In his speech, President Obama also spoke briefly about a new retirement savings plan that will allow citizens to invest in low-risk Treasury bonds through "myRA" accounts. Shortly after the speech, he signed a presidential memorandum directing the Treasury Department to create the new plans. While TSCL agrees that saving for retirement is crucial for younger generations, we were disappointed that the President did not propose any efforts to assist today's seniors. Most Americans over the age of sixty-five rely heavily upon their Social Security checks to meet their daily needs. However, our research shows that seniors are unable to keep up with rising costs – their expenses are rising more than twice as fast as the Social Security cost-of-living adjustment. We strongly believe that Congress should act soon to restore the purchasing power of Social Security benefits. .When asked whether you prefer to get your Social Security benefits directly deposited electronically to bank accounts or received by mail, 9 percent of seniors still prefer receiving checks. .Can you tell me how I can find out what my benefit and probable income from Social Security would be? I've heard some complaints about conflicting information. I turn 62 later this year. . I was born May 10, 1960. Can you tell me my retirement age? I've read that the retirement age for Social Security is rising. How does this affect the amount that I receive in benefits? Can I still retire and receive benefits at age 62? .Will Our New Congress Pass a Benefit Boost? .By Shannon Benton, Executive Director .TSCL continues to work with Members of Congress for stronger protections of Social Security. TSCL supports legislation that would ban the payment of benefits based on illegal work — H.R. 787, "No Social Security for Illegal Immigrants Act," introduced by Representative Dana Rohrabacher (CA-46), and S.95, legislation to prevent Social Security credit from being earned without legal status, introduced by Senator David Vitter (LA). .Transportation (new vehicles, airline fares, gasoline, motor vehicle insurance) .Raising Medicare Age Would Save 500 Billion Dollars