63 million Social Security beneficiaries in January 2020. Increased payments to more than 8 million SSI beneficiaries will … Continue reading Social Security Announces 1.6 Percent Benefit Increase for 2020

elderlawofmi
Elder Law of Michigan, FYI, Medicare/Medicaid, MiCAFE, Money and Finances, Nutrition, Planning for the Future, Senior hunger, seniors

New: Whitmer, DHHS announce plan to ease access to public assistance

Via Michigan Advance By Allison Donahue Gov. Gretchen Whitmer and Michigan Department of Health and Human Services (DHHS) Director Robert Gordon on Thursday morning announced policy changes aimed at making access to food assistance and other public benefits easier for families. “These asset test policy changes are important because right now too many Michigan families are struggling to get ahead,” said Whitmer in a press … Continue reading New: Whitmer, DHHS announce plan to ease access to public assistance

elderlawofmi
Elder Law of Michigan, Mid-America Pension Rights Project, Money and Finances, Pension

(Mid-America Pension Rights Project): 3 Common 401(k) Mistakes That Could Cost You Thousands

Via The Motley Fool By Katie Brockman The 401(k) is one of the most powerful retirement tools out there, so if you’re lucky enough to have access to one, take advantage of it. As of 2019, you can contribute up to $19,000 per year to your 401(k), which is more than three times the annual amount you can save in a traditional or Roth IRA. … Continue reading (Mid-America Pension Rights Project): 3 Common 401(k) Mistakes That Could Cost You Thousands

elderlawofmi
Elder Law of Michigan, FYI, Legislation, seniors, Technology, Tips

Voting: Absentee and Accessibility

By Nicholas Goodman, MiCAFE Network Specialist at Elder Law of Michigan Are you one of 7,503,397 registered voters in Michigan? If you want to verify your voter registration status, go to the Michigan Voter Information Center. There you will find two options to search: by Driver’s License number or your name (and additional details). ­You can then view important information such as the date and type of … Continue reading Voting: Absentee and Accessibility

elderlawofmi
Elder Law of Michigan, Mid-America Pension Rights Project, Money and Finances, Pension, Planning for the Future, Retirement, seniors

(Mid-America Pension Rights Project): GE’s pension freeze puts a spotlight on America’s retirement planning problem

Via Yahoo News By Ethan Wolff-Mann The news that General Electric (GE) was freezing its pension for 20,000 workers this week and offering buyouts to 100,000 former employees sent the company’s beleaguered stock up slightly, but dealt the two fierce blows to two great American institutions. The first: GE itself. An American staple and iconic industrial company that has employed hundreds of thousands — if not millions … Continue reading (Mid-America Pension Rights Project): GE’s pension freeze puts a spotlight on America’s retirement planning problem

elderlawofmi
Elder Law of Michigan, FYI, Money and Finances, Planning for the Future, Retirement, seniors, Social Security

Our Lifetime Commitment to You and Yours

By Vonda Vantil, Social Security Public Affairs Specialist Social Security is here with information, tools, and benefits to help you secure today and tomorrow. Our journey together begins when you’re born and get your Social Security card. It continues when you get your first job and follows you through your entire career, marriage, and retirement. Our commitment is to be with you throughout life’s journey. … Continue reading Our Lifetime Commitment to You and Yours

elderlawofmi
Elder Law of Michigan, Mid-America Pension Rights Project, Money and Finances, Pension

(Mid-America Pension Rights Project): GE freezes pension benefits to reduce deficit

Via Pensions&Investments By James Comtois General Electric Co. said Monday it plans to freeze its U.S. pension plan for about 20,000 salaried employees and its U.S. supplementary pension plan for some 700 employees. Employees affected by the freeze will move into the firm’s 401(k) plan effective Jan. 1, 2021. GE’s pension plan has been closed to new entrants since Jan. 1, 2012. In addition, GE … Continue reading (Mid-America Pension Rights Project): GE freezes pension benefits to reduce deficit

elderlawofmi
Disability, Elder Law of Michigan, Social Security

Certain disability payments and workers’ compensation may affect Social Security benefits

By Vonda Vantil, Social Security Public Affairs Specialist Many people working nowadays have more than one job. This means they have several sources of income. It’s important to keep in mind that having multiple sources of income can sometimes affect your Social Security benefits; but, it depends on the source. Disability payments from private sources, such as private pensions or insurance benefits, don’t affect your … Continue reading Certain disability payments and workers’ compensation may affect Social Security benefits

elderlawofmi
Elder Abuse, Elder Law of Michigan, Money and Finances, Safety, senior independence, seniors

Protecting seniors from financial exploitation

Via The Sault News By Scott Brand Addressing what some call “The Crime of the 21st Century” Dr. Peter Lichtenberg of Wayne State University delivered an eye-opening presentation on the prevalence of financial exploitation in older adults. And the statistics reveal that it is growing at a rapid rate. In 2013, there were on average 1,300 suspicious activity reports a month, a figure that jumped … Continue reading Protecting seniors from financial exploitation

elderlawofmi
Disability, Elder Law of Michigan, Social Security

Social Security Reinstates Reconsideration Appeal Level of Disability Process in Michigan

By Vonda VanTil, Social Security Public Affairs Specialist The Social Security Administration announced the reinstatement of the reconsideration, the first step in the disability appeal process, in Michigan beginning on October 1.  This year, seven additional states–Alabama, California, Colorado, Louisiana, New Hampshire, New York, and Pennsylvania–reinstated the reconsideration. A level of Social Security’s national disability appeals process since 1959, the reconsideration step was eliminated in … Continue reading Social Security Reinstates Reconsideration Appeal Level of Disability Process in Michigan

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