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A Reflection on the 2026 COLA
The recent announcement of a 2.8 percent cost-of-living adjustment (COLA) for Social Security benefits has been widely panned as inadequate given the economic environment seniors face. Sure, it’s more than last year’s 2.5 percent, but many pundits note that the…
“It’s your job to educate yourself…”
Former Social Security Administration director of public information Tom Margenau, a 32-year veteran of various positions in the agency, has a direct style when answering questions — and complaints — about agency services. In media vernacular, he tells it like…
The Medicare Premium Impact of COLA
In all the hoopla surrounding last week’s announcement of the 2026 Social Security cost-of-living adjustment, many media accounts gloss over the effect of Medicare’s premium increase. And it’s a big effect, since it amounts to an 11.6 percent increase in…
Questioning Social Security’s Future…
Social Security’s future for today’s younger workers is in transition. There’s no question about that, given the ongoing commentary on the program’s trust funds’ impending insolvency. For example, the just-completed transition to age 67 as the full retirement age (FRA)…
Social Security Announces 2.8 Percent Benefit Increase for 2026
The awaited announcement of the 2026 Cost of Living Adjustment has finally been made. Please see this article from the Social Security Administration. Also, if you’re unsure about how these basics apply to you, or if you have any questions…
Retrospective on “WEP/GPO”
This article on the elimination of the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) provides a union-perspective of those two Social Security (SS)provisions and how their recent elimination affects nearly 3.1 million public servants. Essentially, the provisions…
“No tax on Social Security:” Here’s the real story
Be careful of campaign promises and political spin – they don’t all happen, and sometimes they may actually happen, but take an unusual and different approach. Such is the case with the bold assertion by the Administration that “income tax…
COLA will be announced today! Do you understand the process?
Historically, the annual Cost of Living Adjustment (COLA) to everyone’s Social Security benefit is announced on October 15th, but this year the announcement was delayed to October 24th because of the government shutdown. Thus, today is a big day for…
About Working While Collecting Social Security
If you are planning to claim Social Security benefits in the near future and you are still working, it’s important to understand Social Security’s “Annual Earnings Test” (AET), the rules of which may limit how much you can earn while…
Tips to Prevent Retirement Financial Disaster
Retirement can be scary! Depending on your financial circumstances, unknown future situations can derail your retirement comfort and result in financial disaster, thus entirely disrupting your life. So, what should you do to avoid such circumstances? Well, renowned financial advisor…