FAQ's
- Frequently Asked Questions (FAQ): September 2021 How Does TSCL Project the Social Security COLA? Q: I would like to know how, at this point, you project a Social Security COLA at 6.1%. Inflation would have to continue on an upward path through September for that to happen. — R.Q., NJ A: You make an excellent point! The Senior Citizens League (TSCL) uses the ...
- Ask the Advisor: September 2021 Could the Social Security COLA Be More Fairly Adjusted to Provide a Fixed Annual Dollar Amount? Q: Could the annual Social Security cost-of-living adjustment be more fairly adjusted to provide a fixed annual dollar amount? If the dollar amount of the increase were to be based on middle income, then low- and middle-income beneficiaries would be ...
- Ask The Advisor: April 2017 My Congressman Wants A More Accurate Measure Of Inflation For COLAs. How Would That Affect My Social Security Benefits? Q: I received a mailing from my Representative stating that he supports a plan to save Social Security that would provide a more accurate measure of inflation to calculate annual cost-of-living adjustments. What would this mean for ...
- Ask the Advisor: September/October 2016 Would a Higher Cost-of-Living-Adjustment in Social Security Make Me Ineligible for Medicaid? Q: I recently read that if retirees got higher cost-of-living-adjustments some low-income people would lose eligibility for Medicaid, food stamps, and other benefits. Would using a senior consumer price index to determine the annual raise really do this? A: It would be unlikely for the ...
- Ask The Advisor: Congress Salaries and COLA How Much Did Congress Earn Last Year? Q: Can you tell me how much members of Congress earned last year after shutting down the government? Did they receive a COLA for 2014? I’ve heard conflicting stories. A: Members of Congress earned a salary of $174,000 in 2013, but they received no cost-of-living adjustment (COLA) in 2014 — ...
- Are Deeper Cuts Coming? — How Much Would You Lose? Most analysts believe that switching to a more – stingy measure of inflation to determine annual cost-of-living adjustments (COLAs) will form a key provision to larger government-wide deficit reduction legislation. The idea received the blessing of President Obama who offered the change last December during fiscal cliff negotiations and continues to float the idea as ...
- FAQ: How “Chaining the COLA” Cuts Your Social Security TSCL Mounts Nationwide Effort Fighting COLA Cuts A major move is underway to reduce government spending on Social Security by cutting the growth rate in annual cost-of-living adjustments (COLAs). What would it cost you? Here are answers to some of your most frequently asked questions: Q: What is the “chained” CPI? A: Through 2012, annual COLA increases have ...
- FAQ: How Would Switching To the “Chained” CPI Affect Social Security Benefits? Pending budget decisions over dwindling government funds will likely once again trigger a high-stakes battle over how to reduce the nation’s debt. A proposal that would reduce the rate of growth in annual Social Security cost-of-living adjustments (COLAs), as well as COLAs paid in other federal benefit programs, including those of military retirees, remains on ...
- Ask The Advisor: COLA Determination What Is Tracked In Determining The COLA? Q: In determining the COLA what items does the government track for price changes? Why does the COLA grow so much more slowly than my costs? A: It’s not what the government tracks that causes your Social Security cost-of-living adjustments (COLAs) to grow so slowly. It’s what the government isn’t ...
- Ask The Advisor: Social Security v Ponzi Schemes Is Social Security A Ponzi Scheme? How Much In Social Security Income Can I Expect To Get? Q: I’ve been hearing a lot recently that Social Security is a Ponzi scheme. Just how much in Social Security benefits can I expect? I just turned 62, but I’m still working and haven’t started benefits yet. A: The amount ...
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