News

  • Q July 2016

    According to a survey by The Senior Citizens League (TSCL), 70% of older Americans think Social Security's solvency should be improved by scrapping the Social Security taxable wage limit of 8,500. .In 1977 Congress enacted changes to the Social Security benefit formula that affected seniors just two years from first entitlement to Social Security. A transitional formula supplied by Congress to phase in the changes, failed to prevent abrupt cuts and big disparities – as much as 1.80 per month in the well – publicized case of two sisters who worked for the same company. .The Senior Citizens League enthusiastically supports H.R. 3302 and H.R. 1114, and we will continue to advocate for them tirelessly in months ahead. For more information, visit the Bill Tracking section of our website. … Continued

  • Risk Of Deeper Benefit Cuts When Congress Waits

    Indeed, during the 2005 debate over Social Security reform, one of the leading proposals would make changes to the benefit formula similar to those made in 197The proposal would tie the calculation of the initial retirement benefit to changes in price inflation. According to an analysis of a leading proposal by the Congressional Budget Office, when benefits are charted on a graph as shown here, they illustrate a "precipitous decline" in benefits and an all too familiar "V" shaped Notch. .I've been out of work since late March. The company that I was working for is in the process of declaring bankruptcy, and I haven't found a new job yet. I turn 64 in two months, but if I start Social Security. Ask the Advisor: August 2020 Is Taking a Loan Against Your Social Security Benefits a Reasonable Option When You are Out of Work? .About 30 percent of the "other than legal " immigrants who were living in the U.S., and age 62 in 2000, would be eligible to receive retiree benefits. … Continued

Sen. Bernard Sanders (VT) introduced S. 500 on March 7, 201It has since been referred to the Committee on Finance. .Can you tell me how I can find out what my benefit and probable income from Social Security would be? I've heard some complaints about conflicting information. I turn 62 later this year. .On Tuesday, the Trustees of the Social Security and Medicare programs released their annual reports on the current and projected financial status of the two programs. As expected, the Trustees found that both programs currently face manageable financial challenges. .Is his condition "severe"? Your husband's medical condition must significantly limit his ability to do basic work— for at least 12 months. .The Finance Committee members spent much of Tuesday's hearing debating the primary motivators of rising healthcare costs, especially growing premiums in the individual market. Many on the committee seemed convinced that the ACA is to blame, while others said the Trump Administration is responsible. .Shop around regularly. You can save hundreds of dollars a year in premiums by shopping around. Some state insurance department websites publish rate comparisons for standardized coverage that can help you find the best deals. Another way to compare is to shop from an independent insurance agent who sells from multiple carriers. You can also try online sites like Insure.com, NetQuote.com and SelectQuote.com. When considering a less expensive insurer, consider getting auto coverage from the same company for savings of up to 30 percent. .This week, lawmakers in the Senate adopted a budget resolution that lays the groundwork for a repeal of the Affordable Care Act. In addition, The Senior Citizens League (TSCL) announced its support for three new bills in Congress. .Sources: "An 87 Year Old Nun Said She Was Raped In Her Nursing Home. Here's Why She Couldn't Sue," Haley Sweetland Edwards, Time, November 16, 201"House Passes Ban on Forced Arbitration, Class Action Limits, Jaclyn Diaz, Bloomberg Government, September 20, 2019. .How the Coronavirus Pandemic Is Affecting the Finances of Older Households