Act Now To Prevent Social Security Unfairness!

[allan]

Date: Oct 23, 2009 2:54 PM

Act Now to Prevent Social Security Unfairness!

If you receive Social Security payments, it's all but certain you'll receive no cost of living adjustment (COLA) for 2010 unless the law changes. The COLA adjustment is based on the Consumer Price Index (CPI), and the CPI actually went down in 2009. This is unfair to seniors because:

• The CPI, which is based on a "typical" urban worker's basket of goods, does not accurately track senior costs, which include more medical expenses, prescription drugs, fuel oil, and groceries. Even Medicare premiums are increasing!
  
• New enrollees would get lower Social Security benefits reduced as a result of rising Medicare Part B premiums, while most current beneficiaries would be protected from the reduction.
  
• Because of rising Part D and Medicare Advantage premiums, an estimated six million retired seniors will wind up with lower Social Security checks in 2010 than they receive today.
  
• Each subsequent year with no COLA would create a larger gap between protected beneficiaries and new enrollees. It's the "notch" all over again!
  

Fortunately, there is a bill in Congress right now to address the situation. H.R. 3557, introduced by Rep. Walter Jones (NC) would provide an emergency COLA increase for 2010. Don't let an unfair and unrealistic COLA policy create two classes of Social Security recipients. Help us prevent an inequity that will only get worse as time goes on. Sign The Senior Citizens League Emergency Social Security COLA Petition… We will forward the Emergency COLA Petition, with your electronic "signature," to the U.S. House of Representatives and the U.S. Senate. Make your voice heard! Don't let an unfair COLA policy reduce Social Security payments. Please sign – and urge others to sign – the Emergency COLA Petition. Then join me in the campaign to preserve all our retirement rights.

Thank you. Daniel O'Connell

Board Chairman

The Senior Citizens League P.S. A realistic COLA of 3%, based on actual senior costs, is worth $10,000 to you over a 20-year retirement, when compounded annually. That's what you stand to lose if this bill doesn't pass!

Edited October 24, 2009 by allan

[Jayg]

Timely since I'm about to sign up for SSD. :D

[john999]

I signed the petition, but I think they use these things for toilet paper in D.C.

People on SSA or SSD need to vote the right way when the time comes. Everyone knows who the friends and enemies of SSA and medicare are in our country. The only things politicians listen to or look at is votes and money. The politician are afraid of the senior lobby that includes most on SSA. The reason is because seniors vote.