Social Security
Changes in data collection could affect 2026 COLA calculation
The Bureau of Labor Statistics recently eliminated three cities from the data sampling used to calculate its inflation numbers. Is this a big deal, and could it affect the calculation of Social Security’s cost-of-living adjustment (COLA) for 2026 (and beyond)? According…
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…
A Lack of Social Knowledge Can Create a Big Problem!
What you don’t know can hurt you, especially when it comes to Social Security decisions. That’s a simple fact that we deal with routinely at the AMAC Foundation Social Security Advisory Service. For example, being unaware of the earnings test…
Dissecting the Social Security Earnings Test
The Social Security Earnings Test severely limits the ability of early retirees to earn income without having their benefits reduced. Because of this provision, many older Americans are forced out of the workplace when they would otherwise continue contributing to…
Celebrating Social Security Fairness Act Milestone
The Social Security Administration recently celebrated a key milestone by announcing that we completed sending over 3.1 million payments, totaling $17 billion, to beneficiaries eligible under the Social Security Fairness Act (SSFA), 5 months ahead of schedule. When the SSFA…
The Social Security Board of Trustees’ 2026 COLA estimate
The annual cost-of-living adjustment (COLA) calculation uses the data collected by the Bureau of Labor Statistics from the third quarter of the year, specifically the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) readings from July through…
Will your Social Security check be cut?
Improper payments, generally overpayments, were made by the Social Security Administration between 2015 and 2022, totaling $72 billion. There are various reasons why overpayments occur; the most common error is failure to report changes involving income. By law, the Social…
How much in savings will the new deductions provide?
When the “Big, Beautiful Bill” was signed into law on July 4th, it included a new senior tax deduction (temporary) aimed at those seniors who pay taxes on their Social Security. Because this bill was a reconciliation bill, it could…
A new proposal to solve Social Security insolvency
In an op-ed published Tuesday for The Washington Post, Sens. Bill Cassidy (R-La.) and Tim Kaine (D-Va.) proposed creating an additional investment fund for the Social Security Trust fund. “We propose creating an additional investment fund — in parallel to…
Retirement planning mistakes to avoid
The fear of running out of money or being unable to afford necessary expenses in retirement can be overwhelming. If you have retirement anxiety, several coping mechanisms can help you not to feel so overwhelmed. The first and most important…