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Happy New Year from Social Security Report!
Our contributing editors are off on January 3rd for the New Year’s holiday observance. Please check back each Monday through Friday in 2022 for the absolute latest news on all things Social Security. And, don’t keep us a secret. Spread…
Your Next Social Security Check Will Be Bigger
The next Social Security payment you receive should be a bit higher, because the 2022 Cost of Living Adjustment (COLA) of 5.9% will be applied to your December 2021 SS payment, which you’ll get in January. That’s obviously good news…
A Primer on Social Security Disability
Social Security Disability Insurance (SSDI) is, perhaps, one of the most misunderstood areas of the Federal Social Security program. As the name implies, it is essentially an insurance program to protect workers who become disabled and unable to work, but…
Don’t Let Fear Drive Your Decision on When to Claim Social Security
No doubt you’ve heard all about Social Security’s financial woes, because many publications have forecasted a “doomsday scenario” ever since the 2022 report by the Trustees of Social Security was released. That report, which estimates that Social Security’s Trust Fund…
A Call for Focus on Social Security Reform
An article by The Hill Opinion Contributor Nancy Altman underscores the importance of Congress moving America’s retirement income crisis to the front burner. Her article recaps the intent of H.R. 5723, the Social Security 2100: A Sacred Trust bill originated…
The Social Security Dilemma: The Time for Attention is NOW!
It has been called a problem that is not self-correcting, it has been called the pathway to insolvency, and it has been called a Draconian disservice to future beneficiaries. No matter how it is characterized, the fact that Social Security…
Should you collect Social Security early or delay?
You can start receiving your Social Security retirement benefits as early as age 62, the most popular age. However, you are entitled to full benefits when you reach your full retirement age. If you delay taking your benefits from your…
What is the Social Security Bridge option?
What is a Social Security ”bridge” option? According to Alicia H. Munnell and Gal Wettstein with the Center for Retirement Research at Boston College, a bridge option within a 401(k) plan entails using those “assets to pay an amount equivalent…
What your income would be on Social Security alone
According to the Social Security Administration, Social Security benefits represent about 30 percent of the income of the elderly. Also, 37 percent of men and 42 percent of women receive 50 percent or more of their income from Social Security.…
How to calculate the Social Security early retirement penalty
When it comes to your Social Security benefits, you have a lot of choices regarding when to start getting those monthly checks. According to the Center for Retirement Research, the most popular age to claim benefits is 62, while claiming…