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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…
You’re Retirement Age With Nothing Saved For Retirement. Now What?
Imagine that you’re 55 or 60 years old with nothing saved for your golden years. Oh wait, that’s roughly four out of 10 Baby Boomers now. New research from the Insured Retirement Institute found that only 60% of Boomers have socked away…
Americans don’t like big government – but like many programs: poll
Conservative presidential candidates hitting the 2016 campaign trail are firing up crowds with calls to shrink the U.S. government, but a new poll shows that Republican voters who rally to that cry still want to maintain many federal programs. Ideas such…
Vision 2025 – Social Security’s Strategic Plan
Message from Carolyn W. Colvin, Acting Commissioner Vision 2025 is our agency’s call to action to preserve and fulfill our social contract, which emerged as the foundation of our agency 80 years ago, and remains a motivating force for us today. Our…