Social Security
COLA increase might not be enough
The 3.2 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 66 million Social Security beneficiaries in January 2024. However, you may not be as much as you think it will be due to Medicare Part B…
Ask Rusty – When Should I Retire and Claim My Social Security Benefits?
Dear Rusty: I am 64 years old and having difficulty working due to my arthritis, but I can continue part time as a podiatrist. I do not know the best way to determine when to retire. What is the formula…
Four Key Moments from the Ways and Means Social Security Subcommittee Hearing on Improper Payments
WASHINGTON – With $16 billion in improper payments over the last five years, beneficiaries living on fixed incomes who rely on Social Security for their livelihood face challenging outcomes where they may receive less than they are owed or are overpaid…
Not Everybody Receives Social Security
Many believe that Social Security is universally available to those reaching retirement age. Not so, says a post by The Motley Fool’s Kailey Hagen in a recent post on their website. She examines three separate examples of three cases in which…
COLA’s Impact on SNAP Benefits…a Bit of a Challenge?
The 3.2% cost-of-living adjustment (COLA) announced for January 2024 is certainly a welcomed boost for Social Security recipients. But as everyone knows, it only allows for catching up on price increases that have already happened, and the process as applied…
The “Average” Social Security Benefit…For What It’s Worth
It’s fairly typical for people to want to see where they stand in relation to those around them, and when it comes to looking at Social Security benefits, that’s probably true. A post today by The Motley Fool’s Maurie Backman…
Thoughts on Avoiding the Tax Bite on Social Security Earnings
It should not come as a surprise to new Social Security beneficiaries, and it’s certainly not news to more than half of the beneficiary population already enduring the pain that comes with seeing as much as 85% of that earned…
Clearing Up the Rumors on Veterans Benefits, As Well as a Rumor on Prisoner Benefits
One of the more persistent rumors we hear about at the AMAC Foundation Social Security Advisory Service involves the belief that Veterans are missing out on extra Social Security benefits earned as a result of their service. As Social Security…
The True Origin of Social Security’s Solvency Problem?
Much has been written about Social Security’s impending 2022 trust fund depletion and the reduction in benefits that would be felt across the board when the reserves are gone. Most of the rhetoric over the past few years has focused…
Senior Citizens League pushes for More Effective COLA Process
It hasn’t really changed since cost-of-living adjustments (COLA) became a reality nearly 50 years ago, and the projected 2024 announcement was again based on use of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), a statistic that…