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Don’t Let Social Security Overpayments Come Back to Haunt You

Every year, thousands of people receive larger benefits from the Social Security Administration than they’re legally entitled to. And although this may seem like a great deal for the recipients, the reality is that it can come back to haunt them. Between 2007 and 2012, the SSA reported an average of $2.1 billion in annual overpayments to beneficiaries. This was a fraction of the total paid out each year, but it nevertheless exceeded the SSA’s own target rate. In 2010, for instance, overpayments amounted to 0.39% of total distributions, or roughly double the agency’s 0.20% goal…Read More

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