Pamela Sams, a professional financial planner and volunteer with AARP Virginia, presented strategies for planning for retirement in a free online seminar.
Lawmakers passed legislation to create a state-facilitated program that will make saving for retirement easy for an estimated 800,000 workers. It is set to take effect by July 2023. Eligible workers at companies with 25 or more employees can opt to have money taken out of their paychecks and directly deposited into a retirement account.
When the Virginia General Assembly returns to work on Wednesday, AARP volunteers will ask lawmakers for legislation to help workers save for retirement, require prescription drug price transparency, and overhaul oversight of the state’s long-term care facilities.
Financial exploitation is the most common form of elder abuse in the U.S., and the average victim loses $120,000. We also know this crime is severely under-reported.