AMAC Foundation
Social Security Myths and Misunderstandings
Social Security Myths are Pervasive In my efforts to explain Social Security to those who ask questions, it is often necessary to provide information contrary to the questioner’s understanding of how Social Security works. Some folks who write us possess…
The Role of Life Expectancy in Retirement Decisions
When contemplating your retirement it is crucial to focus on an important question – “When should I take my Social Security benefits?” While there are a number of factors to consider when making that decision, don’t overlook the role of…
What Would a 23% Cut in Social Security Mean?
The Trustees of Social Security have warned Congress: There will be a 23% cut in everyone’s Social Security benefit in 2033, unless Congress reforms the program. Hopefully, Congress will act soon to prevent cuts from happening – but what if…
Social Security: Once upon a time – and Today
Once upon a time, there was no real social security in the United States of America. Oh, there were a few early 19th century attempts at public programs to limit poverty, especially for the elderly. However, all of these early…
Definition Time: “Wage Indexing” and How it Works
Yesterday’s headline post on this site discussed a paper by AEI senior fellow Andy Biggs identifying “wage indexing” as a key culprit in Social Security’s long-term funding problem. As our post pointed out, wage indexing is the process of using…
Paper checks slated to cease in a few months
The roughly half million Social Security beneficiaries still receiving paper checks will be required to convert to an alternative by September 30 to comply with President Trump’s Executive Order (EO) 14247. The Executive Order, titled “Modernizing Payments To and From…
Social Security Insolvency and the Math Behnd It
A few weeks ago, the Social Security Board of Trustees issued its annual report on the program’s financial status at the end of 2024. As expected, it wasn’t good news. It signaled the loss of another year before the program’s…
Never Worked? You May Still Be Eligible for a Social Security Benefit.
There are circumstances when someone that never worked may still be eligible for a Social Security benefit. The most common one is a spousal benefit (ex-spousal benefits if married at least 10 years). You can receive a Social Security benefit…
Social Security Increases Repayment Amount on Overpayments
If you find yourself being overpaid by Social Security, you may have to pay it back. These overpayments will start being withheld around July 24, 2025. If you received an overpayment notice issued on April 25, 2025, Social Security will…
Social Security for the Military
Some special circumstances affect Veterans and Military members when they apply for their Social Security benefits. Depending on the years you served in the Military, special additional credits may have been added to your benefit. There are also different standards…