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Three questions to ask yourself before you claim your benefits
If you were born in 1960 or later, your full retirement age is 67, which allows you to receive your full benefits. The best age for you to claim your Social Security benefits will depend on factors such as your…
Audit Finds Social Security Processed Small Overpayments It Could Not Cost-Effectively Recover
The Social Security Administration (SSA) Office of the Inspector General (OIG) has issued an audit report finding SSA spent more to recover certain low-dollar Old-Age, Survivors, and Disability Insurance (OASDI) overpayments than the amounts it ultimately recovered. Continue reading here… Notice:…
What is Social Security WINDEX calculation?
According to the latest Inspector General, Social Security employees have failed to apply WINDEX to certain survivor claims. WINDEX (Widow(er)’s Indexing) is an alternate formula the Social Security Administration uses to calculate survivor benefits when the deceased worker died before…
Don’t get complacent about your retirement planning
Despite all the noise about America’s retirement savings crisis, according to the recent EBRI’s Retirement Confidence Survey, there is little evidence of a widespread retirement crisis. However, this is not universal; some retirees are struggling. Steve Vernon, writing for Forbes,…
The exhaustion of the Social Security trust fund is rapidly approaching
The Social Security program celebrated its 90th anniversary last year, and it continues to pay monthly benefits to retired workers and survivors of deceased workers. However, the future of this invaluable program may soon be reduced, but not bankrupt, as…
Three ways to increase your Social Security benefit
You can typically get monthly Retirement benefits starting at age 62 if you’ve worked and paid Social Security taxes for 10 years or more. However, your benefit will be permanently reduced. The reduction is calculated based on the number of…
When you claim Social Security determines how much you receive
About two-thirds of those who claim Social Security do so before reaching their SS full retirement age (FRA). Your FRA depends on the year you were born but, for most claiming SS these days, FRA is between age 66 and…
Great Progress at the Social Security Administration
Now only one year into his appointment as Commissioner of the Social Security Administration, Frank Bisignano has made an indelibly positive mark on this federal agency so crucial to Americans. Customer service levels have improved dramatically even in the face…
Retirement Savings and You
It’s a sad, but true, reality – most entering retirement do not have enough saved for that monumental lifestyle change! Financial advisors say you should have at least 10 times your final annual salary saved for retirement, but precious few…
Using your online “my Social Security” account
For many seniors, using today’s digital tools can seem intimidating. The internet feels like an alien presence, fraught with lurking dangers we don’t care to be exposed to. But the Social Security Administration has gone to great lengths to make…