Headlines
Don’t Change Your Social Security Plans Because of Possible Benefit Cuts
On the heels of the recent Social Security Trustees report comes articles trumpeting the Trustees current belief that Social Security’s reserves will be depleted in 2034. That this is not new news sometimes gets lost, and could make people think that claiming their…
“Social Security Insolvency” – Doomsday Scenario or Not?
You may have noticed a flurry of media stories about the impending insolvency of Social Security and resulting benefit cuts. Most of these stories relate the news as a “doomsday scenario” where seniors who depend on Social Security are at significant…
Social Security’s “Representative Payee” Program
As the name suggests, a Social Security “representative payee” is someone who represents, and manages money for, another person who cannot handle their own financial affairs. The representative receives the incapable person’s Social Security benefits and uses those funds only to provide care for the incapable person. As…
About Fixing Social Security’s Finances
The just-released report from the Social Security Trustees has some good news, but more bad news. The good news is that there was an $11 billion surplus in the year 2020 which brought Social Security’s Trust Fund reserves up to…
Labor Day 2021
As we celebrate this 2021 Labor Day Federal holiday, it is good to remember that the day is not only about barbeques and gatherings with family and friends – rather it’s a celebration of the social and economic achievements of American workers.…
The decision about when to claim Social Security retirement benefits
As you approach retirement age, you will need to decide when to begin your Social Security benefits. Individuals planning for their retirement should be aware your Social Security benefits will depend on your retirement age. If you start receiving benefits…
Answers to some of your questions on Social Security
Social Security is complex with all its rules, but it is essential to understand at least the basics of the program. Such as, what is your full retirement age, claiming your benefit early results in a permanent reduction, delay claiming…
Social Security Board of Trustees: Combined Trust Funds Projected Depletion One Year Sooner Than Last Year
The Social Security Board of Trustees today released its annual report on the long-term 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…
Medicare Part B premiums could eliminate your increase in 2022
Almost every year, the Social Security Administration adjusts the value of the Social Security benefits based on the yearly Consumer Price Index (COLA) provided by the Bureau of Labor Statistics. According to the Senior Citizens League, the increase set to…
How much extra could Social Security beneficiaries receive in 2022?
In 2021, an average of 65 million Americans per month will receive a Social Security benefit, according to the Social Security Administration. The Social Security Administration states, among elderly Social Security beneficiaries, 21 percent of married couples and about 45…