By Alicia H. Munnell; MarketWatch ~ Aug 22, 2017

The bulk of the 2017 deficit was expected

The 2017 Trustees Report says that the Social Security program faces a deficit over the next 75 years equal to 2.83% of taxable payrolls.

That figure means that if payroll taxes were raised immediately by 2.83 percentage points — 1.42 percentage points each for the employee and the employer — the government would be able to pay the current package of benefits for everyone who reaches retirement age through 2091, with a one-year reserve at the end.

By Hazel Bradford; Pensions & Investments ~ Aug 21, 2017

As Washington policymakers turn their attention to tax reform, plan sponsors and retirement lobbyists are becoming increasingly concerned that the tax advantages of retirement savings are in real danger.

“My biggest concern is that they just reflexively look at the retirement system as a way to pay for it. Anybody who assumes they won’t ignores history and ignores practical reality,” said Lew Minsky, president and CEO of the Defined Contribution Institutional Investment Association, Washington.

By Mari Silbey; Light Reading ~ Aug 21, 2017

Early to the home security market among ISPs, AT&T may now be looking to exit the business. A report by Reuters states that AT&T is exploring a sale of its Digital Life division as part of an effort to reduce debt following the presumed closure of the telco’s $85 billion acquisition of Time Warner. Reuters posits that the business could sell for close to $1 billion.

From David Lazarus; Los Angeles Times ~ Aug 18, 2017

The inherent goodness of people was made clear this week when a pair of readers offered to pay for a 75-year-old Encino man’s prescription meds after the drug maker imposed a $1,100 deductible to be eligible for financial assistance.

From Brad Wiewel, NA; Forbes ~ Aug 16, 2017

If you are like most people, when you hear the words “estate planning,” you probably think of writing a will, to explain who will get what you own when you die. The problem is, a will has little or nothing to do with you.

From Mary R. Grealy; The Hill ~ Aug 16, 2017

In the 11-plus years since the Medicare Part D prescription drug benefit was implemented, at least two facts have remained inarguable.  One is that the program has worked extremely well in making medications affordable and accessible for millions of Medicare beneficiaries, and the other is that there was, is, and will continue to be a political push to make people believe Part D is somehow lacking because the federal government doesn’t have a sufficiently heavy hand in it.

From Danielle Howard; MarketWatch ~ Aug 15, 2017

Many people work hard to make sure there are ample assets to provide for the go-go, slow-go and no-go season of life. Have you ever considered how the mental capacity to manage those resources will change as you age?

By Brenton Smith, FedSmith – Aug 15, 2017

In July the Trustees of the Social Security Trust Funds issued their annual report, detailing the continued deterioration of the program’s finances. Despite a gloomy outlook, the media largely ignored the results.

The Social Security Administration summarized the report by saying, “By most measures, there is little change from the 2016 report in the outlook for the combined OASDI Trust Funds, with annual balances slightly better in the short term and slightly worse in the long term.”

From Max Richtman; The Hill ~ Aug 14, 2017

The good old days weren’t so good for seniors before Social Security was enacted 82 years ago today. Nearly half of all older Americans lived in poverty. Today, the figure is down to nine percent. Luckier seniors were supported by their families; the less fortunate literally went to the poor house.

By Amy Wallace; United Press International ~ Aug 14, 2017

Aug. 14 (UPI) — The Food and Drug Administration is warning consumers and healthcare providers not to use any liquid drug or dietary supplements due to potential contamination.

The drug and dietary supplement products are manufactured by PharmaTech LLC of Davie, Florida, and labeled by Rugby Laboratories, Major Pharmaceuticals and Leader Brands, which may be contaminated with the bacteria Burkholderia cepacia, or B. cepacia.