Social Security
Unpaid Student Loans Can Be Deducted from Social Security Benefits.
Beginning May 5th, 2025, if you are behind on your Student Loan payments, you can have 15% of your Social Security benefit withheld until it is repaid. You need to make a payment plan arrangement before May 5th, 2025, to…
What Is the Best Age to Claim Your Social Security?
This depends on your personal situation. If you are married, this decision should be made with your spouse. Look at your expected longevity (family history), your other retirement accounts, and how heavily dependent will you (or your survivor) will be…
When Will You Get Your Social Security Payment in May 2025?
Social Security does not send everyone’s payment out on the 1st of the month. The 1st is when Supplemental Security Income (SSI) payments are received. You receive your Social Security payment based on the day of the month that your…
A New Way to Access Your Social Security Card is Coming Soon
Soon, you will be able to securely view your Social Security number through your MySocialSecurity Account online. This will enable people who have forgotten their Social Security number or misplaced their Social Security card to retrieve it. This once again…
Confidence in Retirement Planning Holding Steady…But Social Security Concerns Rising
Based on the results of the 35th annual Retirement Confidence Survey (RCS), conducted by the Employee Benefit Research Institute (EBRI) and Greenwald Research, it appears that Americans ages 25 or older continue to feel confident about financial success in retirement.…
SSA Takes a Step Into AI Training Mode
Social Security Administration employees are being asked to use a generative AI chatbot in their routine tasks, with a prerequisite that they watch a 4-minute video on the tool known as the “Agency Support Companion.” While the training might be a…
New Rules for Student Loan and Social Security Garnishment
May 5 is the target date for the Treasury Offset Program to begin collecting on defaulted federal student loans. A Marketwatch.com article by assistant managing editor Jillian Berman reports “… the process that allows for borrowers who are in default…
Social Security’s Maximum Benefit–How Do You Get It?
Well, let’s just say it’s very difficult. Very few beneficiaries have an earnings record robust enough to generate the highest available benefit ($5,108 this year). As explained by Yahoo!Finance reporter Rachel Christian in a post on their website, “the path…
Celebrate National Social Security Month!
(Source – Social Security Administration) Since its creation in 1935, Social Security has provided financial security to millions of workers and their families. We’ve evolved over the last 90 years as we’ve worked to meet the changing needs of the…
Taxation of Social Security Benefits–Assessing the Impact on Your 2025 Return
The issue of federal taxation of a portion of Social Security benefits is currently undecided, with the Trump Administration lobbying to eliminate the tax entirely. At the same time, Congress is looking at bills designed to increase the outdated thresholds…