Headlines
Elimination of WEP and GPO…A Continuing Debate
As H.R. 82–the Social Security Fairness Act of 2021–winds its way through Congress, the general question of whether or not the Social Security Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) sections of the Social Security statutes should be…
A Viewpoint on the Adequacy of Social Security COLAs
As we’ve pointed out several times in the past few weeks and months, media projections of a major, inflation-induced bump in Social Security benefits have created the impression that beneficiaries will see an increase of more than 10% come January.…
Views on “Saving” Social Security
In a post yesterday on 19fortyfive.com, Cato Institute Budget and Entitlement Policy director Romina Boccia weighs in with an analysis of actions to be considered in the reforming of Social Security, all geared toward ensuring the program’s long-term survival. The recommendations she…
Negative economic outlook is spilling into retirement worries
The Allianz Life Insurance Company of North America released the findings from their latest research showing the negative economic outlook is causing concerns about retirement savings. The 2022 Q1 Quarterly Market Perceptions Study found less than half of the respondents…
Some of us need more help preparing for retirement
America is in a retirement savings crisis. A recent survey from Charles Schwab reports that “almost half of the participants said inflation was the biggest obstacle holding them back from a comfortable retirement.” Taking care of themselves and their families…
Americans’ retirement savings crisis
There has been an ongoing retirement savings crisis for many years. Even when inflation was nonexistent, interest rates were low, and stocks were in a bull market, Americans were not saving for retirement. The current economic conditions have wiped out…
Women and Social Security
Social Security provides benefits and financial protection for women. Nearly 55 percent of the people receiving Social Security benefits are women. More women work, pay Social Security taxes, and earn credit toward monthly retirement income than at any other time…
Why a large COLA increase may not be a good thing
The Social Security Administration’s Cost-of-Living Adjustments, or COLA, is based on the Consumer Price Index for all Urban Wage Earners and Clerical Workers. The average CPI-W for the third calendar quarter of last year is compared to the average CPI-W…
A Call to Strengthen & Expand Social Security – Even in the Face of Insolvency
Max Richtman’s op-ed in The Hill chronicles the history of Social Security from its passage in 1935 to the current time. He notes the program has expanded many times along the way, mainly to cover more workers, such as domestic…
Website Upgrades to Social Security
Boston University economics professor Larry Kotlikoff gives a comprehensive review in Forbes of recent changes and upgrades to Social Security’s main website. Among the improvements are the ability to update basic information like phone number, address, and bank account online, long…