News
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Supreme Court Decision Expected Obama Immigration Plan
TSCL was first established as a special project of TREThe Enlisted Association. On January 1, 1995, TSCL became an independent 501[c][4] citizens' action organization and therefore donations are not tax-deductible. .The billion could be financed without taking money from the Social Security Trust Fund. One way is through reduction of pork barrel spending and government waste. In the fiscal year 2001 budget alone, pork "watch-dog" Senator John McCain (AZ-R) estimated that the government would spend a record billion in pork-barrel projects. .Unless something is done, TSCL calculates there may be no COLA for next year. … Continued
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What Are Your Fastest Rising Costs
COLAs are intended to protect the buying power of Social Security benefits against rising inflation. A new study recently released by TSCL found, however, that the CPI used to calculate COLAs today only does an anemic job of protecting benefits as it is. Since 2000, the COLA has increased just 31 percent, while typical seniors' expenses jumped 73 percent, more than twice as fast. .Repurpose "heirlooms in time." If you have boxes of "almost antiques" hidden away in antiques or basements pick out a few to repurpose for a second time around. Restring those old broken beads, cut apart shrunken felted sweaters and sew into new tote bags for the market. Drill holes in into old loose-leaf tea cans and plant some thyme, rosemary or a small parsley plant for a sunny windowsill. A great place to get inspiration is www.Pintrest.com. .There are immediate fixed annuities — the amount of the monthly payment does not change, and immediate variable annuities in which the monthly income is adjusted to the rate of return on stocks, bonds and cash investments held by the annuity. … Continued
This week, lawmakers remained in their home states and districts to continue campaigning for the November 8th elections. They are expected to return to Capitol Hill in mid-November to begin the lame duck session of Congress. Until then, most lawmakers will be attending local events and holding town hall meetings in their home states and districts. .The study found that a person who retired in 2000 — with an average Social Security benefit of 6 per month — would have ,246.20 per month by 2020. However, because retiree costs are rising at a substantially faster pace than the COLA, that individual would require a Social Security benefit of 0.00 more per month, or a total of ,626.20 in 2020, just to maintain his or her 2000 level of buying power. .TSCL's Board of Trustees Visits Capitol Hill .Most Americans contribute 6.2 percent of every paycheck to Social Security, but due to the taxable maximum wage cap, people earning more than 8,500 pay nothing over that amount. Do you support increasing or eliminating the taxable maximum wage limit to make the program more solvent? .How To Grow Your Initial Retirement Benefit By 8% Per Year Until Age 70. If you have the choice, learn how delaying your retirement benefit can result in a higher benefit and pay a return today's CDs and most bonds can't touch. .TSCL is hopeful that SSA will add additional options for authentication quickly so that Social Security beneficiaries without cellphones can regain access to their online accounts. Congressman Sam Johnson (TX-3) – Chairman of the Ways and Means Social Security Subcommittee – sent a letter to SSA's Acting Commissioner Carolyn Colvin on Tuesday requesting swift action. He wrote, "I urge you to take a hard look at this new policy and make the changes necessary to ensure that mySocialSecurity has the right balance between security and access." .One-out-of-three adults covered by Medicare is not getting regular routine dental care, according to TSCL's 2019 Senior Survey. We estimate that translates to roughly 20 million older Americans who are going without bi-annual cleanings, X-rays, and dental exams. Medicare does not cover routine dental health services, and that often comes as a shock to new beneficiaries. More than half of survey participants say they do not have any dental insurance coverage. .TSCL agrees, and we enthusiastically support the PRIME Act. We look forward to working with Reps. Roskam and Carney through the remainder of the 114th Congress to help build support for the critical piece of legislation. .Having income to supplement Social Security benefits that lasts your entire life, no matter how long you live, is a challenge for many seniors. If you don't get a sizable pension from an employer, but you have some savings built up in retirement accounts, "longevity insurance policies," better known as annuities, might be worth considering.