Headlines
Another Call for Attention to the Social Security Solvency Problem
There have been many, and here’s yet another one calling for Congress to give serious attention to correcting the longstanding solvency crisis ahead for Social Security. This most recent expression of concern, from the Mid Desert Islander (Maine), echoes what…
The Impact of Inflation on Social Security’s Fiscal Health
It’s a double-edged sword in many respects. While inflation drives the program’s annual cost-of-living adjustment (COLA) and therefore increases the program’s outflow, the steadily increases in the FICA tax wage base compensates with additional tax revenue. This point–characterized by the…
An Examination of the WEP/GPO Elimination Dilemma
One of the issues that surfaces repeatedly in Congress is the potential elimination of Social Security’s Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) rules, and the 117th Congress is currently examining H.R. 82 with this as its…
Delayed Filing For Social Security Benefits…Is It the Right Strategy for You?
Many folks have received advice from their financial advisors to hold off on starting their Social Security retirement benefits, certainly until their full retirement age (FRA) or until age 70 if possible. In many respects, this is a sound strategy,…
Social Security Administration Reopening Most Offices to Public Today
SSA Resuming In-Office Services Today, April 7, the Social Security Administration (SSA) resumed in-office services by both walk-in and appointment for the first time since March 2020 at approximately 98 percent of its more than 1,200 field offices. The SSA…
How to save for retirement without employer-sponsored 401(k)
Saving for retirement can be daunting, especially without an employer-sponsored plan. According to the U.S. Bureau of Labor Statistics, 28 percent of workers in both the private and public sectors did not have access to an employer-sponsored retirement plan. So,…
What Secure Act 2.0 wouldn’t do
As we wait for the U.S. Senate to pass The Securing a Strong Retirement Act, known as the Secure Act 2.0, it is time to review what this bill is trying to accomplish and what it is not. “The Secure…
Social Security facts you should know
According to the Social Security Administration, among the elderly Social Security beneficiaries, 37 percent of men and 42 percent of women receive 50 percent or more of their income from Social Security. Also, the statistics show among elderly Social Security…
Social Security Administration to Resume In-Person Services at Local Social Security Offices
Kilolo Kijakazi, Acting Commissioner of Social Security, announced that local Social Security offices will restore in-person services, including for people without an appointment, on April 7, 2022. However, she suggests to the public “to avoid waiting in line, I strongly…
Could you be a never-beneficiary?
About four percent of the aged population never receives Social Security benefits. These never-beneficiaries include higher proportions of women, Hispanics, immigrants, the never-married, and the widowed than the beneficiary population; never-beneficiaries are also comparatively less educated. So, what can workers…