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4 Ways to Outlive Your Retirement Savings
Ever wake up in cold sweat at night wondering whether you’ll outlive your retirement savings? You’re not alone. Many Americans have spent too much and saved too little, and traditional defined-benefit pensions have gone the way of the fax machine, displaced…
Michael Meeropol: Hillary Clinton’s Policy Views On Social Security
Where does Hillary Clinton stand on the various issues related to Social Security? Does she agree with former President Bush that Social Security is going bankrupt or with former Texas Governor Rick Perry that it is a “Ponzi scheme”?….Is she…
House Panel Backs Troop Retirement Overhaul Despite Vets’ Objections
A key defense panel in the U.S. House of Representatives voted to overhaul troop retirement benefits despite objections from members who served in the military. The House Armed Services Committee early Thursday morning voted 60-2 to approve the 2016 National Defense…
Lueck’s Bill to Stop Taxing Social Security Benefits Passes House
A bill Rep. Dale Lueck, R-Aitkin, authored to phase out Minnesota’s practice of taxing Social Security benefits passed the House Wednesday as a provision in the House omnibus tax bill. Estimates indicate Lueck’s provision would provide tax relief in the range…
When is Windfall not a Windfall?
What if the government got rid of the Windfall Elimination Provision? Well, it did in April for some retirees–but unfortunately not those covered under the Civil Service Retirement System….According to the American Federation of State, County and Municipal Employees, nearly…
CBO Examines Impact of Social Security Tax Policy
Growing numbers of Social Security beneficiaries have to pay taxes on those benefits but even that burden falls far below what is assessed against typical employer-sponsored annuities, according to the Congressional Budget Office….“Less than 30 percent of all Social Security…
Ohio Retirees at Forum Push to Expand Social Security
Standing up for retirement security for all Americans during a White House Conference on Aging (WHCoA) regional meeting here Monday, AFSCME Ohio retirees amplified the call to preserve, protect and expand Social Security, Medicaid and Medicare. Retirees continue to make the…
Facing an Unexpected Bill for the Additional 0.9% Medicare Tax?
The additional 0.9% Medicare tax applies to FICA wages and self-employment income exceeding $200,000 per year ($250,000 for married filing jointly and $125,000 for married filing separately). Unfortunately, the withholding rules have been tripping up some taxpayers, causing them to…
For Some Social Security Taxes Can Really Pile Up
Social Security retirement benefits often are entirely tax free, but taxes can apply for affluent retirees with other sources of income. It pays to plan both types of withdrawals. Now that income-tax season has come and gone, plenty of seniors…
Social Security Tries to Balance Online, In-Person Services
A push to expand online services at the Social Security Administration is meeting resistance from a federal union that represents thousands of agency employees and groups that fear the effort will minimize face-to-face help for seniors and the disabled. Tucked into…