Latest News
Illegal Aliens Present Problems for Social Security Administration
A Social Security Administration (SSA) official told Sen. Ron Johnson (R-Wis.) that illegal aliens who receive amnesty and work permits under President Obama’s executive amnesty will soon also be able to collect Social Security benefits. The SSA official was responding…
Do you really need $2.5 million for a good retirement?
You can’t feel secure in retirement if you don’t have a good idea of how much money you’ll need. But if you believe a new Legg Mason survey, you may have to save far more than you think. Investors surveyed by…
Bolinsky Votes to End Taxing Social Security
State Rep. Mitch Bolinsky (R-106) announced his support for a bi-partisan plan to exempt federal Social Security pension benefits from Connecticut state income tax, a measure that has passed a key legislative hurdle by winning unanimous support in the Legislature’s Aging Committee. Currently, a…
Senate Chairman Presses on Immigrant Social Security Numbers
Senate Finance Committee Chairman Orrin Hatch (R-Utah) wants the Obama administration to spill more information about how many immigrants protected from deportation will receive Social Security numbers. In a Monday letter, Hatch charged that the Social Security Administration’s own projections suggest…
Workers Willing to Give Up Raises in Exchange for Secure Retirement Income
As corporations continue to freeze or eliminate defined benefit plans, American workers may be getting increasingly concerned about their financial security in retirement and looking for guaranteed income options. Two-thirds of Americans say they would be willing to give up…
Social Security Watchdog: I See Dead People
The Social Security Administration is either under the impression that the zombie apocalypse is finally happening or it’s just totally oblivious to the fact that it has 112-year-olds living in its database. A new Inspector General report reveals that the SSA’s electronic…
Will Baby Boomers Ever Truly Retire?
Baby boomers realize that their retirements may not unfold like those of their parents. New survey data from The Pew Charitable Trusts highlights how perceptions of retirement have changed for this generation. A majority of boomers expect to work in…
The Average American Retires at This Age. Will You?
Retirement is an important milestone in everyone’s life, and most people plan for years in anticipation of the day on which they leave their jobs for the last time. With many policymakers looking with concern at the need for retirees…
Retirement Plans Would be Required Under New NJ Bill
New Jersey employers with at least 25 workers would be required to offer retirement savings plans under a bill introduced in the Assembly last week. The bill, introduced by Speaker Vincent Prieto, D-Secaucus, and Assemblymen Tim Eustace and Joseph Lagana, both…
Do the research before deciding when to collect social security
A few weeks ago, my good friend Sue called me to get my opinion on if she should start collecting her Social Security. She recently celebrated her 66th birthday, which made her eligible to collect her full benefit. Sue is still…