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Social Security Disability Insurance (SSDI)
It’s not a pleasant topic to think about, but about 12% (about 1 in every 8) workers will at some point become disabled, and that can have a devastating impact on their financial well being. But fortunately, those who pay…
The 2023 Cost of Living Adjustment (COLA): A Sobering View
Media predictions of another historic Cost of Living Adjustment (COLA) coming in 2023 are raising expectations for millions of Social Security beneficiaries. Some pundits are suggesting that those who depend heavily on Social Security may see their monthly check increase…
A Critical Look at H.R. 5723 – the Social Security 2100 Act
Contrary to reports from some media outlets (see yesterday’s post on this website), CATO Institute Director of Budget and Entitlement Policy Romina Boccia reports there is definite movement on H.R. 5723, the Social Security 2100 Act proposed last year by…
Social Security Reform: Some Mixed Messaging
In a post on nationalinterest.org, technology writer Stephen Silver offers commentary on the various congressional messaging surfacing on the subject of Social Security reform. Silver’s article references some of the positions taken recently by various sources, including Rick Scott, Nancy…
Elimination of WEP and GPO…A Continuing Debate
As H.R. 82–the Social Security Fairness Act of 2021–winds its way through Congress, the general question of whether or not the Social Security Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) sections of the Social Security statutes should be…
A Viewpoint on the Adequacy of Social Security COLAs
As we’ve pointed out several times in the past few weeks and months, media projections of a major, inflation-induced bump in Social Security benefits have created the impression that beneficiaries will see an increase of more than 10% come January.…
Views on “Saving” Social Security
In a post yesterday on 19fortyfive.com, Cato Institute Budget and Entitlement Policy director Romina Boccia weighs in with an analysis of actions to be considered in the reforming of Social Security, all geared toward ensuring the program’s long-term survival. The recommendations she…
Negative economic outlook is spilling into retirement worries
The Allianz Life Insurance Company of North America released the findings from their latest research showing the negative economic outlook is causing concerns about retirement savings. The 2022 Q1 Quarterly Market Perceptions Study found less than half of the respondents…
Some of us need more help preparing for retirement
America is in a retirement savings crisis. A recent survey from Charles Schwab reports that “almost half of the participants said inflation was the biggest obstacle holding them back from a comfortable retirement.” Taking care of themselves and their families…
Americans’ retirement savings crisis
There has been an ongoing retirement savings crisis for many years. Even when inflation was nonexistent, interest rates were low, and stocks were in a bull market, Americans were not saving for retirement. The current economic conditions have wiped out…