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By MONEY MORNING STAFF REPORTS - 01/11/16
Congress has hidden, in a seemingly innocent piece of legislation labeled H.R. 1314, a radical reform that threatens the financial security of as many as 21.3 million Americans.
This legislation has already passed the House of Representatives and Senate with overwhelming majorities, and President Obama has signed it into law.
It goes into effect on May 1, 2016.
After that date American seniors stand to miss out on $11.4 billion in Social Security benefits.
According to Dr. Laurence Kotlikoff, a former Senior Economist with the Council of Economic Advisers to Ronald Reagan, some individuals stand miss out on an estimated $50,000 in Social Security benefits.
And most of these Americans will be completely blindsided by what’s coming, because instead of holding a public debate, Congress stuck these changes into an emergency bill.
Fortunately, for the as 21.3 million eligible seniors there is still time to lock in these benefits before the May 1st, deadline.
That means if you are retired, or are about to retire, you still have the opportunity to lock-in thousands of dollars’ worth of lifetime benefits before they disappear forever.
But, your time is quickly running out to step forward and claim what is rightfully yours.
That’s why It’s critically important you determine whether you will be one of the countless Americans who are in danger of experiencing the devastating reform, and take steps now to protect yourself.
Editor’s Note: You can get a full break down of Congress’ “banned benefits” and how you can protect yourself from the changes by clicking here