News

  • Benefit Bulletin March 2015

    TSCL believes COLAs need to be more fairly and accurately calculated, and strongly supports recently introduced legislation that would provide an emergency COLA. To learn more, visit . .As a proud affiliate of TREThe Enlisted Association, and because many of TSCL supporters are military retirees we keep a close eye on the health benefits of military retirees. .My husband recently lost his job in a company re-organization. I was getting my healthcare benefits through his employer. He is 64 and I'm 6I'm still working, but coverage through my employer is much higher than we paid previously. Can you explain our options at this point? Neither one of us has started Social Security. … Continued

  • Legislative Update For The Week Ending July 8 2011

    You are asking yourself the right questions. Many people buy life insurance to replace the income that would be lost when the policyholder dies and no longer is paid a salary. Once you stop working, most of your income is likely to come from retirement savings, pensions, annuities, and Social Security, which pays survivors benefits, if you or a spouse dies. There can be special needs, however, and for some retirees, life insurance may make sense. Here are a few major considerations: .The Senior Citizens League is encouraging Congress to take the opportunity now to strengthen Social Security by beefing up the amount of earnings subject to payroll taxes, a tax provision that has widespread public support. The Senior Citizens League is delivering a letter to Congress this week calling for three tax reforms that would strengthen Social Security and provide relief to millions of older Americans. Those reforms include: .Do you think Social Security's funding should be strengthened? Consider attending a local town hall in your area. Sign up to ask questions, or approach a staffer of your Member of Congress to relay your ideas. Together, we can make the case that better retirement security can't be achieved through cutting the benefits that more than 61 million people depend on, but rather by everyone paying their fair share during their working years. … Continued

Although not many studies exist, according to one study of average earners born from 1917 through 1926, the disparity in benefits with other retirees seems to average about 26%. .The order covers certain medical supplies that are deemed essential, as well. .The money that is withheld due to excess earnings is not completely lost. Once you reach full retirement age, the Social Security Administration will recalculate your benefits so that over time you can recover what was withheld. To learn more about getting Social Security benefits while working, visit: https://www.ssa.gov/planners/retire/whileworking.html. .To remedy this problem, TSCL supports Social Security "caregiving credits." These credits would be applied to a worker's Social Security earnings record to make up for years when people took time out of their working careers, and earned little or zero income, because they were caring for children, spouses, or older family members. .Managing the cost of pet care grows more emotionally and financially challenging as we and our pets age. The cost of care often sets up ethical dilemmas, especially for older adults facing unfunded gaps in retirement income. .The announcement comes as the Super-Committee members consider how much savings should come from tax cuts versus spending cuts. If the committee cannot come to an agreement by the November 23rd deadline, across-the-board budget cuts will occur. .Lowering drug prices is one of the highest priorities of TSCL and we will be working very hard to get legislation passed this year. ."The proposal would apply to both Medicare Part B and Part D drugs, an expansion from an earlier version of the order. The order would apply to Part D drugs where ‘insufficient competition exists.'" .Surveys show a majority of Americans would like to see an increase in the Social Security payroll tax, but a new tax reform proposal would eliminate the 12.4 percent payroll tax altogether. This would end Social Security as we know it and transform it into a welfare program for older Americans. Do you support this drastic new proposal?