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A Moment in Social Security History
The Social Security Act was signed into law by FDR in 1935, thus launching a program which, 88 years later, still provides a significant degree of financial security to American seniors, the disabled, and minor dependents. Notwithstanding some of the…
Can I Work While Collecting Social Security Disability?
The short answer to that question is, yes, but only on a limited basis. Social Security Disability Insurance (SSDI) benefits are, after all, intended as a lifeline to those who have contributed to Social Security but have become disabled and…
The History of Labor Day
Although Summer as a season doesn’t actually end until later in September, most northern resort areas start closing up shop immediately after Labor Day. These days, many think of Labor Day as merely another holiday, offering a three day respite…
These rules dictate how much you will receive in retirement
The Social Security Administration reports that 31 percent of the workforce in private industry have no access to pension coverage, and only 16 percent of those without access said they have any retirement savings. A recent Nationwide Retirement Institute survey…
Replacement rates
You may have heard financial experts use the words- replacement rates -but what does that mean? Replacement rates are common and useful tools by which individuals and policy analysts plan for retirement by assessing the sufficiency of Social Security benefits…
Are you familiar with the 414(h)plan?
The most common type of employer-sponsored retirement plan is a 401(k); however, certain employees may have access to a 414(h) plan instead. A 414(h) plan, also called a pick-up plan, offers people who hold government jobs a tax-advantaged way to…
This one mistake could cost you thousands of dollars
One result of the “Great Resignation” is retirement accounts left behind as people quit their jobs. According to a recent report from Capitalize, “3.8 million retirement accounts were left behind in 2021 and 4.4 million in 2022, representing roughly $30…
You’ll need more than just Social Security to retire comfortably
The Social Security Administration has found among elderly Social Security beneficiaries, 12 percent of men and 15 percent of women rely on Social Security for 90 percent or more of their income. Social Security alone is not enough to retire…
COLA Countdown: Bracing for A Drop-off from the Past Two Years
We’re about a month and a half away from the official announcement of 2024’s Social Security cost-of-living adjustment (COLA), and the airwaves have come alive with commentary about what is expected to be a substantial reduction from the 2022 (5.9%)…
The Potential Impact of AI on Social Security’s Future
Although artificial intelligence (AI) is still a relatively new technology, its fast-paced arrival in the business world and the projections for its rapid expansion have many pondering what the long-term effects on the workforce will be. And as soon as…