Category: Retirement Matters

By Joanne Bump Silver Tsunami — There is a slow-moving crisis, called the silver tsunami, that is paralyzing states, counties, cities, and towns across the U.S., leaving governments unable to provide the most basic services due to public worker shortages. Services like trash pickup and school bus rides are not getting done. The situation is worse… Read more

By Joanne Bump Hearing Loss — An estimated 40 million Americans aged 50 and over have hearing loss and cope with the heavy social, emotional, and health issues that result. For example, hearing impairment can reduce your quality of life by making you feel a sense of insecurity, lead to social isolation, and puts you at… Read more

By Joanne Bump Lower Drug Prices — The Inflation Reduction Act (IRA), just enacted last month, is a historic legislative victory for seniors. Its importance is substantial and can’t be over stated. It finally provides Medicare with the authority to negotiate prescription drug prices which will have unprecedented impact on heading off the insolvency projected for… Read more

By Joanne Bump Lower Drug Prices — The Inflation Reduction Act (IRA), just enacted last month, is a historic legislative victory for seniors. Its importance is substantial and can’t be over stated. It finally provides Medicare with the authority to negotiate prescription drug prices which will have unprecedented impact on heading off the insolvency projected for… Read more

By Joanne Bump Lower Drug Prices, a Historic Victory for Seniors The Inflation Reduction Act (HR 5376) — This bill has faced a tough challenge in the U.S. Senate as Republicans unanimously oppose the legislation even though the bill is popular with American voters. That means all 50 of the Senate Democrats are needed to pass… Read more

By Joanne Bump Read about new developments to address the Medicare deficit and lower prescription drug prices, and the market environment impacting global investments. Medicare’s Deficit — Medicare is expected to run out of funds to pay full benefits by 2028. About 47 million retired workers receive Medicare to pay for higher priced medical expenses. The… Read more

By Joanne Bump Count your blessings, including the improved pre-funding trends for pensions and health benefits; the solvency of Social Security and Medicare; and a lower Medicare Premium. Retirement Board Meets — The State of Michigan Retirement Board (SMRB) provides oversight of the State Employees’ Retirement System (SERS) defined benefit plan. The board met on May… Read more

By Joanne Bump Hold on to your pocket book as challenges are coming your way. Read: key plans to sunset Social Security and Medicare, Medicare Advantage benefit denials, and rising cost. Sunset Benefits — U.S. Senator Scott (R-FL) is calling for all federal legislation to end in five years if Congress does not reauthorize them. This… Read more

By Joanne Bump Key developments on divesting Michigan investments in Russia, the invasion’s impact on inflation, and Social Security proposals boosting benefits. Inflation Update — Before the Russian invasion of Ukraine, the forecast of the national economy was looking up. For example, hiring sped up as employers added 678,000 jobs in February amid declines in COVID… Read more

By Joanne Bump Key developments on inflation, cost-efficient pensions, and seniors’ contribution to economic growth. 2021 Inflation — Are you concerned about how inflation has impacted your buying power? Nationwide, much of the rise in inflation in 2021 has been due to price increases for shelter and used cars and trucks, according to the Bureau of… Read more