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Dissecting the 2026 Social Security Trustees Report
It’s a fairly large document, all of 266 pages, much of which consists of charts and graphs that support the Social Security Administration’s actuarial opinions about the program’s financial future. Nevertheless, the Trustees’ Report remains one of the key documents…
AMAC’s Partnership with SSA Continues to Provide Steady Flow of Relevant Information
(Note: This article was previously published on AMAC.us/Newsline) AMAC’s partnership with the Social Security Administration gives us access to the agency’s Monthly Information Package (MIP), a collection of articles that provides updates on Social Security programs, services, and resources. In…
The Move to “Scrap the Cap”…A Contrarian View
It’s a popular notion that eliminating the Social Security taxable maximum would solve the program’s long-term funding shortfall. In fact, it would increase program revenue, but most economists point out that the severity of the problem is such that eliminating…
Social Security and Bankruptcy; Some Things You Should Know
Many seniors face a declining financial situation in their retirement years, much of which is aggravated by continuing inflation and the inability of Social Security’s annual cost-of-living adjustment (COLA) to keep pace with rising costs. Some organizations, like The Senior…
Social Security’s “Good News/Bad News” COLA Story
The Senior Citizens League (TSCL) this week predicted that the 2027 Social Security cost-of-living adjustment (COLA) could reach 3.8%, a full percentage point higher than the 2026 adjustment. Of course, that’s the good news, but the driver here is the…
Bipartisan Policy Center Official Testifies on Social Security’s Future
As noted in today’s headline article on this site, the temperature appears to be rising in Washington over Social Security’s looming financial disaster. Yesterday, before the United States Senate Committee on Finance Subcommittee on Social Security, Pensions, and Family Policy,…
New Study Cites Social Security Insolvency Concerns
Eight out of ten participants in a post-2026 Social Security Trustees Report survey reported being frustrated, angry, scared, or nervous in the face of potential future benefit cuts. The survey of over 1,000 U.S. adults ages 45 and older, conducted by…
Sen. Cassidy Seeking to Increase Focus on Social Security Reform
“We need to put the politics aside for the good of the country, for at least a little bit.” That’s the sentiment expressed recently by outgoing Louisiana Senator Bill Cassidy as he discussed his interest in tackling the rapidly approaching…
Income Inequality and its Effect on Social Security Finances
Social Security’s looming insolvency has several causes, ranging from the steadily increasing beneficiary life expectancy to the steady shrinking taxpaying workforce. But an even more significant factor in the projected acceleration of the combined trust funds’ point of full depletion—from…
What is the Medicare IRMAA surcharge?
IRMAA stands for Income-Related Monthly Adjustment Amount. It is an extra surcharge applied to Medicare Part B and Part D premiums for beneficiaries with higher incomes. The Social Security Administration determines IRMAA using your modified adjusted gross income (MAGI) from…