Retirement homes no longer safe bet Nov 9, 2009
Even before Erickson's bankruptcy, the Senate's Special Committee on Aging had asked the Government Accountability Office to study whether CCRCs are adequately regulated. "In effect, seniors choosing CCRCs today could be exchanging their assets and income for nothing more than a promise," Chairman Herb Kohl, D-Wis. (Honolulu Advertiser)
Panel assesses risks of lifecycle mutual funds Oct 30, 2009
The Senate Special Committee on Aging, in a hearing on Wednesday, highlighted some of the risks and potential conflicts of interest in target-date mutual funds. 10. (San Francisco Chronicle)
Medicare reverses billing change on Genentech drug Oct 29, 2009
"I'm pleased that CMS heeded the concerns of the medical eye care community and the aging committee," said Kohl, who chairs the Special Committee on Aging. "Even seniors who have insurance often cannot afford the high co-payments associated with Lucentis.". (Atlanta Journal-Constitution -- Health)
A hard look at lifecycle funds Oct 29, 2009
The Senate Special Committee on Aging, in a hearing on Wednesday, highlighted some of the risks and potential conflicts of interest in target-date mutual funds ... Panel assesses risks of lifecycle mutual funds Articles The Senate Special Committee on Aging, in a hearing on Wednesday, highlighted some of the risks and potential conflicts of interest in target-date mutual funds. (San Francisco Chronicle -- Business)
Changes to 401(k) Savings Plan Won't Stem U.S. Retirement Gaps, GAO Says Oct 26, 2009
The report on 401(k) plans was requested by Senator , a Wisconsin Democrat, whos chairman of the Senate Special Committee on Aging. The GAO findings come as the plans are under increased scrutiny. (Bloomberg -- US)
Healthcare reform, Afghanistan to top Sunday shows Oct 25, 2009
Sunday, October 25, 2009. By Jordan Fabian - 10/24/09 10:34 AM ET. (TheHill.com)
Specter touts himself as consensus-builder Oct 25, 2009
Senate Democrats assigned him to spots among the more junior members of his committees: judiciary, veterans' affairs, environment and public works, appropriations and the special committee on aging. "I think the seniority is going to be revisited, I think fairly soon," Mr. Specter said, adding that he means before the 2010 elections. (Pittsburgh Post-Gazette, PA)
Clifford Hansen, 97, was governor of Wyoming Oct 22, 2009
In the Senate, Mr. Hansen served on the Veterans Affairs Committee, the Finance Committee, and the Special Committee on Aging. He backed reservoir projects in Wyoming, designating national recreation areas and wilderness areas, and placing a ceiling on federal expenditures. (Boston Globe)
Former Wyo. governor, US Sen. Clifford Hansen dies Oct 21, 2009
In the Senate, Hansen served on the Veterans Affairs Committee, the Finance Committee and the Special Committee on Aging. He backed reservoir projects in Wyoming, designating national recreation areas and wilderness areas in Wyoming, and placing a ceiling on federal expenditures. (Anchorage Daily News)
Medicare would shift patients off $50 drug to $2,000 Oct 14, 2009
who chairs the Senate Special Committee on Aging, contends the policy will force doctors to switch to Lucentis, which is formally approved for eye care. The payment change "will make reimbursements for Avastin even more difficult and less attractive to the many physicians and eye surgeons who wish to use it for their patients as a much more affordable treatment," Kohl wrote to Medicare officials in an Oct. 9 letter obtained Tuesday by the Associated Press. (San Francisco Chronicle -- Business)
Reverse mortgages may be next crisis Oct 7, 2009
Reverse mortgages can be appropriate for some seniors, yet transparency and consumer protections are needed, said Senator Herb Kohl, a Wisconsin Democrat, and chairman of the Senate Special Committee on Aging. Kohl and McCaskill released a government report in June that said some lenders falsely market reverse mortgages as lifetime income and sell mortgages coupled with other financial products, such as annuities, even though Congress banned so-called cross-selling in 2008. (Boston Globe)
Some seniors selling life insurance policies for cash Oct 1, 2009
Herb Kohl, chairman of the Senate Special Committee on Aging in a recent letter to the Securities and Exchange Commission. In the midst of a financial crisis blamed on a lack of oversight and regulation, federal lawmakers and securities regulators are concerned about the Wild West nature of the life settlement industry and the fact that there is no national sheriff watching out for individuals who sell and investors who buy. (Pittsburgh Post-Gazette, PA)
Bennet gets seat on Senate health, education committee Sep 30, 2009
Bennet remains a member of the Senate Committee on Agriculture, Nutrition and Forestry; the Senate Committee on Banking, Housing and Urban Affairs; and the Senate Special Committee on Aging. denvernews@bizjournals. (Denver Business Journal, CO)
Recession shines a light on the intricacies of target date funds Jul 26, 2009
The US Senate Special Committee on Aging held a hearing earlier this year in part to discuss target date funds within 401(k) plans. A committee investigation of funds designed for people planning to retire in 2010 found a broad variety of stock exposure - and losses - although the funds had the same target date. (Boston Globe)
Certified guardians protect elderly from abuse Jul 21, 2009
Given the significant underreporting, the U.S. Senate Special Committee on Aging recently estimated as many as 5 million older Americans may be victims of abuse, neglect and exploitation every year. As a result, a fledgling field of practice is evolving. (Daytona Beach News Journal -- Business)
Franken sworn in as Minnesota senator Jul 8, 2009
Franken, 58, who made no public comments at his swearing-in, will serve on the Senate Judiciary Committee, Senate Committee on Indian Affairs, the Special Committee on Aging, and the Health, Education, Labor and Pensions Committee, but he won't join the latter until the panel finishes its work on the health care bill. Posted. (USA Today -- News)
Regulators take a hard look at rules for target-date funds Jun 18, 2009
head of the Senate Special Committee on Aging, has led the charge for more regulation of target funds, arguing that inadequate oversight could jeopardize Americans' retirement security. Fund companies that offer target-date funds say they help investors avoid common mistakes, such as investing too conservatively when they're many years from retirement. (USA Today -- Money)
Creditors Use Loophole To Seize Benefits Jun 3, 2009
chairman of the Senate Special Committee on Aging, said this week. "We need our banking regulatory agencies to recognize this widespread problem and start enforcing the law," he said. (CBS News)
U.S. pension insurer may need tax aid May 25, 2009
If the PBGC s condition continues to deteriorate, the government could come under pressure to shore it up with taxpayer funds, the GAO said in testimony to the Senate s Special Committee on Aging. The Committee has grave concerns about the agency s viability, said Sen. (Columbus Telegram, NE)
Is There a Cure for Miami's Soaring Health-Care Costs? May 22, 2009
Florida Senator Mel Martinez, the ranking Republican on the Special Committee on Aging, has called hearings on the matter this month. Reports like the Milliman Index, however, point up the just as troubling relation between high health-care costs and low-wage demographics like Miami's. (Time.com)
Former head of pension agency takes the Fifth May 21, 2009
During his brief appearance before the Senate Special Committee on Aging, Millard said repeatedly: "I have been advised by my counsel that I should invoke my constitutional rights and decline to answer any and all questions from the committee on this matter.". After Millard was excused, the committee addressed the myriad other problems facing the Pension Benefit Guaranty Corp.. (Yahoo News -- Politics)
Congress eyes tough rules to oversee pensions May 21, 2009
seen here on Capitol Hill in March 2007, is chairing a hearing of the Senate Special Committee on Aging focused on the viability of Americans' pensions ... who is chairing a hearing Wednesday on the agency at the Senate Special Committee on Aging. (USA Today -- Money)
Former fedeeral pension chief declines to testify May 21, 2009
Senator Herb Kohl, Democrat of Wisconsin and chairman of the Senate Special Committee on Aging, told a packed hearing room that he has "grave concerns" about the viability of the pension agency, raising the prospect that it might have to be bailed out by taxpayers. The agency's acting director, Vincent Snowbarger, said there are enough assets in the insurance fund to pay current obligations, but he agreed that "over the long term, the deficit must be addressed.". (Boston Globe)
Former head of US pension agency stays mum May 21, 2009
Millard cited Fifth Amendment rights against self- incrimination three times today during a session of the Senate Special Committee on Aging. The pension agency reported a $US33. (Sydney Morning Herald -- Business)
Senator: More oversight needed at pension agency May 20, 2009
who is chairing a hearing Wednesday on the agency at the Senate Special Committee on Aging. "One in seven Americans count on the agency to pay out their pension in the event that their employer is unable to due to bankruptcy. As the auto industry teeters on the edge of insolvency, hundreds of thousands of workers' pensions could soon become the responsibility of the PBGC.". (Albany Times Union)
Pension Benefit Guaranty `s Deficit Triples in Six Months to $33.5 Billion May 20, 2009
About $11 billion is for completed and probable terminations of company plans and $7 billion is from an increase in interest rates that boosted liabilities, , the acting PBGC director, said in written testimony to be delivered today to the Senate Special Committee on Aging ... Millard was subpoenaed by the Senate Special Committee on Aging to answer questions related to a by the PBGC inspector general alleges that Millard had inappropriate communications with eight of 16 Wall Street firms... (Bloomberg)
Pension Scandal Is Failure to Fix What's Broken: Amity Shlaes May 19, 2009
Yet last week the Senates Special Committee on Aging was already scheduling a hearing for tomorrow to look into Millards actions. Not to be out-scooped by their Senate colleagues, the Woodwards and Bernsteins over at the House Committee on Education and Labor offered up something new within a day: a draft of the then-unpublished on their Web site under the following nonpartisan headline: House Labor Committee Opens Investigation into Alleged Improprieties by Bush Pension Agency Head. (Bloomberg -- Columnists)
Be careful when comparing target-date funds May 17, 2009
One reason for those varying returns: The stock components of the 2010 funds that Senator Herb Kohl's Senate Special Committee on Aging recently studied ranged from 8 to 68 percent. "I think it's been a very rude awakening," said John Coyne, president of Brinker Capital, a Berwyn, Pa. (Boston Globe)
Ex-pension chief violated rules, report says May 15, 2009
The Senate Special Committee on Aging, chaired by Senator Herbert Kohl of Wisconsin, announced yesterday that it has subpoenaed Millard to appear at a Wednesday hearing on whether the agency has enough money in its fund to back the nation's private pension plans. At the same time, the agency has decided to "slow down" the implementation of investments in private equity and real estate, according to the report. (Boston Globe)
The Secrets to Live a Successful Life May 13, 2009
Last Wednesday, Jim Frogue, project director for the the , testified before the U.S. Senate Special Committee on Aging on preventing. Jim revealed astonishing stories of fraud, including the state of New York paying 55 men maternity benefits over a two-year period. (Human Events Online)
Speculation focuses on Frankens potential Senate committee assignments9:58 am | (No comments posted.) May 12, 2009
Coleman had served on the Foreign Relations, Small Business, Agriculture, and Homeland Security committees and on the Special Committee on Aging. Open seats remained on the Health, Education, Labor, and Pensions Committee, the Special Committee on Aging, and the Committee on Indian Affairs. (Watertown Public Opinion, SD)
Dems screw newest member; Specter Will Be Junior on Committees... May 6, 2009
Under the modified organizing resolution, Specter will not keep his committee seniority on any of the five committees that he serves on and will be the junior Democrat on all but one the chamber s Special Committee on Aging. On that committee, he will be next to last in seniority. (The Drudge Report)
Colo. official in DC on life settlements Apr 30, 2009
"Although life settlements may serve a useful purpose by enhancing the value and liquidity of life insurance policies, they also pose significant risks to policyholders and to investors," Joseph, who also is president of the , said in remarks prepared to be delivered before the U.S. Senate Special Committee on Aging in Washington. He said "thousands of investors, many of them senior citizens, have been victimized through fraud and abuse" in the life-settlements market. (Denver Business Journal, CO)
Speculation continues on a Gingrich run Apr 15, 2009
FILE - In this Wednesday, May 14, 2008 file photo, former House Speaker Newt Gingrich testifies on Capitol Hill before the Senate Special Committee on Aging hearing on Alzheimer's disease. More than a decade after he stepped down as speaker of the House into what seemed like almost certain political oblivion, Newt Gingrich is back and seemingly more relevant than ever. (Atlanta Journal-Constitution)
Gingrich eyes possible White House run in 2012 Apr 15, 2009
FILE - In this Wednesday, May 14, 2008 file photo, former House Speaker Newt Gingrich testifies on Capitol Hill before the Senate Special Committee on Aging hearing on (Jose Luis Magana, File / AP). Gingrich eyes possible White House run in 2012. (Albany Times Union)
Workers steered to high-risk retirement investments Apr 5, 2009
The Senate Special Committee on Aging says that target date funds are expected to make up 20 percent of savings in 401(k) and related retirement plans by 2010 - up from just 3 percent in 2006. "I am very concerned that so many Americans are being moved into a financial product devoid of any regulation," the committee's chairman, Herbert Kohl, Democrat of Wisconsin, wrote recently to the Obama administration, requesting a review of the way workers are being put into target date funds under the... (Boston Globe)
Maria Shriver sounds Alzheimer's alert Mar 26, 2009
"We have to put Alzheimer's on the front burner, because if we don't, Alzheimer's will not only devour our memories, it will cripple our families, devastate our health-care system and decimate the legacy of our generation," Shriver told the Senate's Special Committee on Aging. Her words on her father's behalf earned her a standing ovation from the dozens of Alzheimer's advocates who packed the Senate hearing room. (AZCentral -- News)
Americans are TEA'd Mar 25, 2009
P.S. Today, I will testify in front of the Senate Special Committee on Aging. Alongside former Justice of the Supreme Court Sandra Day O Connor and former U.S. Senator Bob Kerrey, I will discuss the recommendations in the Alzheimer s Study Group s National Strategic Plan to overcome the mounting Alzheimer's crisis. (Human Events Online)
Older job-seekers face special hurdles Mar 9, 2009
chairman of the Senate Special Committee on Aging and an author of the bills. Declining home values. (San Francisco Chronicle)
Illness knocks older adults into bankruptcy Mar 2, 2009
As Joe Grace went through surgery on Wednesday, a parade of expert witnesses took the U.S. Senate Special Committee on Aging through a litany of the troubles facing older Americans. Households where a person between 55 and 64 lives have seen wealth fall by a median of nearly 40 percent since 2004. (News & Observer)
