News

  • Best Ways To Save February 2013

    At Wednesday's hearing, key witnesses made several recommendations for improving the process. Sita Nataraj Slavov – Professor of Public Policy at George Mason University – suggested that SSA stop using the term "retirement age" since it suggests that individuals should claim benefits immediately after they stop working. She also recommended that SSA begin referring to age 70 as the "full" retirement age since it is the age at which benefits are the highest. In addition, William Meyer of Social Security Solutions, Inc. suggested that SSA notify individuals of the annual difference in benefits they would receive if they delayed filing for one year. .For more information about these and other TSCL-backed bills, visit the Bill Tracking section of our website. To follow The Senior Citizens League's work on Capitol Hill, follow us on Twitter. .The abrupt and severe contraction in the U.S. economy caused by the coronavirus has far-reaching consequences for Social Security. Twenty million workers filed claims for unemployment between March 15, 2020 and April 17, 2020, a level that has not been seen since the Great Depression. Both the wide-scale shutdowns and layoffs, as well as provisions of the coronavirus CARES Act stimulus legislation significantly reduce the anticipated amount of payroll taxes flowing into Social Security this year. … Continued

  • Legislative Update Week Ending April 24 2015

    TSCL strongly supports quick passage of the urgently needed legislation to stop the cuts. .It would have to report to Congress every two years on regulatory and financial developments that affect older investors. Reports would have to include recommendations for possible regulatory or legislative action. .TSCL opposes the payment of Social Security and Medicare benefits that are based on illegal work, and supports legislation that would ban Social Security work credits based on unauthorized earnings from being used to determine entitlement. … Continued

To help you sort things out, TSCL strongly recommends that you get free one-on-one Medicare counseling through your state health insurance assistance program (SHIP). Many of the programs operate through area agencies on aging, local departments of senior services or senior centers. You can also get more information online at www.Medicare.gov or call 1-800-Medicare ( 7). .Social Security's "full" retirement age is the age at which you qualify for full, un-reduced benefits. It's based on your date of birth, so it varies for everyone. In 1983, Congress enacted changes that very gradually raised the full retirement age to age 67 by the year 202The full retirement age for people born between 1943 and 1954 is 6For those born in 1955 it is 66 and 2 months and it goes up 2 months per year for those born between 1956 and 195For people born in 1960 and thereafter, the full retirement age is 67. .Still, COLA cuts remain a key proposal of major debt reduction plans. In his budget last year, President Obama proposed changing the way COLAs are calculated by using a more slowly-growing measure of inflation, known as the "chained" CPI. "If our nation is going to correct income inequality, it should start with payroll taxes," Cates says. "Under current law, millionaires pay no Social Security taxes at all on earnings over 7,000, while average workers pay Social Security taxes on every dime they earn," Cates points out. "Cutting the benefits of financially vulnerable seniors and others can't be justified when millionaires are getting a multibillion dollar tax break," Cates asserts. "TSCL urges President Obama NOT to use Social Security COLAs to cut the debt," he adds. .This week, after receiving countless complains from seniors without cell phone access, the Social Security Administration removed the text requirement from the online account login process. In addition, lawmakers continued their seven-week congressional recess. .Progress Report: Getting Congress On Board For Key Senior Issues .A surviving beneficiary spouse is one who collects Social Security benefits not from their own account, but from the account of his or her deceased spouse. To find out more about Notch Reform benefits for surviving beneficiaries, click here: What Happens to Benefit Payments When Your Spouse is Deceased? .At the time of writing this update on Friday morning, the vote had not yet occurred. It is expected to take place on Friday afternoon, before the non-partisan Congressional Budget Office has a chance to evaluate the final version. It remains unclear whether or not the AHCA will gain the support needed to win passage. If adopted, the AHCA will move to the Senate, where its future remains even more uncertain. If it fails, Republican leaders on Capitol Hill have said they will move on to other legislative priorities, like tax reform. .Recent vaccines targeting more limited populations, such as a meningitis B vaccine for college students and the shingles vaccine for older adults, have a retail cost of 0 to 0 for a full course. .The following Members of Congress, among others, will hold town halls this week: Sen. Michael Crapo (ID), Sen. Jerry Moran (KS), Sen. Mike Lee (UT), Rep. Frank Lucas (OK-3), Rep. Eleanor Holmes Norton (DC), and Rep. Donna Edwards (MD-4).