Tag Archives for Housing

Senate Aging Panel Highlights the Importance of Financial Literacy

Published in RINewsToday on May 18, 2026

Chairman Rick Scott (R-FL) and Ranking Member Kirsten Gillibrand (D-NY) of the U.S. Senate Special Committee on Aging held a hearing last month called “Empowering Seniors Through Financial Literacy: Tools to Protect Savings, Prevent Fraud, and Promote Independence.” The hearing, held during National Financial Literacy Month, focused on the need for financial education and income security for older Americans.

The April 15 hearing lasted just over an hour and focused on improving financial and retirement security for older Americans. During his opening remarks, Sen. Scott announced the release of a bipartisan 2026 Financial Literacy Booklet to help older Americans spot and avoid scams.

At SH-216, the Senate Aging Committee confirmed its continued work to protect older adults from financial exploitation and built on earlier efforts, such as the 2025 Fraud Report.

New Resource for a Secure Retirement

The new 39-page bipartisan booklet, Guarding Your Nest Egg: A Financial Resource for Older Adults, helps older Americans manage their finances, protect themselves from fraud and scams, and plan for a secure retirement.

As Sen. Scott noted: “For so many Americans, especially our seniors, it’s hard to find the information,” Sen. Scott said in his opening statement. “And when you do find it, it’s often incredibly complicated. As a country, we have done a poor job of ensuring people know their options and what route will work best for their needs.”

Sen. Scott says financial literacy is one of the most powerful and most underused tools to protect older Americans. “When they understand how their benefits work, they make better decisions,” he says.

“When they know how to read a financial statement and recognize bad actors, they’re harder to deceive. When they understand the difference between a legitimate investment and a pitch that’s too good to be true, they protect themselves. And when they know where to turn for trusted help, they realize they are not navigating this alone,” said the Florida Senator.

Finally, Sen. Scott added, “The best part is that this doesn’t require a new government program or more federal bureaucracy.” He stressed that the solution is not more federal spending, but “clear information, trusted messengers, and a commitment to getting that information into people’s hands.”

The Senate Aging Committee’s new booklet helps readers make smart retirement and financial decisions. It covers an array of topics, including Social Security, Medicare, housing, charitable giving, disaster preparedness, and even planning for unexpected events. Throughout its pages, practical advice is given to help older adults protect their savings and avoid fraud and scams.

Sen. Gillibrand, in her opening remarks, noted that over 11,000 Americans turn 65 every day. Longer lifespans mean more years in retirement, so careful retirement planning is needed, she says, stressing that aging populations put pressure on budgets and healthcare programs at all levels.

The New York Senator mentioned a recent statement by President Donald J. Trump, who suggested that Medicare and Medicaid should be managed by states rather than the federal government. She countered that comment, noting that since Medicare and Medicaid were enacted in 1965, older Americans have come to rely on these federal programs and expect them to be in place when needed.

Sen. Gillibrand pointed out that the Centers for Disease Control and Prevention data show about 44% of adults over 65 have a disability. Many people don’t see themselves in these statistics, and some find it difficult to plan to take care of a child or adult with special needs. Even when people set financial goals and save, unexpected events can still occur, she says.

Expert Witnesses disclose Insights on Financial Literacy

The Senate Aging Panel brought four expert witnesses from the Financial Industry Regulatory Authority (FINRA), the American Bankers Association Foundation, AARP, and the financial planning community to testify at the hearing. These witnesses stressed the value of financial literacy and highlighted the growing complexity of fraud schemes. They also called for a coordinated approach that leverages education, training, partnerships, and legislation to protect older Americans’ finances.

“For older Americans, financial literacy is not a luxury; it is key for building wealth, protecting savings and preserving autonomy,” says Christine Kieffer, Interim President of the FINRA Investor Education Foundation. Kieffer explained that financial literacy helps manage financial difficulties, but it is not enough to prevent scams. It should be combined with awareness of scams, an understanding of persuasion tactics, and a coordinated approach to ensure real protection.

Sam Kunjukunju, Vice President of Consumer Education at the American Bankers Association Foundation, suggested banks protect and educate older consumers, train bankers, work with law enforcement and adult protective services, and use technology. He also called for a nationwide education campaign and federal laws allowing banks to delay suspicious transactions.

From large banks to small community banks, these financial institutions offer fraud prevention workshops, online banking training, and financial wellness seminars, and coordinate outreach efforts with community organizations, says Kunjukunju, citing several examples.

Carly Roszkowski, AARP’s Vice President of Financial Resilience Programming, shared that 64% of adults worry about having enough money to retire, and nearly one in five non-retirees have no retirement savings. She discussed the real financial challenges older adults face.

AARP provides practical, easy-to-use digital tools (calculators, guides, and other resources) that enable older adults to make informed decisions about their financial future, thereby strengthening their long-term retirement security, says Roszkowski.

“The retirement system now shifts risk to the individuals, but education and support never caught up,” said Roszkowski in her testimony, explaining that the U.S. retirement system now places primary responsibility on individuals to manage savings, investing, and turning those savings into lifelong income.

“Financial literacy works – but only when it’s practical, sustained, timely, and paired with decision support,” adds Roszkowski.

Furthermore, Roszkowski argued that since individuals now bear more risk, financial literacy should be taught throughout one’s life. This approach should cover complex decisions that must be made in later years, as well as fraud risks, drawing on trusted, accessible sources.

In his testimony, Scott Kahan, a certified financial planner, also shared his experience navigating Medicare at age 65, even after 40 years in finance, to illustrate how complex it can be.

“Many people don’t use a financial planner for retirement planning. They might think they don’t have enough money or believe free help online is enough,” says Kahan, warning that this belief is often wrong and misleading.

Getting help from skilled, ethical financial planners like CFPs is essential and should not be considered a luxury, Kahan states, describing this assistance as a lifeline for managing financial complexity and avoiding fraud.

At this hearing, the expert witnesses said that today’s scams are sophisticated schemes that use Artificial Intelligence, voice cloning, and psychological manipulation. They also pointed out how hard it is to make wise choices about when to take Social Security, enroll in Medicare, and manage savings, especially when information is complex, hidden, and difficult to find on government websites, or even biased.

The witnesses also called on banks, government, regulators, nonprofits, and law enforcement to work together to help older Americans make better financial decisions and avoid scams. They often said that information and warnings should come from trusted sources such as family, bankers, financial planners, or groups like AARP.

 A Final Note…

Hopefully, the testimony at the Senate Aging Committee hearing will push Congress to move quickly to establish a “uniform national framework” that eliminates inconsistencies among state laws and better protects older Americans from today’s increasingly sophisticated fraud and scams. Possible steps include a federal “safe harbor” law allowing banks to delay disbursements or temporarily hold transactions when fraud is suspected, the creation of new task forces focused on combating elder fraud, and increased funding for national financial literacy campaigns.

The witnesses’ testimony about scams and complex systems may prompt federal agencies, such as the Securities and Exchange Commission, the Social Security Administration, and the Centers for Medicare & Medicaid Services, to make their communications and processes easier for older adults to access.

To watch the April 15 Senate Aging Committee Hearing, go to Empowering Seniors through Financial Literacy: Tools to Protect Savings, Prevent Fraud, and Promote Independence | United States Senate Special Committee on Aging

Download/read the “Guarding Your Nest Egg, a Financial Resource Guide for Older Adults:   https://www.aging.senate.gov/imo/media/doc/guarding_your_nest_egg_a_financial_resource_guide_for_older_adults.pdf

Senior Agenda Coalition of RI unveils its 2025 legislative priorities at forum,

Published in RINewsToday on March 17, 2025

On March 14, 2025, hundreds of older Rhode Islanders, aging network providers, state officials, and lawmakers gathered at the Senior Agenda Coalition of Rhode Island (SACRI)’s 2025 legislative forum, “United Voices for Meaningful Advocacy” at the Crowne Plaza in Warwick. With the RI House deliberating the FY 2025 budget and key legislation impacting older adults, SACRI announced its legislative priorities.

SACRI Board Chair Kathy McKeon gave welcoming remarks, giving recognition to major sponsor Delta Dental.  Serving as master of ceremonies, Executive Director Carol Anne E. Costa kept the three hour Legislative Forum on track.

SACRI Policy Advisor Maureen Maigret gave an overview and highlighted the growing influence of Rhode Island’s aging population.

“We’re 200,000 strong and growing,” she said, noting that within five years, one in four Rhode Islanders will be 65 or older. In 21 of the state’s 39 cities and towns, older adults now make up at least 20% of the population, with some communities reaching over 30%.

The Economic Impact of Older Adults

Maigret noted that 21% of older Rhode Islanders still work, many are caregivers for loved ones, and vote in higher numbers than any other age group. About 12% are veterans, and many volunteer at senior centers, Meals on Wheels, RSVP, and The Village Common of RI.

Older adults also contribute significantly to the economy. According to AARP’s Longevity Economic Outlook report, those aged 50 and older generate 40% of the nation’s GDP. In Rhode Island, retirees inject $4 billion into the economy through Social Security benefits.

However, many older adults struggle financially. “The ‘forgotten middle’ falls through the cracks,” Maigret said, referring to those with low incomes who don’t qualify for Medicaid or other public benefits. Long-term care costs are rising, and even with home equity many middle-income adults will not be able to pay for long-term.

Census data reveals that one in four Rhode Island households headed by someone 65 or older  have incomes less than $25,000 annually, and nearly half have  less than $50,000. The average Social Security benefit is $23,995, with men receiving $26,372 and women $23,565.

Shaping SACRI’s 2025 Legislative Agenda

Survey results from SACRI’s October 2024 Conference guided this year’s priorities. Among 241 respondents (42% aged 75 and older), top concerns included healthcare costs and access, economic security, housing, and community supports.

SACRI’s top priority is expanding the state’s Medicare Savings Program (MSP) by increasing income and asset limits. “Expanding MSP eligibility would provide an extra $185 monthly, or $2,200 annually, to thousands of older adults,” Maigret said. The federal government would cover the cost of those newly eligible. This extra income could help with food, utility bills, or rent and a boon to the state’s economy, she said.

With primary care practices closing due to retirement and low reimbursements, SACRI is pushing for a rate review to ensure competitive payments.

Though fewer than 5% of older Rhode Islanders live in nursing homes, Maigret stressed the importance of addressing the industry’s staffing shortages,  and substandard care, SACRI supports increasing wages for direct care staff, rewarding high-performing nursing homes, ensuring financial transparency, and preventing Medicaid cuts.

To address the housing crisis, SACRI advocates for fair allocation of state housing funds for housing for older adults and persons with disabilities. With public housing waitlists up to five years long, this is essential. SACRI is also pushing to expand income eligibility for the property tax relief program to $50,000 and mandating accessibility features in new developments.

Aging in place is another priority. SACRI calls for adding $600,000 ($10 per person age 65 and older) to the state budget to support community senior centers and enacting a caregiver tax credit to assist Rhode Island’s 112,000 caregivers, who spend an average of $7,000 out of pocket annually.

SACRI also seeks to increase Medicaid’s asset limit from $4,000 to $12,000 to help older adults on Medicaid remain at home. Additional funding for volunteer programs and continuing the “Ride to Anywhere Pilot” are also on SACRI’s agenda.

Maigret also noted SACRI is in close contact with the state’s Congressional delegation to oppose any harmful Medicaid cuts or changes in Social Security.”

Lawmakers Respond

Bringing greetings from House Speaker Joe Shekarchi, Rep. Lauren Carson (D-Dist. 75, Newport), who chairs the Special Legislative Commission on Services and Programs for Older Rhode Islanders, acknowledged the political power of older voters. “In the 2024 primary, 87% of voters were over age 85. I paid close attention to that,” she said.

Carson emphasized the importance of protecting Social Security, Medicare, and Medicaid. “Social Security is a promise. We paid into it. We can’t lose that program,” she said.

She highlighted legislative victories from 2024, including a $10 million investment to stabilize nursing homes, raising the pension exemption from $20,000 to $50,000, and launching the “Digital Age” initiative to bridge the digital divide. However, she stressed that more work remains.

Carson is also leading efforts to eliminate ageist language from state statutes, replacing terms like “elderly” and “senior citizen” with “older adults.” “We’re living diverse lifestyles beyond age 60, and our language should reflect that,” she said.

Representing Senate President Dominick J. Ruggerio (D-Dist. 4, North Providence, Providence) Senator Jacob E. Bissaillon (D-Dist. 1, Providence), chair of the Senate Committee on Housing & Municipal Government, echoed Carson’s concerns. He warned that state lawmakers must protect hard-won progress in light of potential federal cuts and a $250 million state budget shortfall.

Bissaillon called for addressing the housing crisis. “There are 150,000 Rhode Island households paying over 33% of their income on housing. We need 20,000 more affordable units and 2,000 permanent supportive housing units,” he said. He also supports eliminating the state income tax on Social Security and pointed to the Senate’s newly established Artificial Intelligence and Emerging Technologies Committee noting it is important aims to protect older adults from cyber scams. “It’s critical that Rhode Island keeps pace with technology,” Bissaillon said “We have our work cut out for us,” he concluded.

Following the legislative priorities session, Carlson called to order a meeting of the Special Legislative Commission on Services and Programs for Older Rhode Islanders.

At this time, Elizabeth Dugan, PhD from the University of Massachusetts Gerontology Institute presented highlights from the 2025 RI Healthy Aging Data Report scheduled for full release on May 1st.

A Final Note…

It was obvious today that older voices must be heard,” said Director Mary Lou Moran of the City of Pawtucket’s Division of Senior Services, emphasizing the importance of SACRI’s Legislative Forum . She noted that the event provided a valuable opportunity for seniors, aging advocates, and organizations to gather and share the latest information, resources and more importantly hear from the State’s legislative leaders.

Moran expressed her support for SACRI’s  advocacy for the State to allocate $10 per person aged 65 and over to communities  to fund senior centers and senior programs. “Senior centers play a vital role in helping older Rhode Islanders age in place within their communities and offer innumerable opportunities for social engagement, healthy living opportunities, and act as a reliable resource for not only them but for their families and their caregivers” she explained.

Moran also strongly supports SACRI’s efforts to increase the income eligibility for the state’s Medicare Savings Program (MSP). By participating in MSP, individuals can have their Part B Medicare premium covered, and for some low-income participants, the program also helps with prescription drug costs. “Reducing the cost of Part B premiums and, for some[]  who are income eligible, covering  prescription drug expenses allows older adults to redirect those savings toward essentials like rent,  utilities, and food,” she added. 

To watch SACRI’s Leadership Forum held on March 14, 2025, go to:                                                                https://capitoltvri.cablecast.tv/show/10954?site=1.    

To view Larson’s  Special Legislative Commission on Services and Programs for Older Rhode                                                            Islanders held at SARCI’s Leadership Forum, go to:                                                                          https://capitoltvri.cablecast.tv/show/10955?site=1.

To learn more about SACRI, go to https://senioragendari.org/

AARP and RISD showcase ADU concepts and designs on Smith Hill

Published in RINewsToday on January 29, 2024

During a 45-minute press conference held Thursday in the Library of the Rhode Island State House, AARP Rhode Island and Rhode Island School of Design (RISD) showcased a RISD student design competition displaying Accessory Dwelling Unit (ADU) designs created by 10 RISD student teams, consisting of 10 students per team.

The ADU concepts were developed following a prompt that RISD and AARP RI posed to Interior Architecture students in November, challenging them to develop creative ADU concepts that would illustrate the range of benefits this housing option can offer for people to age in place at home. Unveiling these ADU concepts at the Jan 25th press conference just one hour before a scheduled hearing of the House Committee on Municipal Government that would hear seven bills related to zoning standards for ADUs was just a coincidence, says AARP Rhode Island State Director Catherine Taylor, noting that the design project began over one year ago.   

One of the scheduled bills, H 7062, reintroduced by Rep. June S. Speakman (District 68, Bristol/Warren), chairwoman of the House Commission on Housing Affordability and strongly supported by House Speaker K. Joseph Shekarchi (District 23, Warwick), would boost the state’s housing production by helping boost housing production by helping Rhode Islanders to develop ADUs on their property. It would provide homeowners the right to develop an ADU within the existing footprint of their structures or on any lot larger than 20,000 square feet, provided that the design satisfies building code, size limits and infrastructure requirements.

Lawmakers, state officials, municipal planners, affordable housing advocates, members of the AARP Red Rhode Island Team, and aging advocates, gathered in the packed library room to view the well-considered designs unveiled at the press conference. At the conclusion of the event, it was announced that Team Seven’s design concept was selected by a panel of judges.

Advocating for ADU-friendly state zoning laws

“You see here today some truly innovative ADU concepts,” said AARP Rhode Island’s Catherine Taylor, who served as the press conference’s master of ceremonies. “The RISD Interior Architecture students have earned our admiration for both their creativity and their clear understanding of the housing needs of older adults, she said, thanking RISD faculty members – led by Wolfgang Max Rudorf and Elizabeth Debs – who embraced this project.     

“People thinking of downsizing, hoping to be near families and caregivers, or wanting to stay in a familiar community as they grow older, are very interested in ADUs as flexible and affordable housing options,” said Taylor.

“The inspiring work by these talented RISD students will help raise awareness of the many ways ADUs can be designed to meet the needs of older Rhode Islanders and their families,” adds Taylor. “We’re delighted to display these exciting designs at the State House so that lawmakers and their constituents can see for themselves why ADUs make so much sense.”

House Speaker Shekarchi noted that the design proposals were a great way to leverage some of the incredible talent in Rhode Island to find creative solutions to one of the state’s biggest challenges, its housing crisis. “The competition also raises the dialogue – it gets people talking about ADUs, how they can add to our community, and how they can be functional and created,” says Shekarchi.

Looking back, Shekarchi told the packed room that the House passed legislation to make it easier for homeowners to add an ADU to their home. “Unfortunately, it did not pass the Senate, but I’m hopeful we can get it over the finish line this year,” he pledged.

Senator Megan E. Kallman (District 15, Pawtucket, Providence), who sponsored ADU legislation in the lower chamber last year, came to the press conference to “check out some amazing student generated ADU design concepts,” calling ADUs the absolute game changers. “Their benefits extend to all corners of our communities… and people of all ages, from all walks of life.”

Senator Victoria Gu (District 38, Westerly, Charlestown and South Kingston), who is expected to introduce H 7062’s companion measure in the Senate attended the press conference, identifying ADUs as a key component of housing supply. “When you look across the country, ADUs will get people housed in the short term because they are faster to construct or renovate when compared to new construction. We need that solution here now more than ever,” she said.

Like the other speakers, Rep. Speakman observed that “ADUs is an easy idea to run with,” taking allocating her time at the podium to thank and address the RISD students who participated in this project. “Architects often tell me that form follows function. We told you what the function is and you have given us beautiful form.  This helps us to make our case for ADUs to those who are unfamiliar with the form.  They can take a look at your work to see how they can beautifully fit into neighborhoods into yards, notes Speakman, a political science professor who teaches at Roger Williams University.

Marianne Kelly, a legislative advocacy volunteer for AARP who has lived in a few ADUs over the years, sees this housing option as a creative solution to address a housing shortage that disproportionately impacts seniors. “Utilizing existing space to create alternate solutions just makes sense,” she told the attendees.

“In the Interior Architecture department at RISD, we look for opportunities to use design as a way to explore pressing community needs with collaborators who are experts in their fields,” noted faculty member Elizabeth Debs. “AARP has been stellar to work with – in only a few days, students quickly learned important strategies for aging in place, as well as universal design approaches they will be able to use throughout their careers.,” she says.

According to Debs, the sophisticated and nuanced proposals showed an understanding of designing for a range of populations and abilities, and created sensitive, barrier-free designs that focused on well-being. “The students really absorbed the important issues presented by AARP and demonstrated empathy for the different populations that need ADUs through the designs,” she said.

ADU Contest Criteria

RISD Interior Architecture faculty encouraged student teams to create designs with an overall goal of thoughtfully increasing the production of ADUs that support aging in place. Criteria included:

Siting Consider the relationship to primary structure and neighboring lots through design to enhance privacy and a balance between independence, safety, and support. When siting the structure consider paths of access, solar orientation, view lines, impact to the site/landscape, and access to vehicles.

Diverse family and household types Accommodate the needs of older adults, disabled persons, caregivers, and renters.

Age-Friendly Design for aging-in-place by incorporating age-friendly features. The size and use of these dwellings will require that they be single story, and reachable via a graded entry. Proposals should include universal design features and be adaptable over time.

Affordability Encourage designs that are lower cost to construct and maintain to make them financially accessible to households with the widest possible range of incomes.

Sustainability Plan for long term environmental impacts, including initial construction, life cycle considerations, material selection, energy and resource conservation etc.

Innovative construction methods Support new construction and delivery methods, such as panelized, modular, or prefabricated homes.

At a minimum, the ADU designs were expected to include facilities for food preparation and eating, bathing and toileting, sleeping, recreation, storage, utilities, and outdoor use. The building size may vary from a minimum of 350 are feet to a maximum of 900 square feet.

“The AARP Livability Index shows that all communities have room to improve to ensure that residents of all ages are active, engaged, and supported, particularly when it comes to affordable housing options,” said Rodney Harrell, PhD, AARP Vice President of Family, Home, and Community. “Everyone has a role to play – from community members to researchers, to local advocates and policymakers – to help fill the gaps between what people want and need and what their communities provide, so more older adults can live independently.”

“We must reframe how we think about housing as we grow older, and ADUs are part of the equation,” added Taylor. “Aging in community is possible if homes can be modified to accommodate changing needs. Our cities and towns must have housing options that are suitable for differing incomes, ages and life stages. ADUs are one way to accomplish this goal.”

To watch the press conference, go to: https://capitoltvri.cablecast.tv/show/162?site=1.

 

ADUs at RI State House: See RISD designs of Accessory Dwelling Units. Hearing to follow.

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