Headlines
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…
Claiming Social Security at 62 makes sense
Claiming your Social Security benefits at age 62 is the earliest you can sign up for Social Security and the most popular age. About 34 percent of women and 31 percent of men signed up for Social Security at 62.…
The largest cost-of-living adjustment in 40 years
On October 13th, the Social Security Administration announced the largest cost-of-living adjustment (COLA) in 40 years. The 5.9 percent will be applied to benefits starting January 2022, even if you have not yet filed for your Social Security benefits; anyone…
Social Security Benefits Increase in 2022
(October 13, 2021 • By Darlynda Bogle, Acting Deputy Commissioner for Communications) Approximately 70 million Americans will see a 5.9% increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2022. Federal benefit rates increase when the…
Celebrating National Financial Planning Month by reassessing your finances
Are you struggling with financial matters? If so, you are not alone. According to a recent survey by Capital One and The Decision Lab, more than three in four Americans report feeling anxious about their financial situation. Financial worries include…
Columbus Day Observed Today
AMAC Foundation employees are off this day and thus Social Security Report will return tomorrow with our regular content.
How the IRS taxes Social Security
“Nothing is certain but death and taxes. ”Yes, despite paying taxes your whole working life, your Social Security benefits remain taxable as long as you live. However, the amount of taxes you may owe on those benefits depends on several…
“Government Shutdown” Won’t Affect Social Security Payments
With all the headlines screaming about a possible Government shutdown because of the debt ceiling, many are using scare tactics to further their political agenda suggesting that Social Security benefits won’t be paid if the Government actually does shut down.…
More Alarm Bells on Social Security
It’s not like we haven’t been ringing the bell for a long time. In fact, our headline postings on this site have addressed Social Security’s growing solvency issue a dozen times in just the past month. And today, we’re covering yet…