"If Congress adopts the more slowly-growing ?chained? CPI to calculate COLAs, that would cut the growth in average benefits, about ,100 per month today, by about ,742 over a 25-year retirement," states Larry Hyland, Chairman of TSCL. The benefit reductions compound over time, hitting the oldest the hardest. "By the time age 62 retirees with average benefits today reach age 84, their monthly benefits would be about 8 lower than they would receive using the current COLA methodology," Hyland says. .Do you have a low benefit and think you may be affected by hold harmless? TSCL would like to hear from you! Contact us at . .The Senior Citizens League was pleased to see support grow for these three bills this week, and we thank the new cosponsors for their support. In the months ahead, we will continue to advocate for the passage of the Social Security Fairness Act, the Social Security 2100 Act, and the Fair COLA for Seniors Act, and we urge Congress to enact them this year. .2014 Annual Survey of Senior Costs, Mary Johnson, The Senior Citizens League, March 2014. .It remains to be seen whether or not lawmakers in the Senate will reach an agreement before the midnight deadline. If not, the federal government will shut down like it did back in 201While not likely, an extended government shutdown could result in negative impacts for Social Security beneficiaries and doctors who treat Medicare patients. .(Washington, DC) The portion of Social Security benefits that retirees spent on Medicare premiums and out-of-pocket costs climbed in 2018 for a growing number of retirees in 2018, according to a recent survey by The Senior Citizens League. About 30 percent of retirees say that premiums and out-of-pocket spending consumed one-third to one-half of their Social Security benefits. The findings represent a 7 percent jump from the 23 percent of retirees reporting healthcare costs took this portion of Social Security in 2017. .TSCL Announces Support for New Bill .In setting prices, drug makers rarely acknowledge the considerable federal funding and research that have helped develop their products; they have not offered taxpayer-investors financial payback. .Although home health workers are one of the fastest-growing segments of the labor market, they typically earn about ,000 per year, often without benefits.