Options for Reducing the Deficit: 2019 to 2028, Congressional Budget Office, December 2018..TSCL enthusiastically supports ​H.R. 1902, S. 915, H.R. 4841, and S. 1600, and we were pleased to see support grow for each of them this week. For more information, visit the Bill Tracking section of our website..The place to start learning more about your retirement or survivors options is the Social Security website, but don't stop there. If you have a retirement account, ask your financial advisor if Social Security benefit planning services are offered..While the majority of workers pay Social Security on 100% of their earnings, people who earn the most, more than 8,500 a year, pay NOTHING on earnings over that amount..By working longer, you may have access to employer-provided health.can backfire, leaving you with bigger health problems and bills down the road.."The bottom line is that Medicare Part B premiums rise several times faster than COLAs, and those premiums are now high enough to cause the net Social Security benefits of millions of people to remain flat for years at a time," Johnson says. "We are at the point where this is affecting far more people than anyone ever anticipated, and it's a red flag that Medicare premiums are increasing too fast, while Social Security benefits are not adequately keeping pace," she explains..Increasing funding for Continuing Disability Reviews, which are conducted periodically to ensure that disabled enrollees still qualify for benefits. CDRs return to the program for every invested..A new analysis by Johnson compared the growth of average benefits since 2009 with what retirees would have received assuming Social Security law provided a COLA guarantee of at least 3 percent, as has been proposed by some Members of Congress, including Representative Eliot Engel. Johnson's analysis found that an average benefit of ,075 in 2009 would be 6.50 per month higher in 2018 - about 17 percent higher - had Social Security recipients been protected by a 3 percent COLA guarantee. Over the past nine years, the average retiree would have received about ,947 more in total Social Security income.

Quad Caucus

The Congressional Budget Office estimates that there would be costs both to Social Security and Medicare, primarily for disability benefits starting as early as 2017, assuming enactment into law this year. The CBO said, however, that the new TSCL-supported amendment would save the programs about billion over the first 20 years, with the savings growing greater in the future..What do you know about the fastest rising expenses in retirement? Take this quiz at..This week, The Senior Citizens League was pleased to see support grow for two key bills that would improve retirement security in America if adopted. … Continued

Heal The Secret Of Change

The coronavirus emergency spending bill that Congress just passed was not "paid for," in Washington's language. It was added to the deficit, which means the government will borrow the money to pay for it..In some cases, where the surviving spouse is younger, or there is a disabled child, the higher monthly benefit might be preferable because presumably it would be payable for a longer period of time. In addition, the Notch Reform benefit would be split among eligible survivors, for example, a widow and a former divorced spouse. Under these circumstances the higher monthly benefit may also yield more than the lump-sum. But for most Notch Babies or their survivors, TSCL believes the lump-sum would provide a higher benefit..This week, Congressman John Garamendi introduced legislation that would base Social Security cost-of-living adjustments on a more accurate measure of inflation. In addition, The Senior Citizens League announced its support for a bill that would make the Social Security program more equitable for public servants. … Continued

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