Social Security
The election & Social Security’s future
Lorie Konish of CNBC says Social Security is on the ballot this fall. She explains the various bills in Congress on both sides of the aisle. Democrats are championing tax increases and Republicans have suggested raising the retirement age over…
Social Security & Inflation: Keeping Up or Losing Ground?
Tami Luhby of CNN writes here that Social Security is not keeping up with inflation and that many seniors may exact their ire over the issue at President Joe Biden. Two recent cost of living increases (5.9% in 2021 and…
Potential changes may call for a reassessment of Americans retirement plans.
Some things that may affect retirement plans are an increase in the cost of living and the government making changes to Social Security. A significant majority of workers expect Social Security to be a major source of retirement income. Other…
Can Annuities help with your Social Security strategy?
There are a myriad of options to consider when deciding to claim Social Security benefits. Eligibility spans eight years, from age 62 to 70. If you want to retire early and delay taking Social Security, how do you fill in…
Marriage Rates, Birth Rates, and the Future of Social Security
The U.S. taxpayer-to-beneficiary ratio has dropped dramatically since the early days of Social Security, skidding from 42:1 in 1945 to less than 3:1 today, with projections calling for a continued decline in the years ahead. Although not the only factor…
Revisiting WEP And GPO
One of the most nagging criticisms of the U.S. Social Security program is found in the persistent outcries of unfairness from the people affected by two scorned sections of the program’s massive rulebook. Anyone following legislative activities involving Social Security…
What did people do before Social Security?
Social Security was first introduced in 1935. It has been a tremendous support for older and disabled Americans for decades. Do you ever think about how older people managed before that time? There weren’t a lot of options and often…
An Update on the “You Earned It, You Keep It Act”
H.R. 7084, titled the “You Earned It, You Keep It Act” was introduced in late January of this year by Rep. Angie Craig (D-Minn) and has accumulated 10 cosponsors at this point. It’s primary objective is the elimination of federal…
CPI-E Advanced in New Congressional Bill
U.S. Rep. Ruben Gallego (D-AZ) recently introduced legislation that could increase the monthly benefits paid to seniors by requiring the Social Security Administration to use a different inflation-calculation formula. His bill, titled the “Boosting Benefits and COLAs for Seniors Act,” calls…
Members of American Federation of Teachers attend hearing for HR 82 ( Social Security Fairness Act)
The Windfall Eilimination Provision (WEP) and Government Pension Offset (GPO) affect the Social Security benefits of some government workers who are exempt from Social Security Tax. This legislation was meant to help offset the fact that these workers are treated…