Washington, D.C. - Congressman Dave Loebsack released the following statement today after Secretary of Defense Chuck Hagel announced that the number of furlough days civilian employees, including Rock Island Arsenal employees, must take was reduced to six.  Earlier this year, the Secretary had set the number of furlough days at 11 due to budget cuts that were created by sequestration and other budgetary factors. Loebsack has been opposed to these drastic cuts since they were created by the Budget Control Act, which he voted against.   He has repeatedly called on Congressional leaders to work to find a balanced, commonsense way to replace sequestration and responsibly deal with the fiscal situation facing the nation.

"While today's announcement by Secretary Hagel is encouraging news for the men and women at the Rock Island Arsenal, it is unconscionable that civilian workers were forced to take a pay cut because of dysfunction in Washington. I opposed the creation of sequestration and I adamantly opposed the decision to furlough any dedicated individuals who work every day on behalf of our troops and national security.  I remain committed to working on a bipartisan basis to replace sequestration with responsible deficit reduction that grows the economy and creates job.  I will continue to fight for the hardworking men and women at Rock Island Arsenal and the people who sequestration has affected most."

Too many people end up getting less than what's due them from Social Security when they retire because they don't know the rules and the real financial impacts, says independent retirement advisor Gary Marriage, Jr.

"There's a lot of talk about the future of Social Security, but we still have this benefit and if you're 50 or older, you should be planning to make the best use of it," Marriage says.

Marriage, CEO of Nature Coast Financial Advisors (www.naturecoastfinancial.com), which specializes in maximizing retirees' finances, shares important facts to keep in mind as you plan for how Social Security will factor in your retirement:

•  "Can I convince you to wait a few more years?" Many people are understandably eager to retire as early as possible; others fear Social Security retirement benefits will suddenly vanish, so they want to get what they can as quickly as possible - at age 62. But if you're counting on those benefits as part of your income, you should wait until you're eligible for the full amount. That's age 66 if you were born 1943-54, and age 67 if you were born in 1960 and later. If you're in the older group, retiring at 62 cuts your benefits by a quarter; for the younger group it's nearly a third. "Chances are, you'll be better of mentally and physically if you wait anyway," Marriage says. "Many studies show that people live longer and are more vital the longer they remain employed; more importantly."

• The reductions in Social Security add up to a considerable sum. The average retirement benefit in June of this year was 1,222.43, according to the Social Security Administration. People born in the 1943-54 group who are eligible for that amount at age 66 will get just $916.82 a month if they retire at 62. If they live to age 90, that's a total of $308,052.36. By waiting just four years, they'll net an additional $44,007.48. Waiting until age 70 can make you eligible for a bump in benefits - up to 8 percent a year - but there are no increases if you delay longer.

• If divorced, were you married for at least 10 years? Were you married for a decade and aren't currently remarried? You may be eligible to received benefits based on the former spouse's work record. Here are some of the other requisites: you must be age 62 or older, and the former spouse must be entitled to receive his or her own benefits. If the former spouse is eligible for a benefit, but has not yet applied for it, the divorced spouse can still receive a benefit. Additionally, two years must pass after the divorce.

About Gary Marriage

Gary Marriage, Jr. is the founder and CEO of Nature Coast Financial Advisors, which educates retirees on how to protect their assets, increase their income, and reduce their taxes. Marriage is a national speaker, delivering solutions for pre-retirees, business owners and seniors on the areas affecting their retirement and estates. He is an approved member of the National Ethics Bureau, and is featured in "America's Top Hometown Financial Advisors 2011." Marriage is also the founder of Operation Veteran Aid, an advocate for war-time veterans and their families.

New Law Authorizes Low-Interest Loans to Help Firms Get Funding They Need to Secure Bonding and Equipment Financing

CHICAGO - Governor Pat Quinn today signed a new law that will establish a revolving loan program to increase minority- and female-owned business participation in state construction projects. Governor Quinn made this issue a priority in his 2013 State of the State address, and the new law is part of his agenda to make business opportunities available to everyone in Illinois and drive the state's economy forward.

"Small, minority-owned firms often don't have the necessary resources to bid on state construction projects, and this new law helps them get a foot in the door," Governor Quinn said. "As the loans are paid back, those funds help other firms who are in the same situation, which grows our economy and creates jobs."

House Bill 3267, sponsored by State Representative William Davis (D-Homewood) and State Senator Mattie Hunter (D-Chicago), creates the Disadvantaged Business Revolving Loan Program and allows the Illinois Department of Transportation to make low-interest loans to certified minority- and female-owned businesses that have construction contracts with the agency. Many of these firms are small and lack the ability to obtain the lines of credit necessary to secure the bonding and capital equipment financing needed for state construction projects.

An initial state investment of $3 million will start the revolving loan program. Once operational the program will be largely self-funding, with payments on existing loans allowing new loans to be made. The new law takes effect immediately.

"The contracts awarded by our state departments should reflect the diversity of Illinois," Representative Davis said. "This measure helps to provide equal opportunities for firms owned by socially and economically disadvantaged individuals."

"I have worked tirelessly to create a state financing program that will level the playing field for all businesses by providing working capital to contractors who are shut out by the banks but, are qualified to successfully complete state construction projects," Senator Hunter said. "A subcontractor's inability to attain lines of credit severely hinders them from attaining bonding or becoming prime contractors. This legislation works to eliminate one of the major barriers to meeting those goals."

The new law will help these firms take part in Governor Quinn's $31 billion Illinois Jobs Now! program, which is supporting more than 439,000 jobs over six years. Illinois Jobs Now! is the largest capital construction program in Illinois history, and is one of the largest capital construction programs in the nation.

If you're a woman, chances are good that in the years ahead, it will be you and you alone who's responsible for managing your money.

That could be a problem: Even among the very affluent, many women admit they know little to nothing about bigger-picture money concerns such as financial planning and investment management, according to a recent survey.

"A lot of women cede those responsibilities to their husbands or partners because they say they don't have the time, interest or opportunity to learn," says Luna Jaffe, Certified Financial Planner™, psychotherapist, and author of the new "Wild Money: A Creative Journey to Financial Wisdom" and its companion workbook, "Wild Money: A Financial Field Guide and Journal," (www.lunajaffe.com).

"Things are changing- more women are choosing not to marry or have been devastated by divorce or death of a loved one.  They recognize they can't ignore money any more, but don't know where to turn or who to trust."

But even women with a net worth of at least $1 million concede they aren't especially knowledgeable about money management. In the Women & Wealth Study sponsored by GenSpring Family Offices, only a third said they know a lot about financial planning, and 30 percent said the same for investment management.

Part of the problem is that financial education is male-oriented, catering to how men's brains are wired and what appeals to them, Jaffe says.

"When we approach it creatively and from a more emotion-based perspective, women are not only drawn to learning about it, they have no trouble getting it," Jaffe says.

She offers these three things every woman should know about their relationship to money:

• Your investment decisions are influenced by your emotional baggage.
We all bring baggage into our relationships, and it's no different with money, Jaffe says. When you're not aware of the baggage operating quietly in the background, you may think you're making smart decisions when you're actually simply reacting to past experiences. And those might not have been even your own experiences! "Whether you or a loved one suffered the consequences of a bad financial investment, it can color your thinking in many ways, from destroying your confidence in your judgment to writing off all similar investments as 'bad.' '' Take time to reflect on the experiences you've had with investing, the decisions you made, and the conclusions you made as a result. What stories do you tell yourself because of these experiences?

•  Understand the emotional response with which you receive money, whether a paycheck, a gift or an inheritance. It's important to receive money with grace - to savor it, to be grateful for it, to be at peace with it. But depending on the circumstances by which it arrives, and lingering emotions from past experiences, we sometimes receive money with anger, guilt, resentment, greed, entitlement or any of a host of other negative emotions. This can lead to self-destructive actions. Jaffe shares a story about receiving a small inheritance from her father at a time when she had no money. She loaned the whole sum to a friend, who promptly vanished. "I was still grieving his death, and I received money that represented his legacy, yet it was only a tiny fraction of his estate - his second wife got everything else. Deep inside, I felt ripped off. Perhaps I thought by loaning my inheritance, I could wash the confusion and grief out of the money making it clean and safe to use. "

• Know your Comfort Zone for risk and stay within it. Investment comes with risks; you can assume a lot for potentially greater returns, or less for lower returns. Understanding your Comfort Zone and staying within it will help you stay committed to your financial plan. Would your best friend describe you as a risk taker? If you got $100,000 with instructions to invest it all in just ONE of these options - stocks, a savings account, a mutual fund portfolio of stocks and bonds, or your best friend's start-up - which would you choose? Knowing whether you're very conservative; happy with a little growth; comfortable with some ups and downs; or in for adventure will help you avoid taking financial advice that makes you uncomfortable.

About Luna Jaffe

Luna Jaffe is a Certified Financial Planner™ and Accredited Asset Management Specialist with more than 10 years of financial advising experience. She holds a master's degree in Depth Psychology and a bachelor's in Bilingual Education. Jaffe is a popular speaker whose creative compassionate approach to financial guidance differs sharply from male-oriented approaches. Securities and advisory services offered through KMS Financial Services, Inc.