Headlines
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…
More on the Social Security “Bankruptcy Myth”
Yes. Social Security is in trouble. But no, contrary to what 78% of the respondents to the 2017 Nationwide Retirement Institute survey believe, it will not go bankrupt. Current projections are that the Social Security Trust Fund will, in less than…
Financial Assets Are Taking Center Stage for Future Retirees
“Retirees are becoming more dependent on financial assets to maintain their standard of living because of the shift in retirement savings from defined benefit pensions to defined contribution plans and because Social Security is expected to replace a smaller share…
The “New” Retirement Landscape
Most people know that the average life expectancy for Americans has increased more than 30% over the 80+ years that Social Security has been around. On the one hand, that’s great. On the other hand–the financial planning hand–that could be…
Social Security benefits for non-citizens
There is a lot of emotion surrounding this topic, but it is true that certain people who are not U.S. citizens can, in fact, get Social Security benefits.That does not include anyone who is in this country illegally, even if…