Act Now
Protect federal and military retirees!
The hard-earned pensions of veterans and federal retirees are being targeted by unscrupulous companies. Sign the petition below to demand that Congress act now to stop this predatory practice.
In recent years, a number of companies have begun to market a deceptive financial product called a “pension advance” by preying on vulnerable federal and military retirees – often those with poor credit and in need of extra income. These companies are skirting state and federal laws by going after these hard-earned pensions.
The companies promise that pension advances offer “painless” borrowing, but they don’t disclose the hidden fees and high interest rates, which often range from 27 to 46 percent – high enough to plunge the retirees who take these loans even deeper into debt.
Fortunately, Rep. Matt Cartwright (D-PA) has introduced H.R. 3310, the Annuity Safety and Security Under Reasonable Enforcement Act (ASSURE Act), which would make unfair pension advances illegal.
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Looking for help with your retirement plan?
If you have a problem with your retirement plan, free help may be available from the U.S. Administration on Aging's network of Pension Counseling and Information Projects. Find help now.
PensionHelp America connects people who need help with their pension, 401(k), and other retirement plans with the pension counseling projects, legal services providers, and government agencies that can help answer their questions. Visit www.pensionhelp.org.
Retirement USA
Retirement USA is a national initiative that is working for a new retirement system that, along with Social Security, will provide universal, secure, and adequate income for future retirees. Visit the website.