THE MALDEN ADVOCATE–Friday, April 21, 2023 Page 19 HEARING | FROM PAGE 18 who are ‘essential’ to a thriving, healthier future for our older residents. Even before the pandemic, we have known that there are signifi cant health and wellbeing challenges for our seniors, their families, and the workforce who cares for them. And with an average of 10,000 baby boomers turning 65 every day in the country, it is imperative that state laws meet the moment. The three bills considered by the Committee refl ect robust collaborative engagement among legislators, executive branch offi ces, advocates, and other stakeholders and will eff ect critical reforms in nursing homes, assisted living residences, and home care across the continuum of care.” “COVID-19 has taught us how essential our seniors and those who care for them are. The three bills heard today are critical to vastly improving the continuum of care for elders,” said Representative Stanley. “The committee will take the critical comments heard today and written testimony into consideration as we review the legislation.” An Act to improve quality and oversight of long-term care addresses the remaining needs highlighted in the 2020 Nursing Facility Task Force report, including establishing career ladder grants and student loan forgiveness programs, strengthening and enhancing the suitability standards of the Department of Public Health (DPH) and providing DPH with additional tools to monitor and take punitive action on facilities. Attorney General Andrea Campbell testified in support of the bill and spoke to how increasing the oversight of the nursing home industry is vital to ensuring the health and safety of seniors. This bill increases the maximum civil penalties for abuse, neglect and death of a patient or resident of a longterm care facility and increases the statute of limitations from two years to four years. Advocates drew attention to the critical workforce crisis faced by the nursing home industry. According to the Massachusetts Senior Care Association, there are 8,000 vacancies (about one in fi ve employees) across the Commonwealth, leaving more than 3,000 licensed beds unavailable due to shortages. The use of temporary nursing agencies has tripled since 2019 and exacerbates the staffing shortage further. The bill’s provisions to create a living wage for workers, creating career ladder grants, and increased training for workers will help improve the workforce crisis by creating incentives for new workers to join the industry and for existing employees to stay, further develop their skills and assume leadership roles. An Act to improve Massachusetts home care establishes a licensure process for home care agencies with the goal of improving standards and preventing the abusive treatment of home care workers, personal care attendants and consumers. New standards for home care agencies found in the bill include a 5% ownership fi nancial disclosure, fi nes and punishment, appropriate levels of training and competency for staff , and liability insurance. Massachusetts is one of the few states in the country that does not license home care agencies. Those testifying made clear how by licensing home care agencies and increasing oversight, both consumers and home care workers would be protected. An Act authorizing common sense health services in assisted living would give assisted living facilities the option to provide basic health services by a Registered Nurse or Licensed Practical Nurse with written approval from the Executive Offi ce of Elder Aff airs. Basic health services authorized in the bill would include administering injections, such as insulin, managing oxygen, applying drops or ointments and handling wound care. Assisted living facilities are currently allowed to offer basic health services under an emergency order – and extended via legislation – that is set to expire on March 31, 2024. Without a permanent solution, residents and their families would need to arrange for a private outside nurse to visit and administer basic health services. Industry leaders as well as the families of those currently in assisted living and receiving these services spoke to the impact of this legislation. A full recording of the event is available on malegislature. gov. Public Hearings on additional legislation will continue this spring and through the summer. - LEGAL NOTICE - COMMONWEALTH OF MASSACHUSETTS THE TRIAL COURT PROBATE AND FAMILY COURT Middlesex Division Docket No. MI23P1942EA Estate of: RONALD GILBERT Date of Death: FEBRUARY 22, 2022 INFORMAL PROBATE PUBLICATION NOTICE To all persons interested in the above captioned estate, by Petition of Petitioner Janis L. Cutler of New York, NY. Janis L. Cutler of New York, NY has been informally appointed as the Personal Representative of the estate to serve without surety on the bond. The estate is being administered under informal procedure by the Personal Representative under the Massachusetts Uniform Probate Code without supervision by the Court. Inventory and accounts are not required to be filed with the Court, but interested parties are entitled to notice regarding the administration from the Personal Representative and can petition the Court in any matter relating to the estate, including distribution of assets and expenses of administration. Interested parties are entitled to petition the Court to institute formal proceedings and to obtain orders terminating or restricting the powers of Personal Representatives appointed under informal procedure. A copy of the Petition and Will, if any, can be obtained from the Petitioner. April 21, 2023 aavvyvy S avy avvy S oiorenniioor nior by Jim Miller New RMD Rules for 2023 Dear Savvy Senior, What are the new rules on required minimum distributions from IRAs and 401(k)s? I will turn 72 this year and want to be clear on what I’m required to do. Planning Ahead Dear Planning, Thanks to the SECURE Act 2.0 that was passed by Congress last December, there are several new rules that aff ect required minimum distributions (RMDs) from traditional IRAs, 401(k)s and other tax-deferred retirement accounts. These changes, which build on the original SECURE Act of 2019, are a benefi t to retirees by increasing the RMD age and lowering the penalty for missing a withdrawal. Here’s what you should know. New RMD Rules As of Jan. 1, 2023, the starting age for taking RMDs is now 73, up from 72. And it rises to age 75 in 2033. This change means that if you turn 72 this year, as you stated in your question, you can delay your RMDs one more year, allowing your savings in these accounts to grow longer, tax deferred. But once you turn 73 (next year), you must start taking annual RMDs from the tax-deferred retirement accounts you own – like traditional IRAs, SEP IRAs, SIMPLE IRAs, 401(k)s, 403(b)s and 457(b)s – and pay taxes on those withdrawals. Distributions are taxed as ordinary income in your tax bracket. There are, however, a few exceptions. Owners of Roth IRAs are not required to take a distribution, unless the Roth is inherited. And starting in 2024, Roth 401(k)s will not be subject to RMDs either. There’s also a work waiver for RMDs you should know about. If you are still working beyond age 73, and you don’t own 5 percent or more of the company you work for, you can delay withdrawals from your employer’s retirement plan until after you retire. But if you have other non-work-related accounts, such as a traditional IRA or a 401(k) from a previous employer, you are still required to take RMDs from them after age 73, even if you’re still working. Deadlines and Penalties Generally, you must take your distribution every year by Dec. 31. First timers, however, can choose to delay taking their distribution until April 1 of the year following the year you turn 73. But be careful about delaying, because if you delay your fi rst distribution, it may push you into a higher tax bracket because you must take your next distribution by Dec. 31 of the same year. Also note that you can always withdraw more than the required amount, but if you don’t take out the minimum, you’ll be hit with a 25 percent penalty (it was 50 percent) on the amount that you failed to withdraw, along with the income tax you owe on it. This penalty drops to 10 percent if you take the necessary RMD by the end of the second year following the year it was due. Distribution Amounts Your RMD is calculated by dividing your tax-deferred retirement account balance as of Dec. 31 of the previous year, by an IRS estimate of your life expectancy. A special rule applies if your spouse is the benefi ciary and is more than 10 years younger than you. IRA withdrawals must be calculated for each IRA you own, but you can withdraw the money from any IRA or combination of IRAs. If you own 403(b) accounts, they too allow you to total the RMDs and take them from any account or combination of accounts. With 401(k) plans, however, you must calculate the RMD for each plan and withdraw the appropriate amount from each account. To calculate the size of your RMD, you can use the worksheets on the IRS website – see IRS.gov/Retirement-Plans and click on “Required Minimum Distributions.” Or contact your IRA custodian or retirement-plan administrator who can do the calculations for you. For more information, see the “Distributions from Individual Retirement Arrangements” (publication 590-B) at IRS.gov/pub/ irs-pdf/p590b.pdf. Send your senior questions to: Savvy Senior, P.O. Box 5443, Norman, OK 73070, or visit SavvySenior.org. Jim Miller is a contributor to the NBC Today show and author of “The Savvy Senior” book.

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