Social Security solvency
Some SSA employees offered reassignment (with conditions)
There is little doubt the the Trump Administration’s new initiative to streamline the federal government, with the new DOGE (Dept. of Government Efficiency) as the lead agency, has caused a fair amount of angst among government employees. To this point,…
Political Promises vs. Social Security Reality
During the 2024 election season, we often heard candidates promising that cuts to Social Security were “off the table.” President Trump was among those so promising but, as is already evident, that promise did not extend to cutting waste and…
New Proposal Raises Retirement Age
The Brookings Institution released a proposal for Social Security reform that includes raising the Full Retirement Age for high earners and taxing all Social Security benefits with adjusted gross incomes above $100,000 for individuals and $125,000 for couples. Melanie Waddell…
Trump’s Plan to Eliminate Federal Tax on Social Security
President Trump has stated he wants to eliminate federal tax on Social Security benefits. Robert Thomas, Senior Editor for Newsweek explains why that may not be a good decision in the long term. Although it sounds great to give tax…
The Social Security Financing Problem
The Social Security Insolvency issue will not go away by itself. Congress needs to reform it to avoid a fiscal crisis. From increasing life expectancies to a decline in the number of workers paying into the program, Social Security is…
Do you have a Backup Retirement Plan?
Social Security is getting closer to a point of insolvency. This is not the first time it has been in trouble and the government has always managed to tweak it and make it work. Just in case that doesn’t happen…
Should Congress Reverse HR82?
The Social Security Fairness Act was signed by then President Joe Biden in December 2023. This eliminated WEP and GPO offsets for government employees who get a pension and did not pay into Social Security while they were working in…
A Seemingly Positive Change with a Negative Outcome?
President Donald Trump has proposed eliminating taxes on Social Security income. It sounds like a great idea, but the consequences need to be considered. Those taxes are an important income for the Social Security Trust Fund. Congress is unlikely to…
A National Retirement Savings Program–A Way to Ensure Retirement Security?
The news these days is awash with projections of Social Security’s impending demise. Given the constant doom and gloom, it’s understandable that many recent retirees and, more importantly, those looking ahead to retirement develop a sense of despair. After all,…
How Americans would prefer to solve the Social Security insolvency
The Social Security Trustees estimate that if lawmakers take no further action, Social Security’s combined Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) trust fund reserves will be depleted in 2035. After 2035, Social Security could still pay roughly…