Headlines
The Persistent Question: When Should I File for Benefits?
The AMAC Foundation’s Social Security Advisory Service has fielded early 9,000 individual requests for help since its January 2016 launch. And while many of the requests we’ve fielded deal with the complexities of Social Security’s myriad rules and regulations, like…
An Argument Against Raising the Full Retirement Age
Although one of the more popular recurring proposals to address Social Security’s solvency problem calls for increasing the full retirement age (FRA) from it’s current age 67 ceiling, this article by Money and Markets’ Eugene Townes presents an adverse view of this strategy.…
Social Security’s retirement age could go up. Change won’t be easy
Lorie Konish of CNBC provides an excellent overview of the debate on Social Security’s full retirement age, last changed in 1983. That year both parties came together to raise the age in two month increments from 65 to 67. It would…
Social Security Isn’t Doomed for Younger Generations
Tyler Cowen writing in Bloomberg dismisses the notion that younger folks will not receive Social Security. Cowen acknowledges the funding shortfall that will occur around 2034 with the program being incapable of paying out full, promised benefits. He cites respected researcher Charles Blahous of…
Social Security Serves Those Who Serve Our Nation
Nancy Altman, writing in Forbes, explains how the Social Security program is important to military veterans, mainly through the Disability portion of the program (SSDI). More than 600,000 veterans, many of whom were seriously injured in combat, receive Social Security disability…
A Bold Plan to Strengthen and Improve Social Security?
Dean Baker, co-director of the Center for Economic and Policy Research, gives a favorable review to The Social Security 2100 Act sponsored by Rep. John Larson (D-CT). The Act would raise payroll taxes and the amount of income subject to payroll tax in order…
Happy Veterans Day!
This Veterans Day we proudly celebrate the service of all U.S. military veterans. The holiday differs from Memorial Day, where we honor those who have died while in military service, and Armed Forces Day, where we honor those currently serving in the U.S. military. Veterans Day began…
“What is Social Security?”
Understanding even the most basic elements of the national Social Security program is an elusive goal for many who will ultimately rely on the program for security in their later years. So, an article which clearly explains the history and…
Some states tax Social Security income. Here’s a run down.
Where you live in retirement could affect whether your Social Security benefits, already subject to Federal Income Tax, will also be taxed by your State of residence. Seven states have no income tax at all on earnings, 2 states tax…
The Windfall Elimination Provision (WEP), explained
Social Security’s Windfall Elimination Provision, also know as “WEP,” is the bane of many who have earned SS benefits, but who also retired from employment which did not participate in the Federal Social Security program. About 27 U.S. States and…