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Could This Impact Va Cola?

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Vync

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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

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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.

Carile,

This is straight off the Social Security FAQ Website. Once you get to retirement age nothing will change except what your benefit is called.

Effect of full retirement age on disability benefits

Updated 01/31/2011 05:39 PM | ID# 160 I receive Social Security disability benefits. Will my Social Security benefits change when I turn full retirement age? When you reach full retirement age, nothing will change, except for Social Security purposes, your benefits will be called retirement benefits instead of disability benefits. You do not need to take any action.

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I am in the same SSDI/SSI boat as Carlie except I am 10 years older than that spring chicken. I, too, would be interested in an explanation of what happens Social Security wise when I turn 65. I have always understood that the amount would remain the same. Seems to me that it would be impossible to recalculate since I have not been employed for 32 years.

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I am in the same SSDI/SSI boat as Carlie except I am 10 years older than that spring chicken. I, too, would be interested in an explanation of what happens Social Security wise when I turn 65. I have always understood that the amount would remain the same. Seems to me that it would be impossible to recalculate since I have not been employed for 32 years.

It may be the terminology that is confusing. I know it was for me.

Both SSDI/SSI are disability income payments made to the disabled BEFORE they reach the retirement age. This is from the Social Security website.

Social Security is responsible for two major programs that provide benefits based on disability: Social Security Disability Insurance (SSDI), which is based on prior work under Social Security, and Supplemental Security Income (SSI). Under SSI, payments are made on the basis of financial need.

Once you get to retirement age your SSDI will convert to straight social security and as stated in the reply to Carlie, nothing changes for you except the name as far as Social Security is concerned.

It would be called SS (not SSI). "SSI" is a Social Security term for Supplemental Security Income.

All kinds of answers are on the ssa.gov website under FAQ. Hope this helps.

Edited by handler
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Social Security is responsible for two major programs that provide benefits based on disability: Social Security Disability Insurance (SSDI), which is based on prior work under Social Security, and Supplemental Security Income (SSI). Under SSI, payments are made on the basis of financial need.

Once you get to retirement age your SSDI will convert to straight social security and as stated in the reply to Carlie, nothing changes for you except the name as far as Social Security is concerned.

It would be called SS (not SSI). "SSI" is a Social Security term for Supplemental Security Income.

All kinds of answers are on the ssa.gov website under FAQ. Hope this helps.

handler,

Thanks for posting some assurance of comfort : -)

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If you are on SSD and receive money for your disability it will stay the same till you reach retirement age-except for COLA increases. Your payments are based on what you paid into SS when you became disabled. The younger you are the more you have to lose. So the only thing that changes is the name(SSDto SS) and the money stays the same.

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