News

  • Legislative Update For The Week Ending October 14 2011

    Not necessarily. According to a new audit report by the Social Security Administration's Office of Inspector General, more than 26,000 beneficiaries receiving spousal benefits may be eligible for a higher retirement benefit based on their own earnings, but are not receiving them. Although the Social Security Administration sends notices to widows and widowers who may be eligible for a higher retirement benefit based on their own earnings at full retirement age, and age 70, it does not provide similar notices to spouses who may also be eligible for higher retirement benefits based on their own earnings. ., Editor .Why ban the use of earnings from unauthorized work to determine Social Security benefits? Under current law Social Security uses all earnings to calculate Social Security benefits. That means earnings of unauthorized immigrants from jobs worked under invalid and fraudulent Social Security numbers (SSN) can be used both to qualify for benefits and for the calculation of the initial retirement benefit. There is no official published data on the amount of wages on file attributable to aliens working without authorization, but the Social Security Administration maintains an earnings suspense file that represents an estimated 3.5 billion in wages from 2000 through 2010[2], most of it believed to be attributable to illegal workers. Under immigration reform, that could mean a huge new liability for Social Security in the future, triggering more rounds of cuts and higher taxes. … Continued

  • Legislative Update For Week Ending July 5 2013

    Social Security beneficiaries received a 2% cost-of-living adjustment (COLA) this year, but most have seen their benefit increases completely offset by higher Medicare Part B premiums. Do you support legislation that would give older Americans a more fair and adequate Social Security COLA? .Actuaries aren't in agreement over how many more years of solvency Social Security has left. The 2018 Social Security Trustees Report estimates that the Social Security Trust Fund will become insolvent in 2034, about 15 years from now. The more pessimistic Congressional Budget Office (CBO) estimates the depletion date would be two years sooner in 2032, only 13 years away. If Congress does nothing, and allows the Social Security Trust Fund to become insolvent, the program could still pay benefits, but benefits would be cut to coincide with the amount of revenue received — by about 25%. .To make the COLA more fair and accurate, TSCL believes that Congress must fully implement the CPI-E, and use it to provide a more realistic annual benefit boost. We support a number of bills before Congress that would do just that, including the CPI-E Act (H.R. 1030), the Guaranteed 3% COLA Act (H.R. 1585), the CPI for Seniors Act (H.R. 2154), and the Social Security Guarantee Act (H.R. 1275). Each of them would go a long way in ensuring that seniors receive the retirement security they deserve. … Continued

However, current benefits, as we will learn today, are inadequate, unfair, and in many cases discriminatory, because of systemic economic inequities. .TSCL enthusiastically supports H.R. 1391 since it would strengthen the program without cutting benefits for seniors. We were pleased to see support grow for it this week. .If your prescription drug costs are outgrowing your ability to pay for your medicine, look into Medicare's "Extra Help" program. The program helps pay for some, or most, of the costs of Medicare prescription drug coverage, depending on income. In addition, there's no doughnut hole coverage gap that leaves you footing the bill for a larger share of the co-insurance, there's no late enrollment penalty, and you have the chance to switch plans at any time. According to the 2018 Medicare & You Handbook, drug costs in 2018 for people who qualify will be no more than .35 for generics and .35 for brand-name drugs. .Social Security Notch Reform – Work towards benefit equality for Notch victims. .Because you are over 65, you are subject to Medicare's Special Enrollment Period rules that apply to the loss of health insurance coverage through you or your spouse's former employer. You need to enroll in Medicare Part B during the 8-month period that begins the month after your husband's employment ends or the employer health coverage ends, whichever happens first. Coverage under COBRA, however, would NOT be more than a temporary option for you because you would NOT be eligible for a Special Enrollment Period when that coverage ends, so don't wait to enroll in Medicare. You have 8 months to sign up for Part B and Part D without penalty, starting after the loss of your husband's job. .As our nation goes through the process of getting vaccinated for COVID-19 and getting our lives back on track, TSCL is working on a number of long-term issues that await Congressional attention. We expect policy makers in Congress will be turning their attention to the question of boosting benefits and restoring the long-term solvency of the Medicare and Social Security Trust Funds. .The Senior Citizens League enthusiastically supports S. 2554, H.R. 1251, and H.R. 4704, and we will continue to advocate for their passage in the months ahead. For more information, visit the Bill Tracking section of our website. .At the hearing, much of the focus was on the current state of the Social Security Trust Fund. Most Members of the Subcommittee, including Chairman Sam Johnson (TX-3), seemed to agree that Social Security is on the fast track towards insolvency, but Ranking Member Xavier Becerra (CA-31) was adamant that the program is on solid footing. .Why raise the maximum? In 1993 the taxable maximum was eliminated for Medicare payroll taxes. Yet currently, workers who earn more than 3,700 pay no Social Security taxes at all on earnings over that amount. "That includes every Member of Congress and President Obama," notes TSCL Chairman Larry Hyland. The "tax max" increases annually by the growth in national average wages