Pennsylvania should follow the lead of more than 40 states which have addressed pension funding problems by modifying defined benefit programs and not engaging in wholesale changes to retirement programs for state workers and teachers, according to a panel of state and national pension security advocates briefing lawmakers and reporters at the state capitol today.
In recognition of the national celebration of April as "Financial Literacy Month," the members of the Pennsylvania Banking and Securities Commission are urging Pennsylvania senior citizens to exercise caution and seek information and advice from trusted sources when approached with unfamiliar, complicated investment opportunities.
AARP Pennsylvania today applauded approval by a state House committee of legislation that ensures an estimated 50,000 older residents won’t lose prescription drug coverage by excluding Medicare Part B premiums and Social Security cost of living increases from PACE and PACENET income eligibility guidelines.
AARP Pennsylvania’s first Executive Council meeting of 2013 recently took place in Harrisburg, PA under the leadership of State President Jim Palmquist. The predominately volunteer council will work with the state office to guide strategic priorities and objectives consistent with AARP’s national strategic framework and within AARP’s policies set by the AARP National Board of Directors.
This week AARP Pennsylvania volunteers and staff are meeting with nine members of the state’s Congressional delegation in their district offices, urging them to oppose $5.84 billion in cuts to our state’s Social Security COLA and veterans’ benefits that would occur if a measure known as Chained CPI is adopted. The office visits by AARP Pennsylvania volunteers follow weeks of letters, advertisements, petitions, a new Chained CPI Calculator, e-mails and phone calls asking Congress not to cut Social Security benefits and to have a separate conversation about Social Security’s future.
For more than 50 years, AARP has been committed to protecting Social Security benefits for the millions of Americans who have paid into the program through a lifetime of hard work.