Headlines
The Social Security Earnings Test–How it Can Impact Post-Retirement Plans
Much has been written about the absence of substantial savings among future retirees, and one of the reflex actions of many entering into Social Security eligibility is to plan to continue working after claiming benefits before their full retirement age.…
On Social Security’s Solvency: Beware the Naysayers, But Also Be Informed!
America’s Social Security program–often described as the most successful social program in our history–is in trouble. Most everybody is aware of that, at least to some degree. The most recent Social Security Trustees Report suggests that the program’s trust fund…
Larson’s “Social Security 2100: A Sacred Trust” Bill Introduced
Representative John Larson (D-CT) yesterday introduced his “Social Security 2100: A Sacred Trust” legislative proposal in Congress, with Majority Whip James Clyburn, D-S.C.; House Ways and Means Chairman Richard Neal, D-Mass.; Sen. Chris Van Hollen, D-Md.; and other Ways and Means Democrats joining in support…
Yet Another View of the 2022 Social Security COLA
As we mentioned in yesterday’s headline post, and as was highlighted in a headline post last week, the 5.9% cost-of-living-adjustment scheduled to take effect in January will be a welcomed infusion of cash for beneficiaries, but it needs to be remembered…
Social Security’s 2022 COLA: A Tale of Good and Bad
Social Security beneficiaries are looking forward to January and the added 5.9% cost of living adjustment (COLA) in their monthly payments, undoubtedly a welcomed boost to millions of older Americans. It’s an uncommonly large increase. In fact, since the turn…
Retire Early With No Regrets
Reshma Kapadia of Barron’s explains the recent wave of retirements by people not yet eligible for Social Security. The main reason for them is that the economic downturn due to Covid-19 was brief and came amid booming stock and real estate markets. She…
The National Average Wage Index and Calculating Social Security Benefits
Lorie Konish explains the National Average Wage Index (AWI) in this informative piece. The AWI has increased every year from 1951 to 2008 with the exception of 2009 when it declined by 1.5% due to the financial crisis. This lowered benefits for those who became eligible…
A look back at Social Security’s indexing benefits to inflation
How have Social Security benefits changed over the past few decades? Social Security payments have been automatically indexed to inflation using cost-of-living adjustments (COLAs) since Congress put the change into law in 1975. Before that lawmakers had to wrangle over how much…
A Raise That Isn’t and a “New Normal” Few Like
The Social Security Administration announced on October 13th that the cost of living adjustment (COLA) for 2002 will be 5.9%. That’s the highest in 40 years. So why aren’t seniors popping the champagne corks? Simple. It’s not a raise at…
Social Security Benefits Might Get Cut Early — What Does That Mean?
Vance Cariaga addresses the hype that surrounded the release of news that Social Security’s trust funds are due to be depleted one year earlier, now to be 2034. As she notes if Congress fails to address the program’s long-term funding shortfall, the…