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Senate Bill to Block Social Security Garnishment Reintroduced
Senator Ron Wyden (D-OR) yesterday reintroduced legislation that would prevent the federal government from offsetting Social Security benefits to compensate for repayment of all non-tax federal debt. The bill would include protection for outstanding debt associated with student loans, where…
Thoughts on the Pessimism Expressed by Gen Zers
It’s been widely reported that the Generation Z population cohort–those born in the 1997-2012 range–have a dismal view of Social Security’s future. In fact, according to MarketWatch reporter Alessandra Malito, “almost half of the people in that group don’t think…
Social Security’s “Clawback” Process and the Angst it Produces
To say that Social Security is complex is a clear understatement, and the myriad rules and potential for changes in beneficiary circumstances present a recipe for extremely uncomfortable situations. One such situation is the subject of an article appearing today…
Benefits for Divorced Spouses–A Generally Misunderstood Part of Social Security
The Motley Fool’s Katie Brockman, in a post today on their website, notes that the 2023 Nationwide Retirement Institute survey uncovered a general lack of understanding about the benefits available to eligible divorced spouses. As a result, it’s possible that…
Implications of a Drastic Drop in COLA
There’s been quite a bit of commentary this week regarding the 2024 expected cost-of-living adjustment for Social Security beneficiaries, much of it highlighting what statistically looks like a jump from projections publicized earlier this year. That’s good news, of course,…
Understanding the Social Security Earnings Test
Anyone claiming Social Security retirement or survivor benefits before reaching full retirement age is subject to an earnings limit which, if exceeded as a result of wages paid, will result in reduction of the amount paid. It can come as…
Working Longer to Increase Benefits–Some Points to Consider in the Argument
As the rhetoric on Social Security reform continues to percolate, one of the frequent topics in the debate is extending the amount of time in the workplace. Financial advisors typically cite the delayed retirement credit (DRC) as an avenue to…
Assisting Social Security Recipients in Minimizing Fraud Risk
It’s certainly no secret that seniors are a likely target for scammers and fraudsters, and the frequent hijacking of Social Security numbers, unfortunately, provides a pathway for the criminal element to access these unsuspecting victims. Further, with the risk of…
For Those Approaching Social Security: Some Very Basic Fundamentals
If you’re nearing a decision on when to begin drawing Social Security benefits and, especially, if you’re considering filing early, there are some very, very basic questions you need to ask yourself before taking the plunge. If you’ve created a…
The Mysterious Cost of Living Adjustment (COLA)
It’s almost amusing – media pundits grasp news about monthly inflation as early as the first quarter of each year and try to extrapolate the early data to predict a Cost of Living Adjustment (COLA) for the following year. It…