Headlines
Spotlighting the Inadequacy of Social Security’s COLA
Against a statistical backdrop that shows the gulf between the growth rate of Social Security’s cost-of-living adjustments (COLA) and the growth rate for Medicare premiums (hint: the latter paces the former by about 3 to 1), The Senior Citizens League (TSCL) calls for a…
No Social Security for Illegal Aliens Act of 2020 (HR5577)
Observing that “The prospect of ‘free’ government services and benefits is a giant magnet for illegal aliens,” Rep. Mo Brooks, R-Alabama introduced the “No Social Security for Illegal Aliens Act of 2020” (HR 5577) in the 116th Congress on January 10, 2020.…
Dispelling the Social Security Bankruptcy Myth
You’ve heard us say it time and time again, and we’ll continue to explain it to the many, many folks who contact our Social Security Advisory Service: Social Security is not going bankrupt! But don’t let that basic fact lull you…
Social Security Trust Fund eked out its smallest net-cash surplus since 1982.
We have all heard that Social Security’s long-term outlook is not good. Each year, The Social Security Board of Trustees release its short-term (10 year) and long-term (75 year) outlook for the program and since 1985, the Trustees have warned…
Some basic Social Security rules you should know
A majority of Americans do not fully understand how Social Security works. According to a recent survey from Nationwide, 91 percent of those 50 or older don’t know what factors determine the maximum Social Security benefit an individual can receive. …
Want a higher Social Security check?
Will you be one of the 21 percent of married couples, or one of the roughly 45 percent of unmarried persons, that will rely on Social Security for 90 percent or more of your income? If so, then it pays…
Study shows retirement crisis is real for many
A recent report from The New School Schwartz Center for Economic Policy Analysis found Social Security benefits can help partially offset unequal wealth distribution precipitated from the employer-based retirement system. The report found Median accrued Social Security benefits were $81,900…
Relying on Social Security alone is a horribly bad idea
Social Security is meant to replace approximately 40 percent of the average wage-earner’s pre-retirement income. However, it is estimated that 12 percent of Americans aged 65 and over have less than $1,000 in a retirement savings plan which means they will…
Should you claim early because of Social Security’s financial woes?
By now, everyone is probably aware that Social Security, America’s most important retirement program, is facing financial issues which will become a crisis in about 2035. That’s the date that, lacking any action by Congress, the Social Security Trust Fund…
Your 2020 Social Security Update
As is his custom, venerable Social Security columnist Tom Margenau, retired after many years with the Social Security Administration, provides his readers with an annual update of Social Security changes in the new year. In this article appearing in the…