News

Does Social Security Provide Enough Income For Today's Retirees?.While the additional payroll tax went directly to the Part A Trust Fund, the 3.8% "Medicare" net investment tax was never transferred to Part A. It wound up going straight into the U.S. General Fund where it could be appropriated for any government spending..If signed into law, the Notch Fairness Act would provide modest compensation to Notch babies, or those individuals who receive lower Social Security benefits because they were born between 1917 and 192TSCL feels that this inequity was brought about by the Social Security Act Amendments that were signed into law in 197Just years before they were set to retire, these individuals learned that they would have significantly lower benefits than originally anticipated. TSCL strongly supports the Notch Fairness Act, which would provide Notch babies with either a ,000 lump-sum payment or an increased monthly benefit..What you propose is an interesting concept. It would be possible to design such cost of living adjustment option in several different ways. For example, the COLA could be calculated based on the national average retiree benefit in the current year. This amount could be adjusted using the current method the Consumer Price Index for Urban Wage Earners and Clerical Workers, or the use of a seniors' consumer price index such as the Consumer Price Index for the Elderly. The law could even add a provision that the COLA would never be lower than a certain amount - such as 3%..And there is this report from Vox News:.As to the details of how healthcare reform will affect you and your husband, stay tuned. Government officials and community organizations are gearing up for consumer information and assistance efforts that will surround this fall's open enrollment period starting in October. A major poll conducted earlier this year indicates that much of the public remains confused about the status of the health law. Check coming issues of The Social Security and Medicare Advisor for how the new healthcare law will affect seniors younger than Medicare age..Without changes to the current law, disabled beneficiaries face cuts of about 20%[i] by 201"The Senior Citizens League is calling on Congress to put forth its plan to ensure that the disability program can continue to pay promised," states TSCL Chairman Ed Cates..Barbara has a number of ways she tries to cope. She qualifies for an age reduction waiver on real estate taxes, and energy assistance to help cover the cost of heating her home. To save on her phone bill, she asked her phone company for a discount and got it. She uses shopping points from Kroger where she buys groceries to save money on gasoline..This is important information because if you or someone you know is or has been sick, it is safer to assume you have the coronavirus and not the seasonal flu, and you should seek immediate medical care.