Employer-sponsored retirement benefits, along with other employee perks, are experiencing tough times. The fact is, pension plan retirement income, generously calculated based on years of service and attained earnings and adjusted to account for the cost of living, is simply too expensive for most businesses to maintain. The increased requirements around pension plan funding combined with a brutal stock market, shrinking profits and stockholder demand have created an extremely unfavorable environment for the continuation of employer-funded retirement plans.
According to the American Association for Long-Term Care Insurance, approximately 7.5 million individuals currently receive long-term care at home because of an acute illness, long-term health condition, permanent disability, or terminal illness. That compares to only 1.5 million in nursing homes and 1.1 million in assisted-living facilities who receive similar care for the same types of conditions. That means nearly three times more people are receiving care at home rather than in a residential facility.
Soroptimist International of Dover is seeking applicants for the 2010 Scholarship awards, the Women’s Opportunity Award and the Violet Richardson Award. The Soroptimist Women’s Opportunity Award is a cash award that is granted to a woman who is a head of household and striving to overcome adversity through continuing her education.