Latest News
Outdated Rule Will Blunt the 8.7% COLA for Many
The 8.7% cost of living adjustment (COLA) is welcomed by those receiving the boost this month. But beware. Maurie Backman suggests caution is in order. While the 2023 COLA is generous by historical standards, it may not go as far…
Six Social Security Changes That Took Effect January 1st
Sean Williams cites data from the Center on Budget and Policy Priorities noting that Social Security pulled nearly 22.5 million people out of poverty in 2020, including 16.1 million adults aged 65+. While no substantive changes to the program have…
Score a Richer Monthly Social Security Payout
Ryan Downie echoes here what many experts say to do to maximize Social Security benefits. One, delay as long as possible. Waiting until age 70 will yield the highest monthly payout for life. Two, work 35 or more years. Anything…
Secure 2.0 Enables Additional Penalty Exceptions for Retirement Account Withdrawals
Prior to Secure 2.0 and the recently-passed House Spending Bill, there were 10 provisions for penalty-free withdrawals from a qualified retirement account. Now, with passage of this bill, there are four more. In a post by CNBC Personal Finance Reporter…
ICYMI: Social Security Recently Launched a New Homepage
Kilolo Kijakazi, acting commissioner of the Social Security Administration, recently announced the launch of a new look for the SSA’s homepage. The new look, according to Kijakazi, brings with it “improved self-service capability” designed to help eliminate calls or visits…
The Ups and Downs of Medicare Costs in 2023
2023 is just around the corner…two days away, as a matter of fact…so now’s a good time to catch up on some of the cost provisions changing in Medicare for next year. For example, while the standard Part B premium…
Avoiding the Scammers–Some Tips and Techniques to Protect Yourself
We post fraud protection advice periodically, primarily because we recognize the magnitude of the problem and because it’s a good way to keep everyone on their toes, especially around the holidays. The scammers never take a break, and it’s especially…
Considering early filing? Here are some analyses that will show you the advantage of not doing this.
One of the persistent questions we receive here at the AMAC Foundation Social Security Advisory Service is “when should I claim my benefits.” And, as we typically say in response, “it depends.” It actually depends on many factors, one of…
A Disability Determination Complication–Outdated List of Job Opportunities
The Social Security Disability benefits application process is complicated, and wending one’s way through the rules and regulations can be arduous. Given the toll it takes on applicants just to get to a hearing on eligibility, imagine the feeling of…
Don’t let the rumor mill influence your Social Security claiming decision
One of the key, fundamental decisions you’ll need to make when it comes to filing for Social Security benefits is that of picking an age at which to file. If you talk to your neighbor, you’ll likely get advice that…