Category Issues Social Security Notch Faqs Page 2
In coming years, growing program cost pressures could mean that some illegals may benefit from the use of invalid and fraudulent Social Security numbers at the expense of others who worked and paid into the system legally. TSCL's new 2014 Senior Survey found that 87 percent of respondents favor prohibiting payment of Social Security benefits calculated on earnings from unauthorized work by illegal immigrants. TSCL supports legislation that would prohibit earnings under invalid and fraudulent Social Security numbers from use in determining entitlement to Social Security benefits. .TSCL is hopeful that SSA will add additional options for authentication quickly so that Social Security beneficiaries without cellphones can regain access to their online accounts. Congressman Sam Johnson (TX-3) – Chairman of the Ways and Means Social Security Subcommittee – sent a letter to SSA's Acting Commissioner Carolyn Colvin on Tuesday requesting swift action. He wrote, "I urge you to take a hard look at this new policy and make the changes necessary to ensure that mySocialSecurity has the right balance between security and access." .In recent years the Earnings Suspense File has been growing at an unprecedented pace. A spokesman for the Department of Homeland Security, Russ Knocke, was recently quoted as saying that, last year, as many as 10% of the wage reports received by the Social Security Administration (SSA) belonged to employees whose name and Social Security number did not match those of SSA. … Continued
Congressional Corner Its Time For Seniors To Get A Fair Cola
According to the results, TSCL's members and supporters would prefer to see a more permanent solution. Forty-eight percent of respondents said the DI program should tighten its eligibility requirements and conduct more continuing disability reviews to reduce fraud, and 51 percent said high wage earners should be required to pay Social Security taxes on all of their incomes. .An Emergency COLA in 2021 Would Prevent Economic Insecurity and An Unprecedented Medicare Part B Premium Increase for Older Americans. .Democratic leaders believe the measure could save almost half a trillion dollars if it were to pass. And while it would be much more likely to be brought up for a vote, the uncertainty about whether it could pass in the Senate remains. … Continued
Sources: Social Security Disability Insurance (DI) Trust Fund: Background and Solvency Issues, Morton, Congressional Research Service, November 20, 2013, R4331"Social Security Made .3 Billion in Improper Disability Payments," Stephen Ohlemacher, Associated Press, September 14, 201"60 Minutes: Disability USA," Steve Kroft, CBS News, October 6, 201To view this story visit: http://www.cbsnews.com/8301-18560_162-57606233/disability-usa . .As for job hunting tips, my book has a chapter called "Six Rules for Job Hunting." I discuss how to package yourself as the solution to an employer's problems, how to keep your skill set fresh and relevant, 21st Century networking techniques, and several other key strategies. .The total revenues in the sample could pay the Social Security benefits of 897 retirees, with an average monthly benefit of ,400, for an entire year. Or, that revenue could be used to provide a modest boost to the COLA of 448,560 retirees in the first year, by tying the annual inflation adjustment to the Consumer Price Index for the Elderly (CPI-E). .The absence of a Social Security cost-of living adjustment (COLA), or even an extremely low one, triggers a provision of law that, while a valuable protection of Social Security benefits, has led to several steep increases in the Medicare Part B premium over the past decade. The deep recession caused by the COVID-19 coronavirus and shortages have caused consumer prices to plunge, then rise like a roller coaster in 2020. If consumer prices remain low through September 2020, it is likely there will be an extremely low annual Social Security COLA for 2021, and this provision of law will be triggered to some extent again. .Third, the bipartisan CHANGE Act (H.R. 4957) gained one new cosponsor in Representative Ted Lieu (CA-33), bringing the total up to twenty-two. If adopted, the CHANGE Act would promote early identification of Alzheimer's disease, improve support for family caregivers, and provide continuous care for those battling many forms of dementia. .TSCL is closely watching for the introduction of proposals to strengthen Social Security and Medicare benefits and program financing. While financing issues for both programs are daunting, we believe that funding for both can be strengthened without deep benefit cuts. "Increasing benefits for all" was a key platform plank for the majority of the Representatives in the House, roughly half the Senate, and, our President elect. In coming months, TSCL plans to hold the lawmakers accountable for how they plan to turn this promise into reality for older Americans. .Under current law, the Social Security COLA is determined by the percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). This index surveys the spending patterns of younger working adults under the age of 62 and doesn't include the households of people who are retired. But older and disabled Social Security recipients allocate their budgets differently than younger working adults, spending a larger share of their income on medical and housing costs which, in many years, tend to rise faster than overall all inflation. .If signed into law, the Strengthening Social Security Act would amend title II of the Social Security Act to adjust the benefit formula, resulting in a more generous monthly Social Security benefit. It would also change the way that cost-of-living adjustments are calculated by adopting a Consumer Price Index for the Elderly, and it would lift the cap on income subject to the payroll tax. .Under current law, noncitizens who gain temporary work authorization can qualify for long-term Social Security benefits based on work that was done, prior to gaining authorization, under invalid Social Security numbers. Once they receive green cards, they become entitled to benefits based on prior "illegal" work. If elected, would you support legislation to modify this policy?