NPR story on women in poverty.
The issue hit home for Payne, founding partner at Centurion Wealth Management in McLean, when her uncle died unexpectedly. Her aunt and uncle were sure they had done everything right. As it turned out, that wasn’t the case.
Congresswoman Nita M. Lowey (Westchester/Rockland), the Ranking Member on the House Appropriations Committee, today announced the introduction of the Social Security Caregiver Credit Act during an event at Meals on Wheels of Rockland in Nanuet, NY, alongside local caregivers, senior citizens, elected officials, and advocacy organization representatives. The proposal would provide a Social Security earnings credit to caregivers who have to leave the labor force or reduce their hours to care for a loved one.
Here is what we know: The retirement savings crisis is enormous. By some estimates, Americans are under-saved by up to $14 trillion. This number may in fact be understated, because it assumes Social Security and Medicare solvency – a big if.
Read Dr. Dodd's testimony to Senate Finance Committee
“I am fifty years old and the 27 years I have been working have been a combination of full-time and part-time employment, with several years of no employment so that I could stay home with my baby. I am back to work full-time now but want to know how all of this will affect my Social Security benefit when I am retired?”
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