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    In his testimony, Mr. Goss explained that the Social Security DI Trust Fund will be fully solvent until 2032 – four years later than was projected in last year's report. In addition, the OASI Trust Fund will be fully solvent until late 2034 – just a few months earlier than was projected in last year's report. For the combined Trust Funds, the outlook is very similar to last year's and only minor changes will be needed to ensure the program's solvency. .Therefore, they are considering using the "reconciliation" process because they would only need 51 votes. But if they do that, legislation passed over ten years ago dictates that they must either raise taxes or cut spending on current programs to pay for the new spending in the President's bill. .What Happened To My Higher Retirement Benefit? … Continued

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    In a letter of endorsement, Art Cooper – Chairman of The Senior Citizens League's Board of Trustees – wrote: "TSCL salutes you for introducing legislation that would make COLAs more accurate, reduce senior poverty by boosting monthly benefits, cut taxes for millions of beneficiaries, and ask wealthier Americans to contribute to the program more fairly. Together, these changes would strengthen Social Security benefits while extending the solvency of the trust funds for decades to come." .Lawmakers Avert Government Shutdown .Finally, one new cosponsor – Senator Richard Blumenthal (CT) – signed on to the Medicare Drug Price Negotiation Act (S. 99), bringing the cosponsor total up to eight. If adopted, this bill would require the Secretary of Health and Human Services to negotiate lower prescription drug prices on behalf of Medicare Part D beneficiaries. … Continued

Discussion of these meetings centered around the Social Security issues of Notch Fairness and Cost of Living Adjustment (COLA) bills. The goal of these meetings was to secure support, or sponsorship, for these pre-existing pieces of legislation. As a result of our meetings, two Representatives to date have pledged their support for the Notch Fairness Act (H.R. 1001): Jesse Jackson, Jr. (IL-2), and Christopher Smith (NJ-4). .Legislation before the House and Senate would repeal the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) so that public servants receive the Social Security benefits they have earned and deserve. Will you cosponsor the Social Security Fairness Act (S. 521, H.R. 141) when you return to Washington? .We will update you whenever we have additional information. .In recent years, inflation and COLAs have been virtually flat, averaging just 1.1% per year since 2010 — with no COLA at all in 2016 and just a 0.3% COLA in 201Slow growth in Social Security benefits, particularly when it continues over a period as long as 8 years, has a very significant impact on the overall amount of lifetime income that retirees can expect from Social Security. When retiree costs climb while benefits remain flat, people wind up having to dig more deeply into retirement savings (if they have any), spending more quickly than anticipated. Many people without other pensions or savings are forced into debt. About one in four low-income older Americans is dependent on programs that provide assistance with essentials like food and healthcare costs. .It is anticipated that one of the orders will be to shift drug and medical production to this country by suddenly cutting off federal agencies from those offshore supply chains. .Before doing anything else make sure you have a realistic budget, and think long term. You want your income and savings to be adequate as long as possible, 30 years or even longer is not unrealistic for someone your age. In developing a budget, look back over at least three years to include large expenditures for periodic home maintenance and repairs, transportation, medical costs and other large costs. Include what you pay in taxes. Once you get an expense figure, allow for at least 3% per year for inflation. Then tally up your income and assets, including the value and expected income from retirement accounts and pensions, if any. .However, right now there is no guarantee Republicans would do that, and instead, it is probable they would blame the Medicare cuts on the Democrats. .4 in 10 beneficiaries rely on Social Security for the majority of their income. .Your daughter is giving you good advice. It is time to sign up for Medicare. If you are still working, and you aren't yet getting Social Security, then you won't get Medicare automatically, and you need to apply by your Initial Enrollment deadline. It's important to pay attention to Medicare's enrollment deadlines in order to avoid permanent late enrollment penalties or a lapse in your health insurance coverage, but there is excellent free unbiased help available to steer you through this, as near as your local agency on aging or senior center.