COLA

AARP: Reject Harmful Cuts to Social Security and Medicare

Posted on 11/1/2013 by |AARP Executive Vice President | Comments

PoliticsAs the largest nonprofit, nonpartisan organization representing the interests of Americans age 50 and older and their families, AARP urges the budget conference committee to reject harmful cuts to Social Security and Medicare benefits for the purpose of achieving deficit reduction or as a tradeoff for scheduled sequestration cuts or other government spending. While we agree that sequestration cuts will have a growing impact on critical discretionary programs and should be revisited, we remain steadfast in our commitment to protect …

Social Security Checks to Edge Up in 2014

Posted on 10/30/2013 by |Washington Watch | Comments

Bulletin Today | PoliticsSocial Security benefits will increase by just 1.5 percent next year — about $19 a month for the average retiree. The increase is one of the smallest since automatic cost-of-living adjustments were adopted in 1975. It affects Social Security benefits for some 58 million Americans, as well as benefits for millions of disabled veterans, federal retirees and people who get Supplemental Security Income. >> Sign up for the AARP Money newsletter. “The COLA announced today is vital to millions, but at …

AARP: Don’t Shrink Social Security’s Cost-of-Living Adjustment

Posted on 10/30/2013 by |AARP Executive Vice President | Comments

PoliticsThe annual Social Security cost-of-living adjustment (COLA) is critically important to the financial security of the nearly 58 million Americans receiving benefits. By providing protection against inflation, the COLA helps beneficiaries of all ages maintain their standard of living, keeping many from falling into poverty. The COLA announced today is vital to millions, but at an average of just $19 per month, it will quickly be consumed by the rising costs of basic needs such as food, utilities and health …

Shutdown Delays Announcement of Social Security COLA

Posted on 10/10/2013 by |Washington Watch | Comments

Bulletin Today | PoliticsWondering what next year’s cost-of-living adjustment for Social Security will be? Keep wondering. The Social Security Administration was scheduled to announce the annual COLA adjustment on Oct. 16, but it can’t do so because it won’t have an inflation report for September from the Labor Department. The Labor Department announced on Oct. 10 that it won’t be issuing the inflation report because of the government shutdown that went into effect on Oct. 1. Sign up for the AARP Money Matters …

A Look at Social Security’s History – Celebrating Social Security’s 78th Anniversary!

Posted on 08/20/2013 by |AARP Blog Author | Comments

Public Policy InstituteLast week marked the 78th anniversary of the passing of the Social Security Act. To commemorate, this blog post looks back to see how Social Security has changed over the years. Below, you will find a timeline highlighting famous firsts, important legislation and the growth of one of America’s most popular programs. 1935: On Aug. 14, the Social Security Act (H.R. 7260, Public Law No. 271, 74th Congress) became law with President Franklin D. Roosevelt’s signature at approximately 3:30 p.m. …

Iowa Senator Gets a Tearful Earful

Posted on 08/13/2013 by |Washington Watch | Comments

Bulletin Today | PoliticsThe August recess gives Capitol Hill lawmakers a chance to hear from their constituents back home, and sometimes that earful is downright heartbreaking. An anguished woman wept at the North Senior Center in Des Moines, Iowa, as she explained how a proposal to change the method of calculating cost-of-living increases for Social Security would leave her nowhere to cut in her precarious budget. Sen. Tom Harkin, a Democrat who opposes the “chained CPI” proposal, heard this from Sheryl Tenicat: “I …