Social Security
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…
More on Social Security COLA Implications and Consequences
Now that the excitement of Social Security’s 2024 cost-of-living adjustment (COLA) announcement is waning, the smoke is clearing on how the process works–or doesn’t–and what the tax implications are for beneficiaries in 2024. First, a post by The Motley Fool’s…
Social Security’s Overpayment Problem to get Congressional Attention
The much-publicized effort by the Social Security Administration to recover more than $26 billion in payments mistakenly made to beneficiaries will be subjected to a hearing by the House Ways and Means Social Security Subcommittee this week, according to a…
Qualifying for Social Security – 2024 Requirements
Credits are the “building blocks” that Social Security uses to find out whether you have the minimum amount of covered work to qualify for each type of Social Security benefit (retirement, disability, or survivor) based on your own work record.…
Pros and Cons of Working in Retirement
There are many reasons why folks drawing Social Security benefits continue to work. Some relate to financial necessity, some are driven by the need to stay socially connected, and others simply reflect the curiosity of exploring job opportunities and work…