SUPPORTING SENIORS

Action: This bill helps stop financial predators from scamming seniors out of their savings by creating a federal Senior Investor Task Force within the Securities and Exchange Commission (SEC) to strengthen protections and safeguards for senior investors.
Result: Passed the House (Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs)

Date: 4/13/2023

Action: This bill updates Federal securities laws to enhance 403(b) retirement plans.
Result: Reported (Amended) by the Committee on Financial Services.

Date: 5/2/2023

Action: This bill waives early withdrawal penalties from retirement accounts for family caregiving expenses. 

Result: To be introduced

Date: TBD

Action: This bill establishes a grant program at the U.S. Securities and Exchange Commission to invest in states’ scams responses, and allow states to staff up their scam enforcement offices, invest in cutting-edge technology, develop educational resources that inform the public about scams, and create forward-thinking strategies to combat financial exploitation and fraud targeting seniors.

Result: Referred to the House Committee on Financial Services

Date:  5/21/2024

Action: This bill creates a once in a lifetime credit for these seniors to use; allowing for a one-time exemption of the current Roth IRA contribution limits of $7,000 for those nearing retirement — helping seniors in retirement by reducing the taxes paid from the sale of their home and helping put those dollars into their retirement savings.

Result: Introduced in House

Date: 7/24/2017

Action: This bill requires creditors to establish a hotline for assisting consumers who are 50 years of age or older to resolve billing errors and mitigate fraud. 
Result: Referred to the House Committee on Financial Services.

Date: 7/19/2023

Action: This bill establishes an alternative formula to calculate Social Security retirement benefits for those who receive pensions for certain non-covered employment. 

Result: Referred to the Subcommittee on Social Security. 

Date: 04/01/2021

Action: This resolution expresses support for the designation of National Senior Fraud Awareness Day and encourages the development of policies that help prevent scams targeting older adults.

Result: Referred to the Subcommittee on Consumer Protection and Commerce.

Date: 5/14/21

Action: This letter urges Facebook, Instagram, and Twitter to: Add warning labels on fraudulent content and accounts that have been flagged as potential senior scammers, provide information about reporting scams and frauds to law enforcement, and reduce the abilities of accounts that have been flagged for senior scams.

Date: 05/06/2024

Action: This letter expresses concern about a growing Medicare scam.

Result: No press release

Date: 5/14/2018

Action: This letter requests detailed information on how the Federal Trade Commission is helping consumers protect themselves against IRS impersonation scams, requests any recommendations for Congress to improve enforcement, and asks how FTC partners with state agencies such as the New Jersey Office of Consumer Protection to address these scams.

Result: No press release

Date: 4/9/2018