Social Security
O’Malley: Congress Needs to Pass Spending Bill to help Social Security Continue and Improve Function to Help Recipients
The Social Security Administration Commissioner Martin O’Malley is concerned about keeping up services to the public unless Congress passes an increase spending bill soon. He has been waiting for this and needs it to help with hiring customer service staff,…
What should Younger Workers do NOW to have a financially solid retirement?
A big advantage to starting younger is having a lot more time to plan. There are savings, investments and other opportunities to start early that could have a huge impact on your retirement income. Jordan Rosenfeld For GoBankingRates explains here……
Cost of Living Adjustment to be Announced on October 10, 2024
After months of estimated projections, we will finally have a concrete amount for the benefits increase starting in December and showing up in January 2025 payments. That’s the”good” news. However, it’s essential to remember that an expected increase in Medicare…
The Social Security Administration released adjustments to benefit payment criteria
In an effort to streamline payment processes Social Security has made some updates to payment schedules. IDR News Network explains here… Notice: The link provided above connects readers to the full content of the posted article. The URL (internet address) for this…
Immigration & Social Security’s Funding Crisis
Social Security and Medicare are important issues to voters 50+, and many cast ballots based on them. Lorie Konish of CNBC writes a comprehensive piece here noting that illegal immigration does not play any significant role in the looming insolvency…
Would increasing full retirement age to 69 save Social Security?
Insolvency is just a decade away for Social Security. The usual choices to rescue the program are raising taxes, cutting benefits, and increasing the full retirement age (FRA). No single option “solves” the problem, and Jessica Hall of MarketWatch explains…
Controversial WEP & GPO Bill Has Decent Chance of Passage
The Windfall Elimination Provision (WEP) and Government Offset Provision (GPO) are reviled by public employees, whose Social Security benefits are cut as a result of having only worked sparingly in jobs that paid into Social Security. But not all agree…
Claiming Benefits Early…Not Always a Bad Move
Most financial counselors will advise clients to defer filing for Social Security benefits as long as possible, but at least until reaching full retirement age. This strategy will ensure that your monthly benefits payment will avoid the reduction accompanying the…
Social Security’s Lump Sum Death Benefit (LSDB)
Current Social Security rules allow for a one-time death benefit ($255) to be paid to a decedent’s spouse, minor children living in the same home, or a child who has developed a disability at age 21 or younger. If the…
Rumor Clean-Up Time: Illegal Immigrants and Social Security
Without question, the issue of immigration is foremost on the minds of many Americans these days. The 2024 presidential election cycle consistently creates commentary about the state of our immigration system, the policies associated with it, and the financial impacts…