Without a doubt the public is often justifiably confused about the convoluted workings of federal benefit programs. But the one thing we are all aware of is the amount of money we pay into Social Security, which includes taxes for both retirement AND disability insurance benefits. Social Security disability benefits are earned - same as retirement benefits. Of the 12.4% payroll tax paid by workers and employers, the retirement trust fund gets 10.6% and the disability insurance trust fund gets 1.8% of the revenues collected..Remarks by the President on Comprehensive Immigration Reform in El Paso, Texas, May 10, 201"Senate Democrats Reintroduce Dream Act," Jennifer Steinhauer, The New York Times, May 11, 201"Green Card for a Family Member of a U.S. Citizen," U.S. Citizenship and Immigration Services, as of May 11, 2011..According to the Federal Register "Amounts collected under section 1411 are not designated for the Medicare Trust Fund." The Joint Committee on Taxation in 2011 stated that's because "No provision is made for the transfer of the tax imposed by this provision from the General Fund of the United States Treasury to any Trust Fund.".Phasing in an increase in the payroll tax rate for workers and employers from 6.2% to 7.4% each over a period of twenty years. The gradual growth would mean an extra 50 cents in taxes per week each year for the average worker..The big difference between the CPI-W used to calculate your COLA, and the CPI-E, is the weight or portion of income that the Bureau of Labor Statistics gives to each category. While seniors occasionally benefit from the heavier weighting of transportation costs and food costs under the CPI-W when food and gasoline prices spike, in the majority of years they fall behind due to the lower weighting of medical care..Don't expect much growth in Social Security benefits next year. According to consumer price index data, Social Security and other adjusted benefit payments will probably stay pretty flat. With the Social Security Administration getting ready to announce the 2014 cost-of-living-adjustment on October 16th, the COLA looks like it will be in the vicinity of 1.7%. That would raise average monthly benefits of ,157 by just .70..TSCL believes stronger protections are needed and supports legislation that would prohibit using earnings from illegal work to determine Social Security benefits. What do you think? Take TSCL's 2015 Senior Survey now..Mulvaney explained that the goal of the proposed cut to SSDI is to "test new approaches to increase labor force participation," which suggests that large numbers of ineligible people are abusing the system and need to go back to work. While Social Security disability has well-publicized problems with fraud and abuse, it's important to note that eligibility standards for Social Security disability mean that a person must have a condition so severe that he or she is not able to work. Thus, someone who truly meets the eligibility standards for disability, is not likely to ever re-enter the workforce..Specifically, the WEP reduces the earned Social Security benefits of an individual paying into the system from one job while receiving a public pension from a job not covered by Social Security. Educators are just one example of folks especially hard hit when they take a summer job. The GPO significantly cuts by two-thirds the spousal benefits of federal, state and local employees in jobs not covered by Social Security such as police officers, firefighters, and educators.

State Legislatures Magazine First Branch News Ncsl S Weekly Roundup Of Legislative Headlines637493259 Magazine2021

"The world's biggest drug makers and their trade groups have cut checks to 356 lawmakers ahead of this year's election - more than two-thirds of the sitting members of Congress, according to a new STAT analysis..President thinks about taking money from Social Security to pay for economic stimulus.For the past 16 years, Johnson, has been helping friends and family members with the job of comparing health and drug plans. "It takes patience, but this is likely to be the best return on comparison shopping that you do all year," Johnson says. Here are some pointers: … Continued

Policy Watch Mental Illness May Soon Be Most Common Pre Existing Conditions

Estimates by the Social Security Administration indicate that if the taxable maximum were eliminated, and the payroll tax of 12.4% were applied to all earnings, that program solvency would be extended as much as 40 years. This includes allowing retired workers credit for benefits on the higher earnings. And not only would lifting the taxable maximum keep the program financed well into future, it would pay for providing a more fair and slightly higher COLA using the CPI-E..The CR will fund the government through this coming Friday, Dec. 18, at the same level as fy2020 funding. If they still can't reach an agreement it is likely they will pass another CR that will go to the end of the year. That would give them time to go home for Christmas and then return to Washington to continue trying to reach a final agreement..Economic forecasts for 2013 warn of a financial crisis ahead. Nobody is feeling it more acutely than seniors living on fixed incomes. Retirees and disabled adults won't see much of a cost-of-living adjustment increase in benefits this year. At 1.7%, the 2013 is one of the lowest ever paid, not counting 2010 and 2011 when no COLA was payable at all. Timing couldn't be worse. … Continued

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