Social Security
Congressional Subcommittee field hearing focuses on WEP & GPO
Friday’s Congressional Subcommittee led by U.S. Sen. Sherrod Brown (D-OH) offered public sector workers an opportunity to express their concerns with Social Security’s Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). The hearing led off with comments from a…
Ask Rusty – I’m Already Collecting Social Security – How Will My WEP Reduction be Calculated?
Dear Rusty: I don’t understand exactly how the Windfall Elimination Provision (WEP) works for my situation. I turned 62 in 2017 and am currently still working in a “non-covered” job, not paying into Social Security, but from which I will…
The Social Security Earnings Test—Why Does it Exist?
Claiming Social Security retirement benefits early—that is, before full retirement age (FRA)—is still a popular option in retirement finance planning. For some, it offers the opportunity to step out of a difficult work environment and into different, less stressful work.…
One View of the Solvency Issue and a Potential Solution
Social Security’s looming insolvency is beginning to get attention, finally. After all, the program’s Trustees have been sounding the alarm for about three decades, so even though its late in the 118th Congress, it’s great to see the debate shaping…
Will Medicare and Social Security be Available to the Next Generation?
Surveys show many Americans are concerned that Medicare and Social Security will not be there for them. This anxiety is fueled by the inaction of Congress to resolve the solvency issue. Read this article by Austin Denean for The National…
Learn about Social Security’s “Do Over” Option
Social Security has a little known rule called the “Do Over” option which can be helpful to early filers. You have the opportunity to stop your benefits and pay back what you have received with 1 year. This wipes the…
Regarding Portions of the 6/6/2024 Social Security Subcommittee Hearing on Trust Funds
We all know that Social Security is on a path to trust fund insolvency by 2035. The hearing points out that the Biden Administration’s new budget will make things worse. Nothing is being done right now to correct the situation.…
How to get a Fairly Accurate Estimate of Your Future Social Security Benefits
Knowing a number close to what you will actually receive in benefits is important for retirement planning. If you are between 50 and 65 it’s time to find out this information. Read this article by Trevor Jennewine published by The…
Will your Social Security Benefits be Enough to get by ?
Social Security benefits vary greatly depending on your career earnings. Will even those being paid the highest benefits have enough? Since Social Security is designed to replace approximately 40% of your income, probably not. Read this article by Christy Bieber…
What is a Reliable Source of Retirement Income?
Social Security offers a guaranteed benefit although that amount may be reduced at some point. Dividend stocks can also be a potential source of income. Read this article by Maurie Backman published by The Motley Fool on June 5, 2024.…