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Sen. Warren Requires Reforms to Social Security SSI Guidelines

Share this…FacebookPinterestTwitterLinkedin What You Must Know The utmost month-to-month SSI profit is $841 in 2022. The typical profit is under…

By Staff , in Social Security , at January 15, 2022

What You Must Know

  • The utmost month-to-month SSI profit is $841 in 2022. The typical profit is under $600, Warren mentioned.
  • Probably the most a recipient can earn in revenue earlier than dropping advantages is $65 a month.
  • The SSI Restoration Act would come with elevating the profit price.

Sen. Elizabeth Warren, D-Mass., mentioned Thursday that Supplemental Security Earnings, part of Social Security, must be reformed and known as for passage of the SSI Restoration Act, saying outdated guidelines “have trapped” 4 out of 10 recipients in poverty.

Throughout a listening to held by the Senate Particular Committee on Growing old, which targeted on monetary literacy, Warren mentioned that whereas monetary literacy is essential for these “attempting to make key selections like planning for retirement,” for low-income households “navigating a skinny social security internet that provides them too little assist, all of the training and counseling on the earth can’t magically make 2 + 2 add as much as 10.”

SSI “offers a important lifeline for 8 million low-income aged and disabled People, together with over 1 million disabled youngsters and the households that look after them,” Warren mentioned. “However proper now, our guidelines are outdated, they’re punitive, they usually squeeze means too many struggling households out of this program and lure about 4 out of 10 recipients in poverty.”

“The utmost month-to-month SSI profit — most — is $841 in 2022,” Warren mentioned. “The typical profit is under $600.”

Warren requested Cindy Hounsell, president and founding father of the Girls’s Institute for a Safe Retirement, who testified on the listening to, if $600 a month is “ample to dwell in monetary security, and save for retirement?”

Responded Hounsell: “Thanks, Senator, for overlaying that challenge. No, it’s not in any means ample. Clearly, it’s solely half of the poverty degree for elders.”

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