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TSCL's Board of Trustees Meets with Members of Congress.According to most projections the change would cut benefits by about 7% over 25 years for current beneficiaries. But that estimate doesn't include the full cost of the cut for new retirees. Baby Boomers who have not yet turned age 60 would be hit particularly hard because the COLA is used in the Social Security benefit formula to adjust average monthly earnings once a person turns 60. The adjustment is automatically applied even if people haven't yet filed a claim for benefits. The COLA adjustments along with a delayed benefit credit helps to boost initial benefits of people who delay benefits and work longer..To learn more and to participate in TSCL surveys and polls, visit..For information about town hall meetings near you during the spring recess, call the local offices of your elected officials. You can find contact information for your Members of Congress right here..benefits. If you're in a high-earning year, your earnings may help boost your."Americans Make Hard Choices on Social Security: A Survey With Trade-Off Analysis," National Academy of Social Insurance, October 2014..Mr. Shiman said at Wednesday's hearing: "There is a special bond between grandparents and their grandchildren. The scammers knew this well and took full advantage of it with my wife and myself. They knew that when a grandchild is in trouble, grandparents go all out to help.".The "Gang of Eight's" proposal is now in the hands of the full Senate, and Majority Leader Harry Reid has said he will bring the bill to the floor in June. Until then, TSCL will continue to monitor the evolving negotiations, and we will post updates here in the Legislative News section of our website..To improve program solvency, TSCL's surveys have found that a large majority of survey participants, 72%, support applying the Social Security payroll tax to all earnings instead of just the first 2,800 in earnings.

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IPAB Repeal Bill Approved by House.As further reinforcement, my colleagues and I introduced the Prioritize Spending Act that directs the Treasury to pay Social Security and Medicare first. As of this writing, the President and Senator Reid refuse to allow it to become law..TSCL's review of the Totalization Agreement and related documents raises a number of significant questions. For example, no new estimates of the cost of the agreement to the Social Security Trust Fund were released to TSCL. … Continued

Policy Watch Is The End Of The Long Term Care Crisis Within Sight New Covid 19 Cases And Deaths In Long Term Care Facilities Are Dropping

Dad passed away a few years ago at age 90, after going to the emergency room during a health emergency and then spending a few days in the hospital. He was released to a nursing home where he lived a few more months. When all this happened, we didn't have any professional counseling, and had no idea how complicated this situation would turn out to be. We didn't know what Medicare covered or that it would not cover his nursing home care. Nor did we know how to get Medicaid assistance. Now Mom has no income left but her Social Security, and dad's impossible nursing home bills that she will never be able to pay off. How can we find help with questions about nursing home care, and how the costs would be financed in case Mom needs it next?.Rick Delaney, Chairman of the Board, TSCL.While you should check with a professional financial advisor, you and your husband still have the right to claim spousal benefits only, when you turn 6Under the new law changes, while you couldn't apply for spousal benefits, based on a suspended application, your husband can apply for spousal benefits based on your full retirement age benefit, using a restricted application while his own benefit continues to grow. He would receive half of your benefit, or about 5 per month, until he claims his own retirement benefit. Together the two of you would receive ,215 per month, which is better than the ,150 you alone were hoping to get as a spousal benefit. Then, when he turns 70, he can claim his full benefit of about ,100 per month. … Continued