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GIVE RIGHT NOW to Help Us Fight for a Fair COLA!
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Dear John,
We think it’s outrageous … Today’s official announcement that there would be a tiny Social Security Cost-of-Living Adjustment (COLA) next year — 1.3% — means that millions of beneficiaries will once again find their expenses outpacing their Social Security benefit. And it demonstrates the complete failure of the current COLA formula to deliver a fair COLA and accurately measure seniors’ expenses, including higher out-of-pocket health care and housing costs.
Whenever I’ve done a town hall meeting about Social Security, one issue always rises to the top: Social Security COLAs. Retirees across America consistently tell us that their annual COLAs are simply not adequate. And they have a reason to be concerned. Historically, these adjustments have not kept pace with seniors’ rising expenses.
According to the Government Accountability Office (GAO), “federal retirement benefits could be subjected to adjustment based on potentially inaccurate information.” Bottom line, Social Security is basing “raises” off of the spending habits of working-age urban and clerical workers — not off of the very different spending patterns of seniors who are actually receiving Social Security benefits!
The health and financial security of millions of older Americans depend on getting a fair and accurate COLA next year and every year. So please support our advocacy efforts in Washington to pass legislation now pending in Congress that would strengthen the retirement security of America’s seniors by boosting Social Security benefits and adopting the Consumer Price Index for the Elderly (CPI-E), which more accurately measures how inflation affects older Americans. It’s time to take action that provides seniors with protection against the insidious effects of inflation for the rest of their lives!
Sincerely,
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Max Richtman
President & CEO
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