When the Social Security Administration announced that the cost-of-living adjustment (COLA) for 2016 would be zero, a stunning thing occurred. The Medicare Trustees projected that the monthly Part B premium would increa ...
Category: Issues
Retirement Benefits Could Be Subject To “Inaccurate CPI Information”
TSCL is forecasting a 1.3% Social Security cost-of-living adjustment (COLA) for 2021. Our forecast is based on the most recent consumer price data from the U.S. Bureau of Labor Statistics (through August) and uses the s ...
2021 Social Security COLA Likely To Be About 1.3%
(Washington, DC) – Social Security recipients are likely to get a 1.3 percent cost of living adjustment (COLA) in 2021, making it the second lowest ever paid, according to The Senior Citizens League (TSCL). “Our forecas ...
Q & A: August 2020
My Ex-Spouse Died. Would I Qualify For Widow’s Benefits Even Though I’m Re-married? Q: I’ve been out of work since late March. The company that I was working for is in the process of declaring bankruptcy, and I hav ...
Ask the Advisor: August 2020
Is Taking a Loan Against Your Social Security Benefits a Reasonable Option When You are Out of Work? Q: Recently I read about a stimulus proposal that would allow people who are out of work to access $5,000 of Socia ...
Coronavirus Throws Monkey Wrench Into COLA Calculations
By Mary Johnson, editor Impute. Today’s word comes to us from the economists at the U.S. Bureau of Labor Statistics (BLS). Since March of this year, they have been forced to use this estimation technique much more f ...
How Does the High Unemployment Affect Social Security’s Solvency?
Social Security’s finances depend largely on payroll taxes, tying the strength of Social Security to the strength of the U.S. economy. The U.S. unemployment rate was more than 13.3% through May. That was worse than the ...
Q & A: July 2020
What Should I Do? I Lost My Job And Health Insurance. Q: The company that I worked for shut down in March because of the coronavirus, and I did not get my job back. I lost my paycheck and my health insurance. I’m ...
No COLA Expected For Next Year
By Mary Johnson, editor The coronavirus is creating especially challenging long-term impacts for the nation’s retirees. Coronavirus - caused deflation will likely obliterate the Social Security cost-of-living adjustm ...
Deflation Signals Zero COLA For 2021, Benefits Lose 30% Of Buying Power
Social Security benefits have lost 30 percent of buying power since 2000. These are the findings of an annual TSCL study that examines the adequacy of Social Security benefits in keeping up with the rising costs typical ...
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