• People Born In 1960 Face Permanent Social Security Benefit Reductions

    As we begin a new year, we hope you had the best holiday season possible under the conditions we all continue to face because of the coronavirus pandemic. We know the past ten months have been extremely hard for many Americans, especially for senior citizens and their families. ."'I don't anticipate that anything gets there before Election Day,' Chief of Staff Mark Meadows told reporters Wednesday. ‘I think that was a concern that there might have been a look that this was done for a political motivation. That's not the case.'" .With about 1 million supporters, The Senior Citizens League is one of the nation's largest nonpartisan seniors groups. Located just outside Washington, D.C., its mission is to promote and assist members and supporters, to educate and alert senior citizens about their rights and freedoms as U.S. Citizens, and to protect and defend the benefits senior citizens have earned and paid for. The Senior Citizens League is a proud affiliate of TREA The Enlisted Association. Please visit or call 1-800-333-8725 for more information. … Continued

  • Category Best Ways To Save Page 7

    You might be able to avoid doing so. Coronavirus stimulus legislation (CARES Act) that was signed into law in March waives required minimum distributions (RMDs) in 2020 for anyone who owns a 401(k), 403(b), or IRA. Instead of taking money from your retirement accounts this year, retirees can wait, or take less, to give investments time to recover. That's helpful, because most RMDs are based on the value of your retirement accounts on December 31st of the previous year. .Alexandria, VEighty-nine percent of people responding to a new poll by The Senior Citizens League (TSCL) are opposed to President Obama's executive action on immigration. The poll was conducted prior to the president's announcement of executive action that would allow an estimated 4.9 million unauthorized immigrants to avoid deportation. It asked, "Should President Obama bypass Congress to halt deportations of illegal immigrants?" Only 11 percent of those responding said "yes." .Despite receiving some pointed questions at Wednesday's hearing, most Senators on the panel seemed overwhelmingly supportive of Burwell's nomination. Sen. Tom Coburn (OK) introduced her to the Finance Committee and he recommended her confirmation, saying: "When you have someone who is competent and also has a strong character, you find a way to get past your differences and try to solve your problems." In addition, in his opening remarks, Sen. Jay Rockefeller (WV) said, "We need you, Sylvia Mathews Burwell, very, very much." … Continued

But when hold harmless is triggered more widely than usual, as we expect to be the case in 2021, there is no provision of law with which to finance the unpaid portion of Medicare Part B premium increases of the roughly 43 million who are protected by the provision. In the past, Congress has chosen to allow this cost burden to shift to the 30 percent of beneficiaries who are not held harmless. Because the cost is spread over far fewer people, instead of all beneficiaries, those who are not protected by hold harmless pay a far larger share of the costs, thus the huge Part B premium jumps. .And it will not feel like a bargain if we get free or cheap vaccines during a pandemic but pay dearly for annual COVID-19 shots thereafter. .Gang of Eight Defends Immigration Reform Plan .(Washington, DC) – Although there won't be any Social Security cost – of - living adjustment (COLA) next year, many of the nation's biggest drug and health plans are sharply increasing costs, warns The Senior Citizens League (TSCL). "Outrage is growing among older voters who question how COLAs can be zero, when their healthcare costs are taking the biggest jump in seven years," says TSCL Chairman, Ed Cates. .Medicare Advantage plans offer comprehensive hospitalization, doctor, and outpatient services through selected network providers, and most also include coverage of prescription drugs. Typically, premiums for Medicare Advantage plans can be 60% less than premiums for a Medigap supplement and a prescription drug plan. Many also offer extra benefits that are not covered by Medicare, like vision or dental benefits. .Congressman Larson's bill would comprehensively reform the Social Security program by enhancing benefits and improving the solvency of the Trust Funds for decades to come. He said at Wednesday's hearing: "The Social Security 2100 Act will expand and enhance Social Security, making the program financially stable through this century and beyond. It is the only legislative proposal that expands benefits, is fully paid for, and achieves sustainable solvency as determined by the Chief Actuary of the Social Security Administration." .4 in 10 beneficiaries rely on Social Security for the majority of their income. .By way of a quick explanation, except for special circumstances, any legislation that goes through Congress has to start in the committee of jurisdiction, meaning the committee that deals with legislation pertaining to a specific subject. In the case of prescription drug legislation, those committees are Finance, Health, Education, Labor and Pensions, and Appropriations. That's one of the reasons passing this legislation is so complicated. .That's sensible, practical – and fair. It asks those who have benefited most from wealth inequality to pay their proper share of payroll taxes.