Social Security
Make sure you do not make these mistakes
As of 2024, more than 71 million Americans receive Social Security benefits and Supplemental Security Income (SSI) payments. Approximately 86 percent of the population aged 65 and over receive these benefits. However, most do not realize that some specific actions…
COLA Announced – Reactions Now Taking Center Stage
Yesterday’s official announcement of a 2.5% Social Security cost-of-living adjustment arrived as expected, along with the also-expected commentary on the inadequacy of the benefit increase. Calling the 2.5% bump a “lost opportunity,” The Senior Citizens League (TSCL) executive director Shannon…
Why is Social Security an “off budget” program?
Social Security as well as a few other programs are excluded from the unified budget. Lawmakers devised this special accounting to wall off these programs. This gives them the ability to act with autonomy. This article from the TPC Briefing…
Federal Employee Viewpoint Surveys show Encouraging Results for the Social Security Administration
Increased participation in taking the 2024 FEVS and increases in some areas show improvements in employee views of the agency. Drew Freidman for Federal News Network explains here… Notice: The link provided above connects readers to the full content of the posted…
Social Security’s Efforts to Streamline Disability Applications
From application to determination for Social Security benefits is taking months. In addition, if an appeal is needed it can take years. Social Security Administration Commissioner Martin O’Malley is determined to make improvements. He will do this by hiring more…
COLA’s not Keeping Up with Increasing Costs
Since 2000, Social Security recipients have lost 36% of their buying power. Part of the reason is the way the COLA increases are calculated. The calculation is based on the spending habits of urban wage earners and clerical workers. Still,…
Importance of Checking your History of Paying into Social Security
Your earnings statement is available when you set up an account at ssa.gov. It’s important to check it periodically, looking for accuracy. Failing to do so could result in a lower benefit than you should be receiving. Your employer is…
How far will Your Retirement Savings go ?
The answer to this question would be different for everyone due to individual situations. This article by Nichole Spector for GoBankingRates takes a scenario of $750,000 in retirement savings plus Social Security and estimates how long that amount would last…
Fact Check: Do Immigrants Receive More Benefits Than Average Social Security Payments
This is false. To start with, the figures used in this discussion are incorrect. Peter Gattuso for The Dispatch explains the average social security payment is higher and the immigrant benefit is not monthly. It is part of a small…
The Impact of Proposed Social Security Changes, From Doing Nothing to Scrapping the Cap
Several proposed changes are being considered to help address Social Security’s looming insolvency problem. Susan Rupe, managing editor at Advisor News, explains many of the options here. As an example of the leading thoughts on reforming Social Security, the Association of…