Retirement should be a time when seniors can relax after years of hard work. And whether their funds for retirement come from retirement savings, a pension, or from Social Security, all retirees should receive every penny of what they’re owed. However, over the years, Social Security beneficiaries have experienced years of missed cost-of-living adjustments (COLAs). Because COLAs are not guaranteed, retirees can miss out on the benefits they deserve. H.R. 2266, also known as The COLA Act of 2021, would help Social Security beneficiaries during retirement by guaranteeing a COLA every year. And at NORA, we’re ready to see this bill pass.
How The COLA Act of 2021 Would Impact Retirement
The COLA Act of 2021 would eradicate years of no COLAs. Instead, every year, seniors would receive an increase either based on increases to the consumer price index for that year or the average of the COLAs from the previous years.
Currently, this bill is in the House Ways and Means Committee. As our legislators do the work of determining if this bill is right for our nation’s seniors, we want to challenge them to take action. At NORA, we want to see The COLA Act of 2021 pass and to see the impact it has on retirement. A guaranteed increase to Social Security benefits would help millions of Americans live more comfortably.
Help Make a Difference
Ready to join NORA in making a difference? We’re calling on all seniors and their friends and family to add their names to our online petition. This is the best way to make your voice heard by Congress. We’ll show our nation’s lawmakers that retirees across the nation agree: passing The COLA Act of 2021 is what hardworking seniors deserve.
And we want to take it a step further. NORA is asking Congress to reimburse seniors what they’re owed from years of missed COLAs. We’ve calculated that some retirees could receive more than $10,000 in their reimbursement checks. This amount could make a difference in fighting against economic insecurity in seniors.
So sign our petition today. Then, follow NORA on Twitter and Facebook so you never miss an update.
