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Key Social Security Changes in 2022–Some Affecting SSA Funding
Everyone on Social Security is aware of at least one change in Social Security benefits–the 5.9% COLA that hit on January 1. Of course, there are other routine changes in program factors, like an increased earnings limit, an increase in…
Social Security Alert: Marriage Changes Things, but You Need to Report Status Changes to SSA
The editorial staff at gobankingrates.com yesterday posted a reminder that any changes to marital status need to be reported timely to the Social Security Administration, noting that these changes must be reported within 10 days after the end of the…
Inflation and Retirement Plans: Yes, There’s a Close Relationship
Postponing retirement has become a norm for about a quarter of Americans planning to transition from careers to a post-career life, according to the results of polls for the BMO Real Financial Progress Index published last week. Even more to…
Medicare: A Brighter Spot on a Dismal Financial Landscape, But Don’t Relax
The Medicare Trustees, in their 2022 report to Congress and the American people, note that the full depletion date for the key Medicare trust fund has been moved backward by two years, from 2026 to 2028. That means that the…
Social Security 101: A Quick Assessment of What You Should Know
Yes, Social Security is confusing to those who look at it for the first time. That’s why the AMAC Foundation operates a free service, its Social Security Advisory Service, for folks having questions about the options available to them under…
Working in Retirement? Will it Bump Up Your Social Security Benefit?
Maybe, maybe not. More to the point, probably not. A post on Community99.com provides an analysis of, first, how the benefit calculation takes place when you file for Social Security, and then how earnings after beginning to draw retirement benefits…
Did you forget your old 401(k) plan?
Many of us who have quit a job have forgotten to take something with us, be it a sweater or plant, but did you forget to take your 401(k) plan? There were nearly 25 million forgotten 401(k) accounts with an…
Three reasons why you should not take your benefits at 62
You can start receiving your Social Security retirement benefits as early as age 62. However, you are entitled to full benefits when you reach your full retirement age. If you delay taking your benefits from your full retirement age up…
The Great Reshuffle
The Great Reshuffle, term used during the pandemic layoffs, was the route to longer-term joblessness and retirement for 57 percent of the respondents to a recent CNBC All-American Workforce survey. The survey respondents were 1,200 currently employed people and another…
Do you know what a prior authorization is?
In 2021, 90 percent of Medicare Advantage enrollees were in health plans that require prior authorization for procedures and lab tests. Does your Medicare Advantage plan require prior authorization? Do you know what prior authorization is or that it goes…