Join our distinguished panel for a discussion of elder financial abuse

Woodstock Developments

A monthly update on new research, analysis, and advocacy from the Woodstock Institute

 

From the President: Join our distinguished panel for a discussion of elder financial abuse

Dory Rand
As part of Woodstock Institute’s Community Investment Awards event on May 9 in Chicago, we will screen the short documentary film “Fleeced: Speaking Out Against Senior Financial Abuse” and host a panel and audience discussion after the screening. 
 
Following the panel, we will invite attendees to ask questions and participate in the discussion. We will also share information on opportunities to engage in future events and programs to protect older Americans from financial abuse. 

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Related: What can we do about senior financial abuse?

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Illinois Senate Votes for the Illinois Secure Choice Savings Program

Senator BissOn a vote of 31 to 22, the Illinois Secure Choice Program (SB2758) passed out of the Illinois Senate earlier this month. The bill will give millions of private sector workers the opportunity to save their own money for retirement by expanding access to employment-based retirement savings accounts. 

SB2758, sponsored by Senator Daniel Biss, will automatically enroll workers without access to an employer-based retirement plan into the Secure Choice program. While workers can opt out of the program, those who do participate will be able to build savings in an Individual Retirement Account (IRA) through a payroll deduction. 

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Related: Honoring a champion for retirement security

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Illinois House House Passes Bill to Protect Workers' Wages

Payroll CardsThe Illinois House last week took the first step towards ensuring that workers who receive their wages on payroll cards are protected from deceptive fees that can eat away at their earnings.

Businesses across the country are turning to payroll cards as a cost-saving method for paying employees. Distributing earnings via payroll cards can be a cheaper for employers than distributing paper checks. For workers who do not have bank accounts where money can be directly deposited, a payroll card can be safer than carrying cash. Unfortunately, payroll cards are often littered with fees.

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Share your thoughts on our data portal

Data portal graphNearly a year ago, Woodstock launched our online data portal in order to deliver meaningful data on the Chicago six county region for our community partners in a user-friendly way.Since then, thousands of visitors have used the portal to understand the challenges facing their communities.

If you have used the data portal in your work, we invite you to share your experience by taking our short survey. By submitting your data portal feedback, you will also be entered into a drawing for two tickets to Woodstock’s Community Investment Awards and Film Screening on May 9 at Instituto Cervantes ($70 value). Please fill out the survey by Tuesday, April 22 in order to be entered into the drawing.  

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New at Regional Housing Partnership: Report Finds Fast-Tracking Foreclosures Could Save Ohio and Pennsylvania $24 Million Annually

Fast tracking foreclosuresThe Federal Reserve Bank of Cleveland released a report earlier this month finding that adoption of a fast-track foreclosure process for abandoned properties in the states of Ohio and Pennsylvania would save the states at least $24 million annually.
 
A fast-track foreclosure process streamlines the foreclosure process in judicial foreclosure states—states in which residential foreclosures must be approved by the Circuit Court. The foreclosure process has a longer timeline for judicial foreclosure states. Illinois foreclosures, for example, took an average of 815 days to complete the process in 2013.
 

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