News

  • National Seniors Group Announces Three Social Security Proposals It Supports Three It Opposes

    Money for Life: Turn Your IRA and 401(k) Into a Lifetime Retirement Paycheck, Steve Vernon, September 2012. .A minimal source of supplemental benefits for seniors with extremely low benefits (Supplemental Security Income, or SSI). .No. Your understanding is correct, although there are circumstances that might explain the income. The Social Security Disability Insurance (SSDI) program's rules generally restrict beneficiaries from working and earning substantial amounts while they are receiving benefits. When beneficiaries first return to work, however, they can earn an unlimited amount for 12 months without losing their benefits under "trial work period" rules. Thereafter they can earn a specified limit, ,480 in 2013, before their benefits are eliminated. … Continued

  • Public Opinion Can Sway Votes In Congress 2

    This week, five new cosponsors signed on to the Social Security Fairness Act (S. 896 and H.R. 1795), bringing the total up to thirteen in the Senate and ninety-two in the House. The new cosponsors are Sen. Jeff Merkley (OR) and Reps. Charles Boustany, Jr. (LA-3), Thomas Massie (KY-4), Bill Shuster (PA-9), and Barbara Lee (CA-13). If signed into law, H.R. 1795 would repeal two provisions of the Social Security Act that unfairly reduce the earned benefits of millions of state and local government employees each year. The provisions – the Windfall Elimination Provision and the Government Pension Offset – prevent dedicated public servants from receiving the retirement security they have earned. .No further information about the bill is available at this point but as soon as it is TSCL will review it to determine whether we will support it. .We could, too, but would need to consider mechanisms outside of our current box — at least for this national emergency. … Continued

Will Our New Congress Pass a Benefit Boost? .According to the Social Security Handbook, when Social Security decides an overpayment has been made, a written notice will be sent to the overpaid individual or the legal representative (such as guardians or estates), if any. People other than the beneficiary can be liable for overpayments if they are entitled to benefits on the same earnings record, like widows, divorced widows, spouses, divorced spouses, and children. .Although some people argue that the Congressional investigation against AARP was politically motivated, there is no escaping the fact that AARP's revenues from royalties – mostly from insurance sales – are more than two and half times higher than its membership dues (as of 2009). .The new Antimicrobial Action Fund will look to buy or invest in small antibiotic companies and their products and will work with the World Health Organization and the European Investment Bank to identify promising prospects. The fund is expected to start operations by the end of the year and hopes to bring to market at least two to four novel antibiotics by 2030. .TSCL surveys confirm that costs for older Americans continued to climb despite no COLA this year. A recent TSCL survey found that 72 percent of respondents reported that their monthly household expenses rose by more than in 2015. .Legislation passed in 1983 required all Members of Congress to pay into Social Security. That said, like all high-income workers, they only pay Social Security up to the maximum taxable wage, which in 2012 is 0,100. Thus Members of Congress pay no Social Security taxes on the additional ,900 they receive as salary. Since Members of Congress are high-income earners, they are also in line for the maximum tax break due to the payroll tax cut extension. The payroll tax rate has temporarily been cut by 2%, meaning Members of Congress will save ,002 in 2012. .VA officials are talking to other agencies about expanding the availability of vaccines at VA facilities, Richard Stone, acting under secretary for health at the Veterans Health Administration, said. Limited supply has forced the department to prioritize veterans who are currently enrolled to receive vaccines, though in some cases they have managed to immediately enroll eligible veterans on the spot, Stone said. .Because just one Senator can stall legislation through what is known as a filibuster, it takes 60 votes to pass any bill unless it is through a process called "reconciliation," which then requires only a simple majority of 51. ."The Medicare Trustees already estimate that Medicare Part B and Part D premiums and out-of-pocket costs take about 27 percent of average Social Security benefits," states TSCL Chairman, Larry Hyland. "And that understates actual costs because it doesn't include what people pay for their supplements or Medicare Advantage plans," he notes. "These proposals simply shift a greater portion and more risk to seniors, making Medicare even less affordable for low- and middle-income beneficiaries," Hyland says. "We urge seniors to contact their lawmakers in Congress and let them know what you think of these ideas to cut the deficit," he adds. TSCL lobbies to keep Medicare affordable and protect seniors from cuts to Social Security benefits and reductions to the COLA. In addition TSCL supports legislation to provide a more fair and adequate COLA.