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3 tips for coping with premature retirement
Here’s a slightly startling pair of statistics, courtesy of Encore contributor Glenn Ruffenach: In a recent Gallup survey of currently employed workers, the average age at which people said they expected to retire was 66. But in a simultaneous survey of…
5 Myths Surrounding Social Security
Given the fact that millions of Americans count on Social Security to bolster their retirements, it’s a mystery why so many people have a skewed viewpoint on one of Uncle Sam’s most critical entitlements. Certainly, many Americans are counting on Social Security as…
Let’s make Social Security solvent and sustainable: Editorial
It’s not so hard to figure out how to fix Social Security. Plenty of analysts have arrived at ways to keep the nation’s most successful government program from running short on money in 20 years. Many different combinations of policy…
Social Security-wise, 70 may be new 65
Have you heard that 70 is the new 65? If not, you will. Momentum is growing to get people to think that way before retiring. The notion is being trumpeted in the nation’s capital as a way to ease pressure on…
UNDERSTANDING SOCIAL SECURITY: What ‘Chained CPI’ Is – Why It Hurts
Following the recent government shutdown, Congress agreed to appoint some members to a bipartisan committee in an attempt to find common ground to adopt a budget for the coming year. One proposal we keep hearing about is adopting a “chained CPI”…
Inflation boosts payouts to retired feds, Social Security recipients
Federal retirees, Social Security recipients, military retirees and beneficiaries of several other government programs will receive an increase of 1.5 percent in their benefits in January. The cost-of-living adjustment, or COLA, is based on a figure announced this Wednesday by…
Why raise the full retirement age?
Last week’s blog post argued that Social Security’s real retirement age is 70. Monthly benefits are highest at age 70 and are actuarially reduced for each year claimed before that age. Claiming at 62 instead of 70 lowers a hypothetical monthly benefit from…
What to Do When You Are Advised of a SSI Disability Overpayment
Over payments occur when Social Security pays an individual more disability, retirement, or dependents benefits than he or she was due, often because one’s income, resources, marital status, or living situation has changed. When Social Security discovers that it has…
Federal and Social Security pensioners beware
FOR the life of me I cannot understand how Congress without any quilt can continue to shaft the senior citizens. But they are about to do it again to those under Social Security and federal pensions if action is not…
2014 SOCIAL SECURITY CHANGES
Based on the increase in the Consumer Price Index (CPI-W) from the third quarter of 2012 through the third quarter of 2013, Social Security and Supplemental Security Income (SSI) beneficiaries will receive a 1.5 percent COLA for 2014. Other important…