Medicare and Social
Security Trustees Report
Last week, the
Medicare and Social Security Trustees released their annual
report on the financial status of the Social Security and
Medicare trust funds. The Medicare report shows the fund
approaching a deficit and insolvency quickly, with a deficit in
the Hospital Insurance Trust Fund by 2010 and bankruptcy in
2019, seven years earlier than last year's report
predicted.
The RSC prepared a
fact sheet on a Social Security loophole, known as the
Government Pension Offset, which which in certain cases
allows beneficiaries to collect from Social Security AND from a
state or local government pension system.
Click here to read the fact sheet.
Rep. Kevin Brady (R-TX) also prepared a
detailed fact sheet on the Government Pension Offset
loophole.
Click here to read the fact sheet.
Savings
Accounts
The RSC prepared an update on two
proposals for new savings accounts--the Retirement Savings
Account (RSA) and the Lifetime Savings Account (LSA)--in
which earnings accrue tax-free:
Click here for the full document.
