News

  • People Born In 1960 Face Permanent Social Security Benefit Reductions

    To help protect the buying power of benefits, TSCL supports legislation that would provide a modest boost in benefits, base COLAs on the Consumer Price Index for the Elderly (CPI-E) and guarantee a COLA no lower than 3 percent. To learn more, visit . .The Senior Citizens League urges lawmakers to act responsibly to keep the federal government fully funded so that essential programs like Social Security and Medicare can operate as smoothly as possible. In the days ahead, we will keep a close eye on the evolving negotiations, and we will continue to advocate for legislative solutions that would strengthen and protect your Social Security and Medicare benefits. For updates, follow us on Twitter or visit the Legislative News section of our website every Friday morning. .The savings compound over time and are huge. The Congressional Budget Office estimates that chaining the CPI would cut COLAs by 2 billion from 2012021 alone and, if used in other federal retirement programs and for indexing taxes, would reduce deficits by about 0 billion over the next decade. … Continued

  • Weekly Update For Week Ending August 28 2021

    Sources: "Distributional Effects Of Raising The Social Security Taxable Maximum," Kevin Whitman, Social Security Policy Brief, July 2009, No.2009-0Lifting the Taxable Maximum Wage, Description of Proposed Provision: E2.2, Social Security Administration Office of the Actuary. .Older Americans have lost more than 22% of their purchasing power since 2000, and this year Social Security beneficiaries received no COLA despite a national survey indicating a majority reported higher costs. Do you support legislation that would give seniors an emergency COLA before the end of this year? .The lack of growth in Social Security benefits, together with the inexorable rise in healthcare costs, is causing financial dilemmas for Medicare beneficiaries that may be jeopardizing their health. The situation is leaving both seniors and disabled adults who are living longer lives without adequate financial resources for their retirement, survey participants say. … Continued

Your responses to our annual Senior Surveys are a key means to helping us convince Congress to move forward on key issues. Please take our 2021 Senior Survey. .Here's where to go for help with these services: .Few diseases or conditions can be treated quickly, so be suspicious of any therapy claimed as a "quick fix." .Rapidly climbing prices for consumer goods and services are making financial choices for older adults especially challenging this year. But eventually, these higher prices might mean a higher Social Security cost of living adjustment (COLA) for next year. In the meantime, older consumers are struggling to figure out how to pay for. Buying Power of Social Security Benefits Wiped Out by Soaring Inflation An abrupt jump in inflation in February and March of this year wiped out a short-lived improvement in the buying power of Social Security benefits in 2020, according to TSCL's latest study on rising senior costs. The study, which compares the growth in the Social Security cost of living adjustments (COLA)s with increases in the. Are We Experiencing the Return of Inflation? , editor .Here's something hard to believe, but true. Our government is paying Social Security benefits to thousands of Mexicans who don't live in this country, or were never entitled to benefits based on their own work record. A new report from the Social Security Office of Inspector General details the growing problem of thousands of Mexicans who routinely visit the United States once a month to establish a claim to Social Security benefits. .How do I go about writing my Congressman and Senators? .The situation can be potentially dangerous for Medicare beneficiaries and their families. If you are approached or receive a call by someone offering money, free services, free groceries, free transportation or TVs for your Medicare number, say no. If you suspect fraud, Medicare has an area on its website where you can report fraud. .Sources: "Report: Social Security Numbers Active For 6.5 Million People Aged 112," Stephen Ohlemacher, Associated Press, March 14, 201"Man Impersonates Dead Mother To Collect 5,000 In Social Security, Rent Subsidies," New York Daily News, June 17, 2009. .Advocates who help retirees enroll in these programs say that, even if your income is slightly above the eligibility limits, you might still qualify because certain types of income and assets may not be counted.