New COLA calculation bill in Congress

Erin Bendig of Kiplinger explains a new bill in Congress that could result in a change to Social Security cost of living adjustments (COLAs) that could benefit retirees. The Boosting Benefits and COLAs for Seniors Act, proposed by Rep. Ruben Gallego (D-AZ) and Sen. Bob Casey (D-PA),…

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Americans Understand Neither Annuities Nor Social Security

Daniel de Visé analyzes data from two recent studies showing that Americans have poor literacy when it comes to annuities. Yet the author believes that an annuity, which is a series of fixed, predictable payments made at regular intervals over…

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The election & Social Security’s future

Lorie Konish of CNBC says Social Security is on the ballot this fall. She explains the various bills in Congress on both sides of the aisle. Democrats are championing tax increases and Republicans have suggested raising the retirement age over…

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Social Security & Inflation: Keeping Up or Losing Ground?

Tami Luhby of CNN writes here that Social Security is not keeping up with inflation and that many seniors may exact their ire over the issue at President Joe Biden. Two recent cost of living increases (5.9% in 2021 and…

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Revisiting WEP And GPO

One of the most nagging criticisms of the U.S. Social Security program is found in the persistent outcries of unfairness from the people affected by two scorned sections of the program’s massive rulebook. Anyone following legislative activities involving Social Security…

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“Ask Rusty – Widower’s Retirement Stymied by Social Security’s “WEP” and “GPO” Rules”

Dear Rusty: My wife passed away 4 years ago. I want to retire so called SSA and was told I can collect my own SS at 62, reduced by WEP. My wife’s SS was greater than mine, but they said…

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