The National Commission on Fiscal Responsibility and Reform has recommended changes to the way Social Security Cost of Living Adjustments (COLA) are calculated. These changes would result in a lower and less accurate measure of inflation. Click here for a Social Security COLA cut fact sheet.
Even though Connecticut teachers do not receive Social Security benefits based on their teaching years, these cuts could affect you because the COLA to teachers’ pensions are based in part on the Social Security COLA. (More information here.) Moreover, many Connecticut teachers will collect some Social Security benefits from work they have done outside of teaching. These changes would affect not only retired teachers, but future retirees as well.
The Strengthen Social Security Campaign, which has teamed with NEA, is asking concerned citizens to call their U.S. Senators this Thursday and Friday to stop efforts to cut the Social Security COLA. Changes to Social Security are front and center in the negotiations over a more modest deficit-reduction bill.
You can stop these cuts. Call your U.S. Senators this Thursday and Friday, July 14-15.
Tell your senators:
- NO cuts to Social Security!
- NO cuts to Social Security’s COLA!
For more information on the proposed changes, and to understand why they’re so problematic, read this June 2011 policy issue brief from the National Senior Citizens Law Center.
How would decreases in the COLA to your pension affect you? Share in the comments.