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The good news is that in the years following attaining full retirement age, you may earn as much as you want without reduction to your benefits..To learn how much COLA cuts would cost you, try TSCL's Chained COLA calculator..At their convention in July, delegates of the Republican Party approved a platform focused on reducing the national debt. Their document begins by stating: "We reject the old maxim that Social Security is the 'Third Rail' of American politics, deadly for anyone who would change it. The Democratic Party still treats it that way, even though everyone knows that its current course will lead to a financial and social disaster." The focal point of their plan is cutting government waste, encouraging economic growth, and balancing the budget even if that means making significant changes to programs like Social Security..Yes. Social Security provides a variety of benefits to people who have not paid into the system. If one meets certain eligibility criteria, one can be eligible for benefits based on another person's account. Here are some examples:.In April, more than 150 House lawmakers proposed a budget blueprint that would have reformed the Medicare program and cut Social Security benefits by adopting the "chained" CPI, eliminating the COLA for some seniors, and raising the eligibility age. Did you support this budget blueprint, and if so, why?.TSCL Announces Support for New Bill.This question is signficant in light of proposals.Notch Bulletin: Does Your Representative Support Notch Reform? Help Us Build Key Support Now.Key Prescription Drug Bill Gains Support.The report assumes that no other change would be made in the law and that the lost revenues would not be replenished with general revenues from the Department of the Treasury.

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Those in the Senate will resume work next week on the Better Care Reconciliation Act, which will have a significant impact on the health and financial security of older Americans if adopted. If Republican leaders in the Senate successfully negotiate a compromise with the most conservative and moderate members of the party, the BCRA could be signed into law before the end of this month..At this point in time, it remains to be seen whether or not lawmakers will successfully avert the October 1st shutdown. Leaders in the House have already cancelled the week-long recess that was scheduled to begin on September 23rd, and according to Congressional Quarterly, a Senate vote on the measure could come as late as September 29th just one day before funding for federal agencies expires..A divorce can throw a monkey wrench into retirement plans, especially for women whose earning records may have fewer work years and at lower earnings than their former spouses. Understanding your options can help you maximize your Social Security benefit and live a more secure retirement. Here are the four main eligibility rules to qualify for a benefit based on the work record of an ex-spouse: … Continued

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This time, with large numbers of hospitals straining to care for COVID-19 patients, cutting payments to hospitals and increasing revenues is likely to be far more difficult. Hospitals across the country say they have been pushed to their financial limit. And simply raising payroll tax rates may not provide enough of a revenue in the short term if unemployment remains at high levels longer than anticipated. Payroll taxes cannot be collected from workers who are unemployed..Use distributions from Roth accounts to minimize taxation of Social Security benefits. Unlike distributions from traditional IRAs and 401s, qualified distributions from Roth IRAs - those taken when you are over 59½ and the contributions were made more than five years ago - will not subject your Social Security benefits to taxation. To minimize taxation of your Social Security benefits, consider taking distribution from your Roth IRA, and let your Traditional IRA or 401 grow until you reach age 70 and a half. Once you reach that age, distributions of Traditional IRAs and 401s must start by April 1 of the year following..Consumption of fried foods has also been linked to diabetes and high blood pressure. … Continued