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Social Security Trust Fund Projected to Endure for an Additional Year, Trustees Say

Social Security’s trust fund received a one-year reprieve in the 2022 Social Security Trustees report, released late Thursday afternoon.  The Trustees project that the combined disability and retirement trust fund will become depleted in 2035 – one year later than predicted last time – if Congress doesn’t take preventative action. When the trust fund becomes insolvent, the Trustees say, Social Security will only be able to pay 80% of scheduled benefits.
2022-06-03T12:21:25-04:00June 3rd, 2022|Categories: COLAs, Congress, payroll taxes, President Biden, Rep. John Larson, Social Security, Social Security Trustees|

Pending Aduhelm Coverage Decision Could Pave the Way for Lower Medicare Premiums

Medicare Part B beneficiaries have seen their monthly premiums jump to from $148.50 to $170.10 this year – one of the biggest increases in recent history. Many seniors on fixed incomes who welcomed this year’s 5.9% Social Security COLA were dismayed to find that $21 of it will be consumed by the Medicare premium bump.  But this week brought some potentially encouraging news. 
2022-03-21T12:31:59-04:00January 11th, 2022|Categories: COLAs, Congress, Medicare, Medicare premiums, Prescription Drug Prices, President Biden|

NCPSSM President Testifies at Hill Hearing on Social Security Legislation

Social Security must be expanded and strengthened now. That was the message National Committee president Max Richtman delivered in testimony today before the House Ways and Means Social Security subcommittee, chaired by Rep. John Larson (D-CT). This was the first and possibly only hearing on Congressman Larson’s Social Security 2100: A Sacred Trust legislation, which would boost benefits and extend the solvency of the program’s trust fund.
2021-12-08T12:21:49-04:00December 7th, 2021|Categories: COLAs, Congress, COVID, Democrats, Max Richtman, Rep. John Larson, Republicans, Social Security, women, women's retirement security|

Social Security Trustees Report Signals Now is the Time to Strengthen & Expand the Program

Americans who rely on Social Security can exhale for a moment now that the program’s Trustees have reported that the trust fund will remain solvent until 2034. That’s only one year earlier than projected in last year’s report. It is time to strengthen and expand the program.
2021-08-31T17:33:32-04:00August 31st, 2021|Categories: COLAs, Congress, Democrats, Rep. John Larson, Social Security|

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