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Savings Game for Saturday, April 25
After a recent column about optimizing your Social Security benefits, I received a lot of mail from readers wanting to know more — and to share their frustration. Unfortunately, many readers complained that when they contacted the Social Security Administration (SSA),…
Social Security and You: When in doubt, file claim
I’ve written columns similar to this before, but I must keep repeating the following message: Whenever you are not sure if you are eligible for any kind of Social Security benefit, it never hurts to actually file a claim for…
Why the retirement savings crisis is also a women’s crisis
Here is what we know: The retirement savings crisis is enormous. By some estimates, Americans are under-saved by up to $14 trillion. This number may in fact be understated, because it assumes Social Security and Medicare solvency – a big if.…
Social Security and Medicare Parity Act Reintroduced
Yesterday, Representative Mark Takano (D-CA) reintroduced the Social Security and Medicare Parity Act, which would require the Social Security Administration to treat all married same-sex couples fairly. After the landmark Supreme Court ruling in Windsor v. United States, most federal agencies…
HOW TO CUT FEDERAL SPENDING? LAWMAKERS SAY STOP PAYING DEAD PEOPLE
The Inspector General at the Office of Personnel Management discovered $601 million dollars that were paid to federal retirees in 2011, even though the retirees actually had died during one of the prior five years. “Every day, we have hard choices…
Why the silence about Medicare Part B premium increases under MACRA?
On April 16, 2015, President Obama signed into law the Medicare Access and CHIP Reauthorization Act of 2015 (“MACRA”). This new law raises Medicare premiums for higher-income retirees, who will be paying more for their Part B and Part D…
Congressional Brief: Social Security
Social Security is the cornerstone of retirement security in the United States today. A third of Americans depend on the program for almost all their retirement income; without it, onein-five would have no retirement income. But the program so many…
Rep. DeFazio Introduces Two Bills to Protect Social Security Trust Fund and Keep Program Solvent Through 2057
April 23, 2015. Rep. Peter DeFazio (D-OR) today introduced a pair of bills that would protect Social Security trust funds from being diverted to pay for other programs and preserve Social Security benefits for future generations. The first bill, HR 1984,…
Seniors with HIV face losing disability insurance
When Lewis Nightingale turned 65 in February, he not only reached what is considered retirement age but also hit the end of his long-term disability insurance coverage. Nightingale, who has been living with HIV since 1984, has relied on his long-term…
What Long Life Spans Mean for Your Money and Career
During the 20th century, life expectancy in the U.S. climbed by almost 50%. That has huge implications for our finances. If you had a daughter born in 2000, her life expectancy at birth was age 84, versus 58 for women born…