Could This Impact Va Cola?

[Vync]

Proposed 1% reduction in annual Social Security COLA?

I'm not a lawyer, but saw this in the news and was curious if it could impact VA COLA --- if it somehow was signed into law. I know Bachman took some heat recently for publicly announcing the desire to cut VA benefits, but quickly realized it was a mistake. This could be one of those situations where Hutchison does not realize that this proposal might have cascading effect into VA benefits.

Senator Kay Bayley Hutchison (R-Texas) proposed her "Defend & Save Social Security Act"

Key provisions, if passed:

- Gradually increase retirement age (over 16 years) to 69

- Institute a one percent reduction in the annual Social Security COLA

- More details are in the links below

Link to the Senator's site

http://hutchison.senate.gov/?p=press_release&id=615

Link to the actual text of the bill

http://hutchison.senate.gov/files/documents/SS%20Bill%20Text%20-%20FINAL.pdf

[john999]

If the government redefines how the COLA is calculated I think it would affect us all. We already don't get full cost of living adjustment. The goal of these budget hawks is to just define away the COLA and leave us on the beach. Without a decent COLA we are done. In 1973 a 10% rating was 28 dollars. All the increase is due to the COLA.

[Pete53]

It may not but it probably will as VA Cola is pegged to Sicial Security.

[john999]

I think we will get a COLA this year since core inflation has gone up. They don't count fuel and food in the CPI. How do you like that? I go to the store, and I can't get two bags of stuff without spending $75 bucks. Two years without a cola hurts us all since future cola's are based on what you were making due to previous cola's.

[Vync]

They should rename the Consumer Price Index (CPI) to the Consumer Price Index Without Factoring In Consumption (CPIWFIC).

[Stretch]

If they did raise the retirement age, then people would be eligible for SSDI until that latter date, rather than 65 years old and then reduced to SSI retirement.

[carlie]

If they did raise the retirement age, then people would be eligible for SSDI until that latter date, rather than 65 years old and then reduced to SSI retirement.

Stretch,

You've got me questioning myself now.

I receive SSDI and I am 53 yrs old. I have always understood it to be that when I reach retirement age

my monthly amount will not be reduced.

So, have I been understanding this right ?

Thanks.