• Retirees’ Secret Christmas Wish — Keeping Warm This Winter Home Heating Costs 26.2% More for the 2018–2019 Season New List of Rising Retiree Costs From The Senior Citizens League (Washington, DC)  Gift certificates for home-heating oil are likely to be among the most appreciated gift you can give this holiday, says The Senior Citizens League. “That’s because it will cost many Americans roughly 26 percent more to fill their home-heating fuel tanks this winter than last,” says The Senior Citizens League’s Social Security policy ...
  • Retirees to Get Highest COLA in 7 Years Retirees will finally start to see more money in their Social Security benefits next year, after years of record low inflation.  The Social Security Administration recently announced a 2.8% cost-of-living adjustment (COLA) effective January 1, 2019.  That’s the highest COLA since 2012, and higher than many recent retirees have ever seen.  Since 2013, COLAs have ...
  • Will The Next COLA Finally Raise Your Social Security Benefit? It’s a situation that many retirees haven’t seen since 2012.  A noticeable boost to net Social Security benefits is expected for 2019.  While the annual cost of living adjustment (COLA) won’t be announced until October 11th, recent CPI data indicates that next year’s Social Security COLA will be about 3.3%.  What’s more, Medicare Trustees have ...
  • What’s At Stake for Social Security Benefits In the Upcoming Election? Mary Johnson, editor Voters are worried about the impact that midterm elections could have on Social Security benefits.  The U.S. Congressional Budget Office estimates that recent tax reform will add $1.8 trillion to the federal deficit over the next 10 years.  To make matters worse, the Social Security trustees recently reported program financing has eroded, and ...
  • Social Security Benefits Lose 34% of Buying Power Since 2000, 2019 COLA Could Top 3.3% Social Security benefits have lost 34 percent of buying power since 2000, according to the 2018 Social Security Loss of Buying Power Study recently released by The Senior Citizens League.  This is the biggest loss of buying power recorded since 2012, and that was the biggest loss that The Senior Citizens League’s study has recorded ...
  • Is Your Social Security Benefit Keeping Up With Rising Costs? Probably Not About half of participants in TSCL’s 2018 Senior Survey confirm that, after the deduction for their rising Medicare Part B premiums in 2018, they were left with no boost to their net Social Security benefit, or one that was so small that they had less than $5.00 per month left over to deal with all ...
  • How Using The Chained CPI To Calculate COLAs Would Affect Your Benefits The newly enacted tax legislation calls for adjusting tax brackets and the standard deduction using the more slowly growing Chained consumer price index (CPI).  What would switching to the new index for calculating Social Security benefits mean for retired and disabled beneficiaries? A new study released by The Senior Citizens League finds that the Chained CPI ...
  • Social Security COLAs Need to Double and Medicare Part B Increases Cut in Half, to Ensure Benefit Adequacy (Washington, DC) – Social Security cost-of-living adjustments (COLA) would need to double their rate of growth and Medicare Part B premium increases would need to slow by half their historic rate to provide greater Social Security benefit adequacy, says a new report  from The Senior Citizens League.  Using the federal government’s economic projections for the ...
  • How A Provision of Tax Reform Increases Chances of Lower COLAs By Mary Johnson, editor The main source of funding for Social Security comes from the payroll taxes that workers pay into the program.  But there are two other sources of revenues: taxes that retirees pay on their Social Security benefits, and the “interest” earned by the “I.O.U.s” held by the Social Security Trust Fund. The I.O.U.s in ...
  • Chained CPI Would Cut Average Social Security Benefits (Washington, DC) – Higher taxes — lower benefits — more complexity.  A new, more slowly growing consumer price index (CPI), known as the chained CPI, promises the worst of all worlds for tens of millions retirees, disabled and other Americans with the lowest incomes, according to a new report from The Senior Citizens League.  “It’s ...

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