Doug Osborne served in the US Air Force for 20 years. After retiring, he continued his career in the technology field using the knowledge gained during his enlistment. Doug is a lifetime member of TREThe Enlisted Association and has served on multiple committees, such as; Awards, IT, and the 5-year plan. He routinely donates his time, effort and money to the missions of TREA and The Senior Citizens League and encourages using technology to a greater degree. As the Legislative Liaison for TSCL's Board of Directors, he helps to educate seniors on various issues that strike close to home. He meets quarterly with Members of Congress and/or their staff to ensure they are aware of the concerns of TSCL supporters in their specific districts and to encourage them to support legislation that benefits senior citizens. Doug is also involved with The American Legion and, when able, Doug supports Team Rubicon on deployments. He lives in Parker, Colorado with his wife, Debbie..Washington, DC) How is the pandemic affecting retirement savings? Forty - eight percent of retirees with retirement accounts say that their savings have not recovered pre-pandemic levels, according to a new survey by The Senior Citizens League. "There's no doubt about it, the Coronavirus - caused recession is forcing many older adults to rethink retirement plans," says Mary Johnson, Social Security and Medicare policy analyst for The Senior Citizens League. "While the U.S. stock market ended 2020 at an all - time high, the retirement savings held by many retired adults do not appear to have benefited from the run up," Johnson says. "This is exactly why the guaranteed income nature of Social Security is so important," she notes..For the past several years, Social Security's Disability Insurance program has been facing financing challenges. In the fall of 2015, lawmakers took action to prevent a 19% benefit cut that would have affected 10 million disabled enrollees and dependents, extending the program's solvency past 201However, more work remains before the program can be considered financially stable. In September, lawmakers on the House Ways and Means Social Security Subcommittee took the first steps toward improving the program's solvency when they held a hearing to discuss its future..Majorities reported that:.Small market. The companies controlled drugs through a closed distribution system or specialty pharmacy where the drugs could not be obtained through normal channels or other means..Members of Congress may lose an election but unlike other Americans, they never lose their retirement and health benefits. A Member of the House or Senate who retires at age 60 after just 12 years in office will receive a Congressional pension of ,000 a year and lifetime benefits that could total more than 0,000.Notch Bulletin: How Long Have Notch Babies Been Underpaid? I was born during the Notch period. I would like to know how long Notch Babies have been underpaid. In addition could you tell me if the underpayment has been corrected and if we are receiving the right amount now? - M.R. Fort Cobb, OK.Accelerate or postpone discretionary medical expenses when feasible. The new health law reduced the amount of unreimbursed medical expenses that you can claim when itemizing the deductions. Taxpayers under the age of 65 can claim deductions for expenses that exceed 10 percent of their adjusted gross income. If you are age 65 and older you may still deduct total medical expenses that exceed 7.5% of your adjusted gross temporarily but that ends in 201If your expenses are right on the borderline, you may want to take care of any pending medical services and appointments now, so you can boost your deduction for 201If your expenses were too low to claim the medical expense deduction for 2014, consider postponing discretionary services a few weeks into the New Year..Your answers to these surveys will help TSCL educate Members of Congress, the media and the public about the views, experiences, and challenges facing seniors as they relate to Medicare and Social Security..One of the first tax cuts to expire under the recent tax law is likely to disproportionately affect older taxpayers and others with the highest healthcare costs starting in 2019, says The Senior Citizens League. "The medical expense deduction will become less generous in 2019, and that is likely to affect older taxpayers, because they tend to have high medical expenses," says Mary Johnson, a Social Security policy analyst for The Senior Citizens League. "A less generous healthcare cost deduction could mean higher taxable income next year," she cautions.
