Which Would You Rather Have: 65₵ or $65?

Last month, The Seniors Trust reported that the Social Security Administration established a 1.3% cost-of-living adjustment (COLA) for 2021.

Chuck Saletta from The Motley Fool dug deeper into this and discovered that “with the average retiree receiving $1,519.07 per month, that works out to an average increase of $0.65 per day.” That’s barely $20 per month!

It’s apparent that we need Congress to pass the Social Security Expansion Act – now more than ever. Once enacted, this legislation will increase Social Security benefits for recipients by about $65 per month. That’s money seniors desperately need and deserve.

And to ensure that retirees continue to receive the money they worked so hard to earn, the Social Security Expansion Act calls for using the Consumer Price Index for the Elderly (CPI-E) to calculate Social Security Cost-of-Living Adjustments (COLAs) instead of the Consumer Price Index for Urban Wage Earners (CPI-W) currently used.

Please, join The Seniors Trust in calling on Congress to pass this important legislation. Click here to add your name to our petition.