I would oppose measures to replace any part of Social Security’s guaranteed benefits with individual investment accounts.
SS benefits are already being eroded, and current projections with Part B deductions show SS replacement rates will have fallen by 31%.
In only two generations, the ability to provide replacement income has fallen 25%. Replacing these guaranteed benefits with risk-bearing investment accounts will further place the people of the 15th at risk.
I would oppose efforts to reduce Social Security benefits.
The graduated increase in retirement age from 65 to 67 reduces the benefits for those who choose to retire at age 65.
Medicare premiums are also increasing more rapidly than benefit increases.
It is important that any restructure or recalculation of benefits does not reduce benefits, as more people owe personal income tax on their benefits.
Due to the insufficiencies throughout the 15th District rural health care network, any increase in the retirement age would do great harm to our people.
Too many seniors have to choose between medications and food, and the COLA isn’t keeping up with monthly bills.
The benefit formulas are complex and include many factors, including length of time working, earning history, inflation, and age at which one begins receiving benefits.
Changing these formulas must be backed by proper actuarial studies and done to strengthen benefits, not to weaken them.
Lastly, means testing is not appropriate considering that benefits are earned and are not an entitlement.
I support measures to strengthen Social Security benefits.
Traditional sources of retirement income are providing less and less support for retirees.
Social Security income replacement rates have been falling steadily since 1985, a trend that is projected to continue and even accelerate.
Employer-sponsored retirement plans have mostly transitioned from defined benefit plans to 401(k)s, shifting risk from employers to employees.
Participation rates in 401(k) plans among eligible employees remain at about 80 percent, with about 20 percent of eligible employees electing not to participate.
Access to these plans is an issue—less than half of all private sector workers, ages 25–64, participate in an employer-sponsored pension plan.
The need to strengthen retirement income security exists. Any plan to strengthen benefits must include an appropriate, long-term plan for funding the benefits.
Many options to increase retirement savings are worthy of further consideration.
Examples include raising the cap on taxable payroll, better informing future beneficiaries about their retirement income options, and using opt-out instead of opt-in enrollment for employer 401(k) plans.
Urbana City Council Considers Repealing Panhandling Rules October 22, 2018
The Urbana City Council is considering repealing its ordinance against aggressive panhandling, after the American Civil Liberties Union and other groups that advocate for the homeless urged city leaders to do so to avoid potential litigation.
A Conversation with Shirley Bell, Democratic Candidate For The 110th Illinois House District October 22, 2018
Democrat Shirley Bell of Mattoon is running for state representative in the 110th Illinois House District, which runs from Charleston and Mattoon in Coles County, down to Robinson in Crawford County and Lawrenceville in Lawrence County.
U.S. President Donald Trump said on Monday that he was still not satisfied with what he has heard from Saudi Arabia about the killing of journalist Jamal Khashoggi in Turkey, but did not want to lose investment from Riyadh.
CIA Director Gina Haspel was traveling to Turkey on Monday to help investigate the death of Saudi journalist Jamal Khashoggi, two sources familiar with the matter said, as security agencies examined what role Saudi Crown Prince Mohammed bin Salman may have played in the case.