As a result of the COVID-19 economic crisis, Social Security's Average Wage Index is likely to drop in 2020. Because of how Social Security benefits are calculated, this will reduce Social Security benefits for future retirees who were born in 1960, as well as others who become eligible for Social Security in 202Affected beneficiaries would face a permanent reduction in benefits. .At Wednesday's hearing, Charles Jeszeck – Director of Education, Workforce, and Income Security at the Government Accountability Office (GAO) – unveiled the findings of a study requested by the Aging Committee's leaders back in March of 201The study examined the extent to which older Americans understand the rules that impact their future benefits when making claiming decisions, and the quality of the information provided by the agency and its field offices around the country. .One further reason for the growth is undoubtedly the growth in the primary beneficiary rolls, upon which the benefits of ANP dependents and survivors are based. According to the Inspector General, older non-citizens workers are now at the age and have worked in this country long enough to be potentially eligible to file claims for retirement or disability. The Inspector General has also said that those who worked using invalid, or non-work Social Security numbers issued prior to January 1, 2004, did not need valid work authorization in order to file a claim. Under current law the Social Security Administration uses all earnings, including those for illegal work, to determine entitlement to benefits. .Budget Moves Through Committee .Could you tell me the advantages and disadvantages of life insurance once we start Social Security? Doesn't Social Security pay widow's benefits? Do we really need life insurance if we have a (401)k and IRA savings? .So it turns out that we have an important choice to make as a country. We can continue down the current path, increase our dependence on China, and accept the risk to our survival. Or we can invest in domestic manufacturing of a minimum level of production of essential medicines to prevent a situation where our supply is severed. ."Whatever the reason, most Americans before they retire have paid little attention to the huge life transition that is coming. We don't have a good idea of how much we need to save for retirement," writes Mark Miller, journalist and author who writes about trends in retirement and aging. Mark, the author of The Hard Times Guide to Retirement Security: Practical Strategies for Money, Work and Living (John Wiley & Sons/Bloomberg Press, 2010) shares a few important tips with our readers. .However, taking this action would cause at least two difficulties for the President. Signing legislation to reduce Medicare spending on the drugs would generate official budget savings that Congress could have applied to other health-care legislation -- bills to expand insurance coverage or reduce other drug spending, for example. Executive action taken before a bill's passage would remove a key bargaining chip, and likely reduce the scope of a health-care bill expected in the coming months. .The Senior Citizens League is proud to have endorsed the BENES Act, and we hope the Senate Aging Committee will work to enact this legislation by the end of this year. To stay updated on the progress of the BENES Act, visit the Bill Tracking section of our website.