Despite Today’s 2007 Cost of Living Adjustment (COLA) Announcement, Many Seniors Will Receive Smaller Social Security Checks Next Year For The First Time
October 18, 2006 (Washington, DC) – Earlier today, the Social Security Administration announced that the Cost of Living Adjustment (COLA) for 2007 would be 3.3 percent. That increase means that the average senior with a benefit of $1,011 will see a bump of $33 per month beginning in January.
But for the first time in history, many seniors will actually see a reduction in their Social Security checks due to a little-known provision that was originally created to protect a person’s Social Security benefits from being reduced due to increases in Medicare premiums. Read the full press release.
Press Release
August 1, 2006 (Washington, DC) – Social Security Cost of Living Adjustment Voted Most Important Issue Facing Seniors in Scientific Poll: Poll Ranks COLA Higher Than Medicare, Overall Social Security Reform
Read our Op-Ed
"The Social Security Cost of Living Increase is Not Keeping Up" by TREA Senior Citizens League Chairman Ralph McCutchen has already been read by hundreds of thousands of people in dozens of newspapers across the United States.
In The News
See how our op-ed originally looked and some of the places it's appeared.
COLA Cuts Cited As One of Three Options to Cut Social Security
Some politicians think the way to cut Social Security costs is to slash Cost of Living Adjustments for the elderly. We couldn't disagree more.
Does Your Member of Congress Support a Fair COLA?
If you're a retiree, you've probably noticed that the COLA is not protecting your spending power. A proposal in Congress would have the COLA determined by an index called the Consumer Price Index for the Elderly (CPI-E) instead of one that reflects the spending habits of younger workers. Is your member of Congress one of the more than 100 that has already announced support for this critical bill?
Sign a Petition
Tell your members of Congress that you expect your Social Security Cost of Living Adjustment to reflect the real costs of inflation by signing a petition that will go directly to your members of Congress. Just fill out a quick form, and our software will do the hard work for you.
Join TREA Senior Citizens League
Help TREA Senior Citizens League protect and defend the benefits senior citizens have earned and paid for. Become part of one of the nation's largest nonpartisan groups working for seniors!
July 2006