Category: Money and Finances

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, 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
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
Elder Law of Michigan, FYI, Money and Finances, Safety, senior independence, seniors, Trainings and Events

Protecting Finances in your Golden Years

Via Cheboygan Daily Tribune By Scott Brand With swindlers, con artists and unscrupulous family members stealing billions of dollars annually from older Americans, Empowerment Specialist Stephanie Woods of Elder Law of Michigan has partnered with local agencies to help protect senior in the Eastern Upper Peninsula. “He’s a national expert in financial capacity assessment and financial exploitation of older adults,” said Woods in introducing Dr. … Continue reading Protecting Finances in your Golden Years

elderlawofmi
Disability, Elder Law of Michigan, Money and Finances, Planning for the Future, senior independence, Social Security, Tips

Social Security Can Help You Get Back to Work

By Vonda VanTil, Social Security Public Affairs Specialist Having a job means different things to different people, but it can give you a sense of self, a community to rely on, and much-needed structure. Some people define themselves through their work. Others may enjoy the social aspect of their jobs. If you rely on Supplemental Security Income (SSI) payments or Social Security Disability (SSDI) benefits … Continue reading Social Security Can Help You Get Back to Work

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

(Mid-America Pension Rights Project): ERISA at 45: Where do we go from here?

Via BenefitsPro By Alan Vorchheimer September 2019 marks the 45th anniversary of President Gerald Ford signing the Employee Retirement Income Security Act, commonly called ERISA. Of course, the issue of retirement income security is as relevant as ever, particularly given questions about the long-term sustainability of current Social Security benefit levels. We can use this occasion to review the issues that the legislation was intended to address, … Continue reading (Mid-America Pension Rights Project): ERISA at 45: Where do we go from here?

elderlawofmi
Celebratory Month, FYI, Money and Finances, Social Security

Social Security Celebrates Hispanic Heritage Month

By Vonda Vantil, Social Security Public Affairs Specialist Social Security touches the lives of nearly every American. Hispanics make up our nation’s largest ethnic minority group with a population of 58.9 million, representing 18.1 percent of the nation’s total population. We work hard to deliver great customer service and easy-to-access information about our important programs and the benefits we provide to millions of Americans. If … Continue reading Social Security Celebrates Hispanic Heritage Month

elderlawofmi