According to a recent Prudential study, women are less confident about their retirement finances than their male counterparts. The study also highlighted the difference in level of confidence between women younger than 35 and those of the baby-boomer generation. It is believed that this confidence gap may reflect a gap of knowledge and experience.
An article from CBS Money Watch details the following tips women can take to boost their confidence about being prepared for the future.
1. Go for retirement benefits
2. Contribute to spousal IRA
3. Inventory your retirement benefits
4. Monitor and manage investments
Read the full article on CBSNews.com.
As seniors near retirement, many are choosing the increasingly popular living arrangement of home sharing to meet a variety of needs that come with old age.
What is home sharing? Home sharing is when a homeowner offers living accommodations to a home sharer in exchange for rent and/or household assistance.
Why are so many choosing home sharing? The homeowner gets money to help pay for rent, utilities, or other expenses while the home sharer is provided with affordable housing. Other benefits to home sharing for both parties include companionship, a sense of security, and mutual support.
There are many regional agencies that can help match homeowners with home sharers based on location, physical needs, and similar interests.
You can find more information about home sharing at:http://nationalsharedhousing.org/
PBGC protects pensions. We also want to protect you!
Scams are at an all-time high during these tough economic times, and retirees are among scammers' favorite targets.
We have just learned that an individual attempted to obtain a 25% "finder's fee" for helping a retired United Airlines flight attendant get her PBGC pension benefit. He, as well as others, may be doing this with other UAL flight attendants.
Let's be clear: You do not need anyone's assistance to obtain your benefit from PBGC. People or firms who offer to help you for a finder's fee are not associated with PBGC. If you have questions, contact us by email or call our Customer Contact Center at 1-800-400-7242.
Read the full fraud alert from the Inspector General.
PBGC Director Josh Gotbaum penned a letter to the editor of the Washington Examiner where he addressed retirement security and the desire of many Americans to keep both their jobs and their pensions.
Read the full letter to the editor.
PBGC has stepped in to protect the retirements of health-care workers at Lower Bucks Hospital in southeastern Pennsylvania and North Adams Regional Hospital in Massachusetts
For more than 50 years, the not-for-profit Lower Bucks Hospital, has maintained its healing mission, serving a population of more than 300,000 people. Although Lower Bucks Hospital will continue to operate, its roughly 1,600 caregivers and other staff will now receive their pension benefits from PBGC.
Fortunately, North Adams Regional Hospital also will continue its century-long tradition as a full-service community hospital for the Northern Berkshires. Because the hospital could not afford to keep its pension plan, PBGC will pay benefits to its 700 workers and retirees.
For more information, see the Lower Bucks Hospital plan page or the North Adams Regional Hospital plan page.
PBGC Director Josh Gotbaum recently returned from the 3rd Annual U.S. Investment Management Awards where he was honored by Institutional Investor magazine with its Outstanding Contribution Award. The magazine selected Gotbaum "for the important work he’s doing to protect the future of defined benefit plans and their beneficiaries."
In an article on the magazine’s website, writer Frances Denmark says Gotbaum has become "a national voice calling for new forms of defined benefit plans" and notes his forceful efforts to preserve pensions at American Airlines.
Read the full article on Institutional Investor website.