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Last December, the 21st Century Cures Act became law, opening the door to the assignment of greater federal funds for medical research and more expedient approval of medical devices and drugs by the Food & Drug Administration.

The Act directs the FDA to use "real world evidence" as well as random clinical trials when evaluating whether medicines and devices should be approved. "Data summaries," instead of full clinical trial results, can now be used to support approval of certain medicines. Drug makers are now allowed to promote off-label uses for medications to insurance companies. Critics of the Act say that it could risk rushing flawed drugs and treatments into the health care market; supporters applaud the Act for giving the FDA the potential to fast-track "breakthrough" devices and drugs. 2

2 - http://www.nextavenue.org/winners-losers-21st-century-cures/

284

As 2016 ended, the 17th Annual Transamerica Retirement Survey appeared and noted a preference for a phased retirement among a majority (53%) of workers polled by the insurance and investment company's Center for Retirement Studies. In fact, 48% of the pre-retirees surveyed felt that their current employer would allow them to continue working in some capacity after age 65.

How many employers are okay with workers staying on the job past 65? Perhaps more than many of us may assume: 72% of the workers Transamerica talked with said that their employer supported the idea, and 48% felt the company culture where they worked was "aging friendly."

On the downside, just 20% of employees surveyed said that their employers would let them ease into retirement through shorter workweeks or flextime, and 26% said that the company where they worked was doing "nothing" to help its employees make retirement transitions. Regarding aging in the workplace, one other statistic from the survey stands out: only 42% of respondents said that they were keeping their job skills up to date, which might be a necessity if they want to stay in the workforce into their sixties. 1

1- http://transamericacenter.org/docs/default-source/retirement-survey-of-workers/tcrs2016_sr_retirement_survey_of_workers_compendium.pdf%20

Regulatory Disclosure: The information on this website has been obtained from sources considered reliable, but its accuracy and completeness are not guaranteed. This website is neither an offer to sell nor a solicitation to buy any securities. Gerard Gruber offers Securities and Investment Advisory and Financial Planning service through Geneos Wealth Management, Inc, Member FINRA/SIPC.  Investments are not FDIC insured. Investments are not deposits of the financial institution and are not guaranteed by a financial institution. Investments are subject to investment risks including loss of principal amount invested.