Headlines
An Analysis of the 2023 Trustees Report
The Social Security Administration’s Research, Statistics & Policy Analysis arm yesterday presented a summary review of the Social Security trust funds. The review follows the Friday publication of the detailed reports on the financial outlook for Social Security’s Old-Age, Survivors, and…
2023 Trustees Report Issued
The Social Security Board of Trustees today released its annual report on the financial status of the Social Security Trust Funds. The combined asset reserves of the Old-Age and Survivors Insurance and Disability Insurance (OASI and DI) Trust Funds are…
Trustees Report to be Released Imminently
The Social Security Administration is expected to release its annual analysis of both the Social Security and Medicare programs by April 1. The former’s two trust funds, dedicated to its retirement and disability benefits, are facing insolvency. Automatic cuts of…
Payroll tax or retirement age hikes? Debate continues.
Lorie Konish summarizes the state of Social Security reform as of this moment. The debate between raising payroll taxes, either by percentages or the amount of wages that are taxable, and raising the retirement age over time splits the two…
A Different Path to Social Security Reform
Chris Pope, a senior fellow at the Manhattan Institute, has an interesting piece on Social Security here that goes beyond the usual demographic and insolvency explanations and solutions. Pope notes the program costs twice as much as like schemes in…
A Biden Backdoor Cut to Social Security Benefits?
Sen. Bill Cassidy (R-LA) has been in the news a great deal as of late sounding the alarm on Social Security’s ill financial health. Cassidy has been working with other senators on proposed solutions, including raising the retirement age. He…
Op-ed: Biden, Macron, and the Politics of Social Security
Ingrid Jacques of USA Today writes here that President Biden might learn a thing or two from French President Emmanuel Macron, namely that people are living much longer and retirement programs must adapt or face insolvency. Macron has been resolute…
The Social Security insolvency app
Americans know that Social Security is facing insolvency in a decade, but what can the average person do about saving Social Security? Mr. Brian Septon, principal at the Terry Group, decided to use the new app from the American Academy…
Retirement preparedness dropped below pre-pandemic levels
According to the latest study from Fidelity Investments, over 50 percent of Americans are falling short of having enough savings to cover everyday essentials when they retire. Only 32 percent of Americans say they are on track to retire comfortably,…
Solo 401(k) and SEP IRA at a glance
Planning for retirement can be difficult and confusing, especially if you are self-employed or a small business owner. The most popular choices are the solo 401(k) and the Simplified Employee Pension (SEP) individual retirement arrangements or SEP IRA. Each one…