Social Security
Two Vacancies on Social Security’s Board of Trustees
Much fanfare was made about Social Security’s ailing financial health with last week’s release of the annual report of The Social Security Board of Trustees. Little noticed but still important are the two vacancies that are supposed to be filled by…
Public angst over Social Security
Katie Brockman reports that about 44% of Americans are worried about a reduction in benefits sometime in the future, or that Social Security will be eliminated entirely, according to a survey from the Transamerica Center for Retirement Studies. Their fears are not…
Congressional inaction the norm despite dire predictions
This thoughtful piece brings together experts from The Concord Coalition, The Committee for a Responsible Federal Budget, and The Peterson Foundation among others, for comment on the state of Social Security and Medicare after the release of last week’s Trustees…
Save Social Security Now
Save Social Security now says Charles Blahous, but a chorus of so many others mouth those words too. Yet there has been no action since “the grand bargain” that President Reagan, Speaker Tip O’Neill, and others struck in 1983 to do just…
Don’t let record-keeping mistakes cost you thousands
Social Security benefits are based on one’s average indexed monthly earnings from the 35 highest-earning years. But as this article points out, the Social Security Administration (SSA) does make mistakes. If not caught, that would mean a serious reduction in benefits. Over $1.2 trillion in…
Editorial: Make changes now to rescue Social Security from imploding
This editorial from The New York Post addresses the fact that there was more bad news, at least in the longer term, for Social Security, than good in last week’s report from the Trustees. The writers feel that lawmakers shouldn’t…
Is it good to plan for a world without Social Security?
Scary headlines always follow a release of the annual Social Security Trustees report. Last week was no exception, when the report reiterated what has been known for years– Social Security will only be able to pay its beneficiaries about 80%…
Saving for retirement should not be left to chance
Did you know nearly 40% of Americans think winning the lottery would be a good retirement plan? That’s from a survey conducted by financial company Stash. Among the young, nearly 60% of Millennials saying winning the lottery is a reasonable way to…
More Social Security? Not likely given its state
Social Security enjoys broad support in America. Pew Research Center questioned a number of demographic groups in March 2019 on whether cuts should be made to Social Security for future beneficiaries in order to put the program on firmer ground. Of all the…
How is Social Security “going broke” with all the surpluses?
It’s often tough for people to comprehend, but while Social Security has been stockpiling worker payroll taxes since 1982, including a surplus of $3 billion in 2018, the good fortune turns around in 2020. The program was due to run a…