Headlines
What you don’t know about Social Security can hurt you during retirement
The January 2018 snapshot from the Social Security Administration shows that the average monthly payout is just $1,407. This, according to a study from the Centers on Budget and Policy Priorities, is more than enough to keep over 15 million…
Delaying your wedding or divorce to get the best Social Security benefit possible
Seniors considering marriage need to plot out their strategy carefully when it comes to claiming Social Security. There are some important rules you need to know to time your wedding to maximize your Social Security benefits. Mike Piershale, CHFC, outlines…
How Social Security Helps Women Secure Today and Tomorrow
March is Women’s History Month — a time to focus not just on the past, but also on the challenges women continue to face in the 21st century. Today, more women are working than ever before, paying Social Security taxes,…
Employers might help you maximize your retirement income
As millions of older workers are approaching their retirement with modest savings, they are wondering if they will have enough money to live comfortably in retirement. For many workers, Social Security will provide the largest portion of their retirement income…
SSA Inspector General reporting $131.8 million in underpayments
The Social Security Administration Inspector General is reporting an estimated 11,123 Social Security beneficiaries were eligible for higher benefits had they delayed claims until age 70; however, they were misinformed by employees of the Social Security Administration resulting in about…
Employers making enhancements to their retirement plans
A recent survey conducted by Willis Towers Watson found that employers are making significant enhancements to their defined contribution (DC) plans by adding automatic features, offering Roth 401(k)s, boosting their matches, streamlining investment choices and improving fee transparency. Tammy Hughes,…
The power of working longer
Are you one of the many older workers with meager retirement savings wondering what you can do to improve your financial security in retirement? According to a recent paper written by a team of researchers led by John Shoven at…
Filing for Benefits at Age 70: Waiting is the Hardest Part, But it Can Pay Off
According to reports published by the Center for Retirement Research at Boston College, “only 2 percent of men and 4 percent of women wait until 70” to claim their Social Security benefits. For those who elect to wait as long…
The “Spend Safely in Retirement Strategy”–An Approach for Older Workers?
The Stanford Center on Longevity (SCL) and the Society of Actuaries (SOA) have joined forces to help address the dilemma faced by older workers dealing with the absence of a defined-benefit pension plan. Their recommendation is a fairly straightforward approach…
SSA Inspector General: Review Indicates Potential for Overpayments
An Audit Report issued by the Social Security Administration’s (SSA) Office of the Inspector General detected, based on the sampling methodology used in the audit, inconsistencies in the recording of Self Employment Income (SEI) and the manner in which earnings…