Near the end of the hearing, the focus finally shifted to options for fixing the financing shortfall. Charles Blahous and Robert Reischauer offered some suggestions. Mr. Blahous recommended that Congress gradually raise the age of retirement to seventy, that they reduce benefits progressively by modifying the benefit formula, and that they offer more incentives for workers who delay their retirement. Mr. Reischauer offered similar suggestions, but added that he would like to see the taxable maximum raised to cover 90% of wages. .The average retired worker receives just ,500 year in Social Security benefits. .The President's order halts the collection of payroll taxes from Sept. 1 through the end of the year. In addition, he instructed the Treasury Department to look into how the government can forgive the deferred tax payment permanently because as things stand right now the taxes must be repaid after the first of the year. .Their bill would address the administrative funding challenges that the Social Security Administration has been facing for several years. Since 2010, the Social Security Administration's budget has declined by 9 percent, resulting in a loss of 10,000 employees and the closure of more than 10 percent of all field offices nationwide. At the same time, the number of Social Security beneficiaries has increased dramatically by 15 percent since 2010. .The period covered by the Notch is a major area of dispute. When benefits are represented on a chart, the disparity forms a deep "V" notch. Benefits plunged from a peak for retirees born in 1916 and hit the lowest part of the "V" for those who were born in the years 1920-2Benefits began to rise for those born in 1922 until they became level with other retirees, starting with those born in 192See illustration below. .Enrolled in Medicare Advantage? ,700 in Benefit Cuts by 2017 Predicted .SSI is a federal program that provides monthly benefit payments to people age 65 or older, who are blind or have a disability and who have little or no income and resources. People who receive SSI are also eligible to receive food stamps and Medicaid. .This situation is only for 30 months though. Once you turn age 66 you can earn as much as you want without reduction to your Social Security benefits. Meanwhile you continue to work and delay your retirement benefit allowing it to grow. Once you reach age 70 you should go ahead and switch to your own larger retirement benefit, since it won't grow any larger. .Require new deductibles and cost-sharing while limiting what Medigap plans could cover. Because Medicare doesn't cover all of the costs, seniors purchase supplemental coverage, known as "Medigap," to cover deductibles, and co-insurance. A proposal from President Obama's Fiscal Commission would impose a new deductible of 0 and new cost-sharing. Then, it would restrict what Medigap plans could cover, adding up to ,000 in new out-of-pocket costs that the more comprehensive Medigap plans cover now.