Next Avenue – Actuarial News

Link: https://www.forbes.com/sites/nextavenue/2021/07/09/the-time-has-come-to-talk-about-senior-poverty-in-america/

Excerpt:

If 40 million Americans were suffering from the same severe problem, you might think it would be the subject of considerable media attention, a host of government programs, infusions of business capital and a hot topic of national conversation.
That is certainly what I thought several years ago when I began researching the reality that nearly half of all people of over 55 — one in seven Americans — had no money saved and risked heading into poverty or certainly into dire conditions that would make their lives desperate for decades to come.
…..
The average Social Security check is a meager $1,543 a month and about 40% of older Americans rely entirely on Social Security for their income.

Author(s): Joe Seldner, Next Avenue

Publication Date: 9 July 2021

Publication Site: Forbes

Link: https://www.forbes.com/sites/nextavenue/2021/03/12/how-the-american-rescue-plan-act-will-help-more-than-a-million-retirees-and-workers/

Excerpt:

Good news on the retirement-income front. Some 1.5 million workers and retirees faced the real risk that their pension incomes would be slashed over the next 20 years or significantly sooner. But the American Rescue Plan Act just signed by President Joe Biden will prevent that from happening.
That’s because the massive legislative package includes the Butch Lewis Emergency Pension Plan Relief Act of 2021. It restores to financial health more than 100 failing pension plans known as multiemployer plans (they covered more than one company’s employees) for union workers. Most notably, the Teamster’s storied Central States, Southeast & Southwest CSWC +0.3% pension, covering some 400,000 workers and their families.

Author(s): Next Avenue

Publication Date: 12 March 2021

Publication Site: Forbes

Tag: Next Avenue

How The American Rescue Plan Act Will Help More Than A Million Retirees And Workers