The Centers for Medicare and Medicaid Services faces a critical staffing shortage, exacerbated by a recent government shutdown and cuts at the Department of Health and Human Services, health policy experts say. Increased staffing is needed to ensure effective communication and delivery of Medicare benefits, as nearly half of the CMS workforce was furloughed and a 15% reduction in staff has been noted recently.

Self-funding long-term care is a precarious strategy, even for affluent families, as it exposes portfolios to significant financial risk, writes Chad Druvenga of CBS Brokerage. Druvenga notes that a 61-year-old putting aside about $10,500 a year for 10 years would need to earn nearly 10% annually after taxes and fees for 20-plus years to keep up with long-term care costs, which is unrealistic for most retirees.

Panelists discussed fiduciary duties, design considerations and communication strategies for integrating annuities into defined-contribution plans at a recent PLANSPONSOR Roadmap Livestream Series. Brian Coleman of Dawn Foods shared his company's journey in offering guaranteed income options since 2014, noting the need for a multifaceted communication approach, using newsletters, electronic boards, podcasts and a YouTube channel, to reach the company's diverse workforce.

The Federal Reserve announced a quarter-point reduction in its benchmark interest rate, marking the second rate cut of the year. A statement from the Federal Reserve noted that "job gains have slowed, and the unemployment rate has edged up but remained low through August."

With $120 trillion in wealth set to be transferred over the next 25 years, next-generation financial advisors are preparing to capitalize on the tendency of inheritors to switch wealth managers. Three next-gen advisors discuss the importance of empathy, transparency and technology integration in building relationships with clients.

Artificial intelligence is increasingly being used by cybercriminals to target high-net-worth individuals, with impersonation scams rising by 148% in the past year. Sid Yenamandra of SurgeONE.ai encourages advisors to educate clients about the unique risks they face, recommend robust cybersecurity practices -- such as multifactor authentication and limited social media sharing -- and consider engaging a cybersecurity specialist.