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House Co-Sponsorship Memoranda
House of Representatives
Session of 2013 - 2014
Regular Session
MEMORANDUM
| Posted: | October 15, 2013 11:36 AM |
|---|---|
| From: | Representative Stephen McCarter |
| To: | All House members |
| Subject: | Senior Citizen Retirement Investment Protection Commission |
| In the near future, I plan to introduce legislation that establishes the Senior Citizen Retirement Investment Protection Commission. In the 21st century, Americans are living significantly longer than previous generations and planning for a financially secure retirement remains an important goal for many individuals. Unfortunately, older populations are especially vulnerable to the financially devastating impact of frauds and scams; which negatively impacts their personal financial management decisions. Additionally, investment fraud disproportionally hurts seniors and they have less opportunity to rebuild wealth. This legislation establishes the Senior Citizen Retirement Investment Protection Commission which will meet twice annually to devise public policies, procedures, and public educational tools to help senior citizens in Pennsylvania manage their personal retirement investments; as well as, protect them from unscrupulous practitioners who may prey on seniors and their retirement investment accounts. The Senior Citizen Retirement Investment Protection Commission will consist of the secretaries or their designated representatives of the Departments of Aging, Revenue, Banking, and the Office of the Attorney General; in addition to, representatives from the Majority and Minority Leader of each caucus, the President of the Senate, and the Speaker of the House Representatives. Please join me in sponsoring this important legislation. |
Introduced as HB1771