The Senior Citizens League is hopeful that Congress will pass responsible reforms to the Social Security and Medicare programs as soon as possible to strengthen benefits and restore the solvency of the Trust Funds. For more information about legislation that has been endorsed by The Senior Citizens League, visit the Bill Tracking section of our website..This question is signficant in light of proposals to.Will Widows Of Notch Babies Be Included Under Notch Reform? “My husband passed away September 5, 200What will happen to his lump-sum if they ever decide to pass Notch Reform? What would happen to my lump-sum if I should die now? Would my daughter get it? It seems they are waiting for us all to die.”.That's why I introduced the Seniors and Veterans Emergency Benefits Act to give seniors on Social Security, veterans, and people with disabilities a one-time payment of 1 to help cover this gap. The bill is fully paid for by closing a tax loophole that allows corporations to write off obscene bonuses to top executives as business expenses for their taxes..The more you learn about the COLA, however, the more the anemic annual boosts of our past decade raise questions. The very first COLA ever paid was 77%. No, you read that right, this is not a typo. It became payable in 1950, one year before I was born, and a full ten years after Ida May Fuller received the nation's very first Social Security benefit check for .54 - the equivalent of 0.90 today..Petition to Congress in Support of a Social Security Guarantee.This week, one new cosponsor Rep. David Valadao signed on to Rep. John Duncan's CPI for Seniors Act. The cosponsor total is now at six. If signed into law, H.R. 2154 would create a new consumer price index specifically for senior citizens for the purpose of establishing a more accurate Social Security cost-of-living adjustment. Currently, COLAs are based upon the way young, urban workers spend their money, using the CPI-W. However, seniors spend a disproportionate share of their income on healthcare, and the CPI-W fails to capture that. Each year, it underestimates the spending inflation that seniors experience. TSCL enthusiastically supports the CPI for Seniors Act, and we were pleased to see one new cosponsor sign on this week..Trustees tend to report the financial condition of the combined Social Security Trust Funds, including the one that pays retirement benefits, as solvent until 203But there are actually two separate Trust Funds with separate accounting. One Trust Fund cannot borrow or receive reallocated payroll taxes from the other without legislative action from Congress - a short - term fix that Congress has relied on 11 times in the past..Age Activated Attention Disorder.To help make the right saving and distribution decisions, get professional advice from professional financial advisors.
