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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…
Best ways to do business with Social Security
Many people save time by going online to take care of everyday tasks. For example, they shop online to avoid going to crowded malls or stores. They pay bills and check their account balances online to save a trip to…
Will Social Security increase cover expenses?
Social Security benefits are going up 1.5%, about $19 in 2014. The annual cost of living adjustment is based on a government measure of inflation. But are the benefits keeping up with the cost of living and tax contributions? Some…