Javascript Menu by Deluxe-Menu.com
  • Why Social Security Checks Will Shrink or Stay Same 
    Reported by: Jason Frazer

    Monday, Aug 24, 2009 @06:40pm EDT

    Six million older people will get smaller Social Security checks in January. More than 40 million others won't receiving a cost of living adjustment. That's the first time that's happened since 1975.

    For 87-year-old Evelyn Makowac, her Social Security check has been her lifeline.

    "I pay my rent. I buy my food. Pay for my insurance and I give money to church," said Evelyn.

    She's got a very small pension, but Social Security is her primary source of income. But January, there's going to be change.

    "People who are 65 years and older will not be receiving a cost of living raise for 2010. They're also estimating they will not receive it for 2011," said Mary Rose McBride with Lifespan.

    That's because increases are tide to inflation. Because of the recession, the government says there's been no inflation.

    "Everyone else gets a raise when you work, don't you? Alright, we should get a raise too," said Evelyn.

    Since 1975, Cost of Living Adjustments have increased every year for Social Security recipients. This will be the first time recipients will not get see an increase of any sort until 2012. Seniors could also see their benefits check decrease if they elect to have Medicare deductions.

    McBride thinks the lack of living adjustment will have another impact. It will force more people to think about reentering the workforce.

    "We're going to see more older Americans keep working and want to go back to work"

    Evelyn disagrees. "Who's gonna hire an 87-year-old woman for a job?" Evelyn says she'll have to look over budget and see what she can cut back on. She hopes the changes won't become permanent.
  • The Rochesterhomepage Community 
        
    Opinion Poll

    License Plates

    What Do You Think of NY's New License Plates?
     Nice, an Upgrade
     It's Okay
     Wondering How It Will Look On My Car
     Ugly, Hurting My Eyes
     Don't Really Care

     

    View Results
    View Other Polls
  • Upload Your Own Video & Photos Here 
  • Cellino 160 x 134 F 
  • IAB 160x600 ROS 
  • Jeopardy 160 x 600