Earnings cap
Key Social Security Changes Set to Hit in January
The 2025 cost-of-living adjustment (COLA) announced last month is generally known at this point, but there are two additional key changes that folks need to keep in mind. For example, the annual limit on taxable earnings increases starting in January,…
“You Earned It, You Keep It Act” would add 30 years to Social Security solvency–FA
In a post today by Tracey Longo on fa-mag.com, the results of Rep. Angie Craig’s (D-MN-2) bill titled the “You Earned It, You Keep It Act” were suggested to push the projected insolvency date for Social Security’s trust funds out…
Social Security Facts and Factoids
Forbes contributor Eli Amdur, in a post on forbes.com, provides several interesting trivia about Social Security, along with some serious points on areas where governmental leadership is needed to correct flaws in the program’s structure. Among the points he raises…
The Social Security Solvency Dilemma: One View of a “Surefire” Fix?
Social Security’s long-term financing woes are garnering increased attention again, with the economic devastation accompanying the COVID-19 pandemic providing more fuel to the fire. While the most recent report by the Social Security Board of Trustees reiterated the 2035 end-date for depletion of…
Thoughts on Removing the Tax Cap to Save Social Security
Although it’s been a fairly constant part of many Social Security reform proposals, the removal of the annual limit on earnings subject to FICA tax as a way to address the program’s solvency issue continues to stall in the face of…