Merry Christmas

Gun Control Regulations Approved

     The Office of Management and Budget (OMB) has cleared new Social Security regulations that will have the agency passing along information on claimants who have representative payees to the database used to prevent some individuals from purchasing firearms. Expect these final regulations to appear in the Federal Register shortly and to come info effect before inauguration day. However, it would be possible for the incoming administration to refuse to implement them. You will not be able to read the final version of these regulations until they are sent to the Office of Federal Register.

Merry Christmas

Merry Christmas!

Regs On Submission Of Evidence Approved

     The Office of Management and Budget (OMB) has cleared Social Security's proposed "Program Uniformity" regulations. Social Security says these will address:

1) the time-frame for notifying claimants of a hearing date;
2) the information in our hearing notices;
3) the period when we require claimants to inform us about or submit written evidence, written statements, objections to the issues, and subpoena requests;
4) what constitutes the official record; and
5) the manner in which the Appeals Council considers additional evidence.

     Expect these to appear in the Federal Register shortly and to become effective before inauguration day. And to respond to a question someone raised, no, you won't be able to see the final version of this until Social Security sends it over to the Office of Federal Register.

Great Ideas Coming Out Of The CBO

     I don't know who's idea it was but the Congressional Budget Office (CBO) included two proposals for Social Security Disability Insurance Benefits among its "Options for Reducing the Deficit" -- eliminating eligibility for disability benefits for those 62 and older and requiring claimants to have worked 16 of the past 24 quarters before becoming disabled. The age 62 idea would save $17.4 billion over ten years. The 16/24 idea would save $44.5 billion over ten years. That sounds like small potatoes to me considering the political flak the GOP would take for adopting either but I'm not a Republican looking for ways to pay for a huge tax cut for the wealthiest Americans. By the way, neither idea is new. I think I first heard of the 16/24 idea in the late 1970s and it probably wasn't new then! Also, by the way, the CBO works for whoever controls Congress.
     The CBO also included proposals to eliminate Supplemental Security Income benefits for children, reduce Social Security benefits for new recipients, raise full retirement age and reduce the Social Security Cost of Living Adjustment (COLA).

A Sign Of What's To Come?

     Just before the House adjourned for Christmas, Sam Johnson, the Chairman of the House Social Security Subcommittee, introduced a bill that would make major cuts in Social Security benefits. Many media outlets have picked up on this as a harbinger of what's to come in the next Congress.

     Before the election, many Congressional Republicans privately expressed grave concerns about Donald Trump's integrity, knowledge, and temperament. They worried about the Russian attempt to influence the election. The gravest concern of these Republican members of Congress seemed to be that Trump isn't a true conservative. However, almost none of these Republicans spoke up publicly because Trump is popular with Republican voters. Now, some people are expecting these profiles in courage to march in lockstep to enact Social Security cuts that would be highly unpopular with Republicans and Democrats alike, when it would be completely predictable that Donald Trump would pull the rug out from under them?

Online Tools For Deciding When To Claim Benefits

     Social Security's Office of Research, Statistics and Policy Analysis has produced A Comparison of Free Online Tools for Individuals Deciding When to Claim Social Security Benefits. The study compares the free online tools provided by the Social Security Administration itself, the Consumer Finance Protection Bureau, the Center for Retirement Research at Boston College, the American Association of Retired Persons, Financial Engines and Bankrate. The bottom line is that each has its advantages and disadvantages.