Money

Boston, MA—Only 9% of consumers believe they are very knowledgeable about how Social Security benefits are determined and just 1% of Certified Financial Planner™ (CFP ®) professionals say their clients are very knowledgeable about Social Security claiming, according to results of a new joint survey released today by the Financial Planning Association ® (FPA ®) and AARP.

AARP Foundation is looking to build its team of tax-loving volunteers in Michigan. About 275 volunteers are needed at most Tax-Aide sites from Metro Detroit to the Upper Peninsula.

From MIRS Residential customers would pay more and industrial customers would pay less, under a new rate structure for Consumers Energy electricity customers approved by the Michigan Public Service Commission (MPSC) Tuesday.

AARP volunteer activist Annie Mae Holt of Detroit authored the following opinion piece on raising standards for financial advisers to retirees:

About 50 older adults interested in starting their own business attended an Encore Entrepreneur Workshop in Lansing on April 29.

From Michigan Public Service Commission

AARP and the U.S. Small Business Administration will join forces to improve the chances for success of “encore entrepreneurs” – people 50 and older who are starting a business – at free workshops in Metro Detroit, Grand Rapids and Lansing during April.

WASHINGTON, DC – Today President Barack Obama joined AARP CEO Jo Ann Jenkins, and members of the Save Our Retirement coalition to announce that a major step has been taken on a proposed rule by the U.S. Department of Labor (DOL) that would update requirements for those who give financial advice to individual retirement plan savers. Americans saving for retirement currently lose an estimated 6 to 17 billion dollars per year due to bad investment advice. The rule to protect individuals from conflicted retirement advice is being submitted by the DOL to the Office of Management and Budget (OMB) for review.

There were a host of state income tax changes for Michigan seniors that started in 2012, including new taxes on retirement benefits.

LANSING, MI – Responding to the growing number of older Michiganders seeking to start their own businesses, AARP Michigan, teaming up with the U.S. Small Business Administration (SBA), will host “encore entrepreneur” events in four cities during April.