Headlines
2024 Social Security Trustees Report Published–Shows One-Year Improvement in Solvency
The 2024 edition of the Old-Age, Survivors, and Disability Insurance (OASDI) program (Trustees Report) was issued yesterday afternoon. As noted in SSA’s press release announcing the report on 2023’s operations, “The combined asset reserves of the Old-Age and Survivors Insurance…
Retirement Financial Preparedness…A Growing Concern
Calling it a “growing problem” with the potential for a “notable impact on the U.S. Economy,” The Financial Brand’s Craig Guillot analyzes a looming financial problem facing a large swath of Americans approaching the traditional retirement age of 65. Guillot’s…
A Primer on Social Security’s Problems & A Solution
What’s all this talk about Social Security’s problems all of a sudden? Why not just leave the program alone? Is Social Security going bankrupt? So what can be done? Are there pros and cons to each? Why not just raise…
New COLA calculation bill in Congress
Erin Bendig of Kiplinger explains a new bill in Congress that could result in a change to Social Security cost of living adjustments (COLAs) that could benefit retirees. The Boosting Benefits and COLAs for Seniors Act, proposed by Rep. Ruben Gallego (D-AZ) and Sen. Bob Casey (D-PA),…
Americans Understand Neither Annuities Nor Social Security
Daniel de Visé analyzes data from two recent studies showing that Americans have poor literacy when it comes to annuities. Yet the author believes that an annuity, which is a series of fixed, predictable payments made at regular intervals over…
The election & Social Security’s future
Lorie Konish of CNBC says Social Security is on the ballot this fall. She explains the various bills in Congress on both sides of the aisle. Democrats are championing tax increases and Republicans have suggested raising the retirement age over…
Social Security & Inflation: Keeping Up or Losing Ground?
Tami Luhby of CNN writes here that Social Security is not keeping up with inflation and that many seniors may exact their ire over the issue at President Joe Biden. Two recent cost of living increases (5.9% in 2021 and…
Revisiting WEP And GPO
One of the most nagging criticisms of the U.S. Social Security program is found in the persistent outcries of unfairness from the people affected by two scorned sections of the program’s massive rulebook. Anyone following legislative activities involving Social Security…
Taxing-the-Wealthy Theme Highlighted Via Survey
As we’ve been suggesting for several months, legislative interest in addressing Social Security’s steadily unraveling financial picture appears to be heating up. That’s understandable, with the clock ticking louder and louder as the 2033 point of trust fund insolvency moves…
WEP-GPO “Fairness” Examined in House Ways & Means Hearing
FEDweek, a federal and military employees’ and retirees’ information source on pay and benefit issues, yesterday published a recap of last week’s House Ways and Means Social Security Subcommittee hearing on the perceived “fairness” or “unfairness” of Social Security’s Windfall…