seniors

Social Security claw back policy numbers

This year, the Social Security Administration has come under scrutiny by Congress and the media for its clawback policy. Social Security clawback policy is when the program, by administrative error, has overpaid recipients; the agency then collects the overpayment by…

Are you ready for these changes to Social Security?

“The Only Constant in Life Is Change.”- Heraclitus. That is true when it comes to the Social Security program as well. The Social Security program will change in 2024, but those changes will not affect everyone. What are those changes?…

Ask Rusty – About the Fairness of “WEP” and “GPO”

Dear Rusty: I was married to my ex-husband for 30 years. For 14 of those years, I was an unemployed mom and community volunteer. After my sons were grown, I began teaching in California and earned a teacher pension. That…

Are higher taxes the only solution to Social Security insolvency?

We are all aware – I hope you are – that the Social Security Trust fund will be depleted by the end of 2033, forcing benefit cuts of 20 percent in 2034 if Congress cannot find a solution. So, what…

The clock is ticking for Congress

According to American writer Jack Kornfield, “The trouble is you think you have time.” The reality is we do not. Congress has until 2033 to come to a bipartisan agreement about Social Security, or there will be an automatic cut…

It’s all about realistic expectations

Social Security is a primary income source for most people aged 65 and older. You can start your Social Security retirement benefits as early as age 62. However, if you start to receive your benefits early, your monthly Social Security…

What the five GOP candidates said about raising the retirement age

During the 3rd Republican candidates’ debate, the third rail of American politics – Social Security- was discussed. The difference in the approach of the five attending candidates in solving the Social Security and Medicare insolvency issue was on display. The…

Spousal benefits from Social Security 

Being married comes with benefits – Social Security benefits – that is. When a worker files for retirement benefits, the worker’s spouse may be eligible for a benefit based on the worker’s earnings. The spousal benefit can be as much…

Can better communication between spouses lead to more retirement savings?

New research shows that married couples who do not communicate with their spouse about saving for retirement lose, on average, almost $700 in savings every year. The study found that “24 percent of couples failed to coordinate their contributions to…

There’s more to consider when deciding to begin your Social Security benefits

Social Security is a primary income source for most people aged 65 and older. Without Social Security benefits, 37.7 percent of older adults would have incomes below the poverty line. Social Security is the cornerstone of many retirees’ income, so…

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