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Seniors and Adults with Special Needs Who Are Claimed as Dependents Will Not Get Coronavirus Relief Payment

Not everyone will get the relief payment the federal government is sending to help Americans through the economic hard times triggered by the coronavirus pandemic. Among those left out are seniors and adults with special needs who are claimed as dependents. The...

How the SECURE Act Has Changed Retirement Account Transfers and Special Needs Planning

Speaking at the 2020 ASNP Annual Meeting, ASNP member Melanie Marmion discussed how the SECURE Act’s new rules regarding retirement accounts are “a game changer” for special needs planning. In her presentation, “SECURE Act and Special Needs Planning: The Latest...

Pandemic Relief: Retirement Account Owners Do Not Have to Take Required Distributions in 2020

Retirement account owners, many of whose retirement balances have been pummeled by a stock market drop due to the coronavirus pandemic, do not have to take mandatory withdrawals this year. Federal law requires individuals who were age 70 1/2 before the end of 2019 to...

Yes, You Can Receive Unemployment and Social Security at the Same Time

The COVID-19 pandemic has sent unemployment to its highest levels since the Great Depression, and older workers have been particularly hard hit, with one in five over age 55 now out of work, according to one estimate. Many people continue to work beyond retirement...

Seniors Affected by the Coronavirus Pandemic Have More Time to Apply for Medicare or Change Plans

The closure of Social Security offices has caused problems and worries for recently unemployed seniors who need to apply for Medicare after losing their employer coverage. In response, the federal government has announced that seniors affected by the crisis have...

Payday Loan Use Expected to Spike Among SSI Beneficiaries as Economic Downturn Continues

Written By: Andy Jones As the economic devastation from the coronavirus pandemic continues to mount, new research suggests that many Supplemental Security Income (SSI) recipients will turn to payday loans to meet basic living expenses, much to the distress of consumer...
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