On Monday, I was honored to join Congressman Larson, Senator Blumenthal, Lt. Governor Susan Bysiewicz, Hartford Mayor Luke Bronin, and my legislative colleagues as our Federal elected officials announced Social Security 2100: A Sacred Trust, proposed legislation that would:
Provide a benefit bump for current and new beneficiaries
Provide an increase for all beneficiaries that is the equivalent to about 2% of the average benefit
Protect against inflation – Improves the annual cost-of-living adjustment (COLA) formula to better reflect the costs incurred by seniors through adopting a CPI-E formula
Protect low-income workers – No one who paid into the system over a lifetime should retire into poverty. The new minimum benefit will be set at 25% above the poverty line
Improve benefits for widows and widowers in two income household
Repeal the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) that currently penalize many public servants
End the 5-month waiting period to receive disability benefits
Provide caregiver credits to ensure that caregivers are not penalized in retirement for taking time out of the workforce to care for children or other dependents
Extend benefits for students to age 26
Increase access to benefits for children who live with grandparents or other relatives
We need to work together to ensure that this important legislation passes and our seniors, children, and the disabled have adequate funds to live.