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President Trump Doubles Down on Pledge to “Not Touch” Social Security
Speaking yesterday on Fox News’ Sunday Morning Futures program, President Trump reiterated his promise that Social Security and Medicare will not be touched except by efforts to expose and remove incidents of fraud, waste, and abuse in the systems. A…
“Baby Boomers” Facing Financial Reality of Retirement
The “Baby Boomer” generation has been reaching retirement eligibility since 2008. This population cohort is uncharacteristically large—76 million—and is expected to result in roughly doubling the population of Americans over age 65 by 2031. While that projection could potentially put…
Claiming Benefits Early? Beware the Retirement Earnings Test
Social Security regulations stipulate that upon beginning retirement, spousal, or survivor benefits, beneficiaries are considered “retired” and expected to leave the workforce. Current regulations allow for continued earning from employment for those who claim benefits before their full retirement age…
What is the Status of Social Security?
Social Security’s future has faced turmoil over the last several days after a Feb 28th Press Release announced that it would lay off about 7,000 people. This stirred up concerns on how the staff cuts could impact benefit payments. In…
How will the Trump Administration affect Social Security Insolvency?
Social Security insolvency has been in the news a lot recently. Analysis by the Committee for a Responsible Federal Budget (CFRB) shows the Social Security Trust Fund may become insolvent by 2031, three years earlier than previously projected. Implementation of…
Rick Scott on Social Security Solvency
Social Security forms the foundation of income for retirees, survivors, and the disabled. Rick Scott, Republican from Florida, offers insight into the agency’s future. Social Security must be strengthened by working to eliminate fraud and waste. There will be changes…
Jean Chatzky on Social Security and Roth IRAs
Jean Chatzky, the former NBC Today Show financial editor and founder of HerMoney has words of advice for people who are preparing for retirement Jeffrey Quiggle for The Street explains here… Notice: The link provided above connects readers to the full…
Should the Restructuring at Social Security Factor into Your Decision on when to Take It?
There as never been a perfect answer to the question of when to take your benefits. Here at the AMAC Foundation we have told people to avoid letting the political climate affect a decision. The best decision is still what…
Restructuring of Social Security
The Social Security Administration has announce major reductions in staffing and some office closures. They are offering voluntary early retirement and separation incentive payments to their employees. These changes aim to improve efficiency without disrupting Social Security benefit payments. Kailli…
Should You Have Taxes Withheld from Your Social Security Benefit?
Up to 85% of your Social Security benefits can be taxable income. You can use IRS form W-4V to request tax be withheld from your Social Security benefits. This move can help keep you from owing money at tax time.…