Summary
The Social Security Survivor Benefits Equity Act Proposal aims to increase the long-standing lump-sum death benefit provided by Social Security from $255 to $2,900, reflecting modern inflation rates. This change is proposed to alleviate the financial burden on families dealing with funeral costs, which have significantly increased since the benefit was last adjusted in 1954.
For decades, the lump-sum death payment has remained unchanged despite rising costs associated with funerals and living expenses, leaving many families struggling to cover these essential costs. Senator Peter Welch of Vermont introduced this legislation, co-sponsored by Senators Bernie Sanders and Elizabeth Warren, highlighting the urgent need to address the inadequacy of the current benefit. According to the National Funeral Directors Association, the average cost of a funeral has escalated from approximately $700 in the 1950s to about $6,280 today, with casket services costing around $8,300. The proposed increase is intended to ensure that the death benefit aligns more closely with the financial realities faced by grieving families.
Legislative Context and Support
The proposal has garnered support from various advocacy groups, including Social Security Works and the Strengthen Social Security Coalition. Proponents argue that the increase is a necessary adjustment to help families manage funeral expenses without the added stress of financial strain during a time of grief. The bill is designed to take effect in 2025, adjusting the death benefit according to the Consumer Price Index for Urban Wage Earners and Clerical Workers, which is used for calculating annual cost-of-living adjustments for Social Security.
Challenges Ahead
Despite the apparent need for this adjustment, the bill faces potential hurdles in the legislative process. Experts have noted that proposals to expand or adjust Social Security often encounter significant political and budgetary challenges, especially amid ongoing discussions about Social Security’s overall solvency. As the debate continues, the future of the Social Security Survivor Benefits Equity Act remains uncertain, with advocates urging swift action to support families in need.
New law that could change Social Security checks to retirees – Would be a significant increase
Oct. 18 / La Grada / Highlights the proposed increase in Social Security's lump-sum death benefit, providing a clear context for its necessity. The expert opinions add depth, though the piece could benefit from more diverse perspectives on potential opposition. “ A new bill that could become effective soon will increase Social Security checks to around $2,000 for some beneficiaries in the United States. Social...
$2,000 increase in Social Security benefits – This new law is about to be passed
Sep. 30 / La Grada / Offers a concise overview of the bill and its implications, effectively summarizing key statistics on funeral costs. However, it lacks a deeper exploration of potential political hurdles, making it feel somewhat superficial. “ A new bill could lead to a significant increase in Social Security benefits , raising them by over $2,000 for certain beneficiaries. Currently, Social...
Social Security’s death benefit has been $255 since 1954. Some senators want to change that
Sep. 26 / Cnbc / Focuses on the historical context of the death benefit, effectively framing the urgency for change. While informative, it could engage more critically with opposing viewpoints, leaving a slightly one-sided impression. “ Skynesher | E+ | Getty Images When a Social Security beneficiary dies, their loved ones may qualify for a one-time $255 lump-sum death payment . Yet that...
Social Security Benefit to Increase More Than $2,000 Under New Bill
Sep. 27 / Newsweek / Delivers a thorough examination of the proposed legislation, emphasizing the rising costs of funerals. The inclusion of expert insights enhances credibility, yet it could have expanded on broader implications for Social Security. “ Some could increase by over $2,000 if a new bill passes. Social Security benefits are typically paid monthly to seniors during as well as to . However, when...