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  • How Much Income Do Retirees Actually Have Is It Enough

    This year, more than 50 percent of Social Security beneficiaries paid taxes on their benefits, even though many of them only made little more than twice the federal poverty level in income. Do you believe this is fair and, if not, what should be done about it? .President Trump has said all week that he will not agree to pass further stimulus measures to combat the economic fallout of the coronavirus outbreak without a payroll tax cut. Trump has been advocating for a payroll tax cut since last summer, even before the pandemic, but it is opposed by most congressional Democrats and it is not clear the idea has much support among Republicans in Congress. Obviously, a payroll tax cut would have no benefit for Americans put out of work in the wake of the outbreak until they return to employment. .Congress Still Can't Get Its Work Done … Continued

  • Ask The Advisor Aprilmay 2013

    This week, TSCL's Board of Trustees traveled to Washington, D.C. for its first meeting of 201The Board of Trustees includes the following members: Edward Cates, Chairman; Charlie Flowers, Vice-Chairman; Arthur Cooper, Secretary; Deborah Oelschig, Treasurer; Michael Gales, PAC Treasurer; and Larry Hyland, Liaison and President of TREThe Enlisted Association. .This week, the Social Security Administration announced the 2019 cost-of-living adjustment, and President Donald Trump signed into law legislation that will result in lower out-of-pocket prescription drug costs at pharmacies. In addition, The Senior Citizens League saw in Congress. .In the Senate, Finance Committee Chairman Chuck Grassley (IA) has also prioritized this critical issue. His first hearing as chairman was titled "Drug Pricing in AmericA Prescription for Change" and, in his opening statement, he vowed to get to the bottom of the growing problem. Following that hearing in January, Chairman Grassley called upon seven of the most profitable pharmaceutical companies to testify before the committee, saying: "Patients and taxpayers deserve to hear from leaders in the industry about what's behind this unsustainable trend." … Continued

Key Bills Gain New Cosponsors .What do you think of these proposals? TSCL wants to hear from you! Please take TSCL's 2017 Senior Survey. .What Kind Of Health Insurance Do Members of Congress Get? .The Social Security Subcommittee of the House Committee on Ways and Means held a hearing to discuss the problems facing seniors and the vital roll Social Security plays in the well-being of America's seniors. ."This year's zero COLA combined with next year's insufficient increase will have a devastating impact on the long term adequacy of Social Security benefits for millions of Americans … we hope that you will act swiftly and responsibly before the end of this year," the letter stated. .According to the Congressional Research Service (CRS), for an age 65 retiree with average wages, a maximum benefit disparity of 10% would have arisen between the highest benefit under the old rules and the lowest benefit under the new rules if the 1977 assumptions had materialized. Under the economic conditions that actually arose, the disparity was 25%-two and one half times greater. .Because there was no waiver in the Covid relief bill, new legislation to waive the mandatory cuts is needed. Congress passed a similar waiver for Republicans' 2017 tax overhaul, which was passed in the same manner as the Covid-19 relief bill. .To shop and switch to a new Medicare Advantage health plan, visit www.Medicare.gov and click on the link to "Find health and drug plans." View the videos supplied to help you learn how to use the tool. If you feel you need more help, free one-on-one counseling is available through State Health Insurance Assistance Programs (SHIP) that operate through many local area agencies on aging. To find the agency in your area, try the Eldercare Locator at 1-800-677-111To learn more about Medicare, visit MedicareInteractive.org, an online tool that can answer your Medicare questions, created and maintained by the Medicare Rights Center. .However, right now there is no guarantee Republicans would do that, and instead, it is probable they would blame the Medicare cuts on the Democrats.