Headlines
Changes to retirement savings in 2025
With the new year starting and soon a new administration, what will this mean for retirement savings? Will Americans be encouraged to save more for retirement, and will new laws be passed to incentivize investment in 2025? Lynn Cavanaugh asked…
When will HR 82 be signed?
According to a Facebook post by the National Fraternal Order of Police, President Biden may sign the Social Security Fairness Act on January 6th, but this has not been confirmed. The Social Security Fairness Act will repeal the windfall elimination…
WEP-GPO Repeal: The Easy Way Out?
The Senate and House of Representatives have blessed the Social Security Fairness Act, and final enactment into law rests with President Biden. While he’s expected to sign the bill, there is a bit of speculation about the impact it will…
Age 65 Retirement: Questioning an Old Norm
For the first five decades or so, age 65 was considered the default retirement age. It was the age at which you would receive the full retirement benefit calculated based on your earnings record. That all changed with the 1983…
What To Expect in 2025 for Social Security
Newsweek reports here that as the new year approaches, retirees and other Social Security recipients should be aware of several changes to benefits and services provided by the Social Security Administration (SSA). Not only are benefits boosted 2.5% but the…
Social Security: The insolvency problem & a balanced solution to it
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…
Christmas Greetings from the Social Security Report Editorial Staff!
On behalf of the Association of Mature American Citizens and the AMAC Foundation, the Social Security Report’s editorial staff extends to all of its readers a sincere wish for peace, comfort, and joy during this Holiday Season.
Average Social Security Benefits at Various Ages & The Optimal Claim Age
Sean Williams provides some exhaustive analysis and research here. Williams notes the four criteria that go into calculating benefit amounts, and he lists average benefits for people aged 62, 67, and 70. One comprehensive study shows that, statistically, one claiming…
WEP and GPO Repealed Pending Biden’s Signature
The Social Security Fairness Act passed the Senate 76-20 over the weekend. The GOP was split evenly 20 for and 20 against the bill. It repeals two federal policies — the Windfall Elimination Provision (WEP) and the Government Pension Offset…
WEP-GPO Bill Set for Final Vote Today
Via Unanimous Consent Agreement, the Senate voted yesterday to move H.R. 82 (Social Security Fairness Act of 2023) to a final vote today. The agreement overcame intense discussions on the lack of offsets to the bill’s nearly $200 billion price…