News
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Legislative Update For Week Ending September 21 2012
The research appears to be good news in the desperate effort to arrest the spread of the virus and suggests a way to ease vaccine shortages and get people vaccinated more quickly. .TSCL supports allowing any veteran to get the Covid vaccine at the VA and we will keep an eye on the progress of this effort. .But critics say the failure to make in-person checks prevented states from identifying lapses at a crucial time. The fact that family members were blocked from visiting their relatives — a policy intended to prevent the virus from entering the facility — removed another source of accountability in homes, some of which ended up having more than half of their residents stricken with the coronavirus. … Continued
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The Advisor Volume 16 No 5 July 2011 Feed
Government agencies will identify themselves. .We can no longer kick the can down the road." .I've been hearing a lot recently that Social Security is a Ponzi scheme. Just how much in Social Security benefits can I expect? I just turned 62, but I'm still working and haven't started benefits yet. … Continued
That represents a huge liability to the Social Security Trust Fund, should there be an amnesty. Every year the SSA processes millions of W2s. When a name or SSN on a W2 doesn't match the SSA's records, the wage report goes into an "Earnings Suspense File" (ESF) until the discrepancy can be reconciled. The ESF file today contains more than 312.7 million wage items representing 5 trillion in wages. Wages are what the Social Security Administration uses to determine entitlement to Social Security, rather than the amount of taxes paid. Immigration reform advocates say that although payroll taxes are withheld from the checks of illegal workers, they have little chance of collecting benefits. .Social Security's "full" retirement age is the age at which you qualify for full, un-reduced benefits. It's based on your date of birth, so it varies for everyone. In 1983, Congress enacted changes that very gradually raised the full retirement age to age 67 by the year 202The full retirement age for people born between 1943 and 1954 is 6For those born in 1955 it is 66 and 2 months and it goes up 2 months per year for those born between 1956 and 195For people born in 1960 and thereafter, the full retirement age is 67. .In May, I introduced bipartisan legislation with Rep. Joe Heck (NV-R). Our plan, the Medicare Physician Payment Innovation Act (H.R.5707), ends the broken physician reimbursement system and replaces it with a new, long-term plan that will treat physicians fairly, improve patient outcomes, and reduce costs in Medicare. It also sets us on a long-term path toward greater quality, value, and fiscal responsibility in Medicare and will save billions for taxpayers over the long run. This bill has been endorsed by the Fleet Reserve Association, American Academy of Family Physicians, American College of Physicians, the American Geriatrics Society, and other leading organizations. .In 2015, after a national coalition of senior advocacy groups (including TSCL) demanded action, Congress reduced the increase in Part B premiums from 9.30 per month to 1.80 per month, which was still a very high increase of 16.1 percent. The premium included a "repayment" amount that was added to monthly premiums of all beneficiaries in future years to recover the cost of the reduced premium rate in 2016 over time. .For example, one Maine resident worked in the private sector, paying into Social Security for fifteen years before she returned to the teaching profession. Her earned Social Security benefits would have totaled 0 a month. However, due to the WEP, she receives only 0 each month from the program. She is also unable to collect Social Security spousal benefits due to the GPO, even though her spouse paid into the system throughout his entire career. In retirement, she must rely almost entirely upon her teaching pension, which is modest since she spent only a decade in the profession. She told the National Education Association, "If I had known the severe financial penalty I was to pay for returning to teaching, I don't think I would have done it." .Social Security and Medicare are the targets of a growing number of new budget plans aimed at reducing federal spending. President Obama's Fiscal Commission recently voted 11-7 to cut Social Security benefits for all seniors, and require beneficiaries to pay substantially more for their Medicare. .Many on Capitol Hill consider the proposal to be a political document and deemed it "dead on arrival," though Congress could use the proposal as a road map while forming their own fiscal 2013 budget. TSCL will keep a close eye on this debate over the coming months. .Because COVID-19 has never been seen in humans before, there are currently no vaccines to prevent COVID-19 approved by the U.S. Food and Drug Administration (FDA). The FDA recently approved the first treatment for COVID-19, the antiviral drug remdesivir. .I worked in a California city police department for 30 years and I'm now entitled to a pension. For the past 8 years, I've also paid into Social Security for. Q & 038; April/May 2020 How Much May I Earn in the Year I Turn Full Retirement Age?
