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What is the super catch-up?
Under the SECURE 2.0 Act of 2022, individuals aged 60-63 are eligible to participate in “super catch-up.” What is super catch-up? The super catch-up allows retirement savers to contribute an additional $11,250, on top of the standard $23,500 annual contribution…
What happened to The Social Security Fairness Act?
Where does The Social Security Fairness Act stand now? The Social Security Fairness Act, H.R. 82, was passed by the U.S. House in November and is awaiting a Senate vote. The bill must be voted on by year-end, or it…
Finding happiness in retirement
We all dream of having the best time in retirement, but what happens when the “euphoria” wears off? It does not matter how much money you have in your retirement savings; finding happiness is essential. Lou Carlozo reviews the five…
Where to live in retirement
GOBankingRates recently published a study on how far combined retirement savings of $750,000 and Social Security benefits would last in each region of the country. They considered housing markets, healthcare costs, and assorted living expenses in each area. To read…
Changes to Accessing Social Security In-Person Services
We are expanding appointment-based services at our local Social Security offices. By scheduling appointments, we aim to reduce wait times, streamline service delivery, and improve customer experience. Nearly 400 local offices have already moved to appointment-based service this year. These…
COLA and Your Retirement Plan
James Brumley for The Motley Fool explains the Cost of Living Adjustment. Since it does not keep pace with inflation there are other actions that can be taken to increase your retirement income picture. Taking any small steps is worth…
Will Frank Bisignano Help or Hurt Social Security?
Alessandra Malto for MarketWatch discusses whether or not President-elect Trump’s pick as Commissioner of Social Security will help the agency. On one hand, he is a successful business executive and will be running the business of Social Security so it…
What is the Average Social Security Benefit?
Selena Maranjian for The Motley Fool explains the average Social Security benefit over the years and why it is important to develop other streams of retirement income. Read here… As an example of the leading thoughts on reforming Social Security,…
Only 9 States Still tax Social Security Benefits
Stefan Walters for The Motley Fool explains that although Social Security may be subject to Federal Income Tax, there are 41 states that do not tax Social Security benefits. More states are getting rid of state income tax on Social…
New Debate on Social Security’s Trust Funds. How exactly is Social Security financed?
Lorie Konish for CNBC points out that new leadership in Washington will be taking on the dilemma of how to fix the program. Senator Mike Lee of Utah renewed questions on how the program is funded. Lee criticized the way…