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S.S. Facts

 

 

Your shrinking Social Security

This is serious business. Social Security cuts are affecting you, your family, your friends and your security. Did you know that past administrations allowed major changes - and you probably don't even know about them. 

~ S.S. Bulletin ~ S.S. Bulletin ~ S.S. Bulletin ~ S.S. Bulletin ~ S.S. Bulletin ~

Did you know that the same people who are cutting your benefits don't collect Social Security - they have their own pension fund that nets them about the same income they receive while in office! 
Would they pee in the well if they had to drink the water?

What they've already 'fixed' for you: 

  1. Age eligibility: There's already been one increase in the Social Security eligibility age.  
  2. Working age extension: The thrilling 'great news' from the old Clinton White House was that retired people can work and collect 'full' Social Security. Believe it - this is the first step in making you work 'till you die! Next, you'll have to have a 'supplemental' job to be eligible to collect! 
  3. Benefit cuts: Some very quiet changes have been made in the calculations, reducing your benefits. 
    1. No more quarters.  Your Social Security check is now calculated on the average of 35 years earnings!  It used to be calculated on the quarter system - using your career's peak years.
    2. Indexing. Your wages will be indexed to an arbitrary national 'average wage'...guess who decides what that will be?  
    3. Special bonus. Want to retire early? For each year that you retire prior to fulfilling the 35 working years requirement, you'll receive a 0 for your earnings.  That could mean as much as a 15% reduction in your benefits. **
  4. Massaged the posted inflation rates so Social Security COLAs (cost of living adjustments) would be reduced. For the rest of the story, click here.

Prevent more 'fixes': Our network reports that recent Congressional debates have targeted more changes -  they call them fixes for Social Security:

  1. Raise the taxes on benefits paid.
  2. Reduce benefits paid again.
  3. Raise the eligibility age again.
  4. Increase payroll taxes.
What can you do to protect your family, your security and your retirement? 
1. Motivate the politicians.
2. Start a groundswell. Email this page to your friends. Tell them to pass it on.
3. Contact your employees - the elected officials.  

 

* Details of the special bonus -  direct from the Social Security website:
"Social Security benefits are based on earnings averaged over most of a worker's lifetime. Your actual earnings are first adjusted or "indexed" to account for changes in average wages since the year the earnings were received. Then we calculate your average monthly indexed earnings during the 35 years in which you earned the most. We apply a formula to these earnings and arrive at your basic benefit, or "primary insurance amount" (PIA). This is the amount you would receive at your full retirement age, for most people, age 65."
 

** For example: if you work and contribute for 30 years of the new 35 year requirement, you get 5 years' of "0" earnings calculated into your base. Forget their 'indexing' B.S.: if your average income was $50k over the 30 years, and retire, your average earnings drop to less than $43k - almost 15% lower than actual. Now base S.S. on that! That's a serious cut!

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