Latest News
Clearing Up the Rumors on Veterans Benefits, As Well as a Rumor on Prisoner Benefits
One of the more persistent rumors we hear about at the AMAC Foundation Social Security Advisory Service involves the belief that Veterans are missing out on extra Social Security benefits earned as a result of their service. As Social Security…
Stimulus Payments Surface as Another Factor in the “Clawback” Debacle
Amid rhetoric and Congressional oversight reviews of the Social Security Administration’s movement to recover benefit overpayments amounting to more than $26 billion, there’s a new wrinkle. Reports are surfacing of beneficiaries receiving letters requesting repayment of benefits caused by misunderstanding–or…
Deteriorating Faith in U.S. Retirement System Shows Up in Global Study
The newest version of the Mercer CFA Institute Global Pension Index puts the U.S. Retirement system at a mediocre C+ rating, ranking 24th out of the 47 countries included in the ranking. In an article by MoneyWatch reporter Aimee Picchi…
Senior Citizens League pushes for More Effective COLA Process
It hasn’t really changed since cost-of-living adjustments (COLA) became a reality nearly 50 years ago, and the projected 2024 announcement was again based on use of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), a statistic that…
More on Social Security COLA Implications and Consequences
Now that the excitement of Social Security’s 2024 cost-of-living adjustment (COLA) announcement is waning, the smoke is clearing on how the process works–or doesn’t–and what the tax implications are for beneficiaries in 2024. First, a post by The Motley Fool’s…
Qualifying for Social Security – 2024 Requirements
Credits are the “building blocks” that Social Security uses to find out whether you have the minimum amount of covered work to qualify for each type of Social Security benefit (retirement, disability, or survivor) based on your own work record.…
Pros and Cons of Working in Retirement
There are many reasons why folks drawing Social Security benefits continue to work. Some relate to financial necessity, some are driven by the need to stay socially connected, and others simply reflect the curiosity of exploring job opportunities and work…
A Look at Some of the 2024 Social Security Limit Changes
Potentially lost in the excitement of the 2024 COLA announcement, there are a number of limit changes ahead for Social Security participants next year. For example, there’s a higher taxable maximum for earners, along with a higher amount those filing…
Social Security Fundamentals for Those Aging In
As we’ve said many times in posts on this site, Social Security is quite complex, especially for those just beginning to take a look at how and when they should claim their earned benefits. For example, there’s the issue of…
2024 COLA: Don’t forget about Medicare premiums!
The 2024 Social Security cost-of-living adjustment (COLA) announced last week has garnered quite a bit of attention in the media, both positively (it will help beneficiaries recover some of the ground lost to inflation) and negatively (the 3.2% bump is…