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Could This Impact Va Cola?

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  • Content Curator/HadIt.com Elder

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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  • HadIt.com Elder

My SSD converted seamlessly to SS Retirement on my 67 th Birthday, I got a letter from SS telling me about the change. Since there was no COLA there was no change.

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  • HadIt.com Elder

I turn 66yo in Sept, 2011, and received a notice, recently, from SS, that my SSDI payment, will convert to SS retirement and the amount will remain the same. I, personnally, recommend anyone, considering early retirement, should apply for SSDI, in hopes of winning the full retirement rate, early. Especially if receiving any type VA disability. jmo

pr

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