Moving and Retirement

GAO* was asked to report on the financial security of older women. This report examines women retirees' perspectives on their financial security, and (2) what is known about the financial security of older women in retirement. Women also cited a range of experiences that hindered their retirement security, such as divorce or leaving the workforce before they planned to. Women in all 14 focus groups said their lack of personal finance education negatively affected their ability to plan for retirement. Many shared ideas about personal finance education including the view that it should be incorporated into school curriculum starting in kindergarten and continuing through college, and should be available through all phases of life. more »

Personal Income and Outlays: Current-dollar personal income increased $1.39 trillion in the second quarter, compared with an increase of $193.4 billion in the first quarter. The increase in personal income was more than accounted for by an increase in personal current transfer receipts (notably, government social benefits) that was partly offset by declines in compensation and proprietors' income (table 8). ... Disposable personal income increased $1.53 trillion, or 42.1 percent, in the second quarter, compared with an increase of $157.8 billion, or 3.9 percent, in the first quarter. Real disposable personal income increased 44.9 percent, compared with an increase of 2.6 percent. more »

Nearly all search and rescue missions in the United States are handled by volunteer teams, who mostly pay for their own equipment and work under a patchwork of guidelines and government oversight that can vary widely by state. The pandemic has led some older and higher-risk members to stay home, while others who have lost work or changed jobs no longer have the money or flexibility to deploy. “We've been very taxed,” Cashin said. “When COVID came out, I really thought our rescues were going to drop through the floor. But we're actually having a record year at this point, with a diminished capacity to respond. It was like the floodgates opened. It's been rescue after rescue after rescue, and it's not stopped.” In response, lawmakers in several states are considering proposals ranging from providing state funding for programs and workers’ compensation insurance for volunteers to charging people for their rescues. more »

Three leading precedents confirm what the statute’s plain terms suggest. In Phillips v. Martin Marietta Corp., 400 U. S. 542, a company was held to have violated Title VII by refusing to hire women with young children, despite the fact that the discrimination also depended on being a parent of young children and the fact that the company favored hiring women over men. In Los Angeles Dept. of Water and Power v. Manhart, 435 U. S. 702, an employer’s policy of requiring women to make larger pension fund contributions than men because women tend to live longer was held to violate Title VII, notwithstanding the policy’s evenhandedness between men and women as groups. more »