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A Quick Primer (and a Forecast) About Social Security COLAs
We’re well into the first month of the measurement period for calculation of next year’s Social Security cost-of-living adjustment, and it seems like we’re reading about it every day. With the news cycles spending so much time on the issue,…
Zeroing in on Social Security Post-Election Possibilities
While the voting public awaits details on Presidential candidate Kamala Harris’s position on our troubled Social Security system, perspectives are beginning to develop. Yes, it’s only been a few days since the top of the Democrat ticket changed hands, but…
Social Security Numbers Can Be Changed…But Be Careful!
There are legitimate reasons to change one’s Social Security Number (SSN), and Social Security Administration regulations provide a process for doing so. Among the valid reasons are identity theft, mistaken dual issuance of a number, and “religious or cultural objections…
2025 COLA Watch–the Good and the Bad
The good news is that there’s likely to be a cost-of-living adjustment (COLA) for Social Security beneficiaries in January; the bad news is that it is expected to fall short of 2024’s 3.2% adjustment. But wait! That might not be…
ERISA at Age 50…A Recap of Where We are Today
Congress passed the Employee Retirement Income Security Act (ERISA)–the law that set minimum standards for most voluntarily established retirement and health plans in private industry to provide protection for individuals in these plans–was enacted in September of 1974. With this…
Presidential Candidate Harris on Social Security…Probably No Change in Position
The change in Democrat Party’s 2024 presidential campaign ticket will probably not yield any change in position on Social Security’s future, according to a post today by Newsweek reporter Aliss Higham. Although Harris’s specific policy points have yet to be…
Unexpected costs in retirement
Planning for your retirement is not easy. You must not only account for the costs of everyday things such as housing, insurance, and traveling but also those unexpected costs you may encounter during your retirement that may impact your financial…
Adults are worried
Americans are worried. According to the latest Gallup poll, three-quarters of adults aged 65 and younger said they are concerned about Medicare, and 80 percent said they are worried about Social Security benefits. The poll also found the respondents “make…
Social Security’s Office of the Inspector General Releases Scam Report to Congress
(Source – blog/ssa/gov) Social Security’s Office of the Inspector General (OIG) recently released its quarterly Scam Report to Congress. The report provides information about scam trends in the second quarter of Fiscal Year 2024 (January 1 — March 31, 2024).…
Payment plan for drugs in 2025
One of the many changes the Inflation Reduction Act (IRA) changed is how Medicare recipients can pay for prescription drugs. Medicare beneficiaries may choose to participate in a program that will spread the costs across several months instead of being…