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Missouri Warns Seniors About Pension Advances

The Missouri attorney general says he wants to see a state crackdown on growing practice targeting retirees' pensions.
MISSOURI--- The Missouri attorney general says he wants to see a state crackdown on growing practice targeting retirees' pensions. Chris Koster is warning Missourians about "pension advances" - where seniors get cash upfront in exchange for signing away a portion of their pension. He says the practice can involve effective interest rates of 27 to 106%, costing the elderly thousands of dollars in interest and fees. Koster is asking residents to notify his office if they are approached for a pension advance. For more information, click here.

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