Social Security
Social Security Windfall Elimination Provision: To Repeal or Not?
Just before last Christmas, Martin O’Malley was sworn in as Commissioner of Social Security. His term will run through January 19, 2025, giving him two full years to wrestle with a lineup of troublesome matters facing this venerable program. First,…
Tax Time…Has Last Year’s COLA Put You Over the Threshold?
Many seniors with taxable income close to the threshold for including Social Security benefits as part of the calculation may wind up with a tax bill as a result of last year’s higher-than-usual cost of living adjustment. The threshold for…
2024 May be the Year for You to Begin Social Security Benefits If…
The Motley Fool’s Kailey Hagen provides three separate reasons why a qualified Social Security beneficiary should take the leap and claim their earned benefits in 2024. The reasons deal with expected longevity, financial needs, and the age of the beneficiary.…
FICA Taxes Explained
Even though it’s the basis for one’s eventual Social Security benefits– retirement benefits, spousal benefits, survivor benefits, disability benefits, and so on–there are a few points relative to Federal Insurance Contributions Act (FICA) taxes that many folks do not fully understand.…
That Nagging Question: What’s the Best Time to Begin Benefits?
It’s perhaps one of the most vexing questions facing anyone approaching Social Security eligibility…when should I take the plunge and begin my benefit? And there are many viewpoints floating on the airwaves, from filing early and getting the benefit of…
Ask Rusty – Will my WEP Reduction Go Away if I Continue Working?
Dear Rusty: I’m 63 years old and have not yet started my Social Security. I now work for the State of Illinois and will draw a pension from that state’s university system. I don’t pay into Social Security from this…
H.R. 5779 – Fiscal Commission Act
A Plea for Understanding the Commission’s Mission Four key proponents of a bipartisan, bicameral fiscal commission within Congress to identify and report on policy recommendations to improve the long-term fiscal condition of the federal government recently issued an op-ed piece intended…
Who Can You Call with Questions About Social Security and Medicare?
Social Security and Medicare are, inarguably, the two most important senior benefit programs in our nation, but they are also both exceedingly complex and difficult for the uninformed to navigate. This excellent article by Hillary Hatch, appearing at Michigan’s Pioneer…
Times are tough!! Take Advantage of these Savings Tips
Times are, indeed, tough for many Americans, with inflation still inexorably nudging the price of everything we buy even further up. But, there are still opportunities out there to save – as explained in this Yahoo! Finance article by Andrew…
Will the Annual COLA Increase Ever Be Enough?
All Social Security recipients received a historically high 8.7% Cost of Living Adjustment (COLA) for 2023, yet a recent survey found that over half felt that wasn’t enough. And this year’s 3.2% COLA will likely receive the same reception from…