News

  • Legislative Update November 2010 Advisor

    Earnings reports with incorrect or incomplete information have been a long–standing problem. They can be caused by something as simple as a transposed Social Security number, or a name change when a woman gets married or divorced. Accurate earnings are critical in order to calculate benefits for workers and their dependents. The most recent data indicates there has been a significant jump in both the number of these mismatched reports and the value of wages. SSA Inspector General Patrick P. O'Carroll stated in testimony before Congress that "we believe the chief cause of wage items being posted to the [earnings suspense file] instead of an individual's earnings record is unauthorized work by noncitizens."(8) .This week, four new cosponsors signed on to Congressman John Garamendi's (CA-3) bipartisan Consumer Price Index for Elderly Consumers (CPI-E) Act (H.R. 1251), which would base the Social Security cost-of-living adjustment (COLA) on a more fair and adequate inflation index if adopted. The new cosponsors are Congressmen Marc Veasey (TX-33), Gregorio Kilili Camacho Sablan (MP), Vincente Gonzalez (TX-15), and Andre Carson (IN-7). The cosponsor total for H.R. 1251 is now up to forty-three. .Even under the most optimistic economic projections, the fund could run out of money by 2034, the report said. … Continued

  • Issues Notch Track Bills

    Thousands of nursing homes across the country have not been checked to see if staff are following proper procedures to prevent coronavirus transmission, a form of community spread that is responsible for more than a quarter of the nation's Covid-19 fatalities. .If adopted, the Ways and Means Committee's tax bill would consolidate the existing individual tax brackets, phase in a repeal of the estate tax, and permanently reduce the corporate tax rate, among many other provisions. The bill does not include reductions to the limits on 401(k) contributions as many – including TSCL – expected. It would keep the current limits on 401(k) contributions unchanged at ,000 per year (or ,000 for those over the age of fifty). .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. … Continued

This week, The Senior Citizens League was pleased to see support grow for three important bills that would strengthen the Social Security program if signed into law. ."We are here today because of COVID, and its consequences. Consequences that have worsened the inadequacies that have existed for a long time in our Social Security system. .In July of 2011, the Department of Health and Human Services proposed a rule under the Patient Protection and Affordable Care Act regarding risk adjustment. Under this rule, the Federal Government is requiring health insurers to provide confidential and detailed medical information about a person. Aside from the fact that this is an invasion of privacy, we must also remember the Federal Government's lack of accountability with health records when over 5 million TRICARE records were stolen from the car of a government contractor this past fall. .Despite tightening the law, Congress did not fix a policy loophole that would be inadvertently triggered with the passage of comprehensive immigration reform legislation. When determining entitlement for insured status, and when calculating the initial retirement benefit, the Social Security Administration (SSA) uses all reported earnings from covered employment in the United States, even if the earnings were from illegal or "unauthorized" work. (2) .TSCL is working for the re-introduction of the Notch Fairness Act. This legislation would allow Notch Babies born from 1917 through 1926, or survivors who receive benefits on a Notch Baby's account, to choose a lump sum of ,000 payable in four annual installments of ,250, or an improved monthly benefit. .Insurance Industry Predicts Premium Increase .If adopted, it would provide beneficiaries with a 2 percent benefit boost, base cost-of-living adjustments on the more accurate Consumer Price Index for the Elderly, create a new minimum benefit set at 125 percent of the poverty line, and eliminate taxes on Social Security benefits for millions of seniors. It would also extend the solvency of the program through the year 2100 without cutting benefits for current or future retirees. .And it will not feel like a bargain if we get free or cheap vaccines during a pandemic but pay dearly for annual COVID-19 shots thereafter. .Guarantee a minimum COLA of no less than 3 percent.