lL Teeh ail 17ed ————— Buying PowerOf Social Security Eroding (NAPSA)—It’s a well-known fact among seniors: The longer you spend in retirement, the less your Social Security check covers. That happens, even though Social Security is one of the few forms of retirement income that’s adjusted annually for inflation. “The buying powerof Social Security benefits gets eroded over time because the annualcost of living adjustment [COLA] doesn’t fairly reflect the cost increases that affect seniors the most,” says Ralph McCutchen, Chairman of The Senior Citizens League (TSCL). Seniors often say they live on a fixed income. In reality, they live on a shrinking one. That happens because the con- sumerprice index(used to calculate the annual COLA) doesn’t fairly track the expensesof seniors, but those of younger working people instead. “And because health care costs rise so much faster than general infla- tion,” says McCutchen, “Social Security checks aren’t keeping up.” As one of the nation’s largest nonpartisan seniors groups, The Senior Citizens League urges seniors to ask their legislators to ensure Social Security beneficiaries receive a fairer COLA by sup- porting the Consumer Price Index for Elderly Consumers Act. Learn more at www.SeniorsLeague.org.
