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$1.16 Million for Continuations of Pension Information and Counseling Program
WASHINGTON, DC- The U.S. Administration on Aging (AoA) announced today the continuations of grants totaling approximately $1.16 million for pension information and counseling projects.
"We are proud that our pension counseling projects are continuing to find ways to help older individuals become better educated about their pension rights and remain independent in their own homes and communities. Since the beginning of this program, over 30,000 people have been served by the projects in one way or another, resulting in an estimated total of $60 million recovered for individual claimants,” says the Assistant Secretary for Aging Josefina Carbonell.
The funding is for continuing projects that assist older Americans in accessing information about their retirement benefits and negotiating with former employers for due compensation, where appropriate. The AoA pension information and counseling projects are designed to reach out, educate, and promote pension awareness and protection among older adults.
“In addition to financial sums received, a greater number of individuals have become better educated about pension rights, documentation needed to establish claims, the legal loopholes created by divorce and widowhood, the advantages and disadvantages of lump sump payments vs. annuities, and other issues important to the retirement security of older Americans," says Carbonell.
Below is a listing of the six regional pension counseling and information projects and the National Pension Assistance Resource Center, each of which has received continuation funding:
- Elder Law of Michigan, Inc. Lansing, MI $150,000
- Minnesota Senior Federation St. Paul, MN $150,000
- Texas Legal Services Center, Inc. Austin, TX $ 65,000
- University of Massachusetts-Boston Boston, MA $150,000
- Legal Services for the Elderly New York, NY $149,974