Social Security
COLA Watch 2024–Likely Nowhere Near 2023
Inflation is easing, and that’s a good thing for the economy in general. Unfortunately for seniors, though, that downward trend brings with it a similar trajectory in cost-of-living adjustments (COLA). In fact, current projections are that the COLA for next…
House Opens Markup Work on Two Bills Aimed at Identity Fraud Protection
U.S. House Committee on Ways and Means began markup work on two bills introduced to guard against identity theft. The two bills are: H.R. 3784, the “Improving Social Security’s Service to Victims of Identity Theft Act”, and H.R. 3667, the…
Spousal Benefits: A Refresher on the Fundamentals
The question of benefits available to spouses is an area we deal with frequently here at the AMAC Foundation Social Security Advisory Service. For many, an understanding of the rules and provisions embedded in the Social Security playbook can help…
Claiming Benefits at 62 Still Popular, but Is It Wise?
Well, as we typically begin our response to inquiries, “It depends.” There may be circumstances when it makes sense, as in the case of someone with an expectedly shortened life span, or someone who has ample financial resources and wants…
Clarifying the Banking Interactions Between the U.S. Treasury and Social Security
The charge that the political arena has, through the years, “stolen” money from the Social Security program is an enduring piece of folklore that surfaces routinely in social media and in a variety of news accounts. Some sources cite specific…
Social Security Rules Associated With Living and Working Abroad
Hundreds of thousands of Social Security participants–contributors and beneficiaries–fall into the category of “ex-patriots” or, in the vernacular, Expats, so it’s not that unique an occurrence. So, if an offshore relocation is in your plan, know that although you aren’t…
Point of View: Perspectives on the Social Security Trust Fund
The rhetoric on Social Security’s looming solvency issue is free-flowing these days, and much of it deals with the program’s trust funds and their role in the overall benefit funding process. A post on shepherdexpress.com by William Holahan, emeritus professor…
A Timeline Clarification for Millennials–Preparing for the Future of Social Security
Social Security’s impending solvency crisis has been in the news quite a bit in recent months and, unfortunately, much of the media accounts have created a misunderstanding of what’s really in the cards for this critical senior support program. Specifically,…
Planning for Retirement? Here’s a Solid Roadmap to Consider
Planning for retirement is not easy. It’s not something to put aside for later, because time goes by quickly and before you know what happened, you’re at the point where you know you should have given it more thought. So,…
Inflation and Retirement Planning–Some Suggestions
Virtually every consumer is painfully aware of the inflationary cycle our economy is enduring, and not everyone is buying the thought that it’s a temporary–or transitory, to use a vernacular term–phenomenon. Retirees and those planning for their retirement years are…