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Social Security Administration has new way to verify benefit
The Fort Polk Tax Center has previously told tax clients that if they did not have the Social Security cards for those claimed on the tax return they would have to go to the local Social Security office to get…
Boost your retirement savings in 2014
Picture yourself in a retirement lifestyle doing what you’ve always dreamed of doing. Then figure out how you will fund that lifestyle with retirement savings throughout your working life. “It’s good to have an idea of what you want your retirement…
Could Your Grandchildren Ruin Your Retirement?
They were your pride and joy when they were younger, and now your grandkids are on the cusp of adulthood, brimming with promise but low on money. Maybe they’ve asked you to help, or maybe you just can’t stand the…
Coming up: What do I need to know about Social Security?
As a federal employee, Social Security benefits are handled differently depending upon the retirement system that one is in. Join our host, Bob Leins, as he welcomes federal benefits specialist James Marshall into the studio, to discuss Social Security and the…
Duly Noted: Delaying Social Security claims
Delaying a claim for Social Security retirement benefits might not be the best plan for some people if it means they’ll have to deplete their retirement savings accounts, William Byrnes and Robert Bloink write. They explain that for workers who…
CMS Suggests Significant Changes to Medicare Part D and Medicare Advantage Prescription Drug Plans
On January 6, 2014, the Centers for Medicare and Medicaid Services (“CMS”) issued a proposed rule, “Contract Year 2015 Policy and Technical Changes to the Medicare Advantage and the Medicare Prescription Drug Benefit Programs,” (the “Proposed Rule”) with public comments…
Social Security Cheats Bilk Taxpayers in the Billions
Congress is demanding a “top-to-bottom” investigation into the Social Security Administration after a spate of high profile fraud cases have resulted in the loss of billions of tax dollars. During a hearing Thursday morning, Rep. Sam Johnson (R-TX), the chairman of…
Defined Benefit Plans: The Overlooked Retirement Vehicle For Successful Entrepreneurs
While they were once a crucial element of the American retirement landscape, defined benefit plans – pension plans, in laymen’s terms – have fallen out of favor in recent years, having taken on negative connotations in the wake of the financial crisis. Fair…
The New York City Fraud Allegations
Here is the description of the alleged disability fraud conspiracy in New Yorkgiven by Social Security’s Inspector General to the House Social Security Subcommittee today: Upon retiring from the NYPD [New York Police Department] or FDNY [New York Fire Department] (a…
You Think The Deficit Is Bad? Federal Unfunded Liabilities Exceed $127 Trillion
While federal unfunded liabilities are important, state-level unfunded pension liabilities also pose serious obstacles. In Texas, the recent 2013 Employees Retirement System (ERS) Valuation Report outlines the funding shortages this pension system faces and there is some indication it may be unable to pay beneficiaries by…