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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…
Welfare, Unemployment, and Social Security
What do welfare programs like food stamps, unemployment compensation, and the Social Security program have in common? The answer is little, but that could change. Mention the very word “welfare” to almost any voter, regardless of party, and the reaction…
GOP Seeks Clarification of Authorities & Term of Acting SSA Commissioner
PRESS RELEASE from Rep. Kevin Brady, Ranking Republican on the House Ways & Means Committee Top Republicans have requested clarification from U.S. Comptroller General Gene Dodaro on the authorities and the term of an Acting Commissioner of the Social Security Administration…
Big COLA Coming But How Far Will it go? Medicare Goes up too.
Lorie Konish of CNBC notes what many are predicting for next year’s cost of living adjustment– it’s expected to be the highest in 40 years at over 6%. She explains that the increase merely allows one to keep up with…
The Easiest Social Security Mistake to Avoid
Claim at age 62 and forget about it is the unfortunate mantra of a majority of those applying for first time Social Security benefits. But what so many do not understand is that claiming at 62 means a permanent reduction…
A Thorough Explanation of Cost of Living Adjustments
Seniors know they get a cost of living adjustment (COLA) every January 1st, though the increase has been 0% several times in recent years. Sean Williams explains in great detail the rather strange way this calculation occurs, in that it…