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    Second, the Social Security 2100 Act (H.R. 1902) gained one new cosponsor in Representative Jimmy Gomez (CA-34), bringing the cosponsor total to 16If signed into law, H.R. 1902 would strengthen Social Security benefits by improving the cost-of-living adjustment (COLA), increasing monthly benefits by 2 percent, creating a new Special Minimum Benefit equal to 125% of the poverty line, providing a tax cut to Social Security beneficiaries, applying the payroll tax to annual income over 0,000, and gradually increasing the payroll tax rate by 0.25%. .Your required minimum distribution (RMD) is the minimum amount that you must withdraw from retirement accounts each year. Failure to do so by your deadline can result in a penalty equal to 50% of the required amount not withdrawn. .The Senior Citizens League (TSCL) will be monitoring CR discussions in the Senate in the coming hours and days, and we will post updates on Facebook and Twitter. In addition, we will continue to monitor ongoing budget discussions since they are expected to include plans to repeal the Affordable Care Act. As was noted in a recent legislation update, repealing the law would impact the Medicare program in several ways. For instance, progress that has been made to close the prescription drug "doughnut hole" would be reversed, and the Hospital Insurance Trust Fund that finances Medicare Part A would lose an important stream of funding that the law created. The Trust Fund could face immediate depletion if eliminated. … Continued

  • Best Ways Save Septemberoctober 2016

    With so many grandparents becoming more involved in the day – to - day care of their grandchildren you may learn that you qualify for other programs that can reduce healthcare, food, and other expenses. We recommend that you take time to try the National Council on Aging's online "BenefitsCheckUp" screening tool to learn about benefit programs in your area. .First, one new cosponsor, Representative Dean Phillips (MN-3), signed on to Congressman Larson's Social Security 2100 Act (H.R. 860), bringing the total up to 20If adopted, this critical bill would strengthen and reform the Social Security program responsibly, without enacting benefit cuts for current or future retirees. It would also cut taxes for millions of seniors and create a new Special Minimum Benefit set at 125 percent of the poverty line. .TSCL recently sent a letter to every office in Congress calling for enactment of legislation that would provide an emergency COLA, would prevent an anticipated Medicare Part B premium and deductible spike of more than 22%, as well as legislation that would result in a more fair and accurate COLA using the CPI-E in the future. … Continued

The online survey, taken by 401 participants, was conducted in June and early July 2020. Here are some key findings: .With respect to security: When The Senior Citizens League transfers and receives certain types of sensitive information such as financial or health information, we redirect visitors to a secure server and will notify visitors through a pop-up screen on our site. .We have a deep moral obligation to ensure our seniors receive quality, affordable healthcare. We have an equal obligation to our children to pass on an America rich in opportunity and free from the bonds of debt. That is why resolving this problem is one of my top priorities. .Why You Should Beware When The Doctor Wants To Hold You For "Observation" .Eliminating income taxes on Social Security benefits. Millions of middle-income Social Security recipients currently pay income taxes on a portion of their Social Security benefits. According to a recent survey of TSCL's members, 56 percent of older households pay taxes on their benefits, and that number is projected to rise in the coming years. Eliminating this income tax would provide millions of middle-income beneficiaries with much-needed tax relief. .Even though flying is a relatively low-risk activity, traveling should still be avoided unless absolutely necessary. .Economists are saying that cost-of-living adjustments (COLAs) overpay seniors and that recipients don't need so much money to maintain their standard of living. Cuts to annual cost-of-living adjustments (COLA) are a key provision of the deficit reduction plans on Capitol Hill, and TSCL is fighting the plans that would cut the benefits of more than 60 million beneficiaries. .The Chairman of the House Armed Services Committee, Adam Smith (D-Wash.) has announced that if the bill is vetoed the House will come back into session over the holidays and vote to override. .The financial impact of six years of low COLAs isn't immediately apparent to the average person, but "It's a big one, " Cates says. A new analysis for TSCL that compared the increases from 2010 through 2015 against the prior 3% average found that, altogether, the benefits of the typical Social Security recipient will be about ,298 lower by the end of 201In 2015 the average monthly Social Security benefit will be about 3 lower, and ,356 less for the year.