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TAX BREAK BILL: A New Bill in the Minnesota House of Representatives Would Create a Tax Break for Seniors
With a nearly $2 billion projected surplus in Minnesota, ideas are flying around the capitol on what to do with the extra money. House Republicans have an idea on their plan to give back some of that money to taxpayers by…
Gov. Charlie Baker Aims to Trim State Workforce by 4,500 Through Early Retirement Incentives
Gov. Charlie Baker released a plan this week to trim the state workforce through early retirement incentives. The plan was greeted with caution by legislative leaders and a state employees union, who said they needed to learn more about the…
Social Security Disability ‘Ticket to Work’ Website Has Been Redesigned
The Ticket to Work program recently launched a redesigned beneficiary website at www.choosework.net. The website is part of Social Security’s efforts to help people with disabilities who want to work find and keep a job to reduce or eliminate their need for…
The Danger of Overestimating Social Security Payments
On a recent plane ride, I overheard a woman say that her sister was comfortable financially and could retire but she’s going to work another 10 years just to maximize the amount of Social Security she will receive. The woman indicated…
Women Lagging in Retirement Saving: Survey
American women save far less for retirement than their male peers, and they invest too conservatively to close the gap, according to a new survey asset management firm BlackRock will release March 5. CNBC was granted exclusive early access to…
Phasing Out Social Security Tax on Seniors Considered
A Minnesota House committee dealing with aging Minnesotans voted last Wednesday to phase out the tax the state charges on Social Security benefits. The House Aging and Long-Term Care Policy Committee sent five bills to get rid of the tax to the…
Hearing Draws Attention to Social Security Shortfall
A hearing by the House Ways and Means Social Security subcommittee last week drew attention to the impending insolvency of the Disability Insurance (DI) trust fund in 2016. While there were some disagreements, there was also a clear bipartisan consensus…
Tax Breaks for Seniors, Veterans Advance in House
Minnesota House Republicans went to work today on their pledge to give back to taxpayers a majority of the state’s nearly $1.9 billion budget surplus. Members of the House tax committee heard several GOP-backed bills to exempt Social Security income from…
How Big a Role Should Social Security Play in Your Retirement?
Social Security is still a huge part of U.S. workers’ retirement plans, but they aren’t happy about it. As a Bankrate survey points out, Americans are getting a bit more pragmatic about Social Security’s role in their eventual retirements. Just 13%…
Say Happy Birthday to Social Security Then Start Saving More
Come August, it will be 80 years since the passage of the Social Security Act. Proposed and passed under the Administration of Franklin Roosevelt in 1935, this income safety net has served hundreds of millions of Americans. By the end…