WEB SITE CLARIFIES FINANCIAL PLANNING DESIGNATIONS
Bryn Mawr, Pa. - A new Web site from The American College aims to clarify which advanced designations are the best fit for a financial planner's practice.
FinancialPlanningCertificationCenter.com allows planners and clients to compare the Chartered Financial Consultant and Certified Financial Planner designations. The American College is the owner of the ChFC program and the nation's largest provider of CFP education.
The site provides information about the requirements for each, and additional study options that are available to financial planners enrolled in these programs. Descriptions of the programs, courses and costs can be accessed, as well as a Frequently Asked Questions section and video presentations.
SOCIAL SECURITY: THE UN-COLA
Washington, D.C. - The trustees who oversee Social Security project that retirees will not receive cost-of-living adjustments for the next two years.
This would be the first time that the so-called COLAs have not been granted since 1975, when the automatic increases were first adopted, according to the Associated Press. This past year, retirees received a 5.8 percent increase.
The increases are pegged to inflation. However, the trustees project that inflation will be negative this year, in part because energy prices are down from last year.
However, advocates for the elderly point out that health care costs are still rising, and those make up a large share of the expenses faced by the elderly.
GENWORTH TO PROVIDE LTCI
Richmond, Va. - Genworth Financial Inc. has been selected by the Teacher Retirement System of Texas to provide long-term-care insurance to its membership. The 1.2 million-member TRS includes all public school systems in the state. Separately, the company unveiled My Future, My Plan, a suite of long-term-care insurance plans created exclusively for members of AARP, who can choose one of three pre-selected long-term-care insurance plans.
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