Latest News
Statement from Kilolo Kijakazi, Acting Commissioner of Social Security, about Agency Reentry
A Press Release on the SSA.gov website this week reported that the agency has “… successfully reached agreement with our three labor unions on our reentry plan.” The full press release can be read here… Left unsaid in the press…
A Quick Primer on How Benefits Are EArned and When They Can be Claimed
There is a bit of mystery surrounding how one qualifies for Social Security benefits and how much they are qualified to receive, as well as how earnings are credited and when one can begin to draw on the earned benefits.…
A Look At Social Security’s “Do-Over” Option
Many folks file to receive Social Security benefits before their full retirement age–in fact, age 62 is the most frequent age for most filers. Unfortunately, those who file early eventually come to regret it, especially when they realize they’ve locked…
Filing for Medicare and Filing for Social Security Benefits…Not Necessarily Tied Together
One of the frequent misconceptions we encounter at the AMAC Foundation’s Social Security Advisory Service is that in order to receive Medicare coverage, you must be receiving Social Security benefits, Not so, as explained in a post today by Social…
A Refresher on Social Security’s Representative Payee Provision
The Social Security System’s provision for beneficiaries having difficulty managing their finances has been available for some time, but it can be overlooked by families who may need it most. In a post on theweeklyjournal.com, Social Security Administration Public Affairs…
Withdrawing from the Nest Egg…4%, or 4.7%? Here’s some new math to think about.
Whether or not you believe in the math behind the long-standing premise that a 4% rate of post-retirement withdrawal from your accumulated savings works for you, here’s a new set of thinking planning the draw-down of your savings. It’s a…
The 2022 COLA Payment…A Procedural Update
Much has been written and spoken about the 2022 5.9% cost-of-living adjustment (COLA) approved for Social Security beneficiaries, both in support of it and analyzing its inadequacy. Virtually everyone knows that the boost is the largest in four decades, but…
So, How Much Do You Think You’ll Need for Retirement?
According to retirement reporter Robert Exley Jr., it’s more important for retirement planning purposes to consider projected accumulated wealth rather than the specific age you plan to “pull the plug.” Citing the simple fact that each person’s situation is different,…
More Discussion on the “When to File” Question
The question of when to file for Social Security benefits, or more correctly, at what age should I begin drawing my Social Security benefits, is the single-most popular question we receive in the AMAC Foundation Social Security Advisory Service. And,…
Medicare Part B Premium Assessment Under Review?
An article posted on yourerie.com by reporter Scott Bremmer suggests that a reassessment of 2022’s increase in Medicare’s standard Part B premium is underway by the Health and Human Services Department. If the increase is rescinded in part, Bremer notes…