The National Seniors Council represented its supporters at a Congressional hearing dedicated to the issue of the changing retirement landscape for Baby Boomers. The hearing was held by the Senate Special Committee on Aging. Sadly, more Americans are retiring today with less money coming in and more going out to pay off medical bills, debt and so forth.
Supporter Relations Coordinator Sean Ferritor (right) stands
beside the witnesses during a discussion with Senator Joe
Manchin (D-WV) after the hearing concluded.
According to Senator Susan Collins (R-ME), as of January 1, 2011, the first Baby Boomers began to retire and since then ten million Americans have reached the age of retirement.
During the hearing, Chairman Nelson raised the possibility of a grand bargain that would alter the Consumer Price Index (CPI) from the existing one. In theory, this would save Social Security money but it would cost seniors dearly. When asked what she thought, Joanne Jacobsen a retired senior, testified, "I think you're talking life and death. You're talking food, medicine, etc."
"Joanne is absolutely right," explains National Director Robert Crone. "The notion of a chained-CPI is troubling. For a senior who relies on Social Security, decreasing the Cost-of-Living Adjustment is devastating. I cannot stress how important Social Security is for retirees. I will not allow Congress to continue to make cuts to Social Security!"
Paula Calimafde, Esq., Chair of the Small Business Council of America, urged Congress not to cut back on contribution levels and to encourage savings by helping seniors and businesses find mutually beneficial employer-sponsored retirement plans. Furthermore, witnesses urged Congress to reduce obstruction and work to help seniors enjoy a peaceful and stress-free retirement.
On behalf of our supporters, the National Seniors Council commends Chairman Nelson for his work on behalf of seniors all across America. This is a critical time for many seniors and the National Seniors Council will work with those in Congress to make sure seniors can retire at ease.
-- March 27, 2014