According to Rep. Valadao, approximately 13 million Americans experienced some form of identity theft in 2014, resulting in a loss of billion. Upon introducing it, he said: "The fact that this crime affects children, seniors, and veterans makes it even more imperative that the federal government does everything in its power to prevent identity theft.".In the coming weeks and months, TSCL will continue to advocate against this balanced budget amendment to the constitution, and we will ask lawmakers to protect the earned benefits of older Americans by supporting legislation like H.R. 5466 from Congressman Ted Deutch. For more information or updates from Capitol Hill, visit our website..To learn how much COLA cuts would cost you, try TSCL's Chained COLA calculator..Refinancing a mortgage in retirement is a "special needs" situation. TSCL highly recommends that this should be discussed with an unbiased financial advisor..Ending the payroll tax, "would end Social Security as we now know it - as an 'earned' benefit that people pay for with taxes based on their wages," Johnson says. "If Social Security were funded out of general revenues instead, the program would be more like welfare - subject to the annual appropriations process, and the funding or repeal whims of Congress," she says..However, House Appropriations Chair Hal Rogers remains optimistic and is pushing members of the committee to move quickly. He set a November 20th deadline for each subcommittee to preconference their sections of the omnibus bill. Any work that is not finished by the subcommittees this week will be handled by the leaders of the full Appropriations Committee..New claims must be filed online and, to reach telephone assistance, one has to have the patience to wade through tedious automated menus, which can have long 24 -hour waits for return calls. Local Social Security offices can be so packed that it's standing room only. All this is coming home to roost for people who have middle to low incomes, and who can't afford the fees of professional retirement advisors. Too many people retire too soon, leaving substantial amounts of retirement income behind. That makes it all the more difficult to maintain one's standard of living later on in retirement..The 2013 COLA will be announced October 16, 201Based on CPI-W data through June 2012, TSCL's Advisor editor Mary Johnson forecasts that the COLA payable next year will be about 1.4% - 1.5%. That would make it one of the lowest COLAs paid in the 38 years since the COLA became automatic..Even so, our estimate is still not complete. It does not factor in the cost of long term care services, and, because it is an average, it may not match every household's situation.

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The .5 billion for VA health care improvements will now be paid for with savings elsewhere in the budget. However, one Democratic aide said the funds used to pay for the program were gimmicks that do not harm spending in vital programs..If adopted, H.R. 860 would strengthen and reform the Social Security program by providing beneficiaries with a 2 percent benefit boost, basing cost-of-living adjustments on the CPI-E, creating a new minimum benefit set at 125 percent of the poverty line, and cutting taxes for beneficiaries. It would also apply the payroll tax to income over 0,000 and gradually increase the payroll tax rate to 7.4 percent..For more information about town hall meetings near you during this week's holiday recess, call the local offices of your Members of Congress. For contact information, click HERE. … Continued

Issue Brief Rising Cases In Long Term Care Facilities Are Cause For Concern

Medicare Part B premiums are getting set to make one of the biggest jumps in 14 years, according to new analysis from The Senior Citizens League. While the Social Security cost-of-living adjustment will increase benefits by 1.6 percent in 2020, Medicare Part B premiums are climbing by 6.7 percent, "more than four times faster than the COLA," says Medicare and Social Security policy analyst, Mary Johnson..It's important to note that Social Security would completely suspend payment of your benefits until the withholding of benefits due to excess earnings are accounted for. If you do start to work, you will need to contact the Social Security Administration as soon as possible and report what you expect to earn in 2021..The amount of money that the federal government owes to its creditors - including the Social Security and Medicare Trust Funds - is now estimated to be as big as the entire U.S. economy. Economists warn that the situation can't continue without causing more economic crisis. … Continued

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