Social Security Legislation Would Give Seniors the Pay Raise they Deserve.

“Today, Chairman John B. Larson (CT-01) chaired the second in a series of hearings focused on protecting and improving Social Security. This hearing was focused on enhancing Social Security benefits. Larson’s opening statement can be found... — Today, Chairman John B. Larson (CT-01) chaired the second in a series of hearings focused on protecting and improving Social Security. This hearing was focused on enhancing Social Security benefits. Larson’s opening statement can be found here.
“Social Security is the working American’s retirement guarantee. It is the floor for their retirement savings, and many seniors heavily rely on it. For nearly two-thirds it represents the majority of their retirement income. That’s why we need to enhance benefits, so that no one who has worked their whole life can retire into poverty. The Social Security 2100 Act will strengthen this guarantee and allow seniors to retire with dignity, by providing stronger benefits for them,” said Larson.
Max Richtman, the President and CEO of the National Committee to Preserve Social Security and Medicare, testified at today’s hearing saying: “We believe there is a consensus supported by an overwhelming majority of Americans to close Social Security’s modest funding gap and improve Social Security benefits. It is also important that any plan strike the right balance between the overall financial needs of the program and the specific needs that still exist for strengthening the protections that Social Security provides.”
via Rep. John Larson.
**Related Reading:**
**Social Security Legislation Would Give Seniors the Pay Raise they Deserve.**
Among other things, the legislation:
Provides a 2% benefit bump for all beneficiaries.
Protects retirees against inflation with a new formula for calculating cost-of-living adjustments, the Consumer Price Index for the Elderly (CPI-E).
Includes an increase in the special minimum benefit so that more low-wage workers qualify.
Cuts taxes for over 12 million Social Security beneficiaries.

Source: bit.ly

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For years, seniors have told us that they need their Social Security benefits boosted. They want fairer cost-of-living adjustments (COLAs) that reflect retirees’ true living expenses. They say it’s time for the wealthy to start paying their fair... — For years, seniors have told us that they need their Social Security benefits boosted. They want fairer cost-of-living adjustments (COLAs) that reflect retirees’ true living expenses. They say it’s time for the wealthy to start paying their fair share in Social Security payroll contributions. Congressman John Larson’s Social Security 2100 Act would achieve all of that – and more.
The bill would keep the system solvent for nearly the rest of this century while modestly boosting benefits – and cutting taxes for retirees. Not only do seniors and advocates support this bill, the American public has affirmed the proposals that it embodies in poll after poll, across party lines and age groups.
**Read more from this blog post by clicking here.**

Source: bit.ly politics social security social insurance retirees retirement crisis entitlements entitlement reform john larson secure 2100 earned benefits democrats COLA older americans elderly p2 seniors social security 2100 act congress

National Committee president Max Richtman will be attending this event speaking about the current state of Social Security and the Social Security 2100 Act.
Rep. John Larson’s ‘Social Security 2100 Act’ would:• Cut taxes for seniors.
• Strengthen... — National Committee president Max Richtman will be attending this event speaking about the current state of Social Security and the Social Security 2100 Act.
**Rep. John Larson’s ‘Social Security 2100 Act’ would:**
Cut taxes for seniors.
Strengthen benefits.
Ensure the system remains solvent for generations.

Source: bit.ly social security social insurance politics secure 2100 seniors elderly older americans retirement retirees retirement crisis entitlements entitlement reform earned benefits p2 social security 2100 act john larson brendan boyle

lindasanchez.house.gov

Reps. Linda Sánchez Introduces Strengthening Social Security Act of 2016

Washington, DC – Representatives Linda Sánchez (D-CA), Mike Honda (D-CA), and Mark Pocan (D-WI) along with 45 original co-sponsors today introduced H.R. 5952, the Strengthening Social Security Act of 2016:

Max Ritchman, President and CEO of the National Committee to Preserve Social Security and Medicare: “America’s seniors understand all too well that our nation faces a retirement crisis and improving Social Security benefits is vital to keeping millions from poverty. Rep. Linda Sanchez’s ‘Strengthening Social Security Act’ makes several important improvements for seniors by: phasing out the payroll tax cap so that the wealthy pay their fair share, creating a Cost of Living adjustment for the elderly and boosting benefits for all retirees including widows/widowers. NCPSSM strongly supports this legislation and applauds Congresswoman Sanchez for doing the right thing for America’s seniors and their families.”
via Representative Linda Sanchez.

Rep. John Larson says Social Security system needs upgrading and expansion

We live in a country and during a time where and when the seniors among us struggle to live off of Social Security and Medicare.
That could be about to change as U.S. Rep. John Larson seeks to reform the Social Security system.
Larson’s Social Security 2100 Act proposes to increase benefits to current and future recipients and combine the Old Age, Survivors and Disability Insurance benefits into one Social Security Trust Fund.
via New Britain Herald.

Related Reading:

Dems, Advocates Push Hard for Social Security Expansion.

Richtman said that the 2% across-the-board benefit increase in Congressman Larson’ bill, while modest, could make a big difference for seniors like Nettie. A two-percent boost would equal about $300 annually for the average retiree.
So would the improved cost-of-living (COLA) formula in Larson’s legislation – the Consumer Price Index for the Elderly (CPI-E), to help Nettie and other seniors keep pace with inflation.

Source: bit.ly politics social security john larson seniors social insurance elderly older americans retirement retirees retirement crisis entitlements entitlement reform democrats congress COLA cpi-e

“via twitter.
”
Related Reading:
Congressman John Larson is a champion for seniors!
We have endorsed his Social Security 2100 Act.
Social Security 2100 Act Boosts Benefits,
Cuts Taxes for Seniors.• The bill would keep Social Security solvent into the... — via twitter.
**Related Reading:**
Congressman John Larson is a champion for seniors!
We have endorsed his Social Security 2100 Act.
**Social Security 2100 Act Boosts Benefits,**
**Cuts Taxes for Seniors.**
The bill would keep Social Security solvent into the next century while increasing benefits and cost-of-living adjustments — and giving millions of seniors a tax break.

Source: bit.ly politics social security john larson p2 elderly older americans seniors retirement earned benefits retirees retirement crisis entitlement reform social insurance entitlements

bit.ly

Delaying retirement boosts Social Security checks

Max Richtman

It’s no secret that American workers face a major retirement crisis. Wealth inequality and workplace changes mean more and more retirees have come to rely on Social Security for most of their income. But the average monthly Social Security benefit in Maryland is $1,472 — or roughly $18,000 per year, which is only slightly above the federal poverty line. And even with Social Security, some 7 percent of Maryland’s seniors live in poverty.

The good news is that Maryland workers can increase the size of their future Social Security checks by delaying retirement. Delayed claiming past the early retirement age of 62 results in bigger monthly benefit checks for life, and waiting until after the current full retirement age of 66 yields even greater gains — up to 44 percent more than early claiming.

But too few Marylanders are taking advantage of this “delay-and-gain” strategy, or are even aware of it. The average age for claiming Social Security in Maryland is 64 — two years older than the minimum, but early enough to be penalized with lower benefits, which are cut by roughly 6 percent for every year that they file for Social Security before the full retirement age.

Read our full op-ed by clicking here.

Source: bit.ly politics social security social insurance delay and gain earned benefits p2 elderly seniors retirement retirees retirement crisis entitlements entitlement reform retirement age retirement security

“The conservative argument that the retirement crisis is a myth has been based on the notion that Americans actually will have far more in retirement resources than they recognize — particularly that Social Security benefits will amount to a much... — The conservative argument that the retirement crisis is a myth has been based on the notion that Americans actually will have far more in retirement resources than they recognize — particularly that Social Security benefits will amount to a much larger percentage of workers’ lifetime income than has been assumed. Ergo, there’s no need to expand Social Security to give retirees more.
via Los Angeles Times.
Further Reading:
Letter Endorsing Social Security Expansion Act.

Source: ncpssm.org social security politics andrew biggs news entitlements retirement retirement crisis entitlement reform p2 retirees social insurance seniors older americans elderly

Rather than cut benefits or hike the retirement age, this proposal would increase benefits across the board. It would provide a better cost-of-living adjustment that would reflect the true cost seniors incur, such as higher medical expenses.

Representative John Larson.

NCPSSM — Today, Chairman John B. Larson (CT-01) chaired the...

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