House Committee Considers Bill to Boost Social Security.

“As a doctor, I’m an enthusiastic supporter of the Social Security 2100 Act, sponsored by Rep. John Larson (D-CT) and co-sponsored by 210 House Democrats. This legislation will go a long way toward preserving and improving public health.
Under... — As a doctor, I’m an enthusiastic supporter of the Social Security 2100 Act, sponsored by Rep. John Larson (D-CT) and co-sponsored by 210 House Democrats. This legislation will go a long way toward preserving and improving public health.
Under current law, Social Security benefits will be automatically cut by 20 percent in 2035. That would be disastrous for seniors, for Americans with disabilities, and for children. It would make it even harder for my patients to afford the medications I prescribe and buy the nutritious food they need to stay healthy.
via AlterNet.
**Related Reading:**
House Committee Considers Bill to Boost
Social Security.
National Committee president Max Richtman is urging the House Ways and Means Committee to boost Social Security — and keep the system financially sound for the rest of the century — as it takes up the Social Security 2100 Act. The bill, introduced by Congressman John Larson (D-CT), receives its first full committee hearing today after years of inaction by the former House majority. In his testimony to the committee, Richtman emphasizes that the National Committee enthusiastically endorses the bill on behalf of its millions of members and supporters.

Source: bit.ly

politics social security social insurance seniors retirement retirees retirement crisis entitlements entitlement reform earned benefits john larson p2 elderly older americans congress GOP democrats secure2100

See more posts like this on Tumblr

#politics #democrats #social security #social insurance #seniors #retirement #retirees #retirement crisis #entitlements #entitlement reform #earned benefits #john larson #p2 #elderly #older americans

More you might like

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.

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

bit.ly

Louisville workers can gain big by delaying retirement

Workers in Louisville face a major — and very real — retirement crisis. Wealth inequality and workplace changes have practically sawed off two of the legs of the traditional retirement stool: pensions and private savings.

More than half of today’s retirees rely on the third leg of the stool, Social Security, for most of their income. (The average Social Security benefit in Kentucky is roughly $16,000 per year, only about $3,500 above the federal poverty line for individuals.) Even with Social Security, some 13% of Kentucky seniors live in poverty. The good news is that workers can increase the size of their future Social Security checks by delaying retirement.

Another Voice: Delaying retirement means gains in Social Security

It’s no secret that American workers face a major – and very real – retirement crisis. Wealth inequality and workplace changes have all but kicked out two of the legs of the traditional retirement stool: pensions and private savings – both of which are at historic lows.

More and more retirees have come to rely on the third leg of the stool, Social Security, for most of their income. (The average monthly Social Security benefit in New York State is about $1,450 or some $17,000 per year, only slightly above the federal poverty line.) Even with Social Security, 10% of New York’s seniors live in poverty. The good news is that workers can increase the size of their future Social Security checks by delaying retirement.

Updated Social Security formula would protect benefits for those needing them most

For the 65 million people on Social Security, there will be no annual raise in their benefits in 2016

Social Security is indispensable for many of our nation’s retirees, who depend on the program for retirement security. But for the 65 million people on Social Security, there will be no annual raise in their benefits in 2016.
via NJ.com.

The Truth about Social Security’s Math Really Does Matter – Even in Washington

For months, conservative think-tankers who undermine the value of Social Security, deny the existence of a national retirement crisis and the need to boost benefits have been banging their drum for benefit cuts especially hard. Why? Because a scarcely reported CBO report on Social Security replacement rates (now you see why we don’t usually share these kind of stories) claimed Americans received more in benefits than previously believed or reported by Social Security actuaries.

via Entitled to Know.

Source: ncpssm.org social security politics seniors retirement entitlements retirees retirement crisis entitlement reform p2 social insurance CBO

While this has a clear meaning to policy wonks, it is likely that most viewers won’t immediately know that “entitlements” means the Social Security and Medicare their parents receive. It’s a lot easier for politicians to talk about cutting wasteful “entitlements” than taking away seniors’ Social Security and Medicare.

Dean Baker via Truth Out.

NCPSSM — As a doctor, I’m an enthusiastic supporter of the...

See, that’s what the app is perfect for.