TSCL Calls Seniors To Action.From a tax perspective, your distributions from a traditional IRA or 401 are 100% taxable, while distributions from a Roth IRA or 401 are not taxable. Up to 85% of Social Security benefits may be taxable but, for many people, the taxable percentage is much lower..Social Security disability benefits are financed through the taxes paid by workers and their employers on earnings up to a cap of 7,000. Of the 6.2% that each pays, 0.9% goes to Disability Insurance and the rest goes to pay retirement and survivors benefits..Like the enormous sword of Greek legend hanging by a single hair above the head of Damocles, the U.S. Totalization agreement with Mexico continues to remain hanging over our nation's Social Security program. The agreement has not yet undergone final approval, but its fate has far-reaching implications for the benefits of 53 million U.S. Social Security beneficiaries..If you get a call from someone that you don't know who is asking for personal information, don't be polite - hang up or shut the door. If you do get such a call about new Medicare cards, you may help other retirees avoid scams by calling your local newspaper and TV stations to alert the local news media to the attempt. Tell journalists what almost happened to you and ask for their help to get the word out to other retirees..Your decision on when to enroll in Medicare depends on two factors: 1.) your age or disability and, 2.) the size of your husband's employer. You are first eligible to enroll at 65, but if your husband's employer has over 20 full time employees then you would be able to delay enrollment in Medicare while your husband is still working and he continues to have health coverage through his employer. Once the employment or coverage ends you have 8 months to sign up for Part B without penalty during a Special Enrollment Period..The Senior Citizens League is opposed to the payroll tax cuts. To learn more visit..But that's not all. Congressional Democrats also want to add dental, vision and hearing coverage to Medicare but that goal is running into resistance from powerful health industry lobbies..Since it was first signed into law over 75 years ago, Social Security has kept tens of millions of senior citizens and disabled Americans of all ages out of poverty and ensured that they could live dignified and independent lives. I believe that the COLA is an essential part of Social Security that must be calculated accurately. That is why I have fought to protect seniors by introducing the Consumer Price Index for Elderly Consumers Act in successive Congresses. This bill would give our seniors a Social Security COLA that actually reflects their cost of living.
