Headlines
The True Origin of Social Security’s Solvency Problem?
Much has been written about Social Security’s impending 2022 trust fund depletion and the reduction in benefits that would be felt across the board when the reserves are gone. Most of the rhetoric over the past few years has focused…
Social Security’s Overpayment Problem to get Congressional Attention
The much-publicized effort by the Social Security Administration to recover more than $26 billion in payments mistakenly made to beneficiaries will be subjected to a hearing by the House Ways and Means Social Security Subcommittee this week, according to a…
CPI-E vs. CPI-W? A Look at What the Diffrerence would be.
The issue of how best to calculate the annual cost-of-living adjustment (COLA) for Social Security beneficiaries has surfaced as part of the discussion on reforming this massive senior benefit program, and some have advocated for an approach that better fits…
What Does Social Security Have to do with the House Speaker Fight?
Alex Gangitano, writing in The Hill, alludes to the fact that GOP Rep. Steve Scalise (R-LA), a leading contender to be House Speaker, supports setting up a bipartisan commission to address the national debt, including looking at the Social Security…
Breaking News: COLA 2024 Announced
The Social Security Administration announced a cost of living adjustment (COLA) on October 12, 2023, of 3.2%. This means that effective with the January 2024 payment, one receiving a near average benefit of $1,800 per month will soon receive $1,858…
Halting Social Security From Clawing Back Overpayments Will Further Hurt its Finances
Social Security’s finances are in poor shape. That makes it important that the program do what it can to conserve funds and snag all the revenue it can get. One way it’s been trying to go about that is aggressively…
Mark your calendars
Mark your calendars; the Social Security Administration will announce the 2024 cost-of-living adjustment on Thursday. However, Social Security recipients should see a significantly lower increase than last year’s 8.7 percent. Based on August inflation data, Mary Johnson of the Senior…
Columbus Day Holiday
The staff at Social Security Report are off today for the federal holiday, Columbus Day. It is a national holiday in many countries of the Americas and elsewhere to officially celebrate the anniversary of the Genoese explorer who led a Spanish enterprise across the Atlantic Ocean in…
Social Security Will Not Provide Sufficient Retirement Income
The latest research from Vanguard found that Social Security will not provide adequate retirement income for low-income workers. The report states, “The goal for an average saver is to replace at least 70% to 85% of pre-retirement income in retirement,…
Say what you may about the millennial workers, but….
Say what you may about millennial workers, but they are out saving the older workers. The latest Vanguard report found millennial workers are ”set to replace 58 percent of their prior earnings during retirement.” The experts point to developments within…