By Rick Delaney.The term "Notch" refers to the disparity in Social Security benefits paid to people born from 1917 through 1926 and those paid to people born before and after them with similar work/earnings records. Many of those born during the Notch period feel they have not been treated fairly and are not receiving the benefits that Congress intended. On the other hand, the Social Security Administration, some government officials, and the AARP say that those born during the Notch period are treated fairly and receiving the benefits that Congress intended. The SSA and the AARP say that Social Security does not promise a specific amount of benefits, rather Social Security is designed to replace a certain percentage of pre-retirement earnings. Who is correct?.In December of 2020, about 1.9 million people, or about 3% of all Social Security beneficiaries, were affected by WEP. This provision applies to workers who are entitled to both Social Security benefits as well as to pension benefits from employment not covered by Social Security. School teachers and firemen are two good examples. Before 1983, those whose primary employment wasn't covered by Social Security could still receive the full amount of any Social Security benefits they may have earned, assuming they had worked long enough to qualify. Today though, people affected by the WEP must have their benefits calculated using a different benefit formula. The WEP can reduce Social Security benefits by up to half the amount of the individual's pension from non-covered work..With about 1 million supporters, The Senior Citizens League is one of the nation's largest nonpartisan seniors groups. Located just outside Washington, D.C., its mission is to promote and assist members and supporters, to educate and alert senior citizens about their rights and freedoms as U.S. Citizens, and to protect and defend the benefits senior citizens have earned and paid for. The Senior Citizens League is a proud affiliate of TREA The Enlisted Association. Please visit or call for more information..During the August break an old and ugly threat to Social Security and Medicare surfaced once again. The Congressional Budget Office released its forecast of future federal government deficits. It said that deficits are expected to climb to over trillion in fiscal year2020, which begins this October And they will keep going up in the years after that..If signed into law, the Consumer Price Index for Elderly Consumers Act would amend the Social Security Act with regard to the annual cost-of-living-adjustment Social Security beneficiaries receive. Currently, the COLA is based upon the spending patterns of young, urban workers as calculated by the Bureau of Labor Statistics the CPI for Urban Wage Earners. This legislation would calculate the COLA based on the spending patterns of seniors, or by using the BLS tracked CPI-E..Medicare doesn't cover dental benefits, and dental insurance premiums can be more expensive than paying out of your own pocket for routine check ups- and cleanings. The cost to buy an individual policy averages about 0 a year. That's about what you might pay out-of-pocket without any insurance for two annual exams and cleanings, plus some X-rays..This week, The Senior Citizens League was pleased to see support grow for two key bills..For details, or to see if your Members of Congress will be holding town hall meetings during the summer recess, call their local offices. You can find contact information HERE.

Fiscal Policy Fiscal Briefs

The Social Security 2100 Act, introduced by Representative John Larson and currently under consideration in the House, would replace the two-tier income threshold system with a single set of thresholds - 0,000 for joint filers and ,000 for single filers. The bill would subject as much as 85% of Social Security benefits to taxation as under current legislation..By U.S. Representative Matt Cartwright.For years, TSCL has been advocating on Capitol Hill for a more fair and accurate Social Security COLA for beneficiaries. The Consumer Price Index for Elderly Consumers Act legislation introduced by Rep. Michael Honda is a common-sense solution that would better protect the purchasing power of Social Security benefits since it would use a more accurate measure of inflation. … Continued

Prevent How To Enjoy Winter Activities And Avoid Orthopedic Injuries

On Wednesday, TSCL announced its support for the Strengthening Social Security Act. Sen. Tom Harkin introduced the bill in the Senate, and Reps. Linda Sanchez and Rush Holt introduced the companion in the House. If signed into law, the bill would reform the Social Security program in three ways: it would adjust the benefit formula, resulting in more generous monthly benefits; it would adopt a Consumer Price Index for the Elderly, resulting in more accurate cost-of-living adjustments; and it would lift the cap on income subject to the payroll tax. According to Rep. Sanchez, these three changes would preserve the Social Security Trust Fund through 2049, reducing the seventy-five year actuarial deficit by approximately 50 percent..Deaths related to COVID-19 were higher among American Indian and Alaskan Native persons, Hispanics, Blacks and Native Hawaiian and Pacific Islander persons than whites. Among nearly all these ethnic and racial minority groups, the COVID-19 related deaths were more than double the death rate of non-Hispanic white persons..A senior with the average Social Security benefit in 2000 received 6 per month, a figure that rose to ,129.80 by 201However, that senior would require a Social Security benefit of ,477.00 per month in 2013 just to maintain his or her 2000 buying power. … Continued

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