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What Will President Biden Do to Social Security and Medicare?
Social Security s financial future is an urgent priority, but it ll still come after action on the economy and COVID, experts say.
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Jan 28, 2021
The Biden Administration says it plans to multi-task. But there’s at least one task outlined in its pre-election plan that it won’t get to anytime soon, according to several experts.
And that’s reforming Social Security.
To be sure, it’s an urgent and important matter. The trustees estimated in its most recent report that, if policymakers take no further action, Social Security’s combined Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) trust fund reserves will be depleted in 2035.
401(k) sponsors in the dark about cognitive decline
A Department of Labor advisory council compiled a wealth of testimony on the challenges that plan sponsors, advisers, record keepers and others face in identifying retirement savers’ cognitive decline and what options they have when they suspect it.
January 19, 2021 4 MINS
Retirement plan fiduciaries often have limited resources and little information when it comes to plan participants with dementia or other cognitive decline but that could change.
Last month, a Department of Labor advisory council compiled a wealth of testimony on the challenges that plan sponsors, advisers, record keepers and others face in identifying retirement savers’ cognitive decline and what options they have when they suspect it.