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A Different View on Social Security’s Solvency Issue
Despite the news articles and blog reports surfacing again in the wake of the 2018 Trustees Report and its dire predictions, not everyone is calling for a rush to judgement. Fox Business reporter Henry Fernandez recaps remarks by Rep. Tom Rice (R-S.C.)…
Questions on Suspending Benefits, the Earnings Test, and Survivor’s Benefits
Forbes contributor Laurence Kotlikoff, professor of economics at Boston University, a Fellow of the American Academy, a Research Associate of the NBER, and President of Economic Security Planning, Inc. addresses a series of questions associated with Social Security’s complexities in a…
2018 Social Security Trustees Report: A concise summary
With the release yesterday of the 2018 Social Security Trustees’ Report, we have already seen a panoply of “news” articles analyzing the Report and offering opinions both positive and negative about the implications of this latest review of Social Security’s…
New protections for those needing a “representative payee”
In April of this year, a new law passed as H.R. 4547 bolstered Social Security’s Representative Payee program to provide more protection for beneficiaries needing such support. A “representative payee” is a person who is designated to receive and manage…
Wasting spending by Social Security spotlighted in Congress
In a strongly worded admonishment of the Social Security Administration (SSA), an Arkansas Congressman’s letter demanded explanations for recently discovered wasteful spending by the SSA. According to a GAO (General Accounting Office) report, the SSA overpaid disability benefits to the tune of…
Here’s why you shouldn’t claim Social Security at age 65
For a lot of years, age 65 was viewed as the “normal” age at which a person should or would retire, so it’s not surprising that some folks still hold that view. And that thought is reinforced by 65 being the age…
How State pensions can affect Social Security
Unfortunately for the employees of about 15 U.S. States, pensions from their State employment can have a pretty devastating affect on any Social Security benefits they may also be entitled to receive. Those who earn a pension from a State…
Larry’s answers to several Social Security questions
In his regular Forbes column, contributor Laurence Kotlikoff answers several questions about getting retroactive Social Security benefits, about whether it’s possible to collect both your own Social Security retirement benefit and also a survivor benefit, and if it’s possible for…
“WEP” and “GPO” can reduced or eliminate Social Security benefits
In this Chicago Tribune article by Elliot Raphaelson, the author describes how certain other pensions, most notably those by public service employees of a number of States, are surprised to find that,because their main career in public service didn’t contribute…
Medicare’s Trust Fund depletion now predicted as 3 years sooner
The nation’s premier healthcare program for over 60 million Americans is now scheduled to run out of reserves three years earlier than previously predicted by the program’s Trustees. In its annual report released yesterday, the Board of Trustees revealed that…