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Social Security’s Financial Soundness Should Be Addressed Now; Disability Fund Still Projected to Be Depleted Next Year
(Source – American Academy of Actuaries) T he Social Security Trustees Report is a detailed annual assessment that serves as a basis for discussions of Social Security’s financial problems and their solutions. Social Security’s chief actuary prepares and certifies the financial…
The Politics of Medicare and Medicaid, 50 Years Later
(By – Kenneth T. Walsh, www.usnews.com) There’s an important lesson for today’s politicians in the genesis of Medicare, one of the nation’s landmark social programs, which was created July 30, 1965 – 50 years ago this week. It’s that government can do…
Social Security whistleblower claims widows losing thousands due to agency mistakes
(By – LAURENCE KOTLIKOFF, via www.pbs.org) John McAdams works as a Social Security claims authorizer in Philadelphia. He’s worked for the Social Security system for 10 years. At possible risk to his career, John wrote to me blowing the whistle on a…
What the annual Medicare and Social Security reports miss
(By – PHILIP MOELLER, www.pbs.org) Trustees of the Medicare and Social Security programs released their annual reports last week, detailing their operations during 2014 and their outlook for the future. As is the case with these reports nearly every year, they occasioned…
A wise prescription for Social Security Disability Insurance
(Source – www.register-news.com) By this time next year, a crucial federal safety-net program could be out of cash, or almost out of cash. We refer to Social Security Disability Insurance (SSDI), which paid benefits to 9 million disabled workers (and 2…
Medicare And Medicaid Celebrates 50th Anniversary: What Has Changed?
(By – Ted Ranosa, Tech Times) With national social insurance programs Medicare and Medicaid celebrating their 50th anniversary, the Centers for Medicare & Medicaid Services (CMS) has announced that there are now over 55 million people living in the United States…
More American savers skimp on retirement plans
(By – Tom Anderson, www.cnbc.com) Americans are saving more, just not in their employer-sponsored retirement plans, according to a new analysis by retirement market researcher Hearts & Wallets. Average annual household savings increased almost a full percentage point to 5.5 percent last…
5 retirement assumptions you can’t make anymore
(By – Michelle Buonincontri, Credit.com) We’ve all heard the adage “nothing can be certain, except death and taxes.” This line of thought also applies to retirement, as society and financial markets change. Here are a few assumptions many Americans used to be…
House passes cost of living adjustment for veterans’ benefits
(By – Cristina Marcos, The Hill) The House approved legislation on Tuesday that would increase rates of benefit compensation for veterans with disabilities caused by their military service. Passed 409-0, the measure hikes cost-of-living adjustments for benefits offered through the Department of…
Americans Left $24 Billion in Retirement Money on the Table Last Year
(By – Dan Kadlec, time.com) Personal savings rose last year, as conscientious workers reined in their spending. But a smaller portion of those savings were stashed in employer-sponsored retirement plans, new research shows. This and other recent findings suggest that the much-vaunted…