Blog Majority Of Us Congress Is Former State LegislatorsIt's hard to plan your optimal retirement age without a realistic idea of what to expect in lifetime Social Security income. Yet, according TSCL's 2017 Senior Survey, 71% of survey participants said that's exactly the situation they were in when they filed a claim for Social Security benefits. They did not know, and Social Security did not supply any estimate of what they could expect in total lifetime Social Security income based on their choice of retirement age..This issue has just popped up and TSCL will be in contact with members of Congress to do all we can to prevent these looming cuts and we will keep you advised as to how things are going..The Social Security COLA was intended to protect the buying power of older Americans who for the most part, are no longer in the workforce. The majority of retirees depend on Social Security for at least half of their income, meaning that Social Security benefits tend to be spent immediately on essentials like housing, food and healthcare returning billions of dollars to the U.S. economy every year. … Continued
Medicaid Issue Brief Implications Of The Expiration Of Medicaid Long Term Care Spousal Impoverishment Rules For Community Integration View FootnotesThis week, lawmakers continued working on an omnibus spending bill, and The Senior Citizens League endorsed new legislation that would give Social Security beneficiaries an emergency cost-of-living adjustment next year..TSCL is strongly opposed to plans to "chain the COLA." Such a switch has been estimated to reduce Social Security benefits by about 7% over a 30-year retirement. An average benefit of ,300 in 2017 would be about 5 per month less at the end of the period than it would be using the current CPI. An index that causes higher taxes, and lower retirement benefits, make the chained CPI a bad deal for older Americans..A survey by The Senior Citizens League indicates that Social Security benefits have lost more than one-third of their purchasing power over the past decade. Do you support calculating the COLA using an index that more accurately measures seniors' cost of living? … Continued