On Wednesday afternoon, the Senate Finance Subcommittee on Social Security, Pensions, and Family Policy held a hearing titled: "Examining the Importance of Paid Family Leave for American Working Families." Those on the subcommittee heard from two of their colleagues – Senator Joni Ernst (IA) and Senator Kirsten Gillibrand (NY) – as well as three expert witnesses. .To be eligible for the Making Work Pay Tax Credit, individuals must have earned income from a job, be within income limits that apply to the credit, and have a valid Social Security number. Although the money was advanced in higher pay (and pension checks), taxpayers must figure the credit on Schedule M and attach it to a Form 1040 or 1040A in order to claim it. Taxpayers filing a 1040 EZ may figure the credit on the worksheet attached to the return. .Because the House of Representatives has 435 members its rules are much less complicated than the Senate's, which has 100 members. If the House had the same rules as the Senate, nothing would ever be accomplished. .Plan for health changes as you age. What are the chances of developing a chronic condition, like asthma, diabetes or high blood pressure later in life? It's a good idea to set aside a portion of your retirement savings for healthcare emergencies and health changes as you age. One way to figure this is by using the out-of-pocket maximum limits on your health plan and Part D coverage. For example, having an emergency healthcare account of at least ,450 set aside for a senior in reasonable health in 2013 is a smart idea. If you are in a health plan that has a maximum annual out-of-pocket limit, you will want to try to have at least that much set aside every year (that may be about ,700 in 2013, for example). Your Part D out-of-pocket maximum in 2013 is ,750. .The CPI-E regularly puts the spending inflation for seniors at two-tenths of a percentage point higher than the rate at which the CPI-W increases. That may seem like an insignificant amount, but over a twenty-five-year retirement, COLAs do compound significantly. We estimate that a senior who filed for Social Security benefits around thirty years ago would have received nearly ,000 more in retirement if the CPI-E had been used to calculate COLAs. .The TSCL study looks at the costs of goods and services that are typically purchased by most Social Security recipients. This includes expenditures such as the Medicare Part B premium, which is not measured by the index currently used to calculate the COLA, yet is one of the fastest growing costs that retirees face. Of the 39 items analyzed, 27 exceeded the COLA while 14 were lower than the COLA. .Each month, due to the Social Security Act Amendments that were signed into law in 1977, more than 3.7 million Notch babies receive Social Security checks that are lower than the benefits they originally anticipated. Last year, Representative Mike McIntyre (NC-7) introduced the Notch. Benefit Bulletin: June 2012 "Tough Choices" — Payroll Tax Cut For Illegals Or Notch Reform? .I've been out of work since late March. The company that I was working for is in the process of declaring bankruptcy, and I haven't found a new job yet. I turn 64 in two months, but if I start Social Security. Ask the Advisor: August 2020 Is Taking a Loan Against Your Social Security Benefits a Reasonable Option When You are Out of Work? .In addition, since 1992 there has been a significant change to the government's bottom line. For the government fiscal year ending September 30, 2000, the Congressional Budget Office (CBO) reported a surplus of 6 billion- billion of which comes from non Social Security revenues. The CBO estimates the 10-year non-Social Security surplus to be about .1 trillion.