1501 S Capitol Way Rm 102
Olympia, WA 98501
Phone 360-754-0207
Fax 360-956-0362
info@waseniorlobby.org
www.waseniorlobby.org
Visit us on Facebook
Washington State Department of Retirement Systems (DRS) administers the retirement systems for the following members, to view click on DRS Members
For information on retirement and benefits, please click on DRS
The Social Security and Medicare Board of Trustees released a report last week showing that while Medicare and Social Security are financially strong today, there is more work to be done. The Medicare Part A Trust Fund will remain solvent for another 13 years—eight years more than expected thanks to the Affordable Care Act. The combined Social Security Trust Funds have resources to pay full benefits for the coming 25 years, the report states. Read more »
Not yet, according to a new report from the National Association of Area Agencies on Aging. Thanks to the recession, most communities have been able only to “hold the line”—maintaining policies, programs, and services already established. The survey captures encouraging steps forward in some areas and retrenchment in others. Read the report »
Goodbye, Golden Years
for more information, see Golden Years
What Makes a Great Older Volunteer Program?
Exceptional older adult volunteer programs are built on effectiveness, impact, sustainability, and replicability, according to findings from NCOA’s Multi-Generational and Civic Engagement Initiative. Tomorrow, six agencies that participated in the initiative will gather in Washington, DC, to discuss their effective models for utilizing the time and talents of older volunteers. See successful programs »
2011 Retirement Confidence at 20-Year Low
More than a quarter of U.S. workers said they are "not at all confident" about their ability to afford a comfortable retirement -- the highest percentage in decades, according to an annual survey conducted by the Employee Benefit Research Institute.
More than half of workers surveyed had less than $25,000 in savings and investments, excluding their primary residence and any defined benefit pension plan. Twenty-nine percent say they have less than $1,000 in savings.
Only 42 percent report they and/or their spouse have tried to calculate how much money they will need to have saved by the time they retire. Seventy-four percent report they plan to work in retirement, three times the percentage of retirees who say they actually worked for pay in retirement (23 percent).
Click here to view EBRI's Report.
Click here to view a Bloomberg article about the report.
This Pension Watch! email is from the Office of the State Actuary
In the current Retirement Outlook, Winter 2010, there is an article, What's the state of your pension plan? Information from the article, latest actuarial valuation report show that as of June 30, 2009, PERS 1 was funded at 70 percent and TRS 1 was funded at 75 percent. You can read more on the Washington State Department of Retirement Systems at www.drs.wa.gov or the Actuary's website at osa.leg.wa.gov
Governor Gregoire has proposed changes to public pensions as part of the 2011-2013 budget
State's cuts for retirees would hurt more later
To Save Big Money, Governor Promises to Put the Screws on Pensions
Gregoire want to cut some public pension benefits, double-dip loophole
Pensions: Two Washington State systems still in the red
Looking for the Next Crisis
Public Pension funds are massively short of money, see Public Pension Funds
The stock market and home prices are down, but don't feel that necessarily means you can't retire. You might just have to be creative, see Focus
State: High contributions needed to keep system solvent, policymakers told, see Pension Funds
To the long list of reasons American companies aren't hiring--business losses, tight credit, consumer retrenchment--add the fact that many of their older workers are unable, or afraid, to retire, see Reluctance to Retire
Americans have been losing their jobs in droves, yet one group has gained ground in employment during this recession: workers 55 and older, see Older Workers
Working until you drop is a lot better if you can find a job in retirement that brings meaning and happiness. See Seven Keys
see Pension Plans
see Pensionomics: Measuring the Economic Impact of State and Local Pension Plans
U.S. Reps. George Miller (D-CA) and Carolyn McCarthy (D-NY), the lead House authors of the Edward M. Kennedy Serve America Act, joined President Barack Obama as he signed the legislation into law. The Act grows the number of volunteers nationwide to 250,000, and will include expansion of services like AmeriCorps, as well as four new service corps focused on education, health care, energy and veterans. The act creates opportunities for citizens of all ages. For more information, please go to Landmark National Service Bill
see Special Section by clicking on Retirement
Social Security Benefits Not Expected to Rise in 2010 by Robert Pear,
The New York Times published May 2, 2009 see Social Security Benefits
Read the article, please click on Social Security
The American Association of Community Colleges Plus 50 Initiative is a three-year effort to identify a pilot group of two-year institutions that will create or expand campus programs to engage the 50+ population in learning; training/re-training programs; and/or volunteer, civic, service activities. For more information click on Plus 50 Ageless Learning
