This November, Massachusetts voters will vote on two statewide ballot initiatives. WBUR and UMass Boston's McCormack Graduate School hosted a debate on the Radio Boston show on Question 1, whether the increasingly wireless information transferred between newer car models and dealerships should also be transferable to independent auto repair shops, and the privacy and safety concerns of doing so.
This November, Massachusetts voters will vote on two statewide ballot initiatives. WBUR and UMass Boston's McCormack Graduate School are hosting a debate today at 3 p.m. on the Radio Boston show on Question 2, which asks Massachusetts voters to fundamentally re-think how they cast their votes by implementing a ranked-choice voting system.
Anna-Marie Tabor, director of the Pension Action Center at the UMass Boston, explains that a former employer can turn over pension plan assets to an insurance company, which now has the obligation to pay out annuity benefits to eligible participants. “If your pension has been turned over to an insurance company, it’s very important to keep track of any letters or other information that you receive about the benefit, so that you can claim it when you are ready to retire,” Tabor said. “The benefit that you get from the insurance company should be essentially the same as what you would have received as a pension.”
The challenging goal of elder economic security – having enough income to live independently and afford a no-frills budget in later life -- is dramatically more difficult for older adults of color across America, new research from UMass Boston shows. Half of all older adults living alone and 23 percent of older couples are unable to achieve that goal and live with some degree of economic insecurity, according to the McCormack Graduate School’s Gerontology Institute.
McKnight's Long-Term Care News |
September 24, 2020
LeadingAge on Tuesday released findings from its new analysis that examined what would happen if direct care workers received a living wage. “All in all, pay would go up by $9.4 billion by 2022 in the industry,” Professor of Public Policy and Public Affairs Christian Weller said during a panel discussion on the findings. “That’s the starting point.”
Caregiving has stretched family finances. Medicaid is chronically underfunded. Private long-term care insurance products are too expensive for middle-income households. While all this was true before the pandemic, “what the pandemic has laid bare for everyone to see the consequences of a system dependent on these three pillars,” says Marc Cohen, co-director of the Leading Age LTSS Center at UMass Boston.
McCormack Graduate School Dean David Cash penned a column explaining that in the decades since the environmental movement was born, example after example, program after program, law after law have shown that protecting the environment can drive economic growth. "[Joe] Biden’s climate plan seizes these kinds of opportunities that marry economic growth with keeping our air and water clean and our climate stable, and it will do it with an eye toward helping the most vulnerable communities hit hardest by the current economic crisis," he writes.
Raising the pay of workers in residential care settings to the living wage in their respective states would lead to several economic benefits for workers, employers, and the economy overall, according to an analysis released Tuesday by the LeadingAge LTSS Center @UMass Boston. "Making Care Work Pay" used publicly available data and standard economic simulation techniques to examine the effects of providing direct care workers with at least a living wage. Researchers found that doing so would reduce staff shortages and turnover, improve productivity and quality of care, infuse billions of dollars into local economies, and give workers greater financial security and independence.
Marc Cohen, co-director of the LeadingAge LTSS Center @UMass Boston and a clinical professor of gerontology, and Jane Tavares, a LeadingAge research fellow, analyzed the financial status of Americans 60 and older before and after the Great Recession of 2008-09. Their findings paint a grim picture of what may come from the pandemic: a recession likely to have a far greater impact than the 2008-09 downturn, especially on minority older adults. "Our evidence indicates that stable sources of government income and benefits may keep minority seniors from financial collapse. Anything less than that, and the risks facing these most vulnerable Americans become catastrophic certainties," they write.
The Elder Index, a metric developed by the Gerontology Institute at UMass Boston's McCormack Graduate School, proposes the annual amount required to cover the basic necessities during retirement based on where you live. In 2019, the index calculated that Massachusetts was the second most expensive state in which to retire.
McCormack Graduate School of Policy and Global Studies